American Oil and Gas Reporter - January 2022 - 18

IndustryDigest
scheduled to come on line by the end of
2022:
· Train 6 at the Cheniere's Sabine
Pass LNG export facility is on pace to
add as much as 760 million cubic feet a
day of peak export capacity. Train 6
began producing LNG in on Dec. 7,
Cheniere reports.
· Venture Global's new Calcasieu
Pass LNG export facility has 18
liquefaction trains with a combined peak
capacity of 12 million metric tons per
annum, or 1.6 billion cubic feet a day.
Commissioning activities at Calcasieu
Pass LNG started in November. All
liquefaction trains are expected to be
operational by the end of 2022.
In October, the Federal Energy
Regulatory Commission approved
requests to increase authorized LNG
production at the Sabine Pass and
Corpus Christi LNG terminals by a
combined 261 billion cubic feet a year
(700 million cubic feet a day). The
terminals will achieve these increases
by optimizing operations.
" As of November 2021, we estimate
that U.S. LNG nominal liquefaction
capacity was 9.5 Bcf/d and peak
capacity was 11.6 Bcf/d, " EIA says.
" This peak capacity includes uprates to
LNG production capacity at Sabine Pass
and Corpus Christi. "
EIA goes on to estimate that, by the
end of 2022, U.S. nominal capacity will
increase to 11.4 Bcf/d, and peak
capacity will increase to 13.9 Bcf/d,
exceeding the peak capacities of
Australia (estimated at 11.4 Bcf/d) and
Qatar (10.4 Bcf/d). In 2024, when
construction on Golden Pass LNG-the
eighth U.S. LNG export facility-is
completed and the facility begins
operations, U.S. LNG peak export
capacity will further increase to an
estimated 16.3 Bcf/d.
EIA notes that an LNG facility's
nameplate capacity specifies the volume
it produces in a calendar year under
normal operating conditions, based on
the engineering design. Peak LNG
production capacity is the amount of
LNG produced under optimal operating
conditions, including modifications to
production processes that increase
operational efficiency.
Meanwhile, press accounts quote
ICIS analyst Alex Froley saying he had
seen a " significant increase " in longterm
LNG contracts from the United
States in recent months. ❒
18 THE AMERICAN OIL & GAS REPORTER
Venture Global Plans
To Build Louisiana's
Fourth LNG Terminal
ARLINGTON, VA.-Venture Global
LNG has indicated it will invest more
than $10 billion to develop the CP2
LNG liquefied natural gas export
facility in Cameron Parish, La.,
adjacent to the company's Calcasieu
Pass export facility. The company notes
that the CP2 terminal will be
Louisiana's fourth LNG export facility.
According to Venture Global, the
terminal would have a nameplate
liquification capacity of 20 million
metric tonnes per annum of LNG (about
26.3 billion cubic feet of gas a day). The
company reports it has submitted a
formal application requesting
authorization from the Federal Energy
Regulatory Commission to site,
construct and operate the CP2 LNG
terminal and the CP express pipeline,
which will supply it with natural gas.
Those who attended the December
announcement included Louisiana
Governor John Bel Edwards, who
touted the project's potential for
creating jobs and shrinking greenhouse
gas emissions. Meanwhile, Venture
Global Chief Executive Officer Mike
Sabel notes that CP2 and Calcasieu Pass
constitute significant investments in the
Pelican State.
" These two projects, combined with
our Plaquemines LNG facility now
under construction, represent more than
$20 billion of investment in Louisiana
and will create thousands of jobs-
including both permanent and
construction jobs, " Sabel says. " With
two major LNG export projects
currently under active construction,
Venture Global is on a mission to
produce the cleanest, low-cost LNG in
North America. We are proud to partner
with Louisiana in these efforts and in
developing carbon capture and
sequestration for our facilities. "
" The CP2 facility in Cameron will
create more than 1,000 new permanent
jobs and thousands of construction jobs
in the area, which will have a
significant impact on our economy, "
Edwards states. " And it is incorporating
clean energy technology that reduces
the amount of CO2 released into the
atmosphere, which is significant for our
environment. As Louisiana pursues a
goal of net-zero emissions by 2050,
projects that feature CCS allow our
state to sustain industry without
sacrificing our long-term carbonreduction
goals. " ❒
EnCap-Backed Advance,
Ameredev II Merge
HOUSTON-EnCap portfolio
companies Advance Energy Partners
and Ameredev II are merging in a $4
billion deal, published reports indicate,
a combination that will create one of the
Delaware Basin's largest privately
owned producers.
According to press accounts, the
combined company is operating eight
rigs. EnCap backed Ameredev II with
$400 million shortly after the original
Ameredev sold to Callon Petroleum Co.
in 2017.
Media reports add that Ameredev
Chief Executive Officer Parker Reese
has been tapped to lead the newlycreated
company. ❒
ConocoPhillips Pays
$9.5 billion For Shell's
Delaware Basin Assets
HOUSTON-ConocoPhillips has
acquired Shell Enterprises LLC's
Delaware Basin position for $8.6 billion
in cash after customary closing
adjustments, cash paid for the acquisition
is approximately $8.6 billion.
The assets include 225,000 net acres
and producing properties located
entirely in Texas, as well as more than
600 miles of operated crude, gas and
water pipelines and infrastructure,
ConocoPhillips describes. According to
the company, the assets' 2022
production projects to be about 200,000
barrels of oil equivalent a day, roughly
half of which is operated.
" This deal was justified on three key
merits: it meets our rigorous cost of
supply framework, we see a way to
drive efficiencies from the assets, and
the transaction makes our 10-year plan
better, " explains ConocoPhillips'
Chairman and Chief Executive Officer
Ryan Lance. " We believe the addition
of these high-quality assets improves
our underlying business drivers,
expands our cash from operations,
enhances our ability to deliver higher
returns on and of capital, and lowers our

American Oil and Gas Reporter - January 2022

Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2022

Contents
American Oil and Gas Reporter - January 2022 - Intro
American Oil and Gas Reporter - January 2022 - Cover1
American Oil and Gas Reporter - January 2022 - Cover2
American Oil and Gas Reporter - January 2022 - 3
American Oil and Gas Reporter - January 2022 - 4
American Oil and Gas Reporter - January 2022 - Contents
American Oil and Gas Reporter - January 2022 - 6
American Oil and Gas Reporter - January 2022 - 7
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American Oil and Gas Reporter - January 2022 - Cover3
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