Bloomberg: America’s Shale Debuts in Global Gas Trade with First Cargo

2 March 2016: “Cheniere’s Sabine Pass plant chills gas into a liquid, shrinking the fuel to 1/600th of its original volume, so it can be loaded onto tankers. Cheniere delayed the terminal’s first shipment from late January to perform wiring repairs. The company said in January that it can profitably sell LNG despite lower prices, though margins may be as little as $1 per mmBtu to Europe. “While initial export volumes will be small from the lower 48 states, the U.S. is joining Australia, Malaysia and Angola in expanding LNG production capacity by a total of 12 percent this year, according to Energy Aspects Ltd. ‘It has been obvious for a while that it’s going to be an unpleasant price environment,’ said Jason Feer, head of business intelligence at Poten & Partners in Houston. ‘The problem for everyone in the LNG business is that prices are already quite low.’”