I am yet to meet an oil and gas bear. BofAML is typical:
More projects likely to get off the ground this year
We view the prospects for the US liquefied natural gas (LNG) sector as largely positive. We expect a number of final investment decisions (FIDs) this year as we move closer to meeting supply needs around the early to mid-2020s. Construction of LNG facilities takes approximately four years, meaning a good start is needed to meet outer year demand. Securing long-term supply agreements for the necessary financing remains challenging, but industry participants are citing a litany of successful contract negotiations. Moreover, with many interested but holding off from making the first move, we expect a kind of domino effect once more contracts are signed. Projects favored for FID this year include Cheniere’s Corpus Christi Train 3, and quite possibly independent developers such as Next Decade and LNG Limited’s Magnolia LNG among several other possible parties.
