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LNG Project Tracker: Commercial talks pick up as field of developers shrinks
Some U.S. LNG developers expressed a renewed optimism in recent months that growing interest among world buyers in signing long-term supply deals will boost the prospects for commercially sanctioning new LNG export projects in 2021, following a year marked by a lack of final investment decisions.
More than a dozen LNG developers in North America are competing to advance their projects to construction amid a strong rebound in LNG demand. But so far this year, the pool of potential U.S. LNG projects has already gotten smaller, with Exelon Corp.-backed Annova LNG’s recent decision to cease development of its proposed export facility in Texas, citing “changes in the global LNG market.” Analysts expect more projects will fall by the wayside.
Source: Mischa Keijser/Getty Creative via Getty Images
Some U.S. LNG developers expressed a renewed optimism in recent months that growing interest among world buyers in signing long-term supply deals will boost the prospects for commercially sanctioning new LNG export projects in 2021, following a year marked by a lack of final investment decisions.
More than a dozen LNG developers in North America are competing to advance their projects to construction amid a strong rebound in LNG demand. But so far this year, the pool of potential U.S. LNG projects has already gotten smaller, with Exelon Corp.-backed Annova LNG s recent decision to cease development of its proposed export facility in Texas, citing changes in the global LNG market. Analysts expect more projects will fall by the wayside.