Cheniere gets ready for ‘next round’ in global gas export market

“The Center for Liquefied Natural Gas welcomes any measures of support or creation of opportunity for U.S. LNG”, Charlie Riedl, executive director of the Center for Liquefied Natural Gas, said.

The U.S. shale gas will be transported by six LNG carriers operated by three local shipping firms, according to KOGAS.

Meanwhile, Indian companies have already secured agreements for supplies from Cheniere Energy Inc.’s Sabine Pass liquefied natural gas terminal in Louisiana; Dominion Energy Inc.’s planned Cove Point LNG plant in Maryland; and Sempra Energy’s Cameron LNG project in Louisiana, company filings show.

US plans to export more natural gas, clean coal and renewable resources and technologies to India to fuel the country’s growing energy demand and strengthen ties between the two countries, according to an Indo-US joint statement.

Now Act would strike decades-old restrictions on exporting and importing natural gas, guarantee Department of Energy (DoE) approval of export volume applications without delays and keep current DoE management and record-keeping processes in place. It is also historical that it is the first time when LNG brought through Klaipėda is planned to be stored in Inčukalns natural gas storage facility in Latvia, where the gas market was liberalised just a few months ago.

KOGAS president and CEO Seung-Hoon Lee said “This long-term LNG SPA with Cheniere Energy will contribute significantly to improving the trade balance between the United States and Korea”. “We hope the first shipment of US LNG will arrive in the second half of August”, spokesman Paulius Jakutavicius told AFP. It can import up to 2.2 million tonnes a year (mta).

Gail India Ltd., India’s state gas utility, signed a 20-year agreement with Cheniere for supplies from Sabine Pass. It could also benefit from the reselling of United States shale gas to a third country if supply overflows, though it cannot do so with gas from the Middle East under the contract’s conditions.

Zygimantas Vaiciunas, Lithuania’s energy minister, said the contract is a historic moment amid efforts to diversify energy sources and use LNG supplies for commercial purposes.

https://appsforpcdaily.com/2017/06/cheniere-gets-ready-for-next-round-in-global-gas-export/