Liquefied natural gas traders in northwest Europe won’t buy many short-term cargoes of the fuel until U.S. export projects boost supply and end the deferral of cargoes to Asia, according to Eneco Holding NV’s trading unit.
Dominion Resources Inc. won U.S. Energy Department approval to export liquefied natural gas from an existing import terminal in Maryland, the fourth such project authorized by the agency amid a natural-gas glut.
The Energy Department approved Lake Charles Exports LLC to ship natural gas from its terminal in Louisiana, the third facility the Obama administration has backed to sell to nations that lack free-trade agreements with the U.S.
Spectra Energy Corp. detected a “small” leak in an offshore 20-inch natural-gas pipeline, Wendy Olson , a company spokeswoman. The line is 80 miles (130 kilometers) from Cameron Parish, Louisiana, she said.
Natural gas suppliers from Sempra Energy to Exxon Mobil Corp. are fighting for the first U.S. export permits after a study said selling some of the fuel to Asia will benefit the economy more than consuming it domestically.
Cheniere Energy Inc.’s cost to build a Louisiana gas export terminal won’t be affected by a U.S. regulator’s failure to approve the project today, the company’s chairman said after earlier warning of “significant price increases.”
Asian demand for natural gas has risen so sharply in recent years that Alaska wants to build a $50 billion pipeline and export terminal to move its stranded supply offshore. Exxon Mobil Corp., BP Plc and ConocoPhillips will deliver plans for such a project to Alaska Governor Sean Parnell by the end of this month.
Cheniere Energy Inc. won federal approval to build the largest U.S. natural-gas export terminal as drillers who extract the fuel from shale formations struggle to find domestic buyers to absorb a glut.