LNG Wave Keeps Retreating as Projects Run Late

摘要

The forecast wave of new LNG supply keeps retreating as delays continue to dog construction schedules. Russia's Novatek is an exception, due any day now to bring on line the 5.5 million ton per year second train of its Arctic Yamal LNG complex about five months early. The third and final train will also be early (WGI Aug. 1'18). But Japan's Inpex typifies the norm, last week starting up its 8.9 million ton/yr Ichthys LNG in northern Australia around 18 months late. In total, World Gas Intelligence calculates that around 30 million tons/yr of liquefaction capacity will come on line in 2018. But actual new supply will probably be less than 16 million tons as starts are skewed to the second half, and production trains take time to ramp up and can sufler teething problems. A further 15 million tons or so of supply could come from improved performance at existing plants or the ramp-up of facilities that opened in 2017 - Train 9 at Malaysia LNG, Trains 3 and 4 at US Sabine Pass, Train I at Yamal LNG, Malaysian Petronas' PFLNGI floating project, and the first train at Chevron's Wheatstone in Australia.