The United States is strengthening its position as the world’s main gas supplier. This is reported by Bloomberg.
It is noted that sanctions and wars make US LNG even more important next year. Conflicts from Russia to the Gaza Strip increase the role of the States in the supply of blue fuel as the global market shrinks.
Last week, the U.S. imposed sanctions on Russia’s Arctic LNG-2 liquefied natural gas project, which is about to start up, because of the Ukraine conflict. Traders are now working out the details, but the measures against the plant could limit supplies to its overseas owners, including the Japanese government and France’s TotalEnergies SE, reports said.
The widening war between Israel and Hamas, in turn, could disrupt shipments through the Strait of Hormuz, a key waterway for transporting fuel. Egyptian LNG exports to Europe have already been affected. And the conflict in Mozambique is keeping the massive TotalEnergies-led project in limbo.
“That raises the profile of new US LNG plants coming online next year, which will play an even bigger role in supplying import terminals in Europe and fuelling fast-growing economies in Asia,” the article says.
It noted that projects in the US include Venture Global LNG Inc.’s Plaquemines in Louisiana, Cheniere Energy Inc.’s plant expansion in Corpus Christi, Texas, and Qatar-backed Golden Pass also in Texas.
These plants will account for more than 70% of new supply. The plants will come online in the next 12 months, and that percentage will be even higher if sanctions derail the start-up of an Arctic project in Russia. They will cement the US’ status as the world’s leading supplier, the agency notes.