![]() World LNG demand is expected to rise to 53.3 billion cubic feet per day (bcfd) next year, according to Goldman Sachs analysts.ĬNOOC also will buy 1.5 million tonnes of LNG from Venture Global's Calcasieu Pass facility for a short-term. Global LNG demand has hit record highs each year since 2015, due mostly to surging demand in China and the rest of Asia. ![]() Liquefied natural gas is viewed by many countries as a transition fuel away from heavier-polluting coal plants, particularly in China, the world's biggest user of coal. "China is critical to global climate efforts, and LNG supplied by Venture Global will serve as an important addition to their low carbon energy mix for decades," said Mike Sabel, chief executive of Venture Global.Ĭhina is set to become the world's largest importer of LNG in 2022, and CNOOC is the country's largest buyer of the super-cooled fuel. ![]() government granted Venture Global permission to start early site work on Plaquemines earlier this year. U.S.-based Venture Global said it will supply 2 million tonnes of LNG per year from its Plaquemines LNG export facility in Louisiana to CNOOC Gas & Power Group Co Ltd. "We have it today, that we can make these reductions, because the developing world is still bringing into service large amounts of coal plants." He added, "The larger that gas deals are, with anybody, the more you are directly reducing future potential CO2 emissions.Dec 20 (Reuters) - Venture Global LNG said on Monday it has signed a 20-year deal to sell liquid natural gas (LNG) to a unit of China National Offshore Oil Corp (CNOOC). "It's greater than any other thing that's going on in the world today, in terms of investments in future potential reduction based on new technologies," Sabel said. "The biggest impact you could have today in direct reduction in CO2 emissions is abatement of coal," Sabel told CNBC. "This gigantic deal we announced, in addition to energy security for China and diversification of supply and great price, was also about directly reducing emissions." He emphasized that investment in current energy infrastructure is critical to lowering global carbon dioxide emissions. China is currently undergoing an energy crunch, with some analysts saying that shortages could lead the country to have to build more coal plants. Sabel also said that given China's current demand for alternative energy, deals such as this one serve a long-term purpose to reduce the impact of global climate change and carbon emissions. "Relative to some of the international projects, more than 50%." producers traditionally, we've probably shaved 30% off the cost," he said. One of Venture Global's priorities has been to try to control production efficiencies, Sabel said, adding it was a factor in making the Sinopec deal happen. liquefied natural gas to China - and at 4 million metric tons each year, it's twice the size of a deal that Sinopec reached with Qatar earlier this year. The new Venture Global-Sinopec contract will double imports of U.S. " reflects the shared mission of Sinopec and Venture Global in promoting the global energy transition," Sinopec President Ma Yongsheng said in a statement, stressing it's a significant step in achieving carbon emission and neutrality goals. "That's what our good friends and our customers at Sinopec in China were looking for." "We've relentlessly focused on delivering the lowest possible delivered clean LNG to the market," Sabel added. The deal also makes Venture Global the top American LNG exporter to China. The company will deliver the product from its plant in Plaquemines, Louisiana. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |