UPDATE 1-Tellurian on the way to start building an LNG export facility in Louisiana in 2019 | Energy and oil



(Adds Company Comment on Pipeline)

US Liquefied Natural Gas Company Tellurian Inc. said on Wednesday it expects to launch a LNG Driftwood production plant in Louisiana in the first half of 2019 and start operations in 2023.

CEO Meg Gentle said in the company's third quarter results that Tellurian will announce a $ 27.5 billion project to partners by the end of 2018.

Driftwood is one of dozens of export LNG projects in the United States that are developing customers, so they can begin building and going into operation over the next decade to meet the growing global demand for fuel.

Natural gas exports from the US nearly tripled from 203 billion square meters in 2016 to 706.4 billion crowns worth about $ 3.3 billion in 2016 and peaked at $ 1,000 billion in 2018, the country has become one of the world's largest exporters of excessively cooled forms of natural gas.

One billion cubic feet of gas is enough to fuel about 5 million US homes a day.

Including existing facilities, US LNG export capacity is projected to decrease from 3.8 billion cubic feet per day (bcfd) to 5.2 billion crowns by the end of the year, by the end of 2019 to 8.9 billion and by the end of 2020 CZK 10.3 billion.

Tellurian said that about 35 customers were interested in partnering with gas from the project and buying gas from it.

Unlike most of the other LNG exports to the US, which will be used for gas, Tellurian offers customers the opportunity to meet their gas needs by investing in a range of services ranging from production to piping and liquefaction.

Besides the LNG terminal, Tellurian also develops gas pipelines for shale gas transportation in Texas and Louisiana to LNG terminals and other Gulf Coast customers.

The company has proposed launching two of these lines in 2022 – Permian Global Access and Haynesville Global Access.

Tellurian's partners include Total SA, General Electric Co. and Bechtel, who have signed a $ 15.2 billion project-centric liquefaction facility. Pipeline inventories, reserves and other costs are the rest of the $ 27.5 billion project cost.

Driftwood will have the capacity to produce 27.6 million tonnes per year of LNG or about 4 bcfd of gas.

Reporting Scott DiSavino; Editing Chris Reese and Lisa
Shumaker


Source link