The Sabine Pass LNG terminal owned by Cheniere Energy in southwest Louisiana offers a glimpse of the challenges facing the growing natural gas industry in the United States.
The first cargo of liquefied natural gas (LNG) was scheduled for export from Cheniere Energy’s new export terminal in Cameron Parish, in January, but the company reportedly delayed its plans by up to two months due to faulty wiring.
Following the announcement of the export delay, Cheniere Energy sought $2.6 billion to refinance its adjacent LNG import terminal in Cameron Parish which was impacted by extreme fluctuations in the price of oil and gas. The company built the import facility before the U.S. fracking boom took hold, and was therefore saddled with unnecessary import infrastructure in the new age of abundance of domestic gas availability and the prospect of U.S. exports.
“My government will continue to support international action against climate change, including the implementation of the Paris agreement.”
So said the Queen...