ROCKMAN wrote:So let's chat about the dynamics of moving LNG around the globe. Some loud voices in D.C. think the US could help our EU cousins by shipping some of our "excess" NG to them. At the same time some other folks in D.C. are arranging just the opposite movement. Any future LNG imported into New England will come from the Atlantic Basin market...the same market the EU currently receives much of its LNG from.
Reuters - U.S. energy regulators said on Thursday construction of the proposed Downeast project in Maine would pose little harm to the environment. Downeast is a proposed LNG IMPORT terminal. FERC said Downeast LNG would provide about 500 million cubic feet per day of imported natural gas to the New England region.
I wonder what our EU cousins will think if we start importing "their" LNG making them more dependent on Russian NG imports. it wouldn't be personal...just business.
BTW the last number I have for LNG imports to the UK was 500 bcf/year. About half of what they were getting before the Asian market began outbidding them. Just the Downeast terminal represents about 180 bcf/year that will be potentially be taken from the Atlantic Basin market.
ROCKMAN wrote:Sub - Yep and with a shift away from the US petrodollar it will require more on our part to keep importing "our fair share" of those fossil fuels. But as difficult as that competition may be for the US consider how much more difficult for the other global economies. Again consider England's LNG imports. They've already lost half of their supply to higher bidders in Asia. And despite the shale boom the US still has to import 7% of its NG consumption. And there's already talk of a potential shortfall of US NG storage next winter. Last winter some utilities in New England had to pay more than twice on the spot market then what the Brits were paying for their LNG at the time. With increased LNG import capacity on the east coast how much more of their LNG market might the Brits lose to the US in addition to Asia?
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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