South America Becomes Home For U.S. Shale Gas Amid Rising Demand

摘要

U.S. liquefied natural gas was supposed to go mainly to Asia and Europe, lured by prices as much as four times higher than those at home. So far, South America has been the destination of choice. Thanks to a global glut that depressed prices, Che-niere Energy Inc. has sent more than half the LNG tankers from its Sabine Pass terminal in Louisiana to South America. Premiums once available in Asia and Europe disappeared and those regions are well-supplied from elsewhere. The U.S. is poised to become a major player in global LNG markets as a rising supply of shale gas provides more than the domestic market can absorb. Latin America is hungry for the power plant and heating fuel from its northern neighbor as the region lacks reliable energy sources of its own. The regional trade is easier as larger tankers can now use the Panama Canal, cutting travel time and cost.