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Amid lower oil prices, Moody’s predicts failure of many gas export projects

Lower global oil prices, coupled with new gas supplies in Australia will cause the cancellation of most liquefied natural gas (LNG) export projects planned for the U.S. and Canada, according to a new report from Moody’s Investors Services.

Moody’s expects several projects already under construction will go forward as planned and be successful. That list includes Dominion Resources Cove Point project in Maryland, which is the closest export terminal to Pennsylvania’s Marcellus Shale. Another early mover is Cheniere Energy, which expects its Sabine Pass, Louisiana LNG terminal to start making shipments by the end of this year.

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