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How Sustainable Is This Rally?

Friday, March 11, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. U.S. joins LNG export market

- Cheniere Energy’s Sabine Pass export facility came online in recent weeks, which means that the U.S. has joined the ranks of global LNG exporters. 
- Four other LNG export terminals are under construction. Three are on the Gulf Coast, including Cheniere’s Corpus Christi LNG project (capacity: 2.14 Bcf/d. Startup by 2018); Sempra Energy’s (NYSE: SRA) Cameron LNG terminal (capacity: 1.7 Bcf/d. Startup by 2018); and Freeport LNG (capacity 1.8 Bcf/d. Startup by 2019). Dominion Energy also has the Cove Point facility under construction on the Chesapeake Bay in Maryland (capacity 0.82 Bcf/d. Startup by 2017).
- Federal regulators have approved one more project – Southern Union’s (NYSE: SUG) Lake Charles terminal – but construction has not begun. 
- There are an estimated 9 additional projects pending review by the Federal Energy Regulatory Commission (FERC), but even if approval is forthcoming, market conditions will prevent many, if not all, from moving forward with final investment decisions.

2. Oil speculators turn bullish

(Click to enlarge)

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