Final investment decision has not been made on proposed $8 billion LNG export facility
By BECKY GILLETTE
Gulf LNG Energy invested $1.1 billion in a facility in Pascagoula to import liquified natural gas (LNG), which is natural gas cooled down to liquid form to make it easier to transport. Two tanker shipments of LNG were offloaded at the facility in 2011. But then the energy world turned upside down. Shale gas production came into widespread use which completely flipped expectations of a natural gas shortage in the U.S.
The country now has an excess of natural gas.
The United States exported more natural gas than it imported in 2017, marking the first time since 1957 that the United States has been a net natural gas exporter, said the U.S. Energy Information Administration. The transition to net exporter occurred as natural gas production in the United States continued to grow, reducing pipeline imports from Canada and increasing exports, both by pipeline and as LNG. Natural gas production in the United States increased significantly over the past decade. The United States surpassed Russia in 2009 as the worlds largest natural gas producer as shale gas production drove overall increases in natural gas production.
With the boom in natural gas production in the U.S., there has been a movement by Gulf LNG Liquefaction Company, LLC (GLLC), an affiliate of Gulf LNG Energy, LLC (GLE) and Gulf LNG Pipeline, LLC, (GLP), proposing the Gulf LNG Liquefaction Project, which would add liquefaction and export capabilities to the existing Gulf LNG Terminal located in Jackson Cou....