How US LNG may create new pricing fundamentals over the coming 5 years
Since the startup of the first US gas liquefaction and export plant, Sabine Pass, in 2016, 15.5 million tons of US LNG were produced and shipped overseas. As much more US LNG is scheduled to come online in the coming 5 years, the US may reshape global LNG flows and price dynamics for the foreseeable future.
ExxonMobil quits Russian JVs amidst sanctions
Citing Western sanctions, ExxonMobil has announced its divestment from several JV projects in Russia. This does not include the 200-Kb/d Sakhalin-1 project off the eastern coast of Russia, where ExxonMobil partakes under the terms of a production sharing contract. The company recorded a Q4 after-tax loss of USD0.2 billion due to the withdrawal plan.