Buyers In Japan And South Korea Renew Long-Term Deals With Russian LNG Project
The Sakhalin-2 LNG project could see its revenues double in 2023 compared to before the Russian invasion of Ukraine as LNG prices are now higher and many of the long-term Asian buyers have renewed their deals, Reuters reported on Wednesday, citing analysts and its own calculations.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.