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“I think prices are starting to melt up,” said Robert McNally, president of Rapidan Energy Group, a research firm.

“I expect crude oil prices will rise sharply in the second half of this year due to solidly recovering demand in China, India, the U.S. and elsewhere, along with deep supply cuts by OPEC+ producers, especially Saudi Arabia,” said Bob McNally, president of Rapidan Energy Group, a research firm.

LNG projects hurt project economics and even led to bankruptcy for one major contractor, said Alex Munton, a director at consultancy Rapidan Energy Group.

Without extensions to obtain non-Free Trade Agreement permits, financing for new entrants could dry up, and "for many of these projects, it looks like 'game over,'" said Alex Munton, Rapidan's Global Gas Service director.

Glenfarne Group, which has two plants - Texas LNG and Magnolia LNG - on Rapidan's list of at-risk projects, said it is confident the DOE ultimately will provide extensions.