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Natural gas has historically been a regional commodity, with supply limited by pipeline networks. "Natural gas is starting to resemble oil in that there's a more global market emerging for it," Antia told CNBC in an interview. The global capacity to liquefy natural gas has grown 60% since 2014, reaching 483 million metric tons annually as of February 2024, according to the IGU. Cheniere: LNG powerhouse The U.S. dominates the global LNG market, accounting for 21% of global exports last year and shipping 84 million metric tons, according to the IGU. Cheniere Energy , a global LNG leader based in Houston, is an opportunity for investors who want exposure to the growing global gas market, Antia said.
Persons: Shehriyar Antia, PGIM, Antia, Bernstein, Cheniere, Morgan Stanley, Biden, Mark Menezes, CNBC's, Menezes, Trump Organizations: Prudential Financial, CNBC, International Gas Union, Cheniere Energy, York Stock Exchange, Department of Energy, U.S, LNG, European Union, U.S . Department of Energy, European, United States Energy Association Locations: U.S, Houston, Cheniere's, of Mexico, Indonesia, China, India, Japan, South Korea, Europe, Asia, Russia, Moscow, Ukraine, United Kingdom, European Union
Cheniere is one of only two LNG providers with turbines subject to the rule, according to U.S. Environmental Protection Agency (EPA) data. He asked the state for 18 months to make changes to and retest the turbines. In the meantime, the company said it would take steps to minimize formaldehyde emissions, including taking a turbine offline or replacing components. In September, Cheniere submitted test results to Texas regulators that showed formaldehyde emissions at that facility were well below the EPA threshold. Cheniere has big plans to expand the Texas and Louisiana plants in coming years.
An LNG tanker is guided by tug boats at the Cheniere Sabine Pass LNG export unit in Cameron Parish, Louisiana, U.S., April 14, 2022. “Our turbine engineers determined a repair could improve the emission performance of the turbine," Robert Gray, senior environmental coordinator for the Sabine Pass plant, wrote. EPA spokesperson Tim Carroll said "the agency will work with Cheniere to assure they meet Clean Air Act obligations." Colin Cox, an attorney with the Environmental Integrity Project, said it was important for Cheniere to monitor the turbines to ensure continuous compliance moving forward. Louisiana and Texas regulators are responsible for overseeing compliance with federal clean air laws and regulations for facilities in their respective states.
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