Tailwinds for Venture Global LNG

Tailwinds for Venture Global LNG

Reese Energy Consulting recently shared what can only be described as rockin’ awesome news from the nation’s LNG industry. Not only have U.S. exports bounced back, they’ve crushed record volumes as global markets regain their footing post-COVID 19. REC today is following the latest news from Va.-based Venture Global LNG. which just announced construction of its Calcasieu, La., terminal is ahead of schedule with the first six of 18 production trains to be installed by February. Operations are expected to begin in 2022. Unlike its large-scale, export competitors on the Gulf, Calcasieu Pass and Global LNG’s second La., export project—Plaquemines LNG—will employ a modular design fit for mid-scale facilities that dramatically reduce overall costs with the use of factory-built components. As a side note, Baker Hughes is fabricating the Calcasieu trains in Italy. Two of the first pre-built trains already have been installed. Once complete, the Calcasieu plant will be capable of exporting 10 MTPA of LNG. At twice its size, Plaquemines will have an export capacity of up to 20 MTPA.

 

Venture Global LNG

Venture Global LNG is a long-term, low-cost producer of North American liquified natural gas (LNG). Their three export facilities, Calcasieu Pass, Plaquemines LNG and Delta LNG, will supply the world’s growing demand for low-cost, clean and reliable North American energy.

venturegloballng.com

What do you think? Learn more about REC’s LNG services and expertise at www.ReeseEnergyConsulting.com.

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American LNG Demand Comes Roaring Back

American LNG Demand Comes Roaring Back

Global demand for natural gas is pouncing like a lion on U.S. LNG with American exports crushing pre-COVID records. Reese Energy Consulting today is following the latest news on the surge of LNG tonnage being dispatched to recovering global markets in need of low-cost fuel to return to some semblance of normal. Back in June, the EIA reported that U.S. LNG exports had declined by more than one-half due to the COVID fallout of cancelled shipments and month-long hurricane shutdowns. This, after a record 9.8 BCFD in late March by a relatively new domestic energy sector that had witnessed runaway growth and expansion in four short years. But as of last Friday, U.S. exports not only tipped—but toppled—the scales at 11.4 BCFD. Top destinations between July and September weren’t limited to Asia either, but included the Middle East, Europe, South America, and Mexico. Say what you will, but this is a major bright spot in a topsy-turvy year for our abundant natural gas supplies, which have now reached all-time highs in new demand. The world is getting back on its feet.

What do you think? Learn more about REC and our natural gas and LNG expertise at www.ReeseEnergyConsulting.com.

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Gotta Whole Lotta Love

Gotta Whole Lotta Love

 If anything, 2020 has proven that the oil and gas industry still has a whole lotta life left for the foreseeable future. Times are uncertain, for certain. But like they say on the big screen, there’s no crying in baseball. Which aptly describes our producer and midstream clients who not only look for every advantage they can get right now but also are preparing for their energy business future. For some, that means immediate measures to identify and plug holes where revenues go lost, secure premium markets for gas sales, and take an electron microscope to contracts and agreements in need of renegotiation to boost bottom lines. But it also means finding and acting on new and emerging opportunities in a period of consolidation and industry evolution we see happening every day. Aside from the number of audits and due diligence projects REC performs throughout the year, we’re also at work on potential client A&Ds and producer services, facilitating design and commissioning of a new high-pressure gas line in the Mid-Continent, reporting on flared gas volumes, and exploring all the possibilities hydrogen offers as a fuel of the future.

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Learn more about us at www.ReeseEnergyConsulting.com.

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The Great Alaska LNG Project 2.0

The Great Alaska LNG Project 2.0

Bill Walker served only one term as Alaska governor. But upon leaving his post in 2018, he was anything but retired from championing what could become the world’s largest LNG complex along with an 807-mile natural gas pipeline to flow supplies from Prudhoe Bay. During his tenure in office, Walker oversaw Alaska Gasline Development Corp (AGDC), which became the state sponsor of the project bearing an initial price tag of $65 billion from early investors Exxon, BP, and ConocoPhillips. But the bottom fell out in 2017 when depressed natural gas prices forced a change of heart among the big three, leaving Walker to deem the project too complex and risky to develop even in a state the size of Alaska. Still, AGDC plodded onward to secure all required 70 permits and slashed the estimate to a more palatable $38.7 billion. Now, two years after leaving office, Walker is far from waving a white flag on the mega facility that would export 20 MTPA of LNG. He and the former CEO of AGDC have formed Alaska Gasline and LNG to seek out private-sector funding wherever that might lead. And they’re determined to find it.

Alaska Gasline Development Corp

Alaska Gasline Development Corporation (AGDC) is an independent, public corporation of the state of Alaska. AGDC’s roots date back to 2009, when declining Cook Inlet gas supplies raised the possibility of local energy brown outs and higher energy costs. In 2010, the Alaska Legislature passed House Bill 369, creating AGDC.

agdc.us

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