Half of Cheniere’s US LNG exports heading for Europe

Half of Cheniere's US LNG exports heading for Europe

Cheniere could see half of its US LNG supply reaching Europe in the future, but buyers might re-export some of the cargoes to other markets.

Speaking at the EAGC conference in Geneva, Cheniere Marketing President Jean Abiteboul said prices will determine the final destination of the cargoes, as uncertainties over LNG demand in China and India remain, Platts reports.

Abiteboul said that, due to the fact that there were no destination clauses in Cheniere’s contracts, buyers could reload cargoes in Europe and ship them to Asia or even South America.

He noted that Europe currently has enough spare capacity to receive new LNG supply as its regasification facilities were running at around 30 percent.

Cheniere, that is currently building two LNG export projects in the United States, the Sabine Pass and Corpus Christi liquefaction projects, will supply 30 percent of the Spanish gas market under long-term contracts.

The company will also be covering 5 percent of the total European gas market with 16 million tons a year of LNG, from its total 31.5 million tons of initial LNG production capacity, booked on long-term deals.

 

LNG World News Staff; Image: Cheniere

Share this article

Follow LNG World News

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >