South Korea's POSCO Launches Takeover Bid for Australia's Senex Energy
Australian coal seam gas producer Senex Energy Ltd said it had received a $605 million takeover proposal from POSCO International Corp and was opening up its books to the South Korean trader with the aim of gaining a sweeter offer.The A$815 million or A$4.40 per share offer from POSCO International, the trading arm of steel giant POSCO, has already been twice-improved…
Victoria Mulls Floating LNG Plan
Australia's Victoria state is working with AGL Energy to study building a liquefied natural gas (LNG) import terminal to beef up local gas supply, even as the country is set to become the world's largest LNG exporter. Victorian Premier Daniel Andrews is under pressure to bolster regional gas supplies after barring all onshore gas drilling…
LNG's Seasonal Price Gains may be Short-lived
It's around about now that liquefied natural gas (LNG) spot prices usually start rising in Asia ahead of winter demand, and this year looks set to hold to the pattern, although any relief for producers is likely to be short-lived. While the LNG market is heading for structural oversupply next year, and for several years thereafter, there are several short-term factors that have been supporting prices…
Australia's Gladstone LNG Plant to Take Unit Offline for Maintenance
Australia's Gladstone liquefied natural gas (LNG) export plant will take one of its production lines out of service for planned maintenance for several weeks in October, industry sources said. The Santos-operated plant will take one of its two production facilities, known as trains, off for maintenance from early October to about Oct. 23, they said.
Global LNG Prices Firm on Short-term Supply
Asian liquefied natural gas (LNG) prices for December delivery rose this week, buoyed by a short-term tightness in supply, though an imminent wave of new projects is expected to put prices under pressure in the new year. The price of Asian spot cargoes for December delivery rose to $7.70 per million British thermal units (mmBtu), from around $7.50/mmBtu last week.
Shell-BG deal May Shake up Rival's Australian LNG Plans
Tightening gas supplies in eastern Australia and a battle for gas to supply three liquefied natural gas plants will figure largely in watchdogs' review of Royal Dutch Shell's $70 billion takeover of BG Group. The deal may help break a deadlock over coal seam gas owned by Shell's Arrow Energy in Australia, which has been stuck in the ground…
