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US LNG faces possible shakeout year; global supply growth to foster spot market

US LNG projects face possible shakeout year in 2020

This was supposed to be a breakout year for U.S. LNG export projects getting commercially sanctioned. But with 2019 wrapping up, just two new export terminals and an additional train at an existing facility made it over the line to construction. That means 2020 could be a shakeout year for the dozen or so projects being developed around the country amid a growing consensus among market observers that the window for independent projects to be advanced to construction is rapidly closing.

Global LNG supply growth to foster spot market, challenge new commercial deals

The continued build-out of the U.S. LNG export complex is expected to keep a lid on international gas prices and require project developers and gas sellers to stay nimble in an evolving marketplace to be successful. Pressuring traditional market fundamentals will be the likelihood that final investment decisions on additional global production capacity could increasingly move ahead without being connected to long-term contracts with end users.

Cheniere expects Midship service to start in April 2020, raises cost estimates

Cheniere Energy Inc.'s Midship Pipeline is looking to begin partial gas transportation service as soon as April 2020, the company told federal regulators as it asked to raise recourse rates in response to increased construction costs. That schedule puts the start well beyond October, when the developer had indicated earlier this year that it planned to begin interim service on the 200-mile natural gas pipeline.

Australia's Woodside enters 13-year LNG supply deal with Germany's Uniper

Woodside Energy Trading Singapore Pte. Ltd. said Dec. 24 that it entered into a 13-year LNG sales deal with Germany's Uniper Global Commodities SE for the supply of LNG from the Australian company's global portfolio starting in 2021. The volume of LNG to be supplied under the deal will initially be up to 500,000 tonnes per year, increasing to 1 million tonnes per year from 2025, Woodside said.

Cameron LNG begins production from 2nd train of La. export facility

Sempra Energy-led Cameron LNG LLC began producing LNG from the second liquefaction train of its export facility in Louisiana. Cameron LNG expects the second and third trains of the facility to enter commercial service in the first quarter and third quarter of 2020, respectively, according to a Dec. 23 news release.

Dominion completes sale of 25% stake in Cove Point for $2.1B

Dominion Energy Inc. said Dec. 20 that it completed the sale of a 25% noncontrolling equity stake in its Cove Point LNG facility in Maryland to Brookfield Asset Management Inc. affiliate Brookfield Super-Core Infrastructure Partners LP for about $2.1 billion.

TC Energy to sell majority stake in Coastal GasLink to KKR, AIMCo

TC Energy Corp. agreed to sell a 65% equity stake in the Coastal GasLink natural gas pipeline project to KKR & Co. Inc. and Alberta Investment Management Corp. TC Energy also intends to strike a deal to secure funding for the project that will cover up to 80% of the construction.