A floating liquefied natural gas port proposed for offshore Louisiana is gaining new momentum as global demand for gas keeps soaring, pushed higher by the Ukraine war, reports the Houston Chronicle.
Houston-based pipeline company Delfin Midstream said last week it reached a preliminary agreement with oil and gas producer Devon Energy, which plans to buy up to 2 million metric tons per year from Delfin LNG.
The LNG project’s progress had stalled for years before the war in Ukraine sparked a global energy crunch and drove new interest in natural gas projects in Texas and Louisiana. Now, global buyers are reviewing LNG companies along the Gulf Coast, hunting for competitive prices, low emissions and proof of speedy execution as they decide on projects to which they can commit.
Floating terminals are grabbing attention from investors for their potential to come online more quickly, while onshore LNG projects typically take years to develop. Read the entire story.