A roundup of news and commentary from NGI’s LNG Insight
- Freeport LNG Train 3 reaches final commissioning stage, which includes introducing feed gas. Train 3 on track to reach initial production by end of March.
- Tudor, Pickering, Holt & Co. analysts note Train 3 will add 600 MMcf/d of “much needed demand for the U.S. market,” but said the opposite is true for worldwide supply “as pricing has dipped to all-time lows and demand is quickly peeling off as we move into shoulder season.”
- Pavilion Energy and Singapore LNG Corp. (SLNG) sign five-year deal for LNG storage and reload services at SLNG terminal on Jurong Island near Singapore. First such agreement signed for longer than two years, supporting more LNG trading activities, Pavilion says.
- IHS Markit’s Daniel Yergin: “The No. 1 target in Russia’s crosshairs is the U.S. shale industry,” the vice chairman said of the country’s price war with Saudi-led OPEC in a column for the Wall Street Journal.
- “Russia may be an energy superpower, but it has been overtaken by America, which produces more oil and more gas, and considerably more oil than Saudi Arabia,” Yergin added. “The U.S. is also on the way to becoming one of the world’s major exporters of natural gas, in its liquefied form.” Another reason for Moscow to pressure U.S. production, he said.
- Energy Information Administration: U.S. natural gas production up 10% year/year to 111.5 Bcf/d in 2019, the “highest volume on record.”