FT US prepares for next wave of LNG exports Chinese demand is soaring — so much so that Beijing spared the product from tariff rises © FT montage
When China last week set out a list of US exports threatened with retaliatory tariffs, almost all fossil fuels were covered, including oil, coal and liquefied petroleum gases such as propane. There was, however, one conspicuous exemption: liquefied natural gas.
After a lull, investors are turning their sights toward a stronger market for liquefied natural gas.
Royal Dutch Shell Plc, Total SA and other energy producers are looking again at plant construction projects deemed too risky just a year ago. About $150 billion worth of LNG ventures now have a better-than-even chance of going ahead in the next 18 months, according to Energy Aspects Ltd. Last year, only one gained approval.
Venture Global LNG Inc. took another step toward becoming the first among the second wave of companies vying to ship liquefied natural gas from U.S. shores.
Royal Dutch Shell has agreed to double its liquefied natural gas purchase agreement with Venture Global, taking the US LNG group one step closer to a final investment decision for its project in Louisiana.
Shell has agreed to double its offtake from the planned 10 million mt/year Calcasieu Pass LNGfacility in Louisiana, project developer Venture Global LNG said in a statement Tuesday.