Skip to 0 minutes and 0 secondsSkeptics are questioning whether the era of new LNG liquefaction capacity in the U.S. is over. Since the start of 2015, over 50 US shale producers have filed for bankruptcy. But shale oil and gas has continued to flow, in part because even when drillers go bankrupt, their existing wells are usually left in production by their creditors. Despite the large supplies of natural gas coming from the US, Australia, Russia, East Africa and the Middle East, many industry analysts and executives expect LNG demand to pick up at some point after 2020 as countries reduce their reliance on coal, in part from international accords on climate change.
Skip to 0 minutes and 47 secondsThe global LNG market is set to increase by 50% between 2015 and 2020, nearly 20 Bcf/day (billion cubic feet per day). By 2020, the United States is set to become the world's third-largest LNG producer after Australia and Qatar. Through 2020, the US and Australia are expected to account for 90% or more new LNG exports. The US could be exporting 12 Bcf/day by 2020, more than current global leader Qatar. More than 4.0 Bcf/d of U.S. liquefaction capacity has long-term (20 years) contracts with markets in Asia, of which 3.2 Bcf/d is contracted to Japan, South Korea, and Indonesia.
US LNG exports
After years of preparation, Cheniere Energy Partners completed loading its first tanker with liquefied natural gas for export at a Louisiana terminal on February 24, 2016.
© Younkyoo Kim, Hanyang University