Over the next two years, projects capable of producing up nearly 90 million metric tons of LNG per year are expected to reach final investment decisions that will require more than $200 billion of construction work through 2025, global research firm Wood Mackenzie estimates.
As the Houston Chronicle reports, the proposed projects will create thousands of construction jobs, hundreds of high-paying permanent jobs and create a much-needed outlet for the record 21.7 billion cubic feet of natural gas being produced in the Permian Basin of West Texas and the Eagle Ford Shale of South Texas if they land contracts and move forward.
As it stands, four companies own and operate five liquefied natural gas export terminals that use tankers to ship the supercooled fuel from the United States to destinations in 33 nations around the world.
Three more export terminals are under construction, while the Magnolia LNG in Lake Charles and five other proposed plants are pending. The six proposed plants hold permits but are waiting on sales contracts before making final investment decisions.
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