Driftwood will help meet soaring demand for LNG, says co-founder Souki.
Congestion delaying LNG shipments via the Panama Canal is expected to last through the peak demand winter months, traders close to the situation said on Jan. 14, although the canal’s regulator said it had made changes to speed up transit.
If the EIA outlook is correct, 2021 would be the first time U.S. natural gas output falls for two years in a row since 2005, and 2022 would be the first time consumption falls for three consecutive years since 1983.
The U.S. has become a major LNG exporter, mostly due to the ramp up of Cheniere's Sabine Pass terminal in Louisiana.
The scope of the contract, which will be executed from McDermott's Doha office, includes replicating five offshore wellhead platforms, the company said.
EIG's bet in Brazil comes while the state firm Petrobras speeds up asset sales, ending what was nearly a state-held monopoly in natural gas five years ago.
U.S. natural gas futures rose on Dec. 31 and were on track for their best year since 2016, helped by forecasts for slightly colder weather than previously expected and record LNG exports.
The incoming Biden administration signals an acceleration in the energy transition, while fossil fuel producers count on a COVID-19 vaccine to help demand recover.