BP Issues Force Majeure Notice for Golar FLNG Unit
Golar LNG Ltd said on Tuesday that it received a force majeure notice from a BP Plc unit seeking to delay taking delivery of a floating liquefied natural gas facility by a year.The notice is the latest force majeure claim issued in the LNG sector that is struggling with a seasonal plunge in demand as well as the spread of the coronavirus outbreak, which has further hammered the consumption of the super-chilled fuel globally.BP is expecting a one-year delay due to the pandemic and currently sees no possibility in reducing the duration of the new timing…
Petronas Completes 3rd LNG Break Bulking STS Transfer
Petronas LNG Ltd (PLL), a subsidiary of Petroliam Nasional Bhd (Petronas), has completed its second liquefied natural gas (LNG) cargo through its break bulking ship-to-ship (STS) transfer to two buyers.The LNG break-bulking STS transfer took place in Brunei Bay, Sabah, Malaysia. It is the first for Petronas in expanding its customer base by providing solutions to two buyers, said the national oil and gas company.According to a report in Bernama, the delivering vessel…
KOMIPO, Petronas Ink LNG MoU
Korea Midland Power (KOMIPO) has signed a memorandum of understanding (MOU) on business development and cooperation in the fields of liquefied natural gas (LNG) and renewable energy with global energy company Petronas of Malaysia, the state-run power company saidThe MoU was signed on 18 September 2019 in Houston, Texas. Signing on behalf of Petronas LNG Ltd (PLL) was its Chairman, Ahmad Adly Alias while KOMIPO was represented by Park Hyung Koo, President and CEO.
Tellurian to Decide on Louisiana Driftwood LNG Project in 2019
Tellurian Inc confirmed on Wednesday it still plans to make a final investment decision to build its proposed $30 billion Driftwood liquefied natural gas (LNG) export project in Louisiana in 2019:* The company, in a first-quarter earnings statement, said it was on track to make a final investment decision in 2019, start construction in 2019 and begin operations in 2023.* Driftwood is designed to produce 27.6 million tonnes per annum (MTPA) of LNG or about 4 billion cubic feet per day (bcfd) of natural gas. One billion cubic feet of gas is enough to fuel about 5 million U.S.
LNG Meets IMO Goals: SEA\LNG
The consortium promoting the commercial case for liquefied natural gas (LNG), SEA\LNG, believes LNG is a viable pathway to meet the International Maritime Organisation (IMO)’s 2050 Greenhouse Gas (GHG) targets.The maritime industry really has two broad but major environmental initiatives related to air emissions; dramatic improvement of global air quality, and reduction of GHGs, said a release from the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel.Reinforcing the case for LNG as a marine fuel…
Singapore MPA, Société Générale Join LNG Advocacy Group
The liquefied natural gas (LNG) advocacy group SEA\LNG has announced the appointment of Paul Taylor representing Société Générale and Capt M. Segar representing MPA (The Maritime and Port Authority) of Singapore as Directors of SEA\LNG Ltd.Following elections last December, Tahir Faruqui and Xavier Pfeuty also join the SEA\LNG Board as new directors representing Shell and Total Marine Fuels respectively.Welcoming them to the Board, reappointed Chairman Peter Keller said: “2018 was an exciting year for the LNG industry and our coalition.
Petronas, Vitol Asia Pact for LNG Supply Deal
Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) through its subsidiary, Petronas LNG Ltd (PLL) and Vitol Asia Pte Ltd (Vitol) announced the signing of binding Heads of Agreement (HOA) for long-term liquefied natural gas (LNG) sale and purchase (SPA) agreement.Under the terms of the agreement signed on 1 October 2018, the LNG supply to Vitol commencing in 2024 will be approximately up to 0.8 million tonnes per annum for a period of up to 15 years on both Delivered Ex-Ship (DES) and Free on Board (FOB) basis…
China LNG Growth Not Slowing -Woodside
China's appetite for liquefied natural gas (LNG) has not slowed, but its purchases have been spread more evenly, avoiding last year's sudden spike to meet winter demand, Australia's top independent LNG producer said on Tuesday.LNG demand from North Asia's main hubs in Japan, China and South Korea has slowed in recent weeks, raising concern that forecasts for a milder than usual winter may dent consumption. There are also signs that the ongoing Sino-American trade war is starting to dent industry in China."We're not seeing a slowdown…
Next-wave LNG Race Hits Hurdles in US-China Trade War
The delay of a U.S. Gulf Coast liquefied natural gas (LNG) export project has crystallized fears that the U.S. trade battle with China is hampering efforts to line up buyers needed to move ahead with multi-billion-dollar builds.The United States is positioning itself as the dominant provider of the supercooled fuel as Asian nations shift away from dirtier power sources like coal, and this month's approval of a giant Canadian project led by Royal Dutch Shell bolstered enthusiasm for the sector overall in North America.That optimism took a hit on Monday…
India's Petronet LNG says Talks to Invest in Qatar Have Slowed
India's Petronet LNG Ltd said on Monday its talks to invest in Qatar's exploration and production sector had "slowed down," as the company had not been able to reach an agreement on pricing with the Middle Eastern nation."Qatar is still at a very preliminary stage. We were actually looking at getting the molecule (gas) at the well head price. They want to sell it at market price," said Prabhat Singh, managing director of Petronet LNG.Petronet LNG, India's biggest liquefied natural gas (LNG) importer…
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.
Next-wave LNG Terminals get Smaller, More Flexible
The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector's next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter, more flexible contracts. LNG export terminals, where the gas is liquefied and put on vessels for shipping, have traditionally been massive, custom-built facilities that cost tens of billions of dollars. And so to justify the investment…
Pakistan LNG Passes on Trafigura, Gunvor Cargo Deliveries
Pakistan LNG Ltd has decided against awarding in a tender three liquefied natural gas (LNG) cargoes due to be delivered by trading house Trafigura and Gunvor between December and January, trade sources said. In a tender seeking four December shipments, Trafigura submitted the lowest bid for the Dec. 1-2 delivery slot, according to a bid evaluation report published by Pakistan LNG. Gunvor and B.B. Energy submitted the lowest bids to supply the remaining three cargoes for the month.
SCI Led JV Takes Delivery of LNG Carrier “PRACHI"
A Joint Venture comprising The Shipping Corporation of India Ltd. (SCI), Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and Petronet LNG Ltd (PLL), have taken delivery of a new build Liquefied Natural Gas (LNG) carrier MT “PRACHI” having a capacity of 173,000 m3, from Hyundai Heavy Industries Co. Ltd. South Korea on 30th November, 2016. Simultaneously, the vessel has been delivered to Petronet LNG Ltd, New Delhi India’s first importer of LNG on a 19 year charter.
Ophir inks JV with Schlumberger for Equatorial Guinea project
British oil and gas explorer Ophir Energy Plc said it had signed an agreement with OneLNGSM, a joint venture between units of Golar LNG Ltd and Schlumberger, to develop the Fortuna project in Equatorial Guinea. Shares in the company rose as much as 13.8 percent, before trading at 77.75 pence at 0956 GMT on the London Stock Exchange on Thursday. Ophir said earlier this month that it could go forward without new partners for the Fortuna floating liquefied natural gas project as the cost estimates had halved to around $450 million.
Canada's First LNG Export Terminal Seen as One-off
Woodfibre LNG, Canada's first liquefied natural gas export project, will be a "nice-to-have" fillip for the country's gas producers but does not signal the start of a west coast LNG boom, industry watchers said on Monday. Privately held Woodfibre LNG Ltd said on Friday it will start building its C$1.6 billion ($1.2 billion) project in Squamish, British Columbia, next year after its Singaporean parent company authorized the funds last week. It is the first of more than a dozen LNG projects proposed for British Columbia to get the final go-ahead…
LNG Price Gains Face Ceiling as New Supply Emerges
Asian spot liquefied natural gas (LNG) prices rose this week on the back of rallying gas benchmarks in Europe and a production outage in Angola. The price of LNG for December delivery was $7.20 per million British thermal units (mmBtu), up around 25 cents from a week earlier, buoyed by gains in British month-ahead gas prices. UK December gas rose as much as 10 percent this week. Further LNG spot gains may be capped as prices close the gap with long-term, oil-indexed LNG contract levels and with new supply emerging from U.S.
Golar Brazil LNG Venture to Build Power Plant
GG Power, a joint venture between Britain's Golar LNG Ltd and Brazil's GenPower Participacoes SA, plans to start construction of its 1,500 megawatt natural-gas-fired power plant in November, in the Brazilian state of Sergipe, a local government official said. Site preparation and grading is already underway and physical construction of the $850 million plant and its floating offshore oil terminal is set to move in little more than a month, said Jose de Oliveira Junior, economic affairs adviser to the Sergipe-state government.
IOC Eyes GSPC's Stake in Mundra LNG terminal
Indian Oil Corp. Ltd (IOC) wants to buy debt-laden Gujarat State Petroleum Corp.’s (GSPC) entire stake in the in the under-construction Rs 4,500 crore ($672 million) GSPC-Adani liquefied natural gas (LNG) terminal in Mundra, Gujarat, reports Livemint. GSPC is looking to exit the 5 million tonnes a year LNG import terminal project, which is likely to be completed by mid-2017, says sources. GSPC LNG Ltd, a unit of GSPC, holds a 50% stake in the project with the Adani Group owning 25%; the remaining 25% has been earmarked to be sold to a strategic partner.
India Plans First LNG Facility in Haldia
The Haldia Dock Complex under Kolkata Port Trust has recently earmarked about 10 acres of land in the vicinity of Haldia Oil Jetty No. 1 for a period of 30 years for setting up of LNG storage facilities, with permission to lay pipelines and install unloading arms through tender cum auction. The project will be undertaken on land lease model by granting lease of land by middle of December, 2016. LNG facilities are expected to be developed within 24 months from date of allotment of land.
