Stolt-Nielsen LNG, Golar LNG and Höegh LNG in Joint $182 Million Investment
Stolt-Nielsen Limited (Oslo Børs: SNI), Golar LNG Ltd and Höegh LNG Holdings Ltd. announced a combined investment commitment of $182 million in Avenir LNG Ltd. to pursue opportunities to deliver LNG to areas of stranded demand, as well as the development of LNG bunkering capabilities.The investment will be contributed as cash and equity-in-kind and will fund the construction of six small-scale LNG carriers, a small-scale storage terminal and regasification facilities.Avenir LNG was formed by Stolt-Nielsen in 2017 to provide LNG to markets lacking access to natural gas pipelines.
BSEE Director Bromwich Addresses IADC Conference
Bureau of Safety and Environmental Enforcement (BSEE) Director Michael R. Bromwich delivered remarks today during the International Association of Drilling Contractors’ Drilling and Production Keynote Breakfast here. Director Bromwich discussed ongoing regulatory reform efforts and highlighted plans to strengthen the bureau’s enforcement tools and processes. Good morning. Thank you for the opportunity to be here with you today to discuss issues of mutual interest and concern. It is great to be back in Austin and to be back at the Barton Creek Resort. History has an odd way of repeating itself, and our lives present us with strange coincidences The first time I came to Barton Creek was almost exactly ten years ago.
Petrobras Stops Platform Output After Gas Leak
Brazil state-run oil company Petroleo Brasileiro SA stopped production on Sunday from its P-40 platform in the offshore Marlim Sul field after a gas leak on the vessel, an oil workers' union said on its website on Monday, citing worker reports. The P-40, a semi-submersible production platform, was producing about 45,915 barrels (7,300 cubic meters) of oil and 800,000 cubic meters of natural gas a day when it was shut down, the union said. The P-40 is at the hub of a network of five platforms in Marlim Sul and at the center of oil and gas pipelines that interlink undersea natural gas pipelines into a single export line to the coast. It is also interlinked to a pipeline system that exports oil from the neighboring Marlim field.
Petrobras to Develop Natural Gas Field
Petrobras is investing $1.1B in 2003 to improve its natural gas pipelines and distribution networks, especially in Brazil's more industrialized Southeast and the less developed Northeastern region. The company is also planning to integrate its networks so that gas from the more productive Southeast can be transported to more isolated areas of the country.
Shell Sells Elba Liquefaction Project Interest to Kinder Morgan
Kinder Morgan Inc. will buy out Royal Dutch Shell PLC’s interest in their proposed Elba Liquefaction Co. (ELC ) joint venture in Georgia. Houston-based Kinder Morgan already owns 51% of the ELC joint venture. The firm said it would buy the 49 percent stake that it does not already own in the natural gas joint venture and it raised its dividend. ELC owns the Elba Liquefaction Project, which is proposed to be constructed and operated at the existing Elba Island LNG Terminal near Savannah, Georgia.
US Senate Energy Panel Votes to Lift Oil Export Ban
The U.S. Senate Energy Committee on Thursday passed a bill that would lift a decades-old ban on the export of crude oil. The 22-member panel passed the bill to allow the United States to export oil and boost state revenue-sharing for offshore oil and gas drilling by a vote of 12-10. Senate Energy Committee chair Lisa Murkowski, a Republican senator from Alaska, has been a long-time advocate for lifting the ban, which she said was outdated due to the rise of the United States as an energy power. In addition to unlocking crude oil exports, the bill would also speed up exports of liquefied natural gas and ensure that states that have offshore oil and gas development get their share of federal revenues. The bill will move to the Senate floor for wider debate later this summer.
CNPC, Cheniere Pact for LNG
China’s state-owned oil company, China National Petroleum Corporation (CNPC), and U.S. independent energy company Cheniere Energy have signed a Memorandum of Understanding (MoU) for long-term sales and purchases of liquefied natural gas (LNG), Reuters reported. The report quoted U.S. State Department saying that the deal between the two companies was signed during president Trump’s first state visit to China. Neither companies disclosed details of the transaction. According to CNPC…
Port Corpus Christi to benefit from LNG partnership with China
Port Corpus Christi officials are confident that the agreement signed between Cheniere Energy of Houston and China National Petroleum Corporation (CNPC) will bring increased traffic to the port, according to the San Antonio Business Journal. Officials from Cheniere accompanies President Trump on his tour to China and signed a Memorandum of Understanding with the Chinese company. CNPC is the largest gas and oil supplier and producer in China and is also one of the largest providers of oilfied services.
Green Light for Offshore LNG
Stuck at the wrong end of North America's natural gas pipelines, Massachusetts has relied on boatloads of liquefied natural gas to supplement pipeline gas for more than 30 years. The need for LNG has spiked in recent years as power producers have turned to this fuel for the region's newest -- and cleanest -- fossil fuel electricity plants. The safest terminals for unloading LNG are offshore, far away from residential neighborhoods, so it is reassuring to see that plans for two such ports are moving ahead. Both would be 8 miles or more from the coast, southeast of Gloucester. The owner of one would be Excelerate Energy of Texas, which for more than a year has been operating an offshore LNG port in the Gulf of Mexico.
Mars Platform Surpasses Pre-Katrina Production Levels
It took patience, ingenuity and untold millions of dollars to heal the wounds Hurricane Katrina inflicted on Royal Dutch Shell's Mars platform, the most prolific oil-producing platform in the Gulf of Mexico. But nearly a year and a half after the storm pummeled the 36,500-ton structure with 175-mph winds and 80-foot waves that left dead fish and crumpled steel on its decks, the platform has surpassed its pre-Katrina oil production levels. The biggest step left to restore Mars to its pre-Katrina strength is the return of its drilling rig. Due in April, it will have a new 250-foot derrick atop a repaired 1,000-ton substructure that the storm ripped from its clamps and then slammed back onto the platform. And how.
Severe U.S. winter leaves questions for gas, power markets
Natural gas pipelines and power utilities across the United States struggled for several weeks to keep lights on and homes warm through the coldest winter in decades, but it may take many months for the cost and the fallout of the so-called "polar vortex" to work through the energy chain. As sub-freezing temperatures spread in January and February, spot natural gas prices spiked at many gas delivery points in the Midwest, Northeast and New York, pushing wholesale power prices above $100 per megawatt-hour for days at a time. Customers will soon receive gas and electric bills, reflecting the higher cost of gas in January. In unregulated power markets, January bills will present a "double whammy," said Nick Akins, chief executive of American Electric Power Co, one of the largest U.S.
Nord Stream Shares Baltic Sea Database
At the Baltic Sea Action Summit in Helsinki on Feb. 10, Nord Stream took a further concrete step in line with its firm commitment to preserve the Baltic Sea. Nord Stream decided to establish a new Data and Information Fund to utilize its extensive knowledge and survey data for further research and preservation of the Baltic Sea. "The Baltic Sea is the home of our project. Therefore, we want to actively participate in its improvement as part of our Baltic Sea co-operation. The Baltic Sea Action Summit is a unique opportunity, bringing together various parties and investments made for the common good," said Matthias Warnig, Managing Director Nord Stream AG. The objective of the Fund is to increase existing knowledge regarding the state of the Baltic Sea and its preservation.