Cheniere Expects Rising LNG Demand with Vaccine Rollout
Cheniere Energy Inc, the top U.S. liquefied natural gas producer, on Wednesday raised its full-year adjusted earnings forecast, predicting higher demand for the fuel as COVID-19 vaccinations boost economic recovery.Lockdown measures implemented to curb the pandemic slashed demand for energy and hurt prices for natural gas in 2020. But with economic recovery in Asia, particularly in China, fuel sales have picked up.Shares rose 1% to $70.37 in midday trading, a more than two-year…
LNG Carriers Going to Sabine Pass Despite Grounded Rig
Tankers were entering and leaving Cheniere Energy Inc's Sabine Pass liquefied natural gas export plant in Louisiana despite draft limitations in the Sabine-Neches Waterway after a rig ran aground in the channel over the weekend.The U.S. Coast Guard said a large semi-submersible rig, called the Jasminia, drifted into and ran aground in the Sabine Bank Channel, limiting vessels entering the waterway to those with a maximum draft of 36 feet (11 meters).The waterway sits on the Texas…
Grounded Offshore Rig Limits Sabine Pass Ship Traffic
The U.S. Coast Guard said on Monday that a large semi-submersible rig drifted into and ran aground in the Sabine Bank Channel, limiting vessels entering the Sabine-Neches Waterway to those with a maximum draft of 32 feet (9.8 meters).The waterway sits on the Texas-Louisiana border and connects the Gulf of Mexico to Cheniere Energy Inc's Sabine Pass liquefied natural gas (LNG) export plant and to oil refineries in Port Arthur and Beaumont, Texas.That area is west of where two hurricanes struck in recent weeks.
LNG Carriers Wait in Gulf of Mexico for Hurricane Delta to Pass
More than half a dozen liquefied natural gas (LNG) tankers were waiting to enter U.S. export plants in the Gulf of Mexico as Hurricane Delta marches toward the Gulf Coast.Most tankers were located outside of Cheniere Energy Inc’s Sabine Pass and Cameron LNG’s Cameron plants in Louisiana, according to data from Refinitiv. There were also a few outside of Freeport LNG’s Freeport plant in Texas.Delta is expected to slam into central Louisiana as a major hurricane on Friday, putting the storm closer to Cameron than Sabine.
Asia LNG Price Hovers above $4/mmBtu as Hurricane Disrupts U.S. Exports
Asian spot liquefied natural gas (LNG) prices hovered above $4 per million British thermal units (mmBtu) this week as cargo loadings from the United States were delayed due to a powerful hurricane.The average LNG price for October delivery into northeast Asia <LNG-AS> was estimated at about $4.05 per mmBtu, down five cents from the previous week.Loadings of LNG cargoes from the U.S. have been delayed following Hurricane Laura, which made landfall early Thursday near the Texas-Louisiana border and is one of the most powerful storms to ever hit the region.U.S.
US Energy Exports Severely Disrupted by Hurricane Laura
Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports.The hurricane also temporarily suspended operations at several liquefied natural gas (LNG) facilities in the world’s third largest exporter of the super-cooled gas, with shipments on track to fall to their lowest in 18 months.Laura made landfall early Thursday near the Texas-Louisiana border…
US LNG Exports at 20-month Low
Natural gas flows to U.S. liquefied natural gas (LNG) export plants plunged this month after falling to a 20-month low in June as coronavirus lockdowns cut global demand for the fuel.Before the pandemic slashed energy demand, U.S. producers counted on LNG exports to keep growing fast as an outlet for their record gas output. But after soaring 68% in 2019 and 53% in 2018, U.S. LNG exports were only expected to rise about 7% in 2020.Gas pipeline flows to U.S. LNG export plants dropped…
Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts
Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. The world's biggest LNG markets - Japan, China, South Korea, and India - are all seeing a drop in demand. Asia's spot LNG prices dropped to $1.85 per million British thermal units (mmBtu) last week, the lowest ever, as cargoes have flooded the market. "At prices in the $2/mmBtu range ... some producers are getting close to not recovering cash costs of their operations.
Cheniere Working on Sabine Pass Trains 3, 4
Cheniere Energy Inc said on Monday it is conducting previously scheduled turnarounds on Trains 3 and 4 at the Sabine Pass liquefied natural gas (LNG) export terminal in Louisiana as part of its maintenance plan for the facility.The company did not say when the units would likely return to service but noted "a good general guide for timing" was work on Sabine Trains 1 and 2 earlier this year that lasted about three weeks.Cheniere has five liquefaction trains operating at Sabine…
US Gulf Production Restarting After Barry
U.S. oil companies on Monday began restoring some of the more than nearly 74% production shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the U.S. offshore drilling regulator said.There was 1.3 million barrels per day (bpd) of oil production off line in the U.S.-regulated areas of the Gulf of Mexico on Monday, about 80,000 barrels less than on Sunday, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).Workers also were returning to the more than 280 production platforms that had been evacuated.
Cheniere to build LA Sabine LNG Export Train
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said on Monday it will build the sixth liquefaction train at its Sabine Pass LNG export terminal in Louisiana.Cheniere also said it expects to make a positive final investment decision as early as 2020 to add about 9.5 million tonnes per annum (MTPA) of additional liquefaction capacity at its Corpus Christi LNG export terminal in Texas.Natural gas use is growing rapidly around the world as countries, like China, seek to wean their industrial and power sectors off dirtier coal. Cheniere is the biggest supplier of U.S.
U.S. LNG Shipments Fall to Six-Month Nadir
U.S. shipments of liquefied natural gas are expected to fall to their lowest level in six months in April, after a leading U.S. supplier shut units for maintenance at a time when a glut of supply has driven some worldwide prices to near three-year lows.Based on exports through April 10, the United States is on track to sell roughly 91.5 billion cubic feet per day (bcfd) of natural gas as LNG, which would be the lowest since October. That compares with an estimated record 139.8 bcfd shipped in March…
Gaslog Orders Two LNG Carriers at Samsung Heavy
The Monaco-based international owner, operator and manager of liquefied natural gas (LNG) carriers, GasLog Ltd said that two 180,000 cubic meter LNG carriers with low pressure two stroke (LP-2S) propulsion and GTT Mark III Flex Plus cargo containment systems have been ordered from Samsung Heavy Industries (SHI) in South Korea.The newbuilding ordered to fulfil the Charters Gaslog signed with the wholly owned subsidiary of Cheniere Energy, Inc each for a firm period of seven years.Gaslog expects delivery of the vessels in mid-2021."The Charters build on GasLog’s existing relationship with Cheniere, which now totals four newbuilds on order and the GasLog Partners LP owned GasLog Sydney…
Vessel arrives at Cheniere's Corpus Christi LNG Plant
A liquefied natural gas (LNG) vessel, the Maria Energy, arrived at Cheniere Energy Inc's $15 billion Corpus Christi LNG export facility in Texas on Saturday, according to Reuters vessel tracking data.This is the second vessel to visit Corpus since Cheniere started producing LNG in November at the plant's first liquefaction train, a building-sized unit used to cool natural gas into LNG. It could be the first vessel to pick up a cargo there.Cheniere said the first vessel, LNG Golar Tundra, did not pick up LNG.
Cheniere Inks 15-year LNG Sales Pact with Vitol
Cheniere Energy Inc said on Monday that it signed a 15-year agreement to supply liquefied natural gas (LNG) to the world's largest oil trader, Vitol Inc.Cheniere said it will sell 700,000 tonnes of LNG every year to Vitol, starting 2018 and the purchase price will be pegged to the Henry Hub monthly average, plus a fee.The United States has become a major LNG exporter in the last two years, mostly due to the ramp up of Cheniere's Sabine Pass terminal in Louisiana. Houston-based Cheniere is also building the Corpus Christi terminal in Texas.
Icahn Cuts Stake in Cheniere
Activist investor Carl Icahn has reduced his stake in energy company Cheniere Energy Inc to 9.5 percent, and said he was confident in the company's management and Chief Executive Officer Jack Fusco. Icahn, still the biggest shareholder of the company, had disclosed a stake of 13.8 percent in Cheniere in December 2015.
US LNG Projects Buoyed by China Import Talks
China's interest in reducing its trade surplus with United States through increased energy imports could advance plans for U.S. liquefied natural gas (LNG) plants, said energy executives involved in developing new facilities.The White House and China on Saturday said a U.S. trade team would travel to China to explore new energy and agricultural deals. The joint communique lowered trade tensions, lifting stock markets in Asia and the United States on Monday.There are over two dozen proposed U.S.
Tokyo Gas Takes First LNG Cargo from Cove Point
Japan received its first shipment of liquefied natural gas (LNG) on Monday from Dominion Energy Inc's newly completed Cove Point export plant, the beginning of a jump in imports from the United States by the world's biggest buyer of the fuel.The docking of the tanker LNG Sakura at Tokyo Gas Co's Negishi terminal near Tokyo is another marker of shifting global energy flows as the United States ramps up exports of gas and oil from shale formations.The cargo is the first of 2.2 million tonnes of LNG a year Japanese companies are purchasing under long-term contracts from Cove Point in Maryland.
Cheniere Mulls Third Liquefaction Train at Corpus Christi
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said it planned to make a final investment decision to build the third liquefaction train at its Corpus Christi LNG export facility in Texas in the first half of 2018:Cheniere said on Friday its Cheniere Corpus Christi Holdings LLC subsidiary engaged financial institutions to arrange up to $6.4 billion of credit facilities. The unit already has about $4.6 billion of existing credit facilities.Cheniere said it will use the credit facilities to fund a portion of the costs of developing…
ACP, Cheniere Focus on LNG's Potential
Representatives from the Panama Canal, led by Administrator Jorge L. Quijano, hosted executives from U.S. LNG exporter Cheniere Energy, Inc. to discuss the waterway’s growing LNG vessel segment and opportunities for future growth. With LNG emerging as its newest and fastest-growing segment, the Panama Canal has worked closely with shippers as part of an ongoing commitment toward strengthening overall communication and improving service and reliability for customers. “Our visit allowed a greater understanding of the complexities around the Panama Canal operations. We are very appreciative of the collaboration with the Panama Canal to facilitate our 62 transits in 2017…
Vessel Docks at Maryland Cove Point LNG Terminal
Gemmata could be the first vessel to pick up fuel from the facility since the tanker came from Spain - a non-LNG exporting country - with less than a full cargo, according to the shipping data. In addition to Gemmata, another vessel, the Methane Spirit, is also headed for Cove Point, according to the shipping data. Methane Spirit is located near Singapore and is expected to reach Cove Point around March 31. Once it enters service, Cove Point will be the second big LNG export terminal in the lower 48 U.S. Cove Point is designed to liquefy about 0.75 billion cubic feet per day (bcfd) of gas. One bcfd can power about 5 million homes. In December, Dominion said Royal Dutch Shell Plc would take the initial LNG cargoes from Cove Point.
First LNG Export Cargo Departs Cove Point LNG
The Gemmata liquefied natural gas tanker left Dominion Energy Inc's Cove Point LNG export facility in Maryland early Friday, likely carrying the first export cargo from the facility that was expected to enter service in March, according to Reuters shipping data and energy traders. Officials at Dominion were not immediately available for comment. When the Gemmata docked at Cove Point earlier this week, analysts said it would likely be the first vessel to pick up fuel from the facility since the tanker came from Spain - a non-LNG exporting country - with less than a full cargo. Dominion has spent about $4 billion to add export facilities at Cove Point, long an LNG import terminal on the Chesapeake Bay.
First Cove Point LNG Lifting Departs Maryland
The first contractual liquefied natural gas (LNG) cargo from Dominion Energy Inc's newly constructed Cove Point LNG export plant in Maryland in the United States left the facility on Monday, Thomson Reuters Eikon ship tracking data showed. The cargo is expected to act as a drag on spot LNG prices <LNG-AS> as it coincides with the resumption of exports of the fuel from the Papua New Guinea LNG plant, which had been shut following a powerful earthquake. The 160,000-cubic metre LNG tanker Adam LNG left Cove Point on Monday with a draft of 91 percent, suggesting it was full, according to the data. Its destination was not immediately clear. The facility has exported two commissioning or test cargoes already, which were sold to Royal Dutch Shell.