Lng Project

Marubeni to Participate in Peru LNG Project

Marubeni Corporation has signed the Sales and Purchase Agreement with SK Energy for the acquisition of 10% interest in the Peru LNG Project. The international project consortium for the project consists of Hunt Oil Company (50%) of the United States, SK Energy (20%) of Korea, Repsol YPF (20%) of Spain and Marubeni Corporation (10%) of Japan. This project, located on the west coast of Peru in the South America, has geographical advantage to supply competitive LNG products not only to the Latin America market and U.S. West Coast market but also to Asian Far East market as possible alternative destination. Natural gas feedstock will be supplied from Camisea gas field and processed at LNG Plant located at Pampa Melchorita area, south of Peruvian capital Lima. The Engineering, Procurement and Construction contract for the project was awarded to the Chicago Bridge & Iron Company and single train LNG plant with production capacity of 4.45 million metric tons per year is currently under construction. The LNG supply will commence in 2010 under the sale and purchase agreement with Repsol YPF. The total project cost is estimated at approximately $3.8b. Financing for the project is expected to be provided by a variety of sources, including the Inter-American Development Bank, Export-Import Bank of the United States, Export-Import Bank of Korea, SACE and IFC.

Port Arthur LNG Project Meetings Ccancelled

Because of damage in the area due to Hurricane Rita, the Federal Energy Regulatory Commission (FERC) is canceling its planned public comment meetings in Vinton, Louisiana and Port Arthur, Texas for the draft Environmental Impact Statement (EIS) for the Port Arthur LNG Project until further notice. The period for submittal of written comments, though, has been extended to December 16. 70 Fed. Reg. 57592 (HK Law)

Shell to Decide on Iran's Persian LNG Project in 2007

Royal Dutch Shell PLC is to decide in 2007 whether to invest in Iran's Persian LNG project, its chief executive said on May 4. Speaking at a press conference, Jeroen van der Veer said "we are aware of the short-term developments," referring to international tensions surrounding the country's nuclear program. But he added "we intend to make a decision in the year 2007." In 2004, the National Iranian Oil Co. signed a framework deal in 2004 with Shell and Repsol YPF SA to form the Persian LNG

Neptune LNG Project Secures Deep Water Port License

MarAd has decided to issue a deepwater port license to SUEZ Energy North America's subsidiary, Neptune LNG LLC to build, own, and operate the Neptune offshore LNG delivery system in Massachusetts Bay. Neptune is the first offshore LNG project on the United States' East Coast to reach this milestone. The Neptune terminal will be based on the LNG Shuttle and Regasification Vessel System (SRV) developed by Höegh LNG.

Total to Invest in Iran's LNG Project

Iranian Oil Minister Gholam Hossein Nozari said that the French oil company, Total, has voiced preparedness to make a $12b investment in Iran's Liquefied Natural Gas (LNG) project. Speaking to reporters on the sidelines of an international meeting dubbed 'Geopolitical Developments of Energy and the Role of Natural Gas' here in Tehran on Sunday, the minister noted Total's readiness for investments in Iran, and stressed that the US sanctions against Iran's oil sector have produced no effect

FERC – Broadwater LNG Project

The Federal Energy Regulatory Commission (FERC) issued an official notice stating that the Final Environmental Impact Statement for the Broadwater liquefied natural gas (LNG) project that has been proposed for construction and operation in Long Island Sound has been prepared and is available to the public. The EIS concludes that such construction and operation, with the adoption of FERC and Coast Guard recommendations, would result in limited adverse environmental impacts.

PetroChina, Qatargas and Shell Sign First Long-Term LNG Deal

Qatargas, Shell and PetroChina signed binding sales and purchase agreements that will lead to the long-term supply of liquefied natural gas (LNG) originating from The State of Qatar to the rapidly growing Chinese market. The agreements were signed in by His Excellency Abdullah bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry of Qatar, Jiang Jiemin, President of National Petroleum Corporation and Chairman of PetroChina Company Ltd and Ms

First Ever LNG Project in the Black Sea

According to an April 18 report from the Georgian Daily Independent Voice, Azerbaijan, Georgia and Romanian are jointly launching a liquefied natural gas (LNG) project, designated as the Azerbaijan-Georgia-Romania Interconnector (AGRI). The three governments regard their project as an element in the EU-planned Southern Corridor for Caspian gas to Europe. AGRI envisages transporting Azerbaijani gas by pipeline to Georgia’s Black Sea coast, liquefying it there

Russian Yard Expects Arctic-class LNG Carrier Contract

United Shipbuilding Corporation may build four Arctic class LNG carriers for the Pechora LNG project in northern Russia. Developers of the project, Alltech's President Dmitry Bosov informed that preliminary agreements had been signed with Russia's United Shipbuilding Corporation for four ships with a deadweight tonnage of about 170,000 mt each, report Ria Novosti. The Pechora project includes development of the Kumzhinskoye and Korovinskoye fields in the Nenets Autonomous District

Dredging Contracts: Dutch Operator Shows Global Reach

Jan De Nul Group announce important contracts in Indonesia, Russia and Australia, and new giant dredger due soon from builders. In Indonesia an offshore island will be reclaimed. These works are a part of a large scale reclamation development north of Jakarta, where a 260 ha island is developed for Kapuk Naga Indah and designed for housing and recreation. One of Jan De Nul Group’s jumbo trailing suction hopper dredgers will be deployed.