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Released February 12, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Cheniere Energy Incorporated (NYSE:LNG) (Houston, Texas) announced that it has entered into a liquefied natural gas (LNG) sales agreement with China National Petroleum Corporation (CNPC) (Beijing, China) for 1.2 million metric tons per year of LNG.
A portion of the supply will begin in 2018, with the balance of supply beginning in 2023. The agreement lasts through 2043. "We are pleased to announce these LNG contracts with China National Petroleum Corporation, an important global energy player in one of the largest and fastest growing LNG markets worldwide," said Cheniere Chief Executive Officer Jack Fusco. "We expect these agreements to support the development of Corpus Christi Train 3, and we are now focused on completing the remaining necessary steps to reach a final investment decision later this year."
Cheniere remains the only LNG exporter in the U.S. from its Sabine Pass LNG production and export facility in Louisiana. A fifth 4.5 million-tonne-per-year LNG train is under construction at the facility, which will bring the site's total production to 22.5 million metric tons per year in 2020. For more information, see Industrial Info's project report.
Cheniere is building two trains at its facility in Corpus Christi, Texas. Each train will have a production capacity of 4.5 million metric tons per year. Train 1 is expected to be completed later this year, with Train 2's completion expected in the first quarter of next year. Bechtel Group Incorporated (San Francisco, California) is providing engineering, procurement and construction. For more information, see Industrial Info's project reports on Corpus Christi Train 1 and Train 2.
A third 4.5 million-metric-ton-per-year awaits a final investment decision, but the contract with CNPC appears to help boost the train's prospects of beginning construction. Construction on the train could begin this summer, with completion in 2021. Construction of the train would mean a total of 13.5 million tonnes per year of LNG from the Corpus Christi facility. For more information, see Industrial Info's project report.
U.S. LNG exports are on the rise with the pending completion of LNG production trains by Cheniere in Corpus Christi and Louisiana and Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) in Lusby, Maryland. Construction on Dominion's facility began in 2014 and was wrapped up late last year. The plant remains in the commissioning phase and is expected to begin full service in March. For more information, see Industrial Info's project report.
Cheniere has yet to make a final investment decision (FID) on a sixth train at its Sabine Pass plant, which would bring total site capacity to 27 million metric tons per year. Pending the FID, construction could begin late this year or early next year, taking about four years to complete. For more information, see Industrial Info's project report.
With the new U.S. LNG exports, the Panama Canal is expected to begin shipping more LNG through its channel this year. Jorge Quijano, the head of the canal's governing authority, told Reuters that LNG tankers going through the canal are expected to rise 50% by September due rising exports from the U.S. The canal received 60 LNG tankers in the last quarter of 2017 and is expected to reach one per day soon.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
A portion of the supply will begin in 2018, with the balance of supply beginning in 2023. The agreement lasts through 2043. "We are pleased to announce these LNG contracts with China National Petroleum Corporation, an important global energy player in one of the largest and fastest growing LNG markets worldwide," said Cheniere Chief Executive Officer Jack Fusco. "We expect these agreements to support the development of Corpus Christi Train 3, and we are now focused on completing the remaining necessary steps to reach a final investment decision later this year."
Cheniere remains the only LNG exporter in the U.S. from its Sabine Pass LNG production and export facility in Louisiana. A fifth 4.5 million-tonne-per-year LNG train is under construction at the facility, which will bring the site's total production to 22.5 million metric tons per year in 2020. For more information, see Industrial Info's project report.
Cheniere is building two trains at its facility in Corpus Christi, Texas. Each train will have a production capacity of 4.5 million metric tons per year. Train 1 is expected to be completed later this year, with Train 2's completion expected in the first quarter of next year. Bechtel Group Incorporated (San Francisco, California) is providing engineering, procurement and construction. For more information, see Industrial Info's project reports on Corpus Christi Train 1 and Train 2.
A third 4.5 million-metric-ton-per-year awaits a final investment decision, but the contract with CNPC appears to help boost the train's prospects of beginning construction. Construction on the train could begin this summer, with completion in 2021. Construction of the train would mean a total of 13.5 million tonnes per year of LNG from the Corpus Christi facility. For more information, see Industrial Info's project report.
U.S. LNG exports are on the rise with the pending completion of LNG production trains by Cheniere in Corpus Christi and Louisiana and Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) in Lusby, Maryland. Construction on Dominion's facility began in 2014 and was wrapped up late last year. The plant remains in the commissioning phase and is expected to begin full service in March. For more information, see Industrial Info's project report.
Cheniere has yet to make a final investment decision (FID) on a sixth train at its Sabine Pass plant, which would bring total site capacity to 27 million metric tons per year. Pending the FID, construction could begin late this year or early next year, taking about four years to complete. For more information, see Industrial Info's project report.
With the new U.S. LNG exports, the Panama Canal is expected to begin shipping more LNG through its channel this year. Jorge Quijano, the head of the canal's governing authority, told Reuters that LNG tankers going through the canal are expected to rise 50% by September due rising exports from the U.S. The canal received 60 LNG tankers in the last quarter of 2017 and is expected to reach one per day soon.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
