LNG Canada Decision, U.S. Drillers Add Oil Rigs: Your Daily Energy News

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News highlights compiled by Industrial Info Resources (Sugar Land, Texas) dealing with the energy markets.

LNG

Canada Minister: LNG Canada Expansion Decision Expected by Yearend
Late last week, Canada's Minister of Energy and Natural Resources Tim Hodgson said LNG Canada will make a final investment decision (FID) on the expansion of its liquefied natural gas (LNG) production and export facility in Kitimat, British Columbia, by the end of this year. Industrial Info Resources data find the US$12.5 billion expansion entails adding two production trains that would double the plant's existing production to 28 million metric tons per annum. Subscribers to the Industrial Info Resources Global Market Intelligence (GMI) Project Database can learn more by viewing the project report.

Production

U.S. Drillers Add Oil Rigs
Baker Hughes reports that U.S. drillers added five oil rigs in the week ending May 15, bringing the total count to 415. The number of gas rigs declined by one to 128, while the number of miscellaneous rigs also fell by one to eight.

Power

EIA: U.S. Power Demand to Beat Record Highs in 2026, 2027
In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) projected U.S. power demand will rise from 4,1995 kilowatt-hours (kWh) in 2025 to 4,248 billion kWh in 2026 and 4,379 billion kWh in 2027, setting record highs each year.

Key Takeaways

• Canada's Minister of Energy and Natural Resources said LNG Canada is expected to make an FID on the expansion of its Kitimat, British Columbia, LNG plant by the end of this year.
• U.S. drillers last week added five oil rigs, while the number of gas rigs declined by one.
• The EIA predicts U.S. power demand will break records in 2026 and 2027.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).