Q2 North America LNG projects update: Momentum builds

Momentum for North American LNG has continued to build throughout the second quarter of 2022. The ongoing Russian-Ukraine war has altered the global LNG market. Europe is seeking to ease off Russian gas, replacing large quantities with LNG. The additional requirement for global LNG and continued high spot prices has led to growing interest in projects across North America. So far this year, 16.1 mmtpa of new capacity has been sanctioned across North America – 13.3 mmtpa at Plaquemines (Phase 1) and two 1.4 mmtpa Fast LNG units in Louisiana. Later this year, we expect the second Phase of Plaquemines and Cheniere’s Corpus Christi Stage 3 to be sanctioned. We are also watching Tellurian’s Driftwood LNG closely.