Exporting

Commonwealth LNG is developing a 9.5 MTPA (million tonnes per annum) liquefied natural gas (LNG) export terminal project located near Cameron, Louisiana. In September, Commonwealth announced it had signed a deal with EQT Corporation to provide 1.0 MTPA of LNG for EQT to resell (see EQT Signs Third Deal to *Buy* LNG – This One Commonwealth LNG). Commonwealth, in its press release, stated that with the EQT deal, it now has sufficient commitments (5.0 out of 9.5 MTPA) to proceed with a final investment decision (FID), which it plans to make by the end of this year. However, Commonwealth just asked the Federal Energy Regulatory Commission (FERC) for more time to build. Read More “Commonwealth LNG Asks FERC for Extra 4 Years to Build”

The Europeans have tried to regulate the U.S. oil and gas industry for more than a year (see Europeans Presume to Impose Their Regulations on American Gas). You probably know what we think of that. They’re are doing it again. The European Union’s Corporate Sustainability Due Diligence Directive (CS3D) imposes strict climate and labor compliance requirements on nearly 17,000 global companies, including about 3,000 large U.S. firms, extending to their suppliers and subcontractors worldwide. American energy companies, particularly LNG exporters, face potential annual compliance costs of up to $2.7 million and fines of 5% of their global revenue for noncompliance, with the possibility of private lawsuits. Read More “Europeans Think They Can Regulate Our O&G, LNG Standards”

We’ll begin this post with this statement: We’re not surprised. At the end of last December, Venture Global’s Plaquemines LNG export facility officially shipped its first cargo to Germany. Unfortunately for Venture Global’s contracted customers, they will have to wait to receive their legally contracted shipments. Venture Global said that it would (as it did with the Calcasieu Pass facility) pretend the Plaquemines LNG is not “commercially ready” while shipping all sorts of LNG cargoes around the world. The practice allows the company to cream the market and make more money for the first couple of years (see Plaquemines LNG Coming Online, Will Hose Customers for 2 Years). We consider it a disgusting business practice. And now, VG wants *another* 15 months added to the calendar to continue this practice. Read More “VG Wants an Extra 15 Months for Commissioning Plaquemines LNG”

We’ve railed against the Jones Act for years. The Jones Act, passed in 1920, requires goods shipped between U.S. ports to be transported on ships that are built, owned, and operated by U.S. citizens or permanent residents. The problem is, big LNG tankers are all built, owned, and/or operated by foreign countries. You can’t fill up an LNG tanker in Sabine Pass or Cove Point and float it into Boston Harbor and unload it because the ship is not “U.S.-flagged.” It’s illegal under the Jones Act. We came close to repealing it during the first Trump administration, but ultimately failed (see Insider Bureaucrats Sunk LNG Jones Act Waivers During Trump Admin). We spotted a new column echoing our opposition to the Jones Act from the Cato Institute, saying the law is “strangling” U.S. energy, and it’s past time to repeal the law. Read More “The 105-Yr-Old Jones Act Strangles U.S. Energy; Time to Repeal It”