The Heat Is on for Natural Gas
Someone woke up this morning at a Washington think tank to report natural gas is no longer “seen” as a short-term bridge fuel. Meanwhile, the rest of the world is too busy locking down long-term gas supply to comment. Reese Energy Consulting today is following a flurry of natural gas news and we’re not just talking record demand in Texas.
With another long-term supply agreement now tucked under its belt, Venture Global is well on its way to start shoveling dirt this year on its second LNG terminal in Cameron Parish, La., CP2 LNG. The latest deal for 2.25 mtpy to a state-owned German company makes Venture Global the largest long-term LNG supplier to all of Germany. The country is currently in a mad dash to build up its import terminals and add more capacity with FSRUs in a quest to sever its ties with Russian pipelined gas.
Cheniere has announced its second long-term deal with China’s ENN for 1.8 mtpy from Sabine Pass, which is under expansion to add three trains with 20 mtpa of LNG capacity. The nation’s largest LNG operator cites China’s fast-growing natural gas market as ripe with potential.
Italian energy behemoth Enni will acquire London-based Neptune Energy for $4.9 billion as part of Enni’s strategy to boost its natural gas and LNG division, which last year played a starring role in the company’s record earnings.