LNG FID Tracker Q1 2023 Report

Insight 08 March 2023

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Report summary

The foundations have been laid for significant volumes of new supply to take FID over the next two years. North American projects are underpinned by contracting momentum. Large scale projects in the middle east are also expected to be sanctioned. Buoyed by record contracting a host of North American LNG projects have moved forward. Several projects have now reached the contracted offtake thresholds required for raising debt. These projects are fully permitted and have signed or are negotiating EPC contracts. As such, we could see a wave of final investment decisions (FID) during 2023 and 2024. Leading the charge is Sempra’s Port Arthur and Venture Global’s Plaquemines Phase 2. Outside the US, Qatar handed out equity positions in its North Field East and South projects. We expect North Field South to be sanctioned in the first half of 2023. ADNOC is also making progress on Fujairah LNG. FID is possible in the second half of 2023.