All articles tagged with #liquefied natural gas
A Strait of Hormuz closure could hit LNG harder than oil: about 20% of LNG flows pass through the strait, Qatar’s Ras Laffan facilities dominate supply, and restarting LNG after a shutdown would be slow and complex, risking weeks-long disruption and sustained price volatility even with limited global spare capacity.
Louisiana and 15 other Republican-led states have sued the Biden administration over its decision to temporarily halt approvals for new permits for facilities exporting liquefied natural gas, arguing that the pause is illegal and would harm states' economies. The lawsuit, filed in the United States District Court for the Western District of Louisiana, seeks to end the pause, contending that the White House bypassed the regulatory process. The Biden administration's decision to study the impact of gas exports on climate change, the economy, and national security has sparked controversy, with the states claiming that it would have significant long-term consequences and restrict gas supplies to Europe.
President Biden has halted the approval process for new liquefied natural gas export facilities to assess their impact on climate change, the economy, and national security. This decision could jeopardize a proposed $10 billion export terminal in Louisiana and is seen as a victory for climate activists urging the administration to reduce reliance on fossil fuels. The move reflects growing concerns about methane emissions and the energy-intensive process of liquefying and transporting gas.
The Biden administration has halted approvals for liquefied natural gas (LNG) exports to countries without free trade agreements, citing outdated economic and environmental analyses that do not adequately consider climate impact. President Biden emphasized the need to assess the impacts of LNG exports on energy costs, energy security, and the environment. The pause allows for exceptions for national security emergencies, but environmentalists and climate activists have praised the decision, while communities on Louisiana's Gulf Coast, where LNG export facilities were planned, see it as a victory. The temporary halt's impact on specific projects, such as the $10 billion Calcasieu Pass 2 project, remains uncertain.
The Biden-Harris Administration has announced a temporary pause on pending decisions on exports of Liquefied Natural Gas (LNG) to non-FTA countries until the Department of Energy can update the underlying analyses for authorizations, citing the need to consider potential energy cost increases for American consumers, the latest assessment of the impact of greenhouse gas emissions, and the risks to the health of communities. The pause, subject to exception for national security emergencies, aims to integrate these critical considerations. The U.S. remains committed to supporting allies and delivering LNG, while also advancing ambitious climate action and environmental justice initiatives.
A truck carrying 60 tons of liquefied natural gas crashed and exploded in the Mongolian capital, Ulaanbaatar, killing six people, including three firefighters, and injuring at least 11 others. The fire spread to nearby buildings, causing significant damage. Questions have been raised about why the tanker was allowed to travel into a residential area, prompting concerns about city planning and the safety of transporting hazardous materials.
Cheniere Energy has announced a deal to supply 0.8 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to BASF, a German chemical company. This agreement supports Cheniere's Sabine Pass LNG expansion in Louisiana and extends through 2043. Cheniere has previously entered into supply deals with Equinor, Korea Southern Power, and ENN Natural Gas. The United States has become the world's largest LNG exporter due to Western sanctions on Russia, which has led Europe to seek alternative sources of LNG.
Dominion Energy has agreed to sell its 50% stake in the Cove Point liquefied natural gas facility in Maryland to a unit of Berkshire Hathaway for $3.3 billion in cash. Upon closing, Berkshire Hathaway Energy will have a 75% ownership stake in the facility. Cove Point provides liquefied natural gas to replace coal-burning power plants and support energy needs in 28 countries. Dominion plans to use the sale proceeds to repay debt and focus on state-regulated utility operations. The transaction is subject to regulatory approval and expected to close by the end of 2023.