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 Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

GE Gas Turbines to Power US Navy’s New Destroyers

The U.S. Navy’s new DDG 121 and DDG 122 Arleigh Burke-class destroyers will be powered by eight LM2500 marine gas turbines supplied by GE Marine, who also received

Tanker Retrofitted with Dual Fuel Engine

Caterpillar Marine informs it has begin a dual fuel engine retrofit conversion onboard the 472-foot Fure West tanker, owned by Furetank Rederi A/B. The MaK M 43

Diana Charters Containership to Maersk

Container shipping company Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Maersk

Offshore

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

BG Group Starts up Sixth FPSO in the Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the

BG Awards Fugro MBES, Seabed Coring Contract

Fugro has been awarded a contract by BG International Limited Sucursal Honduras to conduct an integrated multibeam echosounder (MBES) survey and seabed coring campaign

LNG

Tanker Retrofitted with Dual Fuel Engine

Caterpillar Marine informs it has begin a dual fuel engine retrofit conversion onboard the 472-foot Fure West tanker, owned by Furetank Rederi A/B. The MaK M 43

Canada's First LNG Ferry Launches with Bestobell Valves

Bestobell Valves is celebrating supplying cryogenic valves to Canada’s first LNG-fuelled ferry – the MV Armand-Imbeau II, which has recently been launched.   It

GasLog Orders Two LNG Carriers

GasLog Ltd. today announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.1716 sec (6 req/sec)