LNG FIDs to Gain Pace: Conference

Following positive financial investment decisions (FID) on 63mn metric tons of new LNG capacity this year, panel members at the CWC World LNG Summit in Rome December 4 identified 100mn mt of further capacity likely to see positive FIDs next year. Despite relatively low prices for spot LNG, owing to recent increases in supply, project developers remain confident that demand for LNG will grow strongly into the 2020s, providing a market for the planned new volumes.

Michael Sabel, co-chief executive officer of US LNG developer Venture Global, expressed confidence that its Plaquemines LNG project would see an FID next year and noted that the first liquefaction train would be onsite at is Calcasieu Pass project "one year from today", with only 100 days having passed since FID was taken on the project. However, work had begun on the site much earlier in the year.

Eric Bensaude, managing director, commercial operations and asset optimisation, for Cheniere marketing, also expressed confidence that next year would see an FID taken on a 10mn mt expansion of the company's Corpus Christi plant.

Speaking earlier, Cristian Signoretto, chief gas and LNG marketing and power office for Italy's Eni, said that its Egyptian Damietta LNG plant would be "reactivated as soon as we can." Eni is targeting a 60mn mt/yr LNG portfolio by 2025, and the Zohr field in Egypt is ahead of schedule in terms of daily gas output.