LNG Sabine Pass Terminal Contract Signed

Press Release
Thursday, December 27, 2012
Sabine Pass Terminal: Image credit Cheniere Partners

Cheniere Energy Partners' subsidiary Sabine Pass Liquefaction signs a LNG sale and purchase agreement with Total Gas & Power North America.

Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana.  The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).

Under the terms of the agreement Total has agreed to purchase 91,250,000 MMBtu of LNG annually plus 13,500,000 MMBTU of seasonal LNG volumes upon the commencement of train five operations.  These volumes represent approximately 2.0 million tonnes per annum ("mtpa") of the approximately 4.5 mtpa of nominal capacity of train five being developed at Sabine Liquefaction.

Sabine Liquefaction is currently developing five liquefaction trains adjacent to the Sabine Pass LNG terminal.  The first two trains are under construction and the third and fourth trains are expected to commence construction in 2013.  As previously announced, a partial assignment agreement was entered into between Sabine Liquefaction and Total, allowing Sabine Liquefaction to gain access to services under Total's terminal use agreement with Sabine Pass LNG, L.P., including Total's berthing and storage capacity, making further expansion of the LNG export capabilities at the Sabine Pass LNG terminal possible. 

Under the SPA, Total will purchase LNG on an FOB basis, under which LNG will be loaded onto Total's vessels, for a purchase price indexed to the monthly Henry Hub price plus a fixed component.  The SPA has a term of twenty years commencing upon the date of first commercial delivery for train five, and an extension option of up to ten years.  Deliveries from train five are expected to occur as early as 2018. 
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Ports

Rotterdam Integrates Safety Research with LNG Training Facility

The Dutch company Falck Risc is becoming the number one expert on LNG safety in Europe. Together with the Unified Fire Department, Falck Risc will draw up guidelines

Antwerp Port Seeks Inputs on Setting-up LNG bunkering

By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way.

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

LNG

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Rotterdam Integrates Safety Research with LNG Training Facility

The Dutch company Falck Risc is becoming the number one expert on LNG safety in Europe. Together with the Unified Fire Department, Falck Risc will draw up guidelines

Antwerp Port Seeks Inputs on Setting-up LNG bunkering

By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2893 sec (3 req/sec)