Page 11 - GLNG Week 31 2022

GLNG AMERICAS GLNG

EQT continuing talks with

LNG players

COMPANIES US natural gas producer EQT is continuing the company because takeaway pipelines from
talks with LNG players as it continues to explore Appalachia are already operating near capacity,
opportunities in the space. EQT’s CEO, Toby with little opportunity for new additions in the
Rice, said on the company’s earnings call this near future. Indeed, Rice criticised efforts to stop
week that it was having discussions with “LNG new pipelines from being built, linking them
end-users across various geographies”. with higher energy prices.
According to Rice, the company is interested “We’ve finally reached the limit of the mid-
in LNG opportunities on the US East Coast in stream takeaway capacity in Appalachia,” Rice
particular. Such opportunities would be closer said. “We’ve got the biggest natural gas field in
to EQT’s operations, which are focused in the world, and we cannot use that to help lower
Appalachia. energy prices for Americans ... because we don’t
“Right now, we probably have an opportunity have pipelines,” Rice said. “They’ve been blocked,
to lock in contracts ... with probably about three cancelled and opposed over the last 10 years.”
or four different facilities,” EQT’s chief financial EQT posted net income of $891mn for the
officer, David Khani, said on the call, without second quarter of 2022, up from a net loss of
specifying the facilities in question. “These facil- $933mn in the same quarter last year. The com-
ities need gas supply,” he added. pany’s sales volumes reached 502bn cubic feet
Rice noted that EQT delivers around 1bn (14.2bn cubic metres) of gas equivalent in the
cubic feet (28.3mn cubic metres) per day of gas quarter, up from 421 bcf (11.9 bcm) equivalent
to the US Gulf Coast, where the majority of the in the same quarter of 2021.™
US’ LNG export capacity is located. Finding
opportunities that are closer would be helpful for

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