美国LNG产能上线时间为何一再推迟？

Investment Rating - The report maintains a "Buy" rating for the public utility and environmental industry [1] Core Viewpoints - The report highlights the ongoing delays in the commissioning of US LNG capacity, particularly focusing on the Calcasieu Pass project by Venture Global, which has faced multiple challenges including contractual disputes, technical issues, and external factors like hurricanes and the COVID-19 pandemic [3][32] - The report suggests that the coal market is experiencing upward pressure due to tight supply and demand dynamics, with current prices expected to continue rising in the short term [7][58] - The report emphasizes the importance of optimizing procurement and inventory strategies for power companies to ensure supply security amid fluctuating coal prices [7][58] Summary by Sections Market Review - The Shanghai Composite Index rose by 1.70% and the ChiNext Index increased by 8.58% during the week of August 11-15, with the carbon neutrality sector up by 3.15% and the environmental sector up by 1.79% [2][13] - The public utility sector saw a decline of 0.55%, while the coal sector dropped by 0.69% [2][13] Industry Data Tracking - The report tracks coal prices, noting that the current market is tight due to high temperatures and increased coal consumption by power plants, leading to rising spot prices [7][58] - The report also provides updates on natural gas prices, indicating a decline in prices across various markets, including the US Henry Hub and European TTF [52][53] Investment Recommendations - The report recommends focusing on fire power companies with assets in regions where electricity supply is tight and competition is favorable, such as Anhui Energy and Huadian International [5][62] - For hydropower, it suggests monitoring leading operators like China Yangtze Power, while for nuclear power, it highlights China National Nuclear Power as a key player [5][62] - In the renewable energy sector, it advises attention to leading companies like Longyuan Power [5][62] - The environmental sector recommendation includes focusing on leading urban comprehensive operation management service providers like Yuhua Tian [5][63]