United States LNG, Petroleum Product Exports Set New Records in 18/19

United States LNG, Petroleum Product Exports Set New Records in 18/19

The United States, which just happens to be Canada’s number one competitor for oil and gas markets, has reached a new liquefied natural gas (LNG) export record of 4.7 billion cubic feet per day (Bcf/d) in May of 2019.

The country became the world’s 3rd top LNG exporter this year, averaging 4.2 Bcf/d of exports between January and May. It remains behind only Australia and Qatar, as both of those countries also continue to increase their own LNG exports to fulfill rising global demand.

Between 2016 - 2021, the U.S. is expected to double its LNG export capacity to more than 10 Bcf/d. Considering that 2016 was the year it began exporting, it’s quite a feat to accomplish.

So where is all the additional export capacity coming from?

New U.S. Liquefaction Facilities Come Online

US LNG Exports to Increase 63% in 2019 and 45% in 2020 with New Facilities Coming Online

A total of 4 new liquefaction units (trains) have come online in the United States since November 2018, with a combined capacity of 2.4 Bcf/d. They include:

> Corpus Christi Train 1

> Corpus Christi Train 2

> Cameron Train 1

> Sabine Pass Train 5

Additional capacity has helped the U.S. supply parts of the world with massive amounts of natural gas. Europe, for example, accounted for 40% of U.S. LNG exports in the first 5 months of 2019.

Regional production of natural gas in Europe is expected to drop considerably the years ahead. While the BP Statistical Review of World Energy 2019 predicts that overall EU demand will drop slightly, LNG imports will grow.

In addition to the most recent U.S. LNG facilities that have come online, as of November 2018 there are several more under construction or approved to come, and soon (seen above).

U.S. Oil Export Facilities: Approved or Underway

The four liquefaction facilities mentioned above are just the beginning of new oil and gas projects in the United States. A handful of crude oil export platforms are also underway.

Currently there are several deepwater oil exporting facilities proposed or under construction along the Gulf Coast, with a total of 11 million barrels per day (bpd) of export capacity.

Most, if not all of the facilities in the map below are being designed to be fully VLCC-capable (very large crude carriers). A single VLCC tanker can carry up to, or more than 2 million barrels in one haul.

Note that the names of these facilities below generally refer to the company who owns / are building the project:

USA Deepwater Oil Export Facilities Proposed on the Gulf Coast

  • Jupiter MLP – 1 million bpd
  • Trafalgar – .5 million bpd
  • P66 – 1 million bpd
  • Carlyle Group – 1 million bpd
  • Oiltanking / Enbridge – 2 million bpd
  • Enterprise – 2 million bpd
  • Sentinel – 1 million bpd
  • LOOP (existing) – 1.5 million bpd
  • Tallgrass – 1 million bpd

Total = 11 million bpd

While not all these facilities are likely to be built, a handful of them must be to support growing production and pipeline capacity supplied largely by the Permian Basin.

It’s also important to note that the LOOP facility off the southern coast of Louisiana has been importing oil into the U.S. for several years.

With increased domestic oil production and other factors at play, LOOP has / is being converted to an oil exporting platform with 1.5 million bpd of capacity.

U.S. Sets Record Petroleum Product Export Record

U.S. Sets Record for Petroleum Product Exports in 2018 - at 5.6 million barrels per day

Meanwhile, in 2018 the U.S. set a record high with 5.6 million barrels of petroleum products exported each day.

With these deepwater oil export facilities, which are designed to load VLCC tankers, that figure should only increase in the coming years.

LNG Facilities & Pipelines in Canada

While the U.S. sets new record-highs, Canada continues to experience a lack of new energy infrastructure that would allow it to do the same.

A few LNG projects are in the works in Canada, but are slow to move forward for a variety of reasons. Meanwhile, pipeline projects that have not been cancelled are taking several years to get built.

Global oil and gas demand is growing and is set to grow for decades. This has been confirmed by multiple organizations such as the IEA, EIA and BP.

As one of the most transparent, regulated, and environmentally progressive oil and natural gas producers and exporters on the planet, Canada should be a top choice for environmentalists - and anyone else for that matter - for oil and gas production.

Canada is a clean technology leader, has one of the most sustainable oil and gas industries on the planet, and the highest standards when it comes to worker’s rights. The list of Canada's exemplary performance on the world stage goes on, and on.

The world will need a wide range of energy from all sources including renewables in the years to follow to meet growing energy demand. Oil, natural gas, and even coal are projected to play a huge role in providing the world with that energy.

According to Wood Mackenzie, fossil fuels will account for 85% of global energy demand by 2040. That's a massive share in two decades time.

If you care about the environment, you want responsible oil and natural gas producers to take a larger share of growing market demand. In short, the world needs more Canadian energy.

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