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LCG Publishes 2024 Annual Outlook for Texas Electricity Market (ERCOT)

LCG, October 10, 2023 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2024, based on the most likely weather, market, transmission, and generator conditions.

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LCG Publishes 2024 Annual Outlook for Texas Electricity Market (ERCOT)

LCG, October 10, 2023 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2024, based on the most likely weather, market, transmission, and generator conditions.

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Industry News

FERC Accepts LNG Permit Application from Commonwealth

LCG, September 4, 2019--Commonwealth Projects, LLC yesterday announced that the Federal Energy Regulatory Commission (FERC) has formally accepted Commonwealth LNG, LLC's filing application to construct one liquefied natural gas (LNG) plant at the mouth of the Gulf of Mexico near Cameron, Louisiana. The company stated that it is on schedule to commence operations in the first quarter of 2024.

Commonwealth's President and CEO said, "FERC's formal acceptance of Commonwealth LNG project's filing application marks another significant milestone achieved by the Commonwealth LNG team and represents an important step in progressing the project and moving closer to a final investment decision."

The proposed Commonwealth LNG project will be built on a 393-acre site located on the west side of the Calcasieu Ship Channel, near the entrance to the Gulf of Mexico. The project includes six gas liquefaction trains, six full-containment LNG storage tanks and related facilities. Each train will have a liquefaction design capacity of approximately 1.4 million metric tonnes per annum (MTPA) for a total nominal liquefaction capacity of 8.4 MTPA. Under optimal operating conditions, the facility will have a peak capacity of up to 9.5 MTPA (equivalent to approximately 441.4 Bcf/year of LNG).

Natural gas will be delivered from existing intrastate and interstate pipeline systems of Kinetica Partners, LLC ("Kinetica"), and EnLink Bridgeline Holdings LP ("Bridgeline") to the LNG facility via a 3-mile long, 30-inch diameter pipeline.

Pipeline construction is planned to occur over a twelve-month period and is anticipated to commence between the first quarter of 2022 and the second quarter 2023. Construction of the LNG Facility will occur over a 36 to 38-month period and is projected to commence in early 2021. Commonwealth LNG stated that it expects to take a final investment decision on the project in Q4 2020.
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