Natural Gas News – March 23, 2023

Natural Gas News – March 23, 2023

Port Arthur Chosen as Site for New $13 Billion LNG Facility
It definitely didn’t happen overnight, however, now it’s official. A Sempra affiliated company reached a positive final investment decision (FID) for the development, construction and operation of the Port Arthur LNG Phase 1 project in Jefferson County, Texas, and with it, the closing of the project’s $6.8 billion non-recourse debt financing and the issuance of the final notice to proceed under the project’s engineering, procurement and construction agreement. Total capital expenditures for the Port Arthur Phase 1 project are estimated at $13 billion. The Port Arthur LNG Phase 1 project is fully permitted and is designed to include two natural gas liquefaction trains, two liquefied natural gas (LNG) storage tanks and associated facilities with a nameplate capacity of approximately 13 million tonnes per annum (Mtp… For more info go to https://bit.ly/3FJVS1M

Will U.S. Natural Gas Exports Continue To Grow?
LNG stands for Liquefied Natural Gas. It is a natural gas that has been cooled down to a very low temperature (-162°C or -260°F) to transform it into a liquid state. This process of liquefaction reduces the volume of the natural gas by a factor of around 600, making it easier and more cost-effective to transport over long distances using specialized tankers. LNG is considered a cleaner-burning fossil fuel compared to coal or oil, as it produces less carbon dioxide and other pollutants when burned. It is used in various applications such as power generation, industrial processes, and transportation, among others. In 2022, the US became the largest exporter of LNG in the world. According to U.S. Energy Information Administration’s recent short-term outlook, liquefied natural gas exports will… For more info go to https://bit.ly/3TKukPO