North America's LNG Projects Ease Pressure on Global Supplies

A recent study from the Oxford Institute for Energy Studies found that new liquefied natural gas (LNG) projects in North America are helping to offset some of the supply-side issues caused by the war in the Middle East.

The conflict has led to a sharp fall in LNG exports from Qatar and the UAE, with QatarEnergy declaring force majeure on some exports due to damage incurred during the early stages of the war. The Ras Laffan North and Ras Laffan South facilities could take up to five years to fully recover, with an estimated reconstruction price tag of $26 billion.

However, new projects in North America are helping to mitigate this loss. LNG Canada became the first facility of its kind in North America to deliver LNG from the Pacific Coast last year, and the Plaquemines facility in Louisiana is supporting new commercial volumes. The two grassroot LNG projects in the UAE, controlled by ADNOC's gas arm, combine for a total investment value of $10.5 billion.