Freeport LNG on March 20 said its Train 2 liquefaction unit at the Texas plant has been shut down, while Train 1 will be taken down imminently as it expects inspections and any subsequent repairs at both the units to be completed by May.
The agreement with Texas LNG Brownsville calls for a 20-year free on-board sale and purchase agreement of 0.5 million tonnes per annum of LNG for a Gunvor Group subsidiary.
Sawan said LNG will continue to play a critical role adding that LNG currently makes up around 13% of gas sales but was expected to grow to around 20% in the coming 15 to 20 years.
TotalEnergies CEO Patrick Pouyanné said during CERAWeek by S&P Global that Texas was important for his company, which he jokingly called the French company’s “El Dorado” due to the state’s love for oil, gas and renewables.
U.S. Energy Secretary Jennifer Granholm said she expects the review of LNG exports to be in the “rearview mirror” by next year.
Venture Global plans to deliver the vessels, which are currently under construction in South Korea, starting later this year.
The global LNG market is not currently tight, Gunvor Chairman Torbjörn Törnqvist said at CERAWeek, contradicting the view shared earlier in the day by TotalEnergies.
An Enterprise Partners executive said conditions make for a strong LNG export market at an industry lunch on March 14.
Increased geopolitical risk and the shift from fossil fuels to renewables are pulling the world in different directions, and the U.S. will be called to play a significant role in the global tug of war.
While existing offtake agreements have been spared by the Biden administration's LNG permitting pause, the ramifications fall on supplying the Asian market post-2030, many analysts argue.