• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 18 hours "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 2 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 7 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 12 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 5 days The Federal Reserve and Money...Aspects which are not widely known
  • 3 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 9 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 12 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 13 days Goldman Betting on Cryptocurrencies
  • 16 days Сryptocurrency predictions

U.S. Greenlights Commonwealth LNG Project

The Commonwealth LNG project received the unanimous approval of energy regulators this week despite concern expressed by Democrats about its carbon footprint.

Per its website, the project will have a capacity of 8.4 million tons of liquefied natural gas annually and should begin operation in 2027. Located on the Louisiana Gulf Coast, the facility will also include six 50,000-cu m storage tanks and the capacity to accommodate vessels up to 216,000 cu m.

 The facility will receive feed gas via an interconnector to “two major pipeline systems with significant excess transportation capacity.”

Commonwealth already has a long-term offtake commitment from Woodside Energy Trading, a subsidiary of the Australian energy major, which will see the trading company buy LNG from the Commonwealth facility over a 20-year period.

The deal is for 2.5 million tons of liquefied natural gas annually, with the first shipments scheduled for the middle of 2026. The initial contracted volume is 2 million tons, with an option for an additional 500,000 tons.

“The agreements secure for Woodside low-cost LNG volumes in the Atlantic Basin in a period of expected strong demand as Europe seeks alternatives to Russian pipeline gas,” said Woodside’s chief executive, Meg O’Neill, in comments on the deal announced in September. 

Reuters noted in a report on the approval news that this is the first new LNG project to earn the approval of the Federal Energy Regulatory Commission in the last two years. 

The chairman of the commission, however, voiced concern about the emissions footprint of the facility, which will generate an estimated 3.5 million tons of carbon dioxide annually. 

“I still am at a loss as to why we don’t at least assess the significance of the greenhouse gas emissions in terms of making our determination ... and I think it is something we need to grapple with as we move forward,” Rich Glick said.

By Irina Slav by Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News