Hurricane Laura: LNG Exporters Worry Over Damage Impact In US Oil Lands

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Along with millions of Americans, much of the Gulf Coast’s energy infrastructure is at risk from Hurricane Laura’s “unsurvivable storm surge” that could inflict more than $15 billion in insured losses.

Ahead of the storm, liquefied natural gas producers shut wells and vessels steered clear of export terminals including Cheniere Energy Inc.’s Sabine Pass and Sempra Energy’s $10 billion Cameron LNG facility.

Cameron and Sabine Pass are expected to be offline for a few days as it will take time for waterways to resume operation, according to traders surveyed by Bloomberg. In the unlikely scenario that the facilities require repairs, they would go offline for much longer, they said.

Hurricane, storm

Read also: Oil Crisis: Hope Rises As FG Moves To Ship Highest Oil Cargoes To China

Those locations account for just over half of the U.S.’s LNG export capacity and about 8% of global capacity, according to company and BloombergNEF data.

Hurricane Laura made landfall as a Category 4 hurricane early Thursday morning in Louisiana.

Agency Report 

'Dotun Akintomide
'Dotun Akintomide
'Dotun Akintomide's journalism works intersect business, environment, politics and developmental issues. Among a number of local and international publications, his work has appeared in the New York Times. He's a winner of the National Youth Service Corps (NYSC) Award. Currently, the Online Editor at The New Diplomat, Akintomide has produced reports that uniquely spoke to Nigeria's experience on Climate Change issues. When Akintomide is not writing, volunteering or working on a media project, you can find him seeing beautiful sites like the sandy beaches that bedecked the Lagos coastline.

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