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.
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.
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)
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.
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.
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
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
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, 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
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.
Mitsui O.S.K. Lines, Ltd. today announced that the LNG carrier CESI Qingdao — ordered by a joint venture of MOL, China COSCO Shipping Corporation Limited and China Petroleum & Chemical Corporation (SINOPEC) — was delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd
NYK, the Mitsubishi Corporation (MC), Toho LNG Shipping Co., Ltd. (Toho LNG Shipping), and Tohoku Electric Power Co., Inc. (Tohoku Electric Power) will participate in the joint ownership of a new liquefied natural gas (LNG) vessel for the Cameron LNG project in the U.S
NYK and Kansai Electric Power Co., Inc. (KEPCO) have agreed to joint ownership of a liquefied natural gas (LNG) carrier through a vessel-owner company shared by the two companies: NYK 30 percent, KEPCO 70 percent. The vessel is being built at the Sakaide shipyard of Kawasaki Heavy
A Joint Venture comprising The Shipping Corporation of India Ltd. (SCI), Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and Petronet LNG Ltd (PLL), have taken delivery of a new build Liquefied Natural Gas (LNG) carrier MT
Japan's JERA Co, the world's biggest importer of liquefied natural gas (LNG), on Thursday said it made its first-ever purchase of LNG from the lower 48 U.S. states, as part of its goal to diversify supplies. JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power
Chevron Corporation today announced a $19.8 billion capital and exploratory investment program for 2017. Included in the 2017 program are $4.7 billion of planned affiliate expenditures. "Our spending for 2017 targets shorter-cycle time
A consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and the Shipping Corporation of India Ltd. (SCI) took delivery of a new liquefied natural fas (LNG) carrier on November 30, 2016, in South Korea.
ExxonMobil expects to deliver 7.9 million tonnes of liquefied natural gas from Papua New Guinea this year, around 14 percent above nameplate capacity of its PNG LNG plant, says a report in Reuter's quoting the company's PNG head.
ExxonMobil, Babcock International Group, Bernhard Schulte Shipmanagement (BSM), Calor and Orkney Islands Council have signed an agreement to collaborate in the “Caledonia LNG ” project. The aim is to develop the infrastructure, storage and technical support needed to enable safe
Aiming to develop the infrastructure, storage and technical support needed to enable safe liquefied natural gas (LNG) operations for customers in the north of the U.K. and North Sea, including bunkering, partners ExxonMobil, Babcock International Group, Bernhard Schulte Shipmanagement (BSM)
Svitzer Americas’ newest vessels Svitzer Monte Cristi and Svitzer Catuan have been delivered by Turkish tug builder Sanmar. The boats, which will be operated in the Dominican Republic, are Ramparts 2400 SX class tugs, designed by Robert Allan Limited exclusively for Sanmar
Woodfibre LNG, Canada's first liquefied natural gas export project, will be a "nice-to-have" fillip for the country's gas producers but does not signal the start of a west coast LNG boom, industry watchers said on Monday. Privately held Woodfibre LNG Ltd said on Friday it will
At this year’s Offshore Energy exhibition, global deck machinery specialist ACE Winches announced a new 500te Linear Winch to its range of specialized deck equipment. The company will showcase its range of products and services supplied to European clients operating within marine
A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters.
Teekay LNG Partners L.P. has entered into a 15-year time-charter contract with the Yamal LNG project, sponsored by Novatek OAO, Total SA, China National Petroleum Corporation and Silk Road Fund, to provide Yamal LNG with conventional liquefied natural gas (LNG) transportation services