Pavilion Acquires LNG assets of Iberdrola
Singapore-based LNG company Pavilion Energy said its wholly owned subsidiary Pavilion Energy Trading & Supply has agreed to buy Spanish energy company Iberdrola's portfolio of liquefied natural gas (LNG) assets.The portfolio comprises about 4 million tonnes per annum (mtpa) of Iberdrola's long-term LNG sale and supply contracts.It also includes long-term regasification of approximately 2 mtpa at the Grain LNG terminal (UK), regasification access in Spain and the Spanish-France border pipeline capacity, as well as the time-charter of a newbuild MEGI LNG vessel. In a related transaction, both parties have concluded a gas sales agreement…
Indonesia Okays Empyrean Plan for Mako Gas
Indonesia has approved the development plan for the Mako gas field, Empyrean Energy PLC and Coro Energy PLC said.Indonesia’s Ministry of Energy and Mineral Resources (MEMR) has approved the plan of development (POD) for the Mako gas field at the Duyung production sharing contract (PSC), offshore Indonesia, said a joint statement.Mako is located on the Duyung production sharing contract, which covers 890 square kilometres offshore the Riau Islands province.Tom Kelly, CEO of Empyrean, said: "The POD approval by the Ministry of Energy and Mineral Resources in Indonesia is another important milestone in progressing the Mako Gas Field towards producon.
Energean Signs New Gas Sales Deal for Karish and Tanin FPSO
UK-based oil and gas exploration and production company Energean Oil & Gas has signed a Gas Sales and Purchase Agreement (GSPA) with I.P.M. Beer Tuvia Ltd. (IPM) to supply an estimated 5.5 BCM of gas from its Karish and Tanin FPSO over a period of 19 years.According to a release, the contract is subject to necessary approvals and is contingent on results of the 2019 drilling programme, which includes the drilling of four wells in Israel and commences with the spud of Karish North in March 2019, targeting 36.8 BCM (1.3 Tcf) of gas with a volume weighted geological chance of success of 69%.The agreement adds between 0.265 and 0.38 BCM/yr of gas sales, commencing in approximately 2024.
Engie to Buy Gas from Romania's Black Sea Oil & Gas
Romanian based independent oil and gas company Black Sea Oil & Gas together with its co-venture partners, Petro Ventures Resources and Gas Plus International, announced the signing of the Gas Sales Agreement with ENGIE through its subsidiary Engie Energy Management Romania for natural gas supply from the Midia Gas Development (MGD)Project .Under this agreement, which is subject to Final Investment Decision, ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum period of 10 years in compliance with Romanian law.Expected contractual volumes at project completion represent 0,5 bcm per year. The gas will be delivered…
Magnolia Inks deal with Meridian
Liquefied Natural Gas Ltd informed that its 100% owned project company, Magnolia LNG, LLC signed a legally binding agreement with Meridian LNG Holdings Corp for firm capacity rights for up to 2 million tonnes per annum (mtpa) at Magnolia LNG, located on the Calcasieu shipping channel in the Lake Charles District, State of Louisiana, USA. Under the liquefaction tolling agreement (LTA), Magnolia will provide liquefaction servicesto Meridian LNG over the term of the contract in return for monthly capacity payments. Meridian LNG is responsible for procurement and delivery of feed gas to the liquefaction plant and for arranging all LNG shipping required to transport the LNG from the liquefaction plant to its customers.
LNGL Extends Gladstone Lease
* LNGL has signed a non-binding memorandum of intent (MOI) for gas supply with Tri-Star Petroleum Company (Tri-Star). Liquefied Natural Gas Limited yesterday announced that its 100% owned subsidiary, Gladstone LNG Pty Ltd has agreed to a Variation to the Agreement for Lease with the Gladstone Ports Corporation until 31 March 2016 in two phases. The first phase is an extension of the term from 1 November 2014 to 31 March 2015, with the Company paying an Option Fee of $500,000 and the second phase, at the Company’s election, is a further extension to 31 March 2016, with the payment of a further Option Fee of $1 million. The company executed a non-binding MOI for a proposed gas sales agreement (GSA) with Tri-Star.
Statoil and Wintershall Sign Gas Supply Agreement
Statoil ASA (OSE: STL, NYSE: STO): Statoil and Wintershall have entered into a 10-year gas sales agreement for the delivery of a total of 45 billion cubic meters (bcm) to the German and other North-West European markets. "This strategic agreement demonstrates the continued competitiveness of Norwegian natural gas in the German energy mix. "The agreement with Statoil, a long-term and reliable energy partner with Germany for decades, is a significant milestone for Wintershall. For us this means that we can also use the volumes we produce from the North Sea in Europe in the future without having to expand our own infrastructure," says Wintershall's CEO Rainer Seele. Germany consumes about 80 bcm natural gas per year and is the second largest gas market in Europe.
Statoil Receives Contract
Statoil and British Gas Trading Ltd, a wholly owned subsidiary of Centrica, have signed a gas sales contract for supplies of five billion cubic metres of natural gas per year. Supplies will start on October 1, 2005 and run for 10 years. This is Statoil's largest sale since the Troll gas sales agreement in 1986 on the basis of annual volumes. The contract reinforces Statoil's position as the largest importer of gas to the UK. managing director of Statoil UK. increase the supply of gas to meet the UK's growing energy needs. supply. supplies of 1.6 bcm per year over fifteen years. "Statoil looks forward to cooperating with British Gas Trading. market, increases Statoil's commercial opportunities. market segment where we are not active. concludes Mr Bjørnson.
