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Oil, gas purchases are part of US-China deal; gas flows to US LNG plants soar


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Oil, gas purchases are part of US-China deal; gas flows to US LNG plants soar

Oil, gas purchases a cornerstone to US-China trade deal

If Chinese consumers and U.S. oil and gas producers can pull it off, China will be buying lots more U.S. oil and gas this year and next, according to the terms of the "phase one" trade agreement the two countries signed Jan. 15. According to the Office of the U.S. Trade Representative, China will purchase at least $30.1 billion worth of energy products in 2020, and at least another $45.5 billion in 2021. China is set to become the world's biggest importer of LNG within a decade.

Gas flows to LNG plants soared into 2020 at 9% of US daily production

Total daily natural gas flows to the six operational U.S. LNG export facilities topped 8.5 Bcf on the final day of December 2019, capping a remarkable rise in feedgas deliveries over the year with an ongoing ramp-up of U.S. LNG export capacity. The increasing gas flows to LNG facilities provided a key outlet for surging gas production amid low Henry Hub prices and supported the availability of U.S. LNG to serve winter demand in world markets. The U.S. LNG export capacity stands to keep increasing in 2020, but less dramatically than in 2019.

LNG developers are insulated from contractor McDermott's financial troubles

Developers behind two major U.S. LNG export facilities being built by engineering and construction contractor McDermott International Inc. do not expect to suffer setbacks as a result of a reportedly imminent bankruptcy at the contractor, which could file for a restructuring within weeks. A key element in McDermott's financial trouble was losses on the pair of LNG projects after delays and cost overruns. But the developers of those facilities, the Sempra Energy-led Cameron LNG terminal in Louisiana and the Freeport LNG Development LP facility in Texas, said they are on schedule to complete the final liquefaction units this year.

TC Energy's Coastal GasLink draws urban protests, potential sabotage

The Royal Canadian Mounted Police said they found felled trees and potentially harmful traps along an access road to a construction site for TC Energy Corp.'s Coastal Gaslink Pipeline Ltd. project. "These concerning items have been brought to the attention of the Wet'suwet'en hereditary chiefs," the RCMP said in a statement. "They have also been advised that the RCMP has entered into a criminal investigation under Section 247 of the Criminal Code for traps likely to cause bodily harm."

Eagle LNG to partner with Matrix Service to develop LNG terminal in Florida

Eagle LNG Partners will partner with oilfield services provider Matrix Service Co. subsidiary Matrix Service Inc. for the construction of Eagle LNG's export terminal in Jacksonville, Fla. The facility will have a capacity of about 1.65 million gallons per day of LNG, 12 million gallons of storage, a marine terminal and truck-loading capabilities, according to a Jan. 13 news release.