Post #21517

$XOM $LNG $VG U.S. LNG exports up again in March on global panic buying U.S. liquified natural gas exports hit record-high 11.7 million metric tons in March as new plants in Texas ramped up production while supply disruptions caused by the war in the Middle East drove global gas prices sharply higher, according to preliminary London Stock Exchange Group data. In Texas, the start of operations at the Golden Pass LNG terminal, a joint venture between Exxon Mobil ($XOM) and QatarEnergy, along with a ramp up of a production unit at Cheniere Energy’s ($LNG) Corpus Christ LNG, are expected to lead to record-high U.S. output in the months ahead. The U.S. Department of Energy in mid-March authorized Venture Global’s($VG) LNG export facility in Plaquemines Parish for an immediate 13% increase in export capacity, bringing an additional 450 million cubic feet per day to global markets. Other export terminals like Sabine Pass and Cameron LNG operated beyond their normal capacity in March. Cheniere Energy CEO said at the CERAWeek Conference in Houston on March 25 that his company is doing “whatever it can” to increase production. “We’re looking at our maintenance schedules really hard, but at the end of the day, we have to be safe and we have to be reliable. We don’t want to sacrifice anything to get that last drop out,” Fusco said.