Cheniere to Sell US LNG to China's Foran Group
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said Wednesday its marketing arm agreed to sell LNG to a unit of Chinese natural gas distribution company Foran Energy Group Co Ltd for 20 years starting in January 2023.Analysts said the deal should move Cheniere closer to making a final investment decision (FID) to build the proposed Stage 3 expansion at its Corpus Christi plant in Texas, which is expected in 2022.The deal is one of several announced in recent weeks…
Saibu Gas, Novatek JV to Market LNG
Japanese natural gas distribution company Saibu Gas and Russian LNG project operator Novatek revealed plans to form a joint venture.Novatek announced that it has signed the Heads of Agreement (HoA) with Saibu Gas in the presence of the Minister of Economic Development of the Russian Federation Maxim Oreshkin.According to the Agreement, the Parties intend to establish a joint venture focused on marketing LNG and natural gas to end customers and developing the business for bunkering and gas-fired power generation in Japan and the Asian region, as well as constructing and operating a new LNG storage tank at the Hibiki LNG terminal.“We have made another important step forward in implementing our strategy to enter the end customer market in key gas consuming countries…
ENGIE, Wärtsilä to Develop Small Scale LNG Markets
ENGIE has signed a Memorandum of Understanding (MoU) with Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets to develop solutions and services in the small scale LNG business. The cooperation covers four work streams: LNG for ships, LNG distribution in islands and remote areas, LNG to Power solutions and small scale LNG and bio liquefaction. Both ENGIE and Wärtsilä are committed to work for a low-carbon economy and shifting from coal or diesel towards LNG-solutions is an important step in the right direction. Through this partnership, both companies will share Wärtsilä’s technical expertise and Engineering Procurement and Construction capabilities and ENGIE’s technical expertise…
Chevron and ENN Sign Gorgon LNG Agreement
Chevron Corporation announced that its Australian subsidiaries have signed a non-binding Heads of Agreement (HoA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas (LNG) to China from the Chevron-operated Gorgon natural gas project in Australia. When the deal is finalized, ENN is expected to receive up to 0.5 million metric tons per annum (MTPA) of LNG over 10 years, with deliveries starting in 2018 or the first half of 2019. “This is one more step in the development of our Australian gas business and our global LNG portfolio…
RINA Group to Project-Manage Indonesian FSRU
Italy-based RINA Group will deliver concept selection, FEED, support during negotiations with potential shipyards, project management during construction, and support for commissioning for a new floating LNG FSRU terminal in South Sumatra, Indonesia. RINA has been appointed by PGAS Solution, a subsidiary of PGN, Indonesia’s largest natural gas distribution company, which will own and operate the FSRU. The Floating Storage and Regasification Unit is to serve as an LNG importing hub for PGN in South Sumatra and will have a storage capacity of 170…
LNG Facility Expansion Halted Due to Leakage Concerns
The US Court of Appeals for the vacated an order of the Federal Energy Regulatory Commission (FERC) granting permission for expansion of the liquefied natural gas (LNG) facility at Cove Point. A local natural gas distribution company that receives natural gas from the facility sought review of the expansion order, arguing that the expansion project would cause severe leakage throughout its distribution system. The court found that substantial evidence supports FERC’s conclusion that any threat of leakage is due to defects in the local distribution company’s system. The court also found, though, that substantial evidence does not support FERC’s conclusion that the local distribution company can address safety concerns before the project’s in-service date.
Bergen Engines to Power Coastal Ferries
A fleet of passenger/vehicle ferries fuelled with liquefied natural gas (LNG) is to be built to serve two important link routes on the Norwegian coast. Three of the double-ended vessels will shuttle between Halhjem and Sandvikvåg, joining sections of the E39 highway along the coast south of Bergen, the other two between Arsvågen and Mortavika in the Stavanger region. These routes are the second and third most intensively used ferry links in Norway in terms of passenger and vehicle numbers. The vessels are to be built at Aker Yards for Fjord 1, and are scheduled to go into operation at the beginning of 2007. The ferries are an important element in Norway’s plan to introduce a natural gas distribution infrastructure…
LNG-Fueled Ferries Powered by Rolls-Royce
Rolls-Royce gas fueled engines power five new ferries that went into service on two routes on the west coast of Norway in January 2007. Norway is dependent on passenger/vehicle ferries to connect sections of the road network. Deep and wide fjords cut far into the country and the new ferries provide two essential connections in the E39 highway up the west coast. Traditionally, diesel powered ferries have provided this link and the decision to use liquefied natural gas (LNG) as fuel was influenced by several factors. Because of the mountainous and difficult nature of the terrain and the long coastline, sea transport plays a much larger part in the Norwegian economy than in most countries. Exhaust gas pollution from the maritime sector is therefore a larger proportion of the total.
Southern Union Reports Solid 3Q Earnings
Southern Union Company reported net earnings available for common shareholders of $15.2 million ($.13 per diluted share, hereinafter referred to as "per share") for its third quarter ended September 30, 2005, compared with a net loss of $11.5 million ($.14 loss per share) for the same period in 2004. The increase in net earnings is attributable to improved results from the company's operations in interstate transportation and storage of natural gas as well as improved performance in its natural gas distribution segment. Southern Union's transportation segment recorded earnings before interest and taxes ("EBIT") of $68.1 million for the three-month period ended September 30, 2005, compared with $38.4 million for the same period in 2004.
