- LNG (liquefied natural gas) market dynamics and pricing outlook
- Project outlook including Nord Stream 2 challenges
- Supply and demand trends – impacts of weather and transportation costs
- 1-2-year outlook – upcoming projects and key activities
What are your expectations for the LNG [liquefied natural gas] market in H2 2021? What key activities are you monitoring?
You mentioned the contrast between structural and shorter-term tightness. What are your thoughts on that?
If the Russian gas output management strategy is reversed, how much could this drop prices? Do you think there is a strong chance of a pull-back on management strategy?
How competitive would you say US LNG is given all the dynamics mentioned?
China is expected to surpass Japan as the largest LNG importer in the coming years. Qatar is pivoting away from the western majors and towards China-based firms for partnerships, especially on the North Field expansion project. How would you assess the potential growth from China and that threat of Qatar?
Recent droughts in LATAM have increased demand there. What do you think about that LATAM demand in addition to the increased demand from China and Korea? Secondly, does the retirement or potential acceleration of coal plants globally mean even more LNG demand?
Do you think any LNG plants in Asia will be hit with taxation in regards to emission standards, creating a need for new plants to replace them? What do you think about potential retirement for older LNG plants?
Could you elaborate on the impacts of the Nord Stream 2 on US LNG? As it just received a green light, what is your timeline for expected utilisation, given that it might not necessarily start being utilised right at the end of 2021? What are your thought on the overall timeline of this project?
Tellurian just issued equity after securing a third contract for its Driftwood LNG capacity, which brings the total up to around 9mtpa. Was this equity issuance necessary for the completion of Driftwood?
What do you think about the construction timeline for the Driftwood LNG facility, which is meant to start in early 2022, given the dynamics you noted? Do you think this timeline may be pushed out?
How much was the summer weather driving the surge in LNG demand vs Asia-based customers potentially buying the supply too early?
What do you think about the future of contract lengths? Are they lengthening? Do you expect any major changes in contracts on the demand side?
What sort of challenge does transportation cost present for US LNG, thinking about shipping as well? Is it potentially prohibitive for buyers of US LNG, especially as prices start to deflate?
Do you think US LNG suppliers will continue to be tied to Henry Hub, or will there be different benchmarks such as the JKM [Japan Korea Marker]?
Tellurian has a margin of around USD 9 per million BTU [British thermal unit], factoring in the USD 1 per liquefaction and transportation cost. How might the factoring in of those transportation costs change? Is that USD 1 per million BTU an accurate estimation, given that it’s difficult to use LNG cargoes due to that basis rate?
What LNG supply projects do you expect to move to FID [final investment decision] in the next 12 months?
What impact will the FLNG [floating liquefied natural gas] projects in British Columbia have on the market as a whole? How competitive is FLNG vs more traditional LNG projects? When might it become competitive with US and global LNG? What do you think about the contrast there?
Will the ESG initiatives with FERC be a large driving force in the future? Do you think electric drives and the self-generated electricity dynamic will be crucial for plants?
Is there anything else you would like to add or highlight? Do you expect market growth to slow down after 2040? Is there a cap on your longer-term outlook?
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