September 27, 2024 15:11 GMT
LNG: Six Month LNG Project Delays Could Halve Additional Supply in 2025
LNG
New LNG supply next year could more than halve from 22.8m tons additional supply to 9.3m tons if upcoming projects are delayed by six months as several assets have already pushed back timelines, according to BNEF.
- Nine projects are expected to come online between October 2024 and March 2026 with equivalent to 8% of total global supply last year.
- Longer commissioning could lower production ramp-up rates and reduce cargo loading estimates.
- Venture Global’s Plaquemines Phase 1 is anticipated to start in November, Cheniere Energy’s Corpus Christi Stage 3 in December and BP’s Tortue floating LNG project is aiming for an end-of-year start.
- Other projects possible for mid to late next year are Shell’s Canada LNG project, Sempra’s Energia Costa Azul in Mexico, Darwin LNG restart and Golden Pass.
Source: BNEF
Keep reading...Show less
126 words