With the U.S. oil industry continuing to wallow in oil’s ongoing price deficits, as 2017 gets underway, liquid natural gas is positioned to become the pleasant fossil-fuel surprise during the year. Unknown to most is that 2017 will be the first time in 60 years that America will sell more natural gas volume worldwide than it has bought. It’s expected that LNG chilled to 260° F so that it can be shipped by tanker will have doubled over the past year to 32 billion cubic ft. per day. As of this writing, 34 shipments of LNG have already been exported from Cheniere Energy’s Saline Pass terminal in Louisiana. Most of these shipments have been headed to Latin America. Since the first tanker left in February 2016, 34 cargoes have since departed through early October with two-thirds going to Argentina, Brazil, Chile and Mexico. Colombia will be a new buyer this year. That South American nation will begin importing U.S. LNG from a floating regasification vessel by the end of this year.
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