Project will allow Strike Energy to bolster its share of the region’s gas market.
Gas plays a critical role in combating air pollution and achieving net-zero goals, however, analysts with Wood Mackenzie say the global gas industry of the future must become synonymous with ESG.
The agency cites business closings as a result of lockdowns.
"Natural gas is an affordable, reliable, cleaner burning global fuel source, and we are confident in gas playing an increasingly important role in the global energy mix for many years," Cheniere CEO Jack Fusco says.
Power generation demand, LNG exports and reduced production will combine to push prices higher than the market anticipates.
Front-month natural gas futures rose 11 cents, or 3.8%, to settle at $3.023/MMBtu. That was their first close over $3 since January 2019 and puts the contract up almost 70% from a recent low.
The waterway sits on the Texas-Louisiana border and connects the Gulf of Mexico to Cheniere Energy's Sabine Pass LNG export plant and to oil refineries in Port Arthur and Beaumont, Texas.