Friday, June 03, 2022

US aims to be the top LNG exporter, Gulf residents fear rising damage, UA war made demand greater



 As natural gas expands in Gulf, residents fear rising damage. Greenhouse gases are fueling extreme weather, from wildfires to violent storms like the ones that have pummeled the Gulf.

Russia-Ukraine conflict made demand for LNG even greater.

In January, the US hit the LNG export record of 7.22 million tons and became the world’s largest exporter for the first time, surpassing the Middle Eastern powerhouse Qatar and the champion of 2021 – Australia.

From there, the US and Qatar started a two-horse race for dominance in the global LNG market. After the US held the top spot for 3 months, Qatar reclaimed the crown in April with 7.5 million tons of LNG export, according to data from Bloomberg and Reuters.

As the Russia-Ukraine conflict made demand for LNG even greater, especially in Europe, the crisis is spurring even greater interest in ramping up natural gas exports from the Gulf Coast.

Aside from the existing 5 LNG terminals along the Gulf Coast from Texas to Louisiana, there are currently 16 new terminals and expansion projects proposed or under construction, according to a motion graphic from the Associated Press.

However, the move, though profitable, is described to be controversial, which does not mix well with President Biden’s plan to cut greenhouse gas emissions. In southwest Louisiana, the flare at the Venture Global LNG Calcasieu Pass terminal burns day and night, which is quite alarming to the surrounding neighborhoods.

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