Natural Gas In The US: Less Than A Dime To $10; Update: US LNG Export Terminals -- August 22, 2022

The big question today: will Dennis Rodman travel to Russia today?

• is he fully vaccinated and double booster?

Apple: serial numbers at Apple no longer "serial," random

• will increase number of digits from parts numbers from seventeen to eighteen digits
• link here.

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Back to the Bakken

The Far Side: link here.

WTI: $90.35

Natural gas: $$9.904. Less than a dime to $10.

Active rigs: 46.

Wednesday, August 24, 2022: 14 for the month, 45 for the quarter, 384 for the year

• None.
  

Tuesday, August 23, 2022: 14 for the month, 45 for the quarter, 384 for the year

• None.

Monday, August 22, 2022: 14 for the month, 45 for the quarter, 384 for the year

• 38371, conf, CLR, Fuller 8-2H1, Little Knife,
  

Sunday, August 21, 2022: 13 for the month, 44 for the quarter, 383 for the year

• None.

Saturday, August 20, 2022: 13 for the month, 44 for the quarter, 383 for the year

• 38370, conf, CLR, Fuller 7-2H, Little Knife, 

RBN Energy: as the US races toward 30 Bcf/d of LNG exports, what could it mean for upstream markets?

The momentum for U.S. LNG right now is powerful. 

With Europe’s efforts to wean itself off Russian natural gas boosting long-term LNG demand and Asian consumption expected to grow even further, there has been a strong push for new LNG projects in North America. 

So far, that has helped propel two U.S. projects, Venture Global’s Plaquemines LNG and Cheniere’s Corpus Christi Stage III, to reach a final investment decision (FID). 

With these two projects getting a green light, total export capacity in the U.S. will be at least 130 MMtpa — or 17.3 Bcf/d — by mid-decade. 

That top-line export capacity could be much higher, however. There are currently eight U.S. Gulf Coast pre-FID projects with binding sales agreements, and a handful of projects that are fully subscribed in credible non-binding deals. 

If all those projects go forward, it would add a staggering 86 MMtpa (11.4 Bcf/d) of export capacity to the U.S., pushing the total toward 30 Bcf/d, or 225 MMtpa. In today’s RBN blog we look at U.S. LNG under development, how high export capacity could go, and the implications for the U.S. natural gas market.

I remember years ago nay-saying readers telling me that "we" would never see such an increase in US LNG export terminals. I assume these readers are still extolling the virtues of solar and wind energy.