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Future LNG Supply Reduced by LNG Project Delays

LNG

LNG market will lose an estimated 49.6m tons of supply between 2023 and 2026 from delays at the liquefaction projects Arctic 2 LNG (Trains 1-2), Mozambique LNG, LNG Canada and Baltic LNG according to Bloomberg.

  • The two modular projects of Cheniere Energy’s Corpus Christi Stage 3 and Venture Global LNG’s Plaquemines Phase 1 that reached final investment decision in 2022, will not fill the supply gap until 2027.
  • New Fortress Energy’s two Fast LNG projects in US can be built in around a year and have the potential to add 2.8m tons of LNG capacity.
  • Rio Grande LNG, Port Arthur LNG and Lake Charles LNG are close to a final investment decision, but commercial deliveries are not expected to start until 2026 or 2027.
  • Venture Global is close to adding liquefaction capacity between 2025 and 2027 from Plaquemines Phase 2 and CP2 LNG.

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