Natural Gas News – December 29, 2022

Natural Gas News – December 29, 2022

Japan Firms Agree on Long-Term LNG Deals with U.S. 
Japanese companies have agreed to purchase more liquefied natural gas (LNG) from the U.S. and Oman in the latest move to secure fuel supplies and avoid future shortages. Inpex, the nation’s top gas explorer, has inked a deal to procure 1 million tons a year from Venture Global LNG’s CP2 export project in Louisiana for 20 years. CP2 is slated to begin construction next year, according to Venture Global. Several firms, including Mitsui & Co., Itochu, and Jera, the nation’s top power producer, will enter an agreement with Oman to buy an additional 2 million tons or so a year from 2025 for 10 years, NHK said Tuesday. Bloomberg previously reported that Mitsui had been shortlisted by Oman. The deals come as the government reevaluates how it can enhance energy security in the face of a fuel crunch at home. Global LNG sup… For more info, go to https://bit.ly/3G0EHbx

Title Of Largest LNG Exporter In First Half Of 2022 Goes
The United States became the world’s largest LNG exporter during the first half of this year, according to data from CEDIGAZ. Compared with the second half of 2021, U.S. LNG exports increased by 12% in the first half of 2022, averaging 11.2 billion cubic feet per day (Bcf/d). U.S. LNG exports continued to grow for three reasons – increased LNG export capacity, increased international natural gas and LNG prices, and increased global demand, particularly in Europe. According to estimates made by the U.S. Energy Information Administration (EIA), the installed U.S. LNG export capacity has expanded by 1.9 Bcf/d nominal (2.1 Bcf/d peak) since November 2021. The capacity additions included a sixth train at the Sabine Pass LNG, 18 new mid-scale liquefaction trains at the Calcasieu Pass LNG, and in… For more info, go to https://bit.ly/3Gnhdih