The U.S. Department of Energy has renewed authorization for liquefied natural gas (LNG) exports from the North Kenai ConocoPhillips facility, reports Reuters. The approval is to export about 40 billion cubic feet of natural gas from its Kenai LNG export terminal in Alaska over the next two years starting Feb. 19. U.S. Senator Lisa Murkowski applauded the decision. Over the last year she has been urging Department of Energy officials to support ways to commercialize Alaska’s natural gas reserves like the current Conoco facility as well as the Alaska LNG project. The Kenai facility was the first LNG export facility in the United States. Most of the gas exports from Kenai have gone to Japan since the plant entered service in 1969. The federal approval will allow ConocoPhillips to export gas to any country the United States has a free-trade agreement with or any other country with which trade is not prohibited by U.S. law.
Japanese trade minister Toshimitsu Motegi calls for early U.S. approval for exports to his country of liquefied natural gas (LNG). The Japanese minister made his request at a meeting with Acting Energy Secretary Daniel Poneman, stating that securing a relatively cheap energy source is crucial for Japan, reports the 'Wall Street Journal' citing Kyodo news. Mr. Poneman told Mr. Motegi at a recent press conference that he fully recognized that U.S
The United States turned into a net natural gas exporter for a day after the first liquefied natural gas export from Cheniere Energy Inc's Sabine Pass terminal in Louisiana left for Brazil on Wednesday. The United States however is not expected to become a net exporter of gas on an annual basis until 2017 after more pipelines to Mexico and LNG export terminals enter service, according to federal energy estimates.
Iran has signed a memorandum of understanding (MOU) to export natural gas to Italy, to be implemented by 2011, says an IranMania report. Iran will also export gas to China by the end of the current year. China’s oil giant Sinopec Group signed a $70 billion oil field development and LNG agreement with Iran earlier this fall, according to the report. Iran will attain an annual LNG export of 36 million tons, worth $6 billion, by 2015. Source: IranMania
The U.S. House of Representatives passed a bill on Wednesday to speed permits for exports of natural gas, a measure that even if passed by the Senate and signed into law by President Barack Obama, is not expected to help bring much new fuel to global markets. Lawmakers voted 277 to 133 to approve the bill, sponsored by Republican Bill Johnson of Ohio, that would force the U.S. Department of Energy (DOE) to decide within 30 days on applications to export liquefied natural gas, or LNG.
Asian spot prices for liquefied natural gas (LNG) slid for the third straight week, as pressure mounted from new Australian and U.S. supplies, traders said. LNG for April delivery in Asia eased to $4.30 per million British thermal units (mmBtu), down 20 cents from the previous week. Traders said they expected prices to fall below $4 during the summer as supply continues to pick up from new projects.
2017 will be a tough year for LNG shipowners as rates are expected to remain under pressure, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. This year has started on a positive note for LNG shipowners as spot rates have firmed up to the West of Suez because of seasonal demand for LNG. Many analysts have started writing positive stories about the LNG shipping market believing that the momentum in rates will continue.
Kitimat LNG partners Apache Canada Ltd. (Apache Canada) and EOG Resources Canada Inc. (EOG Canada) announced that they have agreed to purchase the 50 percent interest in the Pacific Trail Pipelines Limited Partnership (PTPLP) they do not own from Pacific Northern Gas Ltd. (PNG) for $50m. Apache Canada and EOG Canada will pay PNG $30m on closing – expected by the end of February – and a second payment of $20m when the purchasers decide to proceed with construction of the Kitimat
Braemar Engineering, the marine and LNG technical consultancy arm of the Braemar Shipping Services PLC group, announced it has been appointed as Owner’s Engineers for United LNG, LP in the world’s largest floating LNG production project. The project, situated offshore near Venice, Louisiana in the Gulf of Mexico, will be the world’s largest floating LNG export project, with three floating liquefaction units projected to export up to 24 million metric tons per annum (MTPA)
United LNG, LP and Petronet LNG Limited, India's largest LNG importer, agree to supply LNG from the Main Pass Energy Hub™ project in the Gulf of Mexico. The (conditional) agreement was signed by Petronet LNG Managing Director & CEO, Dr. A.K. Balyan and Stephen Payne, Chairman & General Partner of United LNG, of the United States, at the LNG 17 Conference held in Houston, Texas. The parties said they would continue working toward a final Sales Purchase Agreement to conclude the
Natural gas is set to account for an increasing share of the global energy mix in coming years, with gas consumption growing by an average of around 1.5%-2% a year out to 2040, according to energy forecasting agencies such as the IEA.
With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas futures contract in May.
French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported. It has signed an agreement with Iranian authorities for a 50 per cent stake in
Once considered the future of gas production, floating liquefied natural gas (FLNG) projects have been firmly relegated to the backburner as global gas producers seek cheaper ways to compete with a surge in U.S. shale supplies and slumping prices.
New legislation proposed this week would require up to 30 percent of U.S. liquefied natural gas (LNG) exports to travel on U.S.-flagged vessels. The U.S. is expected to continue ramping up its LNG exports in the coming years and become a net exporter by 2020, yet there are currently no U.S
Total is in talks to buy a multi-billion dollar stake in Iran's partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major -- the first of its peers to strike deals in Iran after sanctions -- seeks entry into Iran LNG at a
LNG Demand Set to Outpace Gas Demand Growth from 2015 to 2030 Shell launches LNG Outlook Global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year
Once upon a time, before the Chinese economic boom captured so much of the attention of the world of shipping, the US was a more important demand source for seaborne trade, says Clarksons Research. Its share of global imports is lower today
NextDecade LLC has signed lease agreements with the State of Texas and City of Texas City for a close to 1,000-acre site at Shoal Point for the potential development of a multi-billion dollar liquefied natural gas (LNG) export facility.
Asian spot LNG prices extended losses this week as oversupplied Japanese utilities sought to offload cargoes and as key European gas benchmarks softened. Asian prices for LNG delivery in March fell 25 cents to about $7.75 per million British thermal units (mmBtu), traders said
Australia's plans for a huge increase in its production of liquefied natural gas are being dealt a big blow by a series of production delays, as energy companies struggle with technical problems and cost overruns. The country is still likely to become the world's biggest LNG exporter
The biggest divergence between U.S. and Asian gas prices in a year has created an opportunity for tankers delivering liquefied natural gas, with most departures from a key Louisiana terminal in the last month-and-a-half heading toward East Asia, shipping data released on Wednesday show.
On the November 25, 2016 Europe Technologies Group signed a Memorandum of Agreement with the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited in Nantes, France. This Trinidad-based ship repair arrangement with the expert guidance of the Europe Technologies Group
NextDecade Global Solutions, a subsidiary of NextDecade, LLC, and FLEX LNG have signed a Heads of Agreement (HOA) to create a full value chain solution for customers looking to purchase LNG from NextDecade’s Rio Grande LNG export project in Brownsville, TX.
Asian spot liquefied natural gas (LNG) prices rose this week on the back of rallying gas benchmarks in Europe and a production outage in Angola. The price of LNG for December delivery was $7.20 per million British thermal units (mmBtu), up around 25 cents from a week earlier