The top U.S. exporter of LNG shipped a total of 638 cargoes last year, with slightly over 70% delivered to Europe, Chief Operating Officer Corey Grindal said at the CERAWeek energy conference.
Cheniere last year gave the financial go ahead for an
expansion of its Corpus Christi, Texas, liquefaction plant and
has sought an early environmental review with federal regulators
for an expansion at its Sabine Pass, Lousiana, facility,
officials said.
Construction of its and others LNG plants along the U.S. Gulf Coast is stressing existing gas transportation and storage infrastructure. In states including Louisiana, there is a need to continue to expand the infrastructure, Grindal said.
A little more than 50% of Cheniere's customers are European firms, which ensures it will continue to have a balance between Asia and European markets, Chief Executive Jack Fusco said.
It doesn't matter how much Russian gas returns to the
market, if producers including Cheniere continue signing
customers to long-term contracts, Fusco added. Cheniere has
expanded to 30 long-term customers from 12.
Europe is putting the infrastructure in place to import
LNG for the long-term, reducing its reliance on Russian pipeline
gas, the executives said.
However, the U.S. will need additional development to meet future demand.
"A permitting reform in the country needs to happen,"
said CEO Fusco, referring to red tape that often causes delays
and bottlenecks to expanding LNG capacity.
The company's proposed expansions would add 30 million
tonnes per year of LNG production capacity combined.
Cheniere is studying the Federal Energy Regulatory
Commission's requirements for rival Freeport LNG to restart its
fire-damaged Texas facility. The monitoring is intended to
ensure its facilities meet all FERC standards, the executives
said.
(Reporting by Marianna Parraga; Editing by David Gregorio)
