Counting down the top dozen #USLNG developments of 2020 (in our opinion)...

12. Magnolia. Glenfarne Group acquired Magnolia LNG from Australia-based LNG Ltd. on June 09 adding this 8.8 mtpa project in Lake Charles, La., to its global gas
infrastructure portfolio which also includes the 4.0 mtpa Texas LNG Brownsville project. #USLNG #LNG

11. Tellurian. Company founders Charif Souki (Cheniere) and Martin Houston (BG Group) resumed hands-on management of @Tellurian and added Sempra LNG veteran Octávio Simões as President & CEO.

10. Cove Point. @DominionEnergy reduced its equity in
the Cove Point (Md.) USLNG export project to 50%, selling 25% to Berkshire Hathaway Energy. BHE became the project operator of Cove Point on Nov. 02. #USLNG #LNG

9. China Trade Thaw? Partially honoring its Phase 1 U.S.-China trade deal commitments, China resumed USLNG purchases in March and China’s Foran Energy Group announced a five-year, 26 LNG cargo deal with @Cheniere on Nov. 06. #USLNG #LNG

8. Construction Progress. Golden Pass (Texas) and Calcasieu Pass (La.) projects made progress (despite pandemic/storms), with Calcasieu getting equip. modules from @ChartInd and @bakerhughesco . Corpus Train 3 started commissioning as construction by @Bechtel ended. #USLNG #LNG

7. Debottlenecking. In its Q3 call @Cheniere announced ≈7 mtpa more LNG to come from Sabine Pass and Corpus Christi. Also, Golden Pass LNG ( @qatarpetroleum and @exxonmobil) asked FERC for a 2.5 mtpa capacity increase (to 18.1 mtpa) after optimization. #USLNG #LNG

6. Energía Costa Azul. @SempraEnergy took a FID on the ECA LNG project in Baja, Mexico, on Nov. 17. The only liquefaction project worldwide to reach FID in 2020, ECA Phase I will produce 3.25 mtpa using U.S. natural gas. Partners/offtakers include @Total and Mitsui. #USLNG #LNG

5. Hurricanes. Two major storms ( #Laura Aug. 27 and #Delta Oct. 09) hit Cameron Parish, La., head-on, knocking out electricity to @Cameron_LNG for a month, but doing little damage there or to Venture Global’s Calcasieu Pass LNG project under construction. #USLNG #LNG

4. 30-Year Permits. DOE finalized new policy allowing USLNG export authorizations to non-FTA nations to be extended to 2051. (Standard term for LNG authorizations had been 20 years.) By year-end, most authorization holders had requested/received extensions. #USLNG #LNG

3. Second Wave All Permitted. @FERC and/or @fossilenergygov issued final LNG project authorizations for Jordan Cove, Alaska, Rio Grande, Texas, and @AnnovaLNG projects, bringing number of federally authorized USLNG projects to 21 (approx. 200 mtpa). #USLNG #LNG

2. Optionality. In 2020’s oversupplied #LNG market (mostly due to COVID-19), modest “take-or-pay” clauses in #USLNG contracts saved offtakers $millions as U.S. production was reduced to balance market. (An estimated 175-200 USLNG cargoes cancelled from June to Nov. 2020.)

1. First Wave. First six USLNG projects now fully operational and by YE were producing near capacity (≈73 mtpa), and consuming ≈11 bcf/day of #NatGas (≈12% of U.S. production). USLNG capacity is now approaching that of Qatar (77 mtpa) and Australia (88 mtpa). #USLNG #LNG