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.
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…
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…
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.
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.
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.
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.
Cheniere's LA Sabine Pass LNG Output Dips
The volume of gas flowing into the facility dropped from about 3.2 billion cubic feet per day on Wednesday to 2.8 bcfd on Thursday and a projected 1.5 bcfd on Friday, Reuters data showed. One bcfd is enough gas to fuel about five million U.S. homes. The plant had been operating near full capacity with about 3.2 bcfd of gas flowing in since mid-January when freezing water during a brutal cold snap forced the company to briefly reduce operations. Officials at Cheniere would not comment on the latest reduction.
Cove Point LNG Terminal's First Export Imminent
Methane Spirit, a liquefied natural gas tanker, said on Thursday it would arrive at Dominion Energy Inc's Cove Point LNG export facility in Maryland around March 31, according to Reuters shipping data. If correct, that could be the first vessel to pick up a cargo from the LNG facility, which Virginia-based Dominion said it expects to enter service in March. Dominion said it planned to spend $4 billion to add export facilities at Cove Point, long an LNG import terminal on the Chesapeake Bay.
Cheniere Signs 15-year LNG Supply Pact with Trafigura
U.S. natural gas producer Cheniere Energy Inc said on Tuesday Singapore-based commodity trader Trafigura Pte Ltd would buy about 1 million tonnes of natural gas per year from its unit for 15 years, starting 2019. The agreement with Cheniere Marketing, LLC would help the Houston-based company to fund its expansion plans, Chief Executive Jack Fusco said. The company has been expanding its presence in Asia to benefit from the rising demand for liquefied natural gas from the region.
Dominion Energy Denies LNG Contract Renegotiations
Dominion Energy Inc said on Tuesday it had no plans to renegotiate any of its liquefied natural gas sales contracts, a day after India's oil minister said state-owned gas processor GAIL (India) Ltd was renegotiating deals with Dominion and another U.S. producer. "The characterization of contract renegotiations is false ... and Dominion Energy does not intend to renegotiate contract terms in the future," the company said in a statement. India's oil minister Dharmendra Pradhan told lawmakers on Monday that GAIL was renegotiating purchase contracts with Dominion Energy and Cheniere Energy Inc…
First Vessel Heads for MD's Cove Point LNG
The first liquefied natural gas vessel, the Maran Gas Delphi, was headed Thursday for Dominion Energy Inc's Cove Point LNG export facility in Maryland, a Reuters interactive map showed, with the facility expected to enter service by the end of the year. Cove Point will be the second large LNG export terminal in the lower 48 U.S. states, after Cheniere Energy Inc's Sabine Pass terminal in Louisiana, which exported its first cargo in February 2016. The Maran Gas Delphi, which is currently entering the Chesapeake Bay, is expected to arrive at the $4 billion terminal later Thursday.
Rising US LNG Exports Boost Interest in Natgas Futures
A surge in speculative interest in the U.S. liquefied natural gas (LNG) export boom has pushed open interest in natural gas futures to an all-time high, traders said on Thursday. Open interest, which measures the number of contracts outstanding, in the Henry Hub front-month hit 386,826 on the New York Mercantile Exchange on Wednesday, topping the previous high of 366,383 set in May 2016, according to Reuters data going back to 1990. "There has been a narrative around the market that the LNG exports are going to be the difference maker this winter…
Trump to Promote US Natgas Exports in Russia's Backyard
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months. Exports from the United States would help reduce their dependence on Russia. Trump will tell the group that Washington wants to help allies by making it as easy as possible for U.S.