U.S. natural-gas exporters are speeding up efforts to ship more gas to lucrative global markets. The Wall Street Journal reports that Sempra Infrastructure is moving forward with a project to build a natural-gas export terminal on the U.S. Gulf Coast, potentially adding much-needed supplies of liquefied natural gas for overseas buyers.

The project is the first phase of Port Arthur LNG, a roughly $10.5 billion South Texas export facility that would start delivering cargoes around 2027. It would be the largest U.S. terminal approved since Russia’s invasion of Ukraine sent Europe scrambling to replace Russian gas.

Cheniere Energy and Venture Global LNG earlier this year approved two export-terminal projects in Texas and Louisiana. Those projects, combined with Port Arthur LNG, will add the equivalent of roughly half the current U.S. export capacity. 

The expansion is one reason there is a rush to add LNG tankers to capacity-strained shipping markets.