Rising US labor costs threaten to derail new LNG projects [Yahoo! Finance]
NextDecade Corporation (NEXT)
US:NASDAQ Investor Relations:
next-decade.com/investors
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Source: Yahoo! Finance
Gulf Coast are pressuring liquefied natural gas (LNG) developers and delaying some projects from reaching a financial go-ahead. There are five LNG plants under development in Texas and Louisiana and 16 others on the drawing board in the U.S. looking to secure investment and customers. The five under construction would add a combined 86.6 million metric tons per annum (MTPA) of the superchilled gas, enough to keep the U.S. as the world's largest exporter for years to come. With labor costs jumping as much as 20% since 2021, busting construction budgets and squeezing projected returns for those firms still trying to attract new investors, the fate of some of the early projects has become less certain. Work at Golden Pass LNG, one of the largest U.S. projects, largely halted after its main contractor ran $2.4 billion over the original budget and filed for bankruptcy. Sempra LNG has revisited selecting Bechtel Corp to build its Cameron LNG expansion project to reduce costs, and it h
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News
- Aramco May Buy Stake in Sempra US Gas Plant, Get LNG Supply [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Aramco May Buy Stake in Sempra US Gas Plant, Get LNG Supply [Yahoo! Finance]Yahoo! Finance
- Institutional owners may take dramatic actions as NextDecade Corporation's (NASDAQ:NEXT) recent 4.7% drop adds to one-year losses [Yahoo! Finance]Yahoo! Finance
- Why aren't investors piling in to build new LNG projects? [Yahoo! Finance]Yahoo! Finance
- NextDecade: Positive Developments Seem Priced In [Seeking Alpha]Seeking Alpha
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