LNG Growth Met by Other Countries if US Walks Away: Baker Hughes

Demand for LNG will be met by the likes of Qatar, Argentina, and Africa if the US refrains from permitting further LNG export plants, according to Baker Hughes CEO Lorenzo Simonelli via Reuters.

• "We believe by 2030 there needs to be an installed base capacity of LNG of 800m mtpa and either through U.S. projects or international projects," Simonelli said.
• "If you look at projects in Africa, you have the Rovuma project. In Argentina, we know they have plenty of gas. There are plenty of opportunities internationally as well as floating LNG," he added.
• The Biden administration temporarily paused issuing new licences for LNG exports while it assesses the environmental impacts.
• This has raised concerns that the uncertainty will turn customers away from prospective US facilities with licences still pending.
• Qatar has significant production expansions, while Argentina’s Vaca Muerta shale play has the world’s second-largest shale gas reserves.