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Increase in US LNG Capacity Not Expected Until 2024

LNG

Limited new US liquefaction capacity is expected in 2023 with new projects not forecast online until at least 2024 according to S&P Global.

  • New Fortress Energy is hoping to add one or more 1.4mtpa floating export facilities in the Gulf Coast in 2023.
  • The first phase of Venture Global’s 20mtpa Plaquemines LNG facility is expected in 2024 and the 18.1mtpa Golden Pass LNG terminal is expected to start production in late 2024.
  • More facilities should come online from late 2024 onward although many are still awaiting final investment decisions.
  • Cheniere Energy recently estimated an annual global LNG growth rate of 2% compared to a rate of more than 10% in 2018.

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