A March 10 conference in Houston headlined “Supporting U.S. LNG Exports Through Global Infrastructure Development” also acknowledged some of the headwinds the industry now faces due to concerns of a worldwide pandemic and the associated impacts on the global economy. Among the speakers was Commonwealth LNG President and CEO Paul Varello, who described the tough commercial environment faced by LNG developers. “This is not for the faint of heart…” he said. “Right now, we have to hunker down.”
Varello’s comments were part of a session on New Designs and Approaches to Grow U.S. LNG Export Capacity. His global perspective has been shaped, in part, by Commonwealth LNG’s 8.4 million mtpa export project in Cameron Parish, Louisiana. Commonwealth targets economic savings attributable to a modular approach with liquefaction trains built in Asia. All six of the project’s LNG storage tanks will also built offsite to reduce cost and schedule.
The conference was jointly sponsored by the Global Energy Institute of the U.S. Chamber of Commerce; the U.S. Trade and Development Agency; and LNG Allies, the U.S. LNG Association.