GofM Energy Hub: LNG Exports to India Planned

Press Release
Thursday, April 25, 2013
Principals Sign the Agreement: Photo credit United LNG

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 purchase and sale by the year's end. The agreement will provide for United LNG to supply a minimum of 4 MTPA (million tons per annum) of LNG with the potential for additional supply, for a 20-year term thru the Main Pass Energy Hub™ which is being jointly developed by United LNG and Freeport McMoRan Energy. Additionally, Petronet is exploring the possibility to purchase a stake in United LNG's liquefaction facilities located in the Gulf of Mexico and partner with United LNG, as this has become the industry standard in recent years in order to reduce project risk. The parties said the commercial details are confidential.

Petronet LNG Managing Director & CEO, Dr. A.K. Balyan said, “Petronet LNG is delighted to have executed our first USA based LNG supply off take agreement and looks forward to moving ahead with United LNG and their strong JV partner Freeport-McMoRan Energy. As both a reliable and low cost LNG supplier, the USA is now the world's prime target to secure LNG, and this agreement with United is another big step forward to meeting India's growing demand for clean energy.”

Stephen Payne, Chairman & General Partner of United LNG, LP said, “Petronet is our largest single LNG buyer and our second customer on the Sub-Continent, and we are proud to be working with them. United LNG now has supply agreements totaling 12 mtpa, which represent half of our total off take capacity. At this week's LNG conference, we made significant progress negotiating with 12 potential customers on 3 continents and we expect to be fully subscribed very soon."

Furthermore, Freeport-McMoRan Energy LLC, a subsidiary of McMoRan Exploration and United LNG are engaged in a JV effort to utilize McMoRan’s Main Pass Energy Hub™ (MPEH™) as a facility/terminal to receive, store and condition natural gas for off loading to Coastal Liquefaction Storage and Offloading vessels for export. Main Pass has received a Free Trade Agreement (FTA) LNG export license from the U.S. Department of Energy for the facility to export 24 million tonnes per annum (which is the single largest LNG export license granted by the DOE); a Non-FTA application has also been filed and is awaiting DOE approval.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Team Britannia, GAC Inks Partnership Deal

As Team Britannia prepares for its bid to break the round-the-world powerboat record later this year, GAC has been named their official shipping and logistics partner.

Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

Offshore

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

Seacat Services Sends Freedom to Race Bank

Seacat Freedom, the latest addition to Seacat Services’ 12-strong fleet, has been dispatched to DONG Energy’s Race Bank offshore wind project following the boat’s

LNG

Ship of the Year Award for NYK Vessel

Japan's first LNG-fueled ship, Sakigake, which is a tugboat owned by NYK has been recognized with a Technology Special Award at the 2015 Ship of the Year Awards

First U.S. LNG shipment to cross expanded Panama Canal

The United States will ship its first liquefied natural gas (LNG) cargo through an expanded Panama Canal next week.   The waterway shaves distances between export

GTT Cuts Outlook on Ship Construction Delays

French supplier of systems for marine transportation of liquified natural gas (LNG) Gaztransport & Technigaz (GTT) reported strong growth in its first half results

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0885 sec (11 req/sec)