By Sergio Chapa (Bloomberg) Qatar reclaimed the crown as the world’s top liquefied natural gas exporter from the U.S. just as the end of winter lowered demand for the heating fuel in the northern hemisphere.
April exports of the superchilled fuel from Qatar surpassed 7.5 million metric tons, edging out the U.S., according to ship-tracking data compiled by Bloomberg. Maintenance at Qatargas reduced the Middle Eastern nation’s exports a month earlier.
During the winter months, low temperatures, combined with Europe’s desire to cut dependence on Russian energy, drove up the demand for natural gas and prices of the fuel.
Once winter ended, some U.S. export terminals have used the period of softer demand and lower prices to undergo maintenance, which has lowered the U.S. production.
A shale gas revolution, coupled with billions of dollars of investments in liquefaction facilities, transformed the U.S. from a net LNG importer to a top exporter in less than a decade.
Looking ahead, the U.S. and Qatar are expected to engage in a two-horse race for dominance in the global LNG market. Once the Calcasieu Pass export terminal in Louisiana is complete later this year, the U.S. is expected to reach a peak LNG production capacity of 13.9 billion cubic feet of natural gas per day. Meanwhile, Qatar is planning a gargantuan export project that will come online in the late 2020s, which could cement the Middle Eastern nation as the top supplier of LNG fuel.
Donald Trump's transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would approve export permits for new liquefied natural gas (LNG) projects and increase oil drilling off the U.S. coast and on federal lands, according to two sources familiar with the plans.
Oil and gas producers in the US will not raise output significantly in the coming years despite calls from President-Elect Donald Trump to “drill, baby, drill,” said Exxon Mobil Corp.’s Upstream President Liam Mallon.
Off the coast of Mississippi, a startup has completed its first floating platform for offshore wind turbines. Aikido Technologies Inc.’s solution would allow companies to deploy traditional turbines further from land, where the wind tends to blow stronger and more consistently, and the company sees the Mississippi deployment as a big step toward commercialization.
November 26, 2024
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