TransCanada Places Cameron Access Project in Service
Project: New pipeline for transporting LNG to export terminal
Investor: TransCanada Corporation
Location: Louisiana, USA
FDI Center’s view: Until very recently, the United States was a net importer of natural gas. Large increases in US natural gas production coupled with strong global demand for gas created strong interest in building liquefied natural gas (LNG) export terminals in the US. Despite initial opposition from large industrial consumers of natural gas (led by Dow Chemical) wanting to limit exports of US natural gas, several LNG export projects have received approval. Two LNG projects (in Louisiana and in Maryland) are new operational and four more projects are scheduled to come online in the next two years, all on the East Coast or the Gulf of Mexico. As US LNG export capacity continues to increase, the US is projected to become the world’s third largest LNG exporter by 2020, after Australia and Qatar. Unlike in Australia, where domestic prices for natural gas more than doubled because of higher LNG exports, prices for US natural gas consumers are not expected to increase significantly, at least for the time being.
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