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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 371.65-1.1%Nov 17 4:00 PM EST
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To: TobagoJack who wrote (136607)11/8/2017 11:57:41 PM
From: Elroy Jetson  Read Replies (1) of 217842
 
Cheniere Energy has been shipping very costly LNG to China since July when the Panama Canal opened for the first time to LNG ships. It'll be interesting to see if the price China pays is enough to keep Cheniere out of bankruptcy for longer than another 18 months when China completes the pipelines from Russia, probably second quarter 2019.

Prior to the July canal opening to LNG, Cheniere had been selling small quantities of LNG from Corpus Christi to Brazil, other Latin American nations and one cargo to Portugal.

Their Sabine Pass LNG facility came very late to the market after Chevron, Exxon and others had signed contracts at much higher prices before energy prices tumbled - to deliver LNG to Japan, South Korea, India and Pakistan from Australia and Papua New Guinea.

In Europe Cheniere's LNG is far more costly than natural gas from Chevron's line from Kazakhstan and Roseneft's lines coming from Russia - with the exception of a part of Portugal which has no pipeline connection the rest of Europe.

Due to the limitations of New Panamax size, Cheniere is limited to small ships like the this Rioja Knudsen with less than 93,000 tonnes capacity carrying a half-load of LNG compared with Qatar's Suez-Max LNG tankers. When China completes the gas pipeline from Russia, scheduled at the end of 2018, we'll see if China continues to buy LNG from Cheniere.



New Panamax in comparison

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