• 1 hour Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 3 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 7 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 7 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 7 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 7 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
The Approaching U.S. Energy-Economic Crisis

The Approaching U.S. Energy-Economic Crisis

The connection between energy and…

Trump’s Iran Decision Haunts Big Oil

Trump’s Iran Decision Haunts Big Oil

Donald Trump’s Iran decision has…

Cameron LNG Gets Go-Ahead for Export Expansion

LNG Cameron

Cameron LNG, Sempra Energy’s liquefied natural gas export terminal in Louisiana, has received approval for a planned expansion in the amount of gas it exports to countries that don’t have a free-trade agreement with the U.S. The 1.41 billion cu ft/day increase will bring the terminal’s total to 3.53 billion cu ft/day.

Sempra Energy is currently in the process of building the first three liquefaction units, or trains, of Cameron LNG. For the expansion, it will build another two trains, plus a fifth full-containment LNG tank. The first LNG is planned to be produced in 2018, with full-scale production scheduled for 2019. The project’s value is around US$10 billion.

Cameron LNG is one of a number of new LNG projects set to turn the U.S. into a major rival for LNG exporters such as Qatar and Australia. However, global demand is starting to lag behind supply and some LNG projects are being shelved. The latest in this respect was Canada LNG: the Shell-led consortium set up to build an export terminal on the coast of British Columbia announced last week it will delay the start of construction due to weak gas prices.

LNG has been touted as the next star on the hydrocarbon scene since it’s cheaper and cleaner than crude oil. As a result, a number of large-scale projects have sprouted across the world, including the Gorgon and Wheatstone off the Australian coast, operated by Chevron, Cheniere Energy’s Sabine Pass terminal, and Italian Eni’s Coral development in Mozambique. With so much supply coming on stream and unsteady demand growth, prices have understandably tanked, and large projects have become temporarily unviable.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • JHM on July 19 2016 said:
    How will this ever break even? Spending $10B for 1.41 BCF/day capacity works out to about $1 per thousand CF in capex over 20 years operating at full capacity. Sounds like a horrible investment, unless the point is simply to raise gas prices in the US by squeezing captive ratepayers.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News