LNG Startup | Russell T. Rudy Energy LLC
Times have really changed. This week the first crude exports in 40 years will leave Texas ports. “Rigzone” reports that the first Liquefied Natural Gas (LNG) cargo to leave the Lower 48 is scheduled for later this month as well. All of this is a result of the shale revolution.
ING Capital LLC has announced that this first ever LNG shipment will leave its Cheniere terminal at Sabine Pass, LA, under contract with UK based BG Group. The Cheniere facility is just the first in a series of LNG projects scheduled to begin LNG exports from the U. S. Some analysts predict that total U. S. LNG exports could reach 7.76 billion cubic feet of gas per day (bcfd) by 2019.
This is quite a change for Cheniere and the U. S. energy industry. Prior to the shale revolution, the company was building LNG import terminals in anticipation of a shortage. Now the Sabine Pass facility is scheduled to handle $3.5 bcfd through at least six parallel processing trains by late 2018. The plant is estimated to cost $15 billion.
To read the article in its entirety, please go to http://www.rigzone.com/news/oil_gas/a/142296/Cheniere .
