LNG (ASX) U.S. Seeking to Boost LNG exports, $40.5B

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U.S. seeking to boost liquefied natural gas exports; $40.5B in LNG projects approved in Louisiana.
TOKYO — A top U.S. energy official said Monday that Asia is the center of growth in energy demand and offers a great opportunity to expand American liquefied natural gas exports — much of it already flowing out of Louisiana to foreign markets.

U.S. Deputy Secretary of Energy Dan Brouillette told reporters in Tokyo that the U.S. is working with Japan and others to build facilities for U.S. LNG exports and improve their energy security. Japan is the world's biggest importer of LNG.
"The world is right here in Asia," Brouillette said. "Demand for LNG is very, very high here. There is an enormous amount of opportunities not only for U.S. businesses but also for Japanese businesses as well as other Asian businesses."

In all, projects that are under construction or have been approved total $40.5 billion, according to Louisiana Economic Development. Another $52 billion in projects have been announced but not yet approved. More than 10,000 direct and indirect jobs are promised from the planned projects.
At least two of those have approval and are awaiting construction: Lake Charles LNG, a $9 billion project by Shell and Energy Transfer; and Magnolia LNG, a $3.5 billion facility from Australia-based Liquefied Natural Gas Ltd.

Japanese Minister of Economy, Trade and Industry Hiroshige Seko, speaking at the LNG Producer-Consumer Conference in Nagoya, in central Japan, promised to expand Japan's support for projects jointly sponsored by private enterprise and the government to supply LNG and build infrastructure in Asia. He said Japan is seeking to create a 50 million ton LNG market in the region and is already cooperating with the U.S.

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Despite tariffs, Asia to be strong market for U.S. LNG, expert says.

While the trade dispute between the U.S. and China has triggered an import tariff on U.S. liquefied natural gas, Asia will continue to be a stronger market for U.S. LNG exports than Europe, an expert said Wednesday.
The forecast would be good news for Louisiana’s booming LNG export industry, which has taken off in recent years and has several mega-projects on the drawing board.
“Gas is going to go where it generates the biggest bottom line for companies, and for the time being, I think that’s going to continue to be Asia,” said Ron Ripple, a University of Tulsa professor who spoke as part of the annual LSU Energy Summit.