The Canadian LNG industry has been slower than its U.S. counterpart to take advantage of soaring gas demand around the world and build export plants, in part due to securing feedstock supplies for the terminals.
A gap is emerging in the U.S. LNG industry as big players such as Exxon Mobil and Cheniere Energy race ahead to build export terminals without new long-term contracts.
China's natural gas demand is expected to reach 307 billion cubic meters (Bcm) this year, an increase of just 10% from 2018, an official of state-run Sinopec Gas Co. said on Oct. 15, as a slowing economy hits consumption.
Exxon Mobil plans to invest more than $500 million in the initial construction phase of its Rovuma LNG project in Mozambique with an FID for the $30 billion project expected by 2020.
The Elba Island facility is one of half a dozen in the country beginning to produce LNG for export, contributing to soaring supplies of fuel globally which has upended gas markets in Europe and Asia.