US developers are racing to cash in on the nation’s natural-gas export boom while they still can.
The massive US buildout of terminals that process and ship liquefied natural gas, or LNG, has transformed the nation into the world’s top exporter of the fuel. But plants still in development are facing a tight deadline: By 2027, global LNG supply will exceed demand, BloombergNEF estimates. By 2030, US rival Qatar will have finished its own years-long LNG buildout, further damping appetite for new terminals. And by 2031, a massive pipeline expansion by Gazprom PJSC could begin funneling more of Russia’s natural gas to China, possibly displacing as much as 40 million metric tons of LNG demand per year, according to BloombergNEF.
Four US projects with the capacity to export 63 million tons of LNG a year are still awaiting final investment decisions. Even the $35 billion in US plants already under construction face headwinds amid a tight labor market that’s threatening to push back timelines. Golden Pass LNG, being jointly developed in Texas by Exxon Mobil Corp. and QatarEnergy LNG, is coming online in 2025, one year later than scheduled following a worker shortage and the bankruptcy of one of its contractors.
Here are the projects to watch.
Louisiana LNG (Under construction)
- Developer: Woodside Energy
- Capacity: 27.6 million tons per year
Woodside Energy announced its $17.5 billion final investment decision to build Louisiana LNG in late April, after the company acquired Tellurian Inc. in 2024. The facility is under construction in Calcasieu Pass, Louisiana, and targeted to come online by 2029.
Corpus Christi LNG Expansion (Under construction)
- Developer: Cheniere Energy Inc.
- Capacity: 3 million tons per year
Cheniere Energy Inc., the largest American exporter, last month announced a $2.9 billion expansion of its Corpus Christi plant in south Texas. Two new production trains are slated to start toward the end of the decade, which would boost total Corpus Christi capacity to 30 million tons a year, including efficiency gains.
CP2 LNG (Under construction)
- Developer: Venture Global
- Capacity: 28 million tons a year
Venture Global’s $15.1 billion CP2 project in Louisiana is its third export facility, due to start in 2027. Although a permitting pause imposed by President Joe Biden delayed the project last year, President Donald Trump lifted the moratorium soon after starting his term.