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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.


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.


Yamal LNG Over 50% Complete

Photo: NOVATEK

 Novatek deputy chairman and CFO Mark Gyetvay said the Yamal LNG project in Russia have now passed the 50 percent overall completion mark.   Gyetvay noted that 100 percent of the Yamal LNG’s production capacity has been sold.   Additionally, he confirmed the first cargo from Yamal LNG’s first train, which has passed the 65 percent completion mark, will be shipped during the second quarter of 2017.  


Novatek Says Ships First LNG Cargo

Photo: NOVATEK

 Russia’s Novatek Gas & Power has supplied its first ever cargo of liquefied natural gas, marking the company’s first step into global LNG trading business.    The cargo was sourced from Trinidad & Tobago’s LNG plant in Point Fortin and delivered to the Quintero import terminal in Chile.   Deputy Chairman of Management Board - Commercial Director of NOVATEK Lev Feodosyev noted: “This first LNG cargo is an important milestone for NOVATEK


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.  


Thailand Boosts LNG Imports

Image: PTT LNG

 Thailand is signing new contracts for LNG purchases and expanding terminals to boost imports to replace flagging domestic production, Bloomberg reported.   Southeast Asia’s second-largest economy will boost LNG imports by more than 70 percent this year.  


Natural Gas Fleet Sail to the Future

Graph: Clarksons Research

 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.   


Asian Spot LNG Prices Slip on Weak Demand

© Altin Osmanaj / Adobe Stock

 Asian spot LNG prices fell this week on poor demand from major gas-consuming regions despite a slew of new purchase tenders.   The May spot LNG contract fell by $0.25 cents to $5.40 per million British thermal units (mmBtu), with new production coming on stream in Australia and the


Svitzer Orders Escort Tug from Sanmar

From left to right:  Sanmar Commercial Director, Rüchan Çıvgın with Svitzer Europe Managing Director, Kasper Friis Nilaus (Photo: Sanmar)

Svitzer has signed a contract with Sanmar to purchase a newbuild 80 tbp ASD escort tug for Southampton, U.K., strengthening its fleet to meet current and future customer requirements and reemphasizing its commitment to the port of Southampton.   


Deck Carrier BigRoll Beaufort Delivered

BigRoll Beaufort (Photo: BigRoll Shipping)

The heavy marine transportation provider BigRoll Shipping has reached a milestone. The fourth and final MC Class vessel for BigRoll shipping was handed over by Cosco Dalian Shipyard Co. Ltd to new owner BigRoll Shipping in Leiden, the Netherlands.  


Shell Shelves Prince Rupert LNG

Photo: Prince Rupert LNG

 Royal Dutch Shell PLC has officially shelved its plans to build the Prince Rupert LNG project, which had been planned for Ridley Island in British Columbia. However, it  is still considering the potential of its other West Coast LNG option.  


FLNG Production Bows out as US Exports Roil Market

File photo : Shell

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.  


MOL to Restructure Organization

Chart: Mitsui O.S.K. Lines

 The Japanese shipping company  Mitsui O.S.K. Lines, Ltd (MOL) will restructure its organization effective April 1, says a press statement from the company.   MOL is establishing the Product Transport Business Unit, under which much of the carrier and port divisions will reside


Novatek Says No Need to Borrow More for Yamal LNG Project

Russia's largest private gas producer Novatek has no need to increase borrowing as it has sufficient funds for investments into its Yamal LNG project, the company's management said on Wednesday. At a conference call with analysts, Novatek's chief executive Leonid Mikhelson said his company has


Sino-Australian Seaborne Trade

Graph: Clarkson Research Services Limited

 In recent decades, trade between the Australia and China have made an increasingly significant contribution to growth in global seaborne trade, and the signing of the China-Australia Free Trade Agreement in 2015 is driving further co-operation, says a report by Clarkson Research Services.


NextDecade Takes Aim at Texas City for LNG Export

Photo: NextDecade, LLC

 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.  


Oversupplied Japanese LNG Players to Sell off Excess Volumes

© akiyoko / Adobe Stock

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


Christophe de Margerie Arrives in Zeebrugge

Photo: Port of Zeebrugge

 Christophe de Margerie, the world’s 1st top category ice-class LNG carrier, docked at Zeebrugge LNG terminal January 20, 2017, for a series of scheduled operations.   Christophe de Margerie will be delivered to Sovcomflot on 31 January, says Seafarers’ Union of Russia (SUR)


Australian LNG Projects Face Delays, Benefiting US Producers

Shells Prelude floating LNG production vessel (Photo: Shell)

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


Tata to Invest in Swan LNG Project

 Tata Realty and Infrastructure Ltd (TRIL) is taking 10 percent stake in a Rs. 5,900 crore ($867 mln) floating LNG import terminal being set up by Nikhil Merchant led Swan Energy in Gujarat.   This will be the first investment by Tata Group in gas business






 
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