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US seeks to project power through energy exports

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LNG Industry,

According to the latest Reuters report, the US is promoting a golden era of energy business by seeking to assert power abroad through a boost in natural gas, coal and petroleum exports.

The US are re-branding efforts to export LNG to markets in Eastern Europe and Asia that had been set in motion during the previous presidential administration.

The US also will offer to export coal to Ukraine, where energy consumers often have suffered from cuts in natural gas supply by Russia.

President Trump plans to promote US LNG exports at a meeting next week in Warsaw with a dozen leaders from central and eastern Europe, a region heavily reliant on Russian supplies. Trump then will meet Russian President Vladimir Putin on the sidelines of a Group of 20 summit in Germany, in the first meeting between the two leaders.

After decades of being a major importer of natural gas, the US is set to become a net exporter of gas later this year or in 2018 thanks to the boom in fracking in states such as Texas and Pennsylvania.

There is currently one operating US LNG exporting facility in Sabine Pass, Louisiana, with four others currently under construction that are expected to become operational between 2018 and 2020.

As the US aims to boost LNG exports, it will compete for markets with Australia, Qatar and Russia, other major gas producers.

Earlier this month, Cheniere Energy Inc delivered the first US cargoes of LNG to Poland and the Netherlands.

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