U.S. Accelerates LNG Export Expansion
With global demand for liquefied natural gas (LNG) on the rise, U.S. companies are rapidly advancing their export projects. At least seven major LNG initiatives have entered the financing phase, and it is expected that the country’s LNG export capacity will triple by the end of the decade.
To reduce costs, developers are increasingly sourcing steel domestically to mitigate the impact of import tariffs—such as the 25% duty on steel.
Australia’s Woodside was the first foreign investor this year, committing $1.2 billion to the Louisiana LNG project. The company is also in discussions with Saudi Aramco to explore potential collaboration.
Cheniere, the largest LNG exporter in the U.S., has announced plans to begin construction of new units in 2025. Similarly, Sempra Energy is targeting the same year to launch the Port Arthur LNG project, taking preemptive steps to avoid tariff-related costs.
Venture Global, another key player, plans to start development of its third LNG plant in Louisiana by mid-year. Its CEO expressed enthusiasm about the support received from the U.S. government and state officials for the continued growth of the LNG industry.
