TotalEnergies to potentially sell its interest in US LNG developer - Upstream Online
TotalEnergies to potentially sell its interest in US LNG developer | Upstream Online
French energy giant TotalEnergies could potentially sell its shareholding in US liquefied natural gas developer NextDecade, which is currently building the large Rio Grande LNG export project.
The LNG developer NextDecade said in a regulatory shelf filing it had registered the shares owned by Global LNG North America, a subsidiary of TotalEnergies.
A NextDecade spokesperson clarified to Upstream that this enabled the energy giant to sell the shares if it chooses to do so.
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.