New York Offshore Wind Power Auction Set for Big Turnout
Several offshore wind developers will likely bid in New York's fourth offshore wind solicitation by the Thursday deadline, including units of European energy firms Orsted, Equinor and BP.The development of the U.S. offshore wind industry took a major blow last year when companies working in several states said they could no longer complete projects profitably because of rocketing construction costs, higher interest rates and supply chain snags. The problems also hit the wind industry in other countries.The development of the industry is key to meeting both U.S. President Joe Biden and U.S.
New Jersey Approves Two Giant Offshore Wind Power Projects
New Jersey's utility regulator on Wednesday approved two offshore wind power projects with a combined capacity of 3,742-megawatts (MW) whose backers include Invenergy and TotalEnergies.The offshore wind industry is expected to play a major role in helping several states and U.S. President Joe Biden meet goals to decarbonize the power grid and combat climate change.But progress was slow last year after offshore developers canceled contracts to sell power in Massachusetts, Connecticut and New Jersey…
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…
EDF Offers Long-term LNG Regas Capacity at Dunkirk Terminal
Electricite de France (EDF) has offered up to three billion cubic metres of annual regasification capacity at the Dunkirk liquefied natural gas (LNG) import terminal for 18 years from Jan. 1, 2019, it said in a market notice. The terminal's remaining 10 bcm/year capacity has already been booked by shippers, EDF said. Long-term capacity is offered on a ship-or-pay basis. Subscribers will acquire firm rights to slots, LNG storage and send-out capacity, as well as the ability to re-load imported LNG for onward export.
Chinese Demand Ensures Asian LNG Rally Has Legs
Unexpectedly strong demand from China, along with rising oil and coal prices, should keep Asian liquefied natural gas (LNG) spot levels buoyant this winter. Despite rising supplies from new plants, spot prices have risen by 55 percent from their 2017 lows to $8.40 per million British thermal units (mmBtu) as Asian buyers also refilled summer stocks. With the peak demand October-March winter gas season almost underway, further price gains are expected. Nuclear outages in Taiwan and rising demand from Thailand…
Webb Institute Adds Assistant Professor of Marine Engineering
Webb Institute has appointed Benjamin H. Scott as the Assistant Professor of Marine Engineering. Scott is a design engineer with over 30 years of experience in thermal and hydraulic analysis, heat exchanger design, thermal performance testing and fluid system design. Scott recently retired from Exelon Corporation as the senior manager of design engineering at their Calvert Cliffs Nuclear Power Plant in Lusby, Md., where he oversaw a staff of 60 multidiscipline engineers responsible for all plant modifications and improvements…
Cheniere to Ship LNG Cargoes to France
Cheniere Energy agrees to send 24 cargoes of liquefied natural gas (LNG), or 89T BTUs, from its Sabine Pass Terminal in Louisiana in 2017 and 2018 to French state-controlled power utility Electricite de France (EDF), its second deal in two months to ship the fuel to France after EDF agreed to buy as many as 26 cargoes last month. Cheniere Marketing International LLP, wholly owned subsidiary of Cheniere Energy, has entered into another sales arrangement with EDF for the delivery of LNG cargoes on an ex-ship basis or "DES" from the Sabine Pass LNG terminal. Under the deal, the sales price of the shipments will be linked to the Title Transfer Facility (TTF) in the Netherlands, continental Europe's biggest and most liquid gas trading point.
BG's Singapore Move Seen Cutting Big UK Tax Bill
When BG Group Plc announced last week it was shifting the headquarters of its oil and liquefied natural gas (LNG) trading operation to Singapore from Britain, it said the aim was to get closer to its customers. Analysts and consultants agreed that the growing importance of Japanese and Korean utilities in the LNG market meant the move would have clear logistical and commercial benefits. But they also said another motivation was likely at play: tax. "Tax is always a factor," said Bob Piller, a Swiss-based energy trading consultant who previously worked for commodities giant Vitol.
EDF Will Win French Offshore Wind Projects: CEO
Electricite de France SA will win government contracts to build wind farms off the French coast, Chief Executive Officer Henri Proglio said during a press meeting in Paris, Bloomberg reports. The French government is scheduled to pick the winners of the off-shore wind farm contracts this week, Industry Minister Eric Besson said yesterday. France’s energy regulator recommended EDF, as well as Alstom SA and Denmark’s Dong Energy A/S to build four of the five planned offshore wind farms, Les Echos reported on March 31. EDF was very aggressive on the price, the newspaper said (Bloomberg).
