GLNG: US to approve record volume for new LNG projects this year

US LNG developers are on schedule to approve three export projects before the end of summer, Reuters reported on June 24. The three new facilities boast a combined production capacity of 5.1bn cubic feet (144mn cubic metres) per day, which represents a record volume for new LNG projects in a year.

Two of the new LNG export terminals have already had construction approved. Venture Global LNG’s Plaquemines Phase Two was given a successful final investment decision (FID) in March. The expansion of the Louisiana project will add 1.2 bcf (34 mcm) per day.

Similarly, Sempra Energy also reached FID in March for its 1.8 bcf (51 mcm) per day project based in Port Arthur, Texas. The $13bn LNG export terminal was delayed for almost two years due to coronavirus and cuts in demand.

Meanwhile, NextDecade Corp’s Rio Grande LNG project is targeting FID to be taken before the end of the second quarter. The project gained significant momentum earlier in June when TotalEnergies and Global Infrastructure Partners signed framework agreements with NextDecade.