Energy Business
Molly Glick
Molly Glick
Energy Central Team
·Posted in Energy Business
Thu, Apr 23

NEWS: Record-breaking US fossil fuel exports aren’t enough to fix scarcity abroad.

  • The LNG front: Golden Pass, the only new US LNG facility slated to ship this year, sent out its first cargo this week as the Strait of Hormuz remains shut. Talk about good timing.

  • The crude surge: US crude exports are set to hit a record 5.44M barrels per day this month. Crude shipments to Asia (the region with the tightest fuel pinch) are projected to reach 3.3M/day by May—nearly 3X pre-war levels from January.

  • The catch: All that cargo can’t substitute for blocked Middle East vessels. This month, total imports to Asia are forecast to sink to 14.8M barrels per day  (compared with 25M in Feb.)

1
1 reply