The Venture Global LNG contracts with Sinopec are likely the big energy news of the day, as is the expectation that the West Louisiana terminal is close to completion and could begin shipping as soon as late 2021, according to a report in the Financial Times today. This would be earlier than prior guidance and will add demand pressure to a US natural gas balance that is already tight (distracted in the immediate term in our view by a wave of mild weather). With Venture Global now likely to go ahead with its second LNG facility, as well as other capacities under construction, we will likely see greater inflation in US natural gas prices without increased E&P spending.
