- due to lack of LNG demand, Sempra Energy delayed its decision to proceed with an LNG export project at Port Arthur, TX
- US LNG export facilities are tracked here; interestingly, at the very top, that's how big a deal this was at one time:
- Port Arthur, TX: Sempra, Saudi Aramco -- joint ventures and expansions.
- this was supposed to have been Saudi Arabia's first foray into LNG as part of the state oil giant's plan to become a major global player in the gas market
- right now, it make sense but I keep thinking that Prince MbS's Vision 2030 plan continues to fall apart;
The tea leaves suggest it's only going to get worse for Saudi Arabia. Think about this. In 2011, Saudi Arabia was getting $120 for each bbl of oil it sold; now the country is lucky to get $20 for each bbl. That's insane. It speaks volumes on how much money the Saudis blew through on sports cars and casinos.
OPEC basket, today, May 22, 2020: $28.43.