The Energy And Market Page, T+279 -- October 27, 2017 -- Update On Sabine LNG Terminal -- Keeping America Great

Updates

October 29, 2017: CNBC notes that US oil producers are moving into the Asian market.

• in a shakeup to the established order, U.S. crude oil exporters are moving more cargoes toward Asia
• exports from U.S. "tight oil" extracted from shale formations alone may swell to over 3 million barrels a day by 2022 — with a third of that volume absorbed by Asia, said one economist
• all of this change was kicked off when the Obama administration lifted a 40-year-old ban on exporting domestic oil in December 2015 [and, of course, this being CNBC, no mention of Trump

 Original Post

Graph: if WTI hits $100, that production number will surge. Just saying. 

WTI. Wow, an 8-month high, up over 2% and now almost touching $54.

Markets. Nasdaq on a tear -- up 142 points, up over 2%. Dow up a bit but essentially flat.

NYSE, 172 new highs, including BAX (whoo-hoo); Deere; Marathon Petroleum; UNP; non-DOW new highs Amazon, Alphabet, Microsoft; Jeff Bezos again the richest man in the world, with $90 billion in assets;

• new lows: 74

TSLA: on a day that the Nasdaq surges, sets a new record, TSLA trades lower, down $5, down 1.6%. Just saying. 

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Sabine LNG Export Update

Link here. 

The recently announced expansion of the Sabine Pass liquefied natural gas (LNG) terminal in Cameron Parish, Louisiana, will add to the rapid growth expected in LNG export capacity for the United States under construction through 2019.

The fourth natural gas liquefaction unit—referred to in the industry as a train—at the Sabine Pass LNG terminal is substantially completed.

Train 4 has the capacity to liquefy 0.7 billion cubic feet of natural gas per day (Bcf/d). Cheniere expects to begin commercial deliveries from Train 4 in March 2018. All of Train 4’s capacity has been contracted under 20-year long-term contracts: 0.5 Bcf/d to India’s state-run natural gas company, GAIL (India) Limited, and the remaining volumes to Shell and Cheniere’s global portfolios for trading in the spot LNG markets. GAIL is one of India’s largest LNG importers, with 1.1 Bcf/d of LNG imports in 2017 (44% of India’s total LNG imports). 

Much more at the link.

Track LNG export terminals here. Mind-boggling. Remember -- this is about two years old.