In February of this year, the U.S. saw the first LNG shipment sail out of Cheniere’s Sabine Pass in Louisiana.
The shipment of 160,000 cubic meters was sent to Guanabara Bay in Brazil on the tanker Asia Vision.
Now, just weeks later the Clean Ocean is heading to port to fill up on another shipment. The tanker waited its turn in the Gulf of Mexico, and is now being loaded with Cheniere’s second export shipment.
This shipment is one of the 10 or so cargoes that Cheniere plans to export through April. Most, like the first, have already been sold to buyers on contract.
And the company seems pretty confident that it will continue to find customers for its LNG.
You see, after the first shipment, Cheniere shut down its export terminal for a few weeks to make routine maintenance checks.
The checks “went smoothly,” and now the terminal is back online and converting more natural gas than ever before.
In a matter of days, according to one source, gas feeds went from zero to 200,000 million British Thermal Units per day.
And this is still just the beginning. Cheniere has several LNG trains under commission, which will increase the amount of natural gas able to be processed on site.
The company has said that the Sabine Pass site could accommodate as many as six such trains, which could bring the processing capacity to 3.5 billion cubic feet of gas per day.
The first train’s capacity has already been contracted to BG Group, and later trains already have contracts with Total, KOGAS, Centrica and more.
Lucky for Cheniere, natural gas and LNG don’t have nearly the doom and gloom market attitude that oil does. We’ve said before that natural gas was going to recover much faster.
It will stand to be seen, however, if the company’s business stays up against competition from Australia and Qatar, two of the world’s biggest LNG exporting countries, and even Iran eventually.
To continue reading about Cheniere’s LNG export plans, simply click here to read the Platts article.
Until next time,
Keith Kohl
Check us out on YouTube!A true insider in the technology and energy markets, Keith’s research has helped everyday investors capitalize from the rapid adoption of new technology trends and energy transitions. Keith connects with hundreds of thousands of readers as the Managing Editor of Energy & Capital, as well as the investment director of Angel Publishing’s Energy Investor and Technology and Opportunity.
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