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conflict has already affected Egyptian LNG exports to Europe, and another conflict in Mozambique has stalled a major project led by TotalEnergies.
In this context, the importance of several new US LNG facilities set to become operational next year is increasing. These facilities will play a significant role in supplying import terminals in Europe and meeting the energy needs of rapidly growing Asian economies.
Key US LNG projects include Venture Global LNG Inc.'s Plaquemines facility in Louisiana, an expansion at Cheniere Energy Inc.'s Corpus Christi facility in Texas, and the Qatar-backed Golden Pass project, also in Texas. Notably, these projects are progressing ahead of schedule, unlike some projects facing delays in other parts of the world.
Collectively, these US LNG facilities are expected to account for over 70% of the new global supply coming online in the next 12 months. This percentage could increase further if sanctions disrupt the start of the Arctic LNG 2 project in Russia, further cementing the United States as the world's top LNG supplier.
Global gas markets have been tight since Russia's invasion of Ukraine last year, underscoring the need for additional supply to meet growing demand. US LNG has played a pivotal role in Europe's efforts to reduce its reliance on Russian pipeline gas, a trend that may accelerate as nations increasingly turn to LNG as part of their energy transition strategies.
However, US LNG does face challenges, including recent congestion in the Panama Canal, which could cause delays in deliveries to Asia. Most US LNG exports originate from the Gulf Coast. Additionally, the infrastructure supporting LNG exports is susceptible to damage from hurricanes and extreme weather events.
LNG export capacity in North America is projected to reach 24.3 Bcf/d through 2027, more than doubling the region's current capacity of 11.4 Bcf/d, the US Energy Information Administration said in a November 13 note. Canada and Mexico, neither of which are currently LNG exporters, are projected to achieve respective LNG export capacities of 2.1 Bcf/d and 1.1 Bcf/d by the same year, according to the EIA. The capacity additions that the EIA is considering result from a total of 10 new projects across the three countries.
9.1.2 Automotive sector news
103 RUSSIA Country Report December 2023 www.intellinews.com
Sales of new cars and light commercial vehicles (LCVs) in Russia may rise by 45.6% in 2023 to 1mn units, Chairman of the AEB (Association of European Businesses) Automobile Manufacturers Committee Alexey Kalitsev