US LNG: FERC Approval to Flow More Gas to Plaquemine LNG: Platts
Jun-06 11:01
US regulators authorised Venture Global to introduce feedgas to Liquefaction Block 12 at its Plaquemines LNG facility in Louisiana, further advancing the plant’s ramp-up, Platts reported.
- Consequently, 13 of the project’s 18 liquefaction blocks (26 of 36 trains) are now cleared to receive hazardous fluids, including feedgas.
- Each block contains two trains, and the full project is designed to produce 20m mtpa of LNG, with a peak authorised capacity of 27.2m mtpa.
- Venture Global began LNG production at Plaquemines in December 2024 and expects all trains to be operational by year-end.
- The trains have so far been operating at 140% of nameplate capacity, according to CEO Mike Sabel.
- Meanwhile, Cheniere’s Corpus Christi expansion in Texas also received FERC approval to introduce feedgas to its second midscale train.
- Cheniere expects to complete three of seven new trains in 2025 and the rest by 2026, with total capacity exceeding 25m mtpa.
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MNI: US MBA: MARKET COMPOSITE +11.0% SA THRU MAY 02 WK
May-07 11:00
- MNI: US MBA: MARKET COMPOSITE +11.0% SA THRU MAY 02 WK
US TSYS: Bear Flatter With A Light Docket Ahead Of The Fed
May-07 10:57
- Treasuries trade bear flatter, with the front end paring some of yesterday’s gains as investors favor pricing a next 25bp cut in July and for now don't want to price in that much more than 75bp of cuts for 2025 as a whole.
- Risk sentiment was supported on early headlines of US-China trade talks scheduled in Switzerland for later this week. This was followed by PBoC easing but US equity futures and Tsy yields are subsequently off session highs.
- Cash yields are 0-3bp higher on the day, with increases led by 3s whilst 20s and 30s lag.
- 5s30s at 88bps is firmly off cycle highs of 100bps from May 1.
- TYM5 trades at 111-08+ (-01+) for close to yesterday’s highs of 111-12+, on another subdued overnight session with volumes at 230k despite no Japan holiday today.
- It hasn’t troubled resistance at 112-01+ (May 2 high) and the contract still trades close to recent lows, undermining the recent bull cycle. Support is seen at 110-27+ (May 6 low).
- Fed: FOMC announcement (1400ET), Chair Powell press conference (1430ET)
- Data: Weekly MBA mortgage data (0700ET), Consumer credit Mar (1500ET)
- Tsy Sec Bessent also sees day two of his Congressional testimony at 1000ET.
OPTIONS: Expiries for May07 NY cut 1000ET (Source DTCC)
May-07 10:56
- EUR/USD: $1.1400(E763mln)
- USD/JPY: Y142.50($804mln), Y143.00($595mln), Y143.20($746mln), Y145.50-55($1.1bln), Y145.85-00($1.6bln)
- EUR/GBP: Gbp0.8555-68(E501mln)
- AUD/USD: $0.6400(A$676mln), $0.6600(A$717mln)
- USD/CAD: C$1.3750-65825mln), C$1.3775-80($961mln)
- USD/CNY: Cny7.2000($500mln)
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