U.S. gas producers have a New Year’s resolution of their own: break into the top three liquified natural gas (LNG) exporters alongside Australia and Qatar. And they just might pull it off — provided that serious infrastructure bottlenecks are addressed in time.
The United States has been exporting LNG since February 2016 when Cheniere’s (NYSE:LNG) Sabine Pass facility shipped its first cargo out of Louisiana. The terminal has since expanded from just one gas liquefaction facility (known as a ‘train’) to five, capable of processing over 3 billion cubic feet of gas per day (Bcf/d). Cheniere’s new Corpus Christi terminal in Texas is also up and running, with two more trains scheduled to be completed by 2021, totaling close to another 3 Bcf/d.
