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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.


New Vladivostok LNG Terminal Project on Track

Rendering courtesy of Gazprom

At a recent meeting of Gazprom's Management Committee, Chairman Alexey Miller noted that the project was progressing rapidly and on schedule – the first train of an LNG plant will be commissioned in 2018. Gazprom explains that it aims to speed up new LNG projects in order to increase their share in the global gas market. Vladivostok-LNG is one of such projects.


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)


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.


Global LNG Prices Hold Steady in Weak Trade

Asian spot liquefied natural gas (LNG) prices were little changed on Friday as mild demand and the extended holiday period kept a lid on trading activity.   The spot price for February was steady at about $10.10 per million British thermal units (mmBtu), in line with the previous week. Traders said, however, that prices were nominal given there was limited activity.   Brazil's state-run energy giant Petrobras has shown interest in purchasing spot cargoes, one trader said


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.


Veresen, Itochu in Jordan Cove LNG deal

Jordan Cove LNG. Image: Veresen

 Veresen, the developer of the Jordan Cove LNG facility in Oregon, has announced a preliminary agreement on key commercial terms with Itochu, including the purchase of 1.5 million mt/year of LNG (190 MMcf/d or 70.1 Bcf of gas) for an initial term of 20 years.   Veresen recently signed another commercial agreement with JERA Co. in March.   "This is the second major customer agreement for the Jordan Cove LNG project and it represents further proof of the market support


Yamal LNG Arctic Project in Doldrums

Yamal LNG in the Icy Russian Arctic. Photo by Total

 The massive $27 billion Yamal LNG liquefied-natural-gas venture in the Arctic Circle, a centerpiece of President Vladimir Putin’s plan for Russia has been squeezed by U.S. restrictions on OAO Novatek, says a report in the WSJ.   Through this project, Russia wants to reduce its heavy dependence on natural-gas customers in Europe by increasing exports to Asia and, in turn, cementing Russian ties with China.  


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


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


MOL's LNG Carrier KUMUL Delivered

At the naming ceremony Courtesy MOL

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced the delivery of the LNG carrier KUMUL at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) in Shanghai on April 29. A naming ceremony was held at the shipyard on April 8


China Equipments to Yamal LNG

Image: Yamal LNG

 The first shipment of a ‘core kit’ for Russia’s Yamal LNG project has set sail for northern Russia from the Chinese port of Qingdao.   China's first batch of two air cooled condensing modules of LNG project are the biggest and heaviest kits being used for the project


Chevron Suffers Loss, Plans Job Cuts

Photo: Chevron Corp

 Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016, up from a previously stated goal.  


Sinopec Rolls Out Beihai LNG-import Terminal

Image: Sinopec

 China Petroleum and Chemical Corp (Sinopec) has taken delivery of the first LNG cargo at its new terminal at Beihai City in Guangxi Zhuang, with the arrival yesterday of the LNG carrier Methane Spirit, delivering a cargo from ConocoPhillips-operated Australia Pacific LNG (APLNG)project in


McDermott Names Flagship Pipelayer in Singapore

The DLV 2000 pipelay vessel under way during sea trials off Singapore in April 2016. (Photo: McDermott)

McDermott International, Inc. formally named its flagship Derrick Lay Vessel 2000 (DLV 2000) during a ceremony at the Keppel Singmarine Shipyard in Singapore.   Brenda Cuthbertson, wife of 38-year McDermott employee and Asia Area Vice President Hugh Cuthbertson


French Banks Eye Yamal LNG Project

Image: Yamal LNG

 French banks may participate in lending for the Russia's Yamal liquefied natural gas (LNG) project, a relevant agreement may be signed in 2016, Tass reported quoting Russia's Economic Development Minister Alexei Ulyukayev.   "As for French banks - we have made very serious


LNG Producers Seek New Markets to Soak up Surplus

The world's top producers of liquefied natural gas (LNG) are investing in ship-fuelling operations, floating import terminals and power plants to open new markets and keep from drowning in a fuel surplus expected to last into the next decade.  


Total, KOGAS Extend Cooperation on LNG

Image: Korea Gas Corp

 Korea Gas Corp, the world’s biggest importer of LNG, has struck deals with French giant Total to extend its reach into the liquefaction sector, reports Reuters.   Total has pledged to press forward with investment in LNG despite the downturn in oil and gas prices and has signed


Total to Broaden LNG Cooperation with Korea Gas

French oil and gas company Total said on Wednesday that it signed an agreement with Korea Gas to extend the cooperation in their liquefied natural gas (LNG) businesses.   The agreement is designed to jointly identify and pursue opportunities to develop the LNG market in Asia and in new


LNG Names New MD

Developing a LNG export terminal. Image: Liquefied Natural Gas Limited

 Australia's Liquefied Natural Gas Limited (LNGL) has appointed Chevron executive Greg Vesey to replace company founder Maurice Brand as managing director and chief executive.   Brand will continue on with LNG as an executive director until his retirement in June next year


Dynagas Clinches New Time Charter Contracts

OB RIVER. Photo by Dynagas LNG Partners LP

 Dynagas LNG Partners, the owner and operator of LNG carriers, has signed an extension and two new charter deals with Gazprom for the 2007-built Ob River until May 1, 2018.    In addition, the Partnership has entered into a new long-term time charter agreement with Gazprom


Dynagas Partners inks long-term deals for two LNG Vessels

Courtesy Dynagas Partners

Dynagas LNG Partners LP enters into new long-term time charter agreements for two of its LNG carriers and maintains current level of cash distribution following its latest drop down from its Sponsor Monaco – March 31, 2016 –Dynagas LNG Partners LP


Adani Offers Dhamra LNG Stake to IOC, GAIL

Gautam Adani, chairman and founder of the Adani Group. Photo: Adani Group

 Adani Group has offered 49% stake in its Rs. 5,000-crore ($750 million) Dhamra liquefied natural gas (LNG) project in Odisha to the state-owned oil and gas companies GAIL India and Indian Oil Corporation (IOC), according to a PTI report.    


LNG Trade Routes in Flux as New Supply Brings Price Convergence

Australia's ascent to liquefied natural gas (LNG) producing giant is choking off trade routes from Atlantic to Pacific markets established after Japan's Fukushima nuclear disaster, giving rise to new routes.   Mass cargo diversions from west to east earned traders fat margins as Asian


Novatek CEO: Sanctions Hurt Yamal LNG, Upbeat on Plans

International sanctions have undermined the ability of Russia's Yamal LNG project to raise necessary funds but it will be launched as scheduled, Leonid Mikhelson, head of the plant's main shareholder, said in a televised interview on Tuesday.  






 
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