2024-02-18 22:31:04
Liquefied natural gas (LNG) from the United States in 2024-2025 will continue to replace supplies of Russian pipeline gas to Europe, according to the Energy Information Administration (EIA) of the US Department of Energy, Day.Az reports with reference to TASS.
“We anticipate that U.S. LNG will continue to replace natural gas exported from Russia via pipelines to Europe over the forecast period. With global LNG liquefaction capacity expansion expected to be limited over the next two years, demand for flexible LNG supplies, primarily from the U.S. will grow to meet increased global demand,” the organization said in its report.
At the same time, natural gas prices in European and Asian hubs will remain relatively high in 2024 and 2025 compared to gas prices in the United States.
The United States will continue to increase its LNG capacity for the foreseeable future. As of the end of 2023, the US base LNG export capacity was 11.4 billion cubic meters. feet per day, and by the end of 2025 the companies will add another 5.3 billion cubic meters. feet per day, EIA notes. Three new LNG terminals are being prepared for launch in the second half of 2024 and 2025: Golden Pass and Corpus Christi Stage III in Texas and Plaquemines LNG in Louisiana. However, any changes in the timing of their commissioning could significantly affect exports and expected demand.
The suspension of permitting by the US authorities for the implementation of new LNG projects will not affect the increase in capacity until 2025, since these projects have been fully approved by the Ministry of Energy and are already under construction, the department noted.