U.S. LNG project approvals on track for record new volumes

U.S. liquefied natural gas (LNG) developers are on track to approve three export projects capable of processing 5.1 billion cubic feet per day of gas in the first half of the year, a record volume for new LNG projects in any year, reports Reuters.

U.S. LNG developers this year have already approved the construction of two projects: the second 1.2-bcfd phase of Venture Global LNG’s Plaquemines in Louisiana and Sempra Energy’s 1.8-bcfd Port Arthur in Texas.

The U.S. became the world’s largest LNG producer by installed capacity in 2022 driven by the boom in LNG plant construction and a decade of surging shale gas discoveries. Read the entire story.