Exporting

U.S. liquefied natural gas (LNG) exports hit monthly and annual record highs in December, according to tanker tracking data reviewed by Reuters. Analysts say the data shows the United States leapfrogged both Qatar and Australia to become the largest exporter of LNG in 2023. The two main factors for the U.S. achieving the #1 position are (a) Freeport LNG returned to full service after being down for 10 months following an explosion and fire, and (b) Venture Global LNG’s Calcasieu Pass facility adding more capacity to a facility that it still claims is not commercially ready.
Read More “U.S. Became #1 LNG Exporter in the World in 2023”

Last week, Charif Souki, an Egyptian-born but naturalized U.S. citizen, was booted from the company he co-founded, Tellurian (see Tellurian Fires Charif Souki – Out as Chairman & Executive Officer). The board fired Souki but let him keep a board seat. Souki is now gone from the board, too. He worked out a deal to leave the company with a severance package worth roughly $8 million.
Read More “Charif Souki Exits Tellurian & Driftwood LNG with $8 Million Payout”

Charif Souki, an Egyptian-born but naturalized U.S. citizen, has just been booted (for a second time) from a company he co-founded. In December 2015, evil corporate raider Carl Icahn (who invests in companies so he can fire a bunch of people, boost the stock, and pocket the profit) fired Souki from Cheniere Energy, a company he co-founded and helmed as CEO (see Evil Corporate Raider Carl Icahn Claims Another CEO Scalp). Souki didn’t let it slow him down. He started a new LNG export company to compete with his old company, Tellurian (see Revenge: Fired Cheniere CEO Starts Competing LNG Company). On Monday, the Tellurian board of directors removed Souki as Chairman. Souki will remain on the board, but he will no longer have any executive (day-to-day) responsibilities at the company. An SEC filing says Souki was “terminated without cause.”
Read More “Tellurian Fires Charif Souki – Out as Chairman & Executive Officer”

Venture Global’s Calcasieu Pass LNG export facility recently received Federal Energy Regulatory Committee (FERC) authorization to place the final three liquefaction blocks (7-9) into service (see Venture Global Gets FERC OK to Commission 3 Calcasieu Pass Trains). The other trains, 1-6, have been online for 18 months but are not officially in commercial service, even though the facility has shipped over 200 cargoes! Venture Global claims it’s still working out the kinks. Venture’s contracted customers are frustrated that they aren’t getting any shipments and have sued (see Repsol Joins Shell, BP in Suing Venture Global for Missed LNG). In recent interviews, Venture Global CEO Mike Sabel challenged those claims, stating the contracts don’t force him to sell to them. Talk about chutzpah!
Read More “Venture Global LNG Fights Back, Says It Did Not Violate Contracts”

In early November, MDN warned you about delays with LPG (propane) and LNG ships transiting the Panama Canal on their way to Asia (see Drought Along Panama Canal Causing Delays in Propane, LNG Exports). According to the Panama Canal Authority (APC), water levels at Gatún Lake are the lowest since at least 1995 due to an extended dry season and lower-than-normal precipitation on the Panama Canal. Several weeks later, the situation grew even more dire, with ships now required to pay money to reserve slots to transit the canal (see LNG Vessels Transiting Panama Canal Must Use Auction for Time Slots). Some LNG ships opt to travel further to the Suez Canal, which connects the Mediterranean Sea with the Red Sea, and the Red Sea with the Indian Ocean. But the Suez Canal has its own problems…
Read More “Red Sea Chokepoints, Pirates Threaten U.S. LNG Shipments to Asia”

In March 2022, MDN brought you news of a bold new plan by EQT CEO Toby Rice to “unleash” American LNG exports to not only help our friends in Europe but also to reduce the amount of coal use across the world, thereby lowering coal-related emissions including carbon dioxide (see EQT CEO Toby Rice Unveils Nationwide Plan to “Unleash” U.S. LNG). At last week’s Hart Energy DUG Appalachia, Rice said he will release the next iteration of his plan, Unleash LNG 2.0, early next year.
Read More “DUG Appalachia: EQT CEO Toby Rice Ready to Unleash LNG 2.0 Plan”

The American Gas Association (AGA) is a trade organization founded in 1918 that represents and advocates for local energy companies that deliver natural gas throughout the United States. With more than 200 members (BIG companies), the AGA educates the public about the importance of natural gas, supports natural gas utilities in their efforts to make their operations safer, more efficient, and more environmentally friendly, and serves as a resource for local, state and federal policymakers when it comes to regulating the natural gas industry. The AGA is one of the country’s premier natural gas associations. The AGA recently published an article titled “American LNG is Critical for Global Prosperity.” The article says two new U.S. LNG export terminals are due to come online in 2024: Golden Pass in Texas and Plaquemines in Louisiana.
Read More “2 New U.S. LNG Export Plants Coming Online Using 5.9 Bcf/d in 2024”

Cheniere Energy, Inc., the largest exporter of LNG in the U.S., announced two new agreements yesterday to sell more LNG to Europe. The first (and foremost) agreement is with ARC Resources, one of Canada’s largest natural gas producers, to sell 140,000 MMBtu per day (140 MMcf/d) of natural gas to SPL Stage 5 for a term of 15 years, commencing with commercial operations of the first train (“Train 7”) of the Sabine Pass Liquefaction Expansion Project. Yes, Canadian molecules will travel all the way to the Louisiana Gulf Coast to be liquefied and exported.
Read More “Cheniere Cuts 2 New Deals to Sell More Sabine Pass LNG to Europe”

An increasingly important market for U.S. natural gas, especially gas coming from the Marcellus/Utica, is LNG exports. The gas that flows to LNG export plants feeding the plants so they can liquefy and export it, is called feedgas. The U.S. hit an all-time high of 13.5 billion cubic feet per day (Bcf/d) of feedgas flowing to LNG facilities in April of this year. Then exports slowed over the summer. However, as we recently reported, LNG cargo shipments picked up again in October, tying the all-time high of cargoes sent in a single month (see U.S. LNG Exports Tie All-Time High in October with 110 Cargoes). RBN Energy is now reporting that U.S. feedgas volumes for November will, when the month is done, hit a brand new, all-time high of 13.8 Bcf/d.
Read More “U.S. LNG Feedgas Demand Hits All-Time High in November”

Venture Global’s Calcasieu Pass LNG export facility recently received Federal Energy Regulatory Committee (FERC) authorization to place the final three liquefaction blocks (7-9) into service (see Venture Global Gets FERC OK to Commission 3 Calcasieu Pass Trains). The other trains, 1-6, have been online for 18 months but are not officially in commercial service, even though the facility has now shipped over 200 cargoes! Venture Global claims it’s still working out the kinks. Venture’s contracted customers are frustrated that they aren’t getting any shipments and have sued (see Repsol Joins Shell, BP in Suing Venture Global for Missed LNG). With breathtaking chutzpah, Venture Global recently said the facility will not officially be online for commercial service until the fourth quarter of 2024.
Read More “Venture Global LNG Keeping Up “Not-Ready” Farce Until Late 2024″