KN to Operate LNG Terminal in Brazil
Lithuanian company AB Klaipedos Nafta (KN) has been appointed as the operator of a liquefied natural gas (LNG) terminal in the Brazilian Port of Açu.To execute the contract, KN has established a company in Brazil and plans to form a team of up to 30 local specialists in 2020.KN, KN Açu Serviços de Terminal de GNL Ltda. (Brazilian SPV) and Gas Natural Açu (GNA), which is a joint venture among Prumo Logistica, BP and Siemens, signed an operation and maintenance services agreement for the provision of the relevant services.Following the signing of the agreement…
Partners to Expand Pakistan LNG Inport Terminal
Excelerate Energy announced it has agreed with partner Engro Elengy Terminal Ltd. (EETL) to expand the EETL liquefied natural gas (LNG) import terminal in Port Qasim, Pakistan.Under the heads of agreement (HOA), Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with a newbuild FSRU, Hull 2477, which is currently under construction at South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and due to be delivered in April 2020.
Asian LPG Market to Cross $109Bln by 2024
The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as increasing demand for LPG as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil.Increasing demand for LPG used to run vehicles (Autogas) is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation…
FERC Approves Plaquemines LNG Facility
The US Federal Energy Regulatory Commission has approved the construction of Venture Global's proposed $8.5 billion Plaquemines liquefied natural gas export facility in Louisiana. Venture Global LNG to build an LNG Plaquemines export terminal and a gas pipeline between the terminal and the interstate gas network.PGNiG will receive liquefied natural gas from this terminal from 2023.“We congratulate our American partners from Venture Global LNG for obtaining the final FERC approval for the construction of the second natural gas liquefaction facility.
FERC Approves Venture Global LNG Terminal
The Federal Energy Regulatory Commission (FERC) cleared Venture Global Calcasieu Pass LLC’s proposed liquefied natural gas export project in Cameron Parish, Louisiana, marking the first authorization in two years for a new LNG export facility.Venture Global LNG Inc. said it will start construction immediately on its $5 billion Calcasieu Pass liquefied natural gas export terminal in Louisiana. FERC also cleared TransCameron Pipeline LLC’s associated natural gas pipeline."With our FERC order in hand and our project contracted with binding 20-year sale and purchase agreements (SPAs) with Shell…
AGL LNG Import Project Slowed by Environment Review
Plans by Australia's AGL Energy to start importing liquefied natural gas from 2021 will be delayed after the state of Victoria called for the company and its pipeline partner to submit a full environmental assessment of their project.The review process typically takes nine to 12 months, which means AGL will not be able to reach a final investment decision on the A$250 million ($178 million) jetty project by June 2019, as it had hoped.AGL had been on track to be the first of four…
US Aims to Start LNG Deliveries to Germany in Four Years
U.S. companies expect to begin delivering liquefied natural gas (LNG) to Germany in four years at the latest and will challenge Russia which now accounts for 60 percent of German gas imports, the deputy U.S. energy secretary told a German newspaper."U.S. liquefied natural gas is coming to Germany. The question is not if, but when," Dan Brouillette told the mass circulation daily Bild in an interview published on Monday.U.S. President Donald Trump in July accused Germany of being a "captive" of Russia due to its energy reliance and urged it to halt work on the $11 billion…
Uniper Sees Merit in Building LNG Terminal at Wilhelmshaven
Germany's Uniper on Tuesday said it favors a liquefied natural gas (LNG) terminal at the Wilhelmshaven deep sea port on the North Sea coast, less than a week after peer RWE said it secured access to capacity should a rival project at Brunsbuettel go ahead."Wilhelmshaven in particular can be a suitable location, there are many arguments in favour of it," spokesman Leif Erichsen said in a written statement.He cited the port's ability to offer infrastructure for LNG vessels of all sizes and its proximity to the German long-distance gas pipeline grids and underground storage caverns in the norther
LNG Trade Grew 10% in 2017 -EIA
Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in the Australia and the United States, the U.S. Energy Information Administration (EIA) said on Monday.LNG trade reached 38.2 billion cubic feet per day (bcfd) in 2017, up 3.5 bcfd from 2016 and the largest annual volume increase on record, the EIA said, citing the Annual Report on LNG trade by the International Association of Liquefied Natural Gas Importers (GIIGNL).New liquefaction export capacity commissioned in Australia…
Asian LNG Spot Prices Jump after European Gas Outages
Asian liquefied natural gas (LNG) spot prices jumped this week in reaction to volatile price spikes on European gas markets and ongoing demand from the region's major consumers. Spot prices for January delivery hit $10.50 per mmBtu, 40 cents above last week, with February prices seeing similar levels. In a tumultuous week, European gas prices gyrated wildly following a flurry of major pipeline and production outages coinciding with high demand and freezing weather. The rally began…
Gazprom, Shell Discuss LNG Projects
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg. The meeting addressed relevant aspects of strategic cooperation. Particular attention was paid to joint efforts in the liquefied natural gas (LNG) sector. The parties discussed the construction project for the third train of the LNG plant on Sakhalin Island and the progress of the Joint Study Framework Agreement for the Baltic LNG project. The meeting also focused on the Nord Stream 2 project.
Finland's Manga LNG Terminal Gets First Cargo
The first shipload of liquefied natural gas (LNG) arrival to the LNG import terminal in Tornio, Finland, on Sunday November 19, 2017. The Manga LNG natural gas import terminal in Röyttä Harbor, Tornio, is a joint venture of the industrial companies Outokumpu and SSAB Europe, the energy company EPV Energy and the LNG company Skangas. LNG was shipped to the terminal by Coral Energy, a time-chartered LNG carrier operated by Skangas. Once completed in summer 2018, the import terminal will be the largest LNG terminal in the Nordic countries and the second LNG terminal in Finland.
China to Take 70% Stake Myanmar Port
China has agreed take a 70 percent stake in a strategically important sea port in Myanmar, at the lower end of a proposed range amid local concerns about Beijing's growing economic clout in the country, a senior government official said. Oo Maung, vice chairman of a government-led committee overseeing the project, said Myanmar had pushed for a bigger slice of the roughly $7.2 billion deep sea port, in western Rakhine state, in negotiations with a consortium led by China's CITIC Group. Agreement was reached in September, he said.
Gastrade Signs LNG Deal with State-owned DEPA
Greece's state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said. Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis. The project has been described as a 'project of common interest' by the European Union.
New Private LNG Terminal in Pakistan
A group of leading business houses in Pakistan plan to build a liquefied natural gas (LNG) terminal by March 2019 for gas processing and consumption in their own plants, Reuters reported. The proposed, second multi-million dollars terminal being set up at the Port Qasim to handle LNG imports will give tremendous boost to LNG trade. The private terminal will bring the total number of potential LNG import projects in the country to eight. Currently, Pakistan has only one active…
US LNG Exports to Increase: EIA
U.S. Energy Information Administration (EIA)'s latest Short-Term Energy Outlook projects that the United States will export more natural gas than it imports in 2017. The U.S. has been a net exporter for three of the past four months and is expected to continue to export more natural gas than it imports for the rest of 2017 and throughout 2018. The nation’ status as a net exporter is expected to continue past 2018 because of growing U.S. natural gas exports to Mexico, declining pipeline imports from Canada, and increasing exports of liquefied natural gas (LNG). The U.S.
Snam in Talks to Buy LNG Terminal Stake from Edison
Italian gas group Snam is in exclusive talks with EDF's Italian unit Edison to buy a stake in a liquefied natural gas terminal in northern Italy as part of plans to develop its LNG business, two sources said. Snam, controlled by state lender Cassa Depositi e Prestiti, is looking to buy Edison's 7.3 percent stake in Terminale LNG Adriatico and the gas pipeline that connects it to Italy's gas transmission backbone, the sources said. Adriatic LNG, which has a capacity of 8 billion cubic metres per year, is 70.7 percent owned by ExxonMobil and 22 percent by Qatar Petroleum.
Saudi, UAE Ports Bar Qatari Flagged Ships
Ports in Saudi Arabia and the United Arab Emirates' barred ships flying Qatari flags after the two countries broke off diplomatic ties with Doha, in a move that raised fears of disruption to oil and gas shipments from the Gulf OPEC member. The Saudi Ports Authority has notified shipping agents not to accept vessels flying Qatari flags or ships owned by Qatari companies or individuals, it said on its Twitter account on Monday, adding that Qatari goods would not be allowed to be unloaded in Saudi ports.
Swedish Town Karlshamn Says 'Yes' to Gazprom Port Deal
Officials in Karlshamn in southern Sweden will allow Russia's Gazprom to use the city's port for the construction of its Nord Stream 2 gas pipeline after the government dropped its objections, the municipality said on Tuesday. The government had earlier expressed concerns about Gazprom's plans to use the port, but said on Monday the project did not threaten defense interests. Late last year, the island of Gotland rejected a similar deal to support the construction of the pipeline after the government expressed worries about national security.
Sweden Drops Objections to Port Striking Nord Stream Deal
Sweden's government has dropped its objections to a plan by Russia's Gazprom to use the port of Karlshamn in southern Sweden as a base for the construction of its Nord Stream 2 gas pipeline, Swedish public radio reported on Monday. Officials in Karlshamn, on the Baltic sea, will take the formal decision on Tuesday, but are likely to vote yes to an agreement after the government tempered its previous objections to a deal. Late last year, the island of Gotland rejected a similar deal to support the construction of the pipeline after the government expressed worries about national security.
CNOOC Diverted Two LNG Cargoes from Tianjin After Pipeline Fire
China's state-owned energy company CNOOC diverted two cargoes of imported liquefied natural gas (LNG) after a pipeline fire in northern China's Tianjin, though imports were normal as of Monday, traders with knowledge of the matter said on Tuesday. Reuters reported on Dec. 28 that a natural gas pipeline in Tianjin was closed after it ruptured and caught fire. Two sources with knowledge of CNOOC's gas operations in Tianjin said CNOOC diverted the LNG cargoes after the accident on the pipeline, which is connected to a domestic gas consumer.
Empire State Stake, Melbourne Port Among Q3 Sovereign Fund Acquisitions
An Australian port and a stake in the Empire State Building's operator were among assets acquired by sovereign investors such as wealth funds and state pension funds in the third quarter of 2016, with deals totalling $21.2 billion. The combined value of deals was up 38 percent from the previous quarter, helped by a handful of jumbo-sized transactions in the infrastructure, energy and real estate segments, although the number of direct investments fell to 35 from 43 in the second quarter, according to data from Thomson Reuters.
First Shipload of LNG Arrives at Skangas Terminal Finland
Sunday July 10th 2016 the first shipload of liquefied natural gas (LNG) arrived at the Gasum’s subsidiary Skangas LNG terminal in Pori. To be completed in August, the facility is the first LNG import terminal in Finland. LNG was brought with the time chartered Skangas Coral Energy carrier from the North West Europe. The Skangas LNG terminal is undergoing commissioning, and commercial deliveries to customers will begin in September. LNG will help diversify the Finnish energy market…
Gazprom Wins Green Development – Evolution Awards
Gazprom was announced the winner of the All-Russian Green Development – Evolution Awards 2016 in the Best Green Tech Solution category. The award was presented by competition committee chairman Sergey Donskoy, Minister of Natural Resources and Environment of the Russian Federation. The Company was awarded for developing and introducing technologies that ensure high energy efficiency and reduce specific greenhouse gas emissions. These technologies include the use of mobile compressor stations without venting gas to the atmosphere from the gas pipeline section under repair.
JPMorgan sees Sharp Rise in Precarious O&G Loans
JPMorgan Chase & Co disclosed on Friday that its "criticized" loans to the oil and gas industry more than doubled in the first three months of the year. Criticized oil and gas loans, which are defined by regulators as doubtful, substandard or deserving of special mention, rose to $9.7 billion at the end of March from $4.5 billion at the end of December, according to a quarterly filing the company made with the U.S. Securities and Exchange Commission. Of the criticized loans, $8 billion were still performing, according to the filing.
Boskalis Wins Abu Dhabi Dredging Contract
Royal Boskalis Westminster N.V. has won a contract from the National Petroleum Construction Company of Abu Dhabi, UAE for dredging work related to the installation of an offshore gas pipeline of the Abu Dhabi National Oil Company as well as to an existing offshore gas pipeline. Boskalis will dredge a more than 50-kilometre-long trench between Das Island and Ras Al Qila in onshore Abu Dhabi for the new pipeline installation. Dredging work is scheduled to commence in phases from this quarter onwards and is expected to be completed in the second half of 2017.