Nigeria's NNPC sends LNG cargoes from Japan to China
NNPC, the state-owned Nigerian company that produces oil and gas, has increased its shipments of liquefied Natural Gas (LNG) to a Chinese port after its initial delivery to Japan in early June. Nigeria, Africa's top oil producer, has the largest gas reserves on the continent, with more than 200 trillion cubic foot. It has shipped the majority of its LNG via Nigeria LNG, a company in which NNPC holds a 49% share.
NLNG Okays Train 7
The Nigerian National Petroleum Corporation (NNPC), Shell, Total, and ENI on Friday signed the final investment decision (FID) to give the go-ahead for the construction of Train 7 of the Nigeria Liquefied Natural Gas (NLNG) project.The new train is expected to boost output by 35% to 30 million tonnes per year, NLNG said in a statement, and will arrest a decline in Nigeria’s LNG output. NLNG operates six LNG processing units, known as trains, on Bonny Island.
Nigeria LNG Inks FID for Train 7
Nigeria LNG (NLNG) signed a long-awaited final investment decision on its Train 7 processing unit in Abuja on Friday, taking a step forward in increasing its liquefied natural gas production.NNPC and partners Eni, Total and Shell attended the signing ceremony for Train 7, which is expected to boost Nigeria's LNG output by 35% to 30 million tonnes per year.The agreement is a bright spot for Nigeria, a nation rich in oil and gas that has been working for years…
SCD JV Win $10bln NLNG Train7
The Nigerian Liquefied Natural Gas Company (NLNG) signed a “letter of intent” with SCD JV as preferred bidder to construct the $10bn NLNG Train 7 project.SCD JV is a joint venture consortium comprising Saipem, Chiyoda and Daewoo."SCD JV is the preferred bidder for the contract for the Engineering, Procurement & Construction of the Nigeria LNG Train 7 Project after a competitive FEED contract," said NLNG.The…
Total Green-lights Ikike Oil Project in Nigeria
French oil group Total will approve plans to proceed with the Ikike project in Nigeria in the coming months, and also aims to expand its liquefied natural gas (LNG) project in the country, CEO Patrick Pouyanne said on Monday.Total is one of the strongest players in the African oil sector, holding more proven reserves on the continent than any of the other top global oil companies.The 60,000 barrels-per-day (bpd)…
Record LNG Capacity to Get Green Light in 2019
A record amount of liquefied natural gas (LNG) production is expected to get the green light in 2019 amid strong global demand, especially from China, analysts said.A final investment decision (FID) could be taken on more than 60 million tonnes per annum of LNG capacity this year, well above the previous record of about 45 million tonnes in 2005 and triple last year's 21 million tonnes, Wood Mackenzie's research director for global gas and LNG…
Nigeria senate to probe state oil firm over Nigeria LNG funds
Nigeria's Senate voted on Tuesday to probe the state oil firm's alleged withdrawal of $1.05 billion from gas company Nigeria LNG.The Premium Times newspaper reported on Monday that the Nigerian National Petroleum Corporation (NNPC) had used proceeds from Nigeria LNG - a venture between the state oil firm, Royal Dutch Shell, Total and ENI - to fund purchases of, and subsidies for, fuel during a shortage in early 2018.NNPC was not available for immediate comment.(Reporting by Camillus Eboh; writing by Paul Carst
GLOBAL LNG: Prices Dip as Supplies Emerge
Asian spot LNG prices dipped this week amid a salvo of export tenders and tepid demand from North Asia. Spot prices for August delivery <LNG-AS> edged down 5 cents to $5.45 per million British thermal units (mmBtu) from week-ago levels, three trading sources said on Friday. Deal activity in the Asia-Pacific remains muted, forcing the market to use a recent ExxonMobil export tender for an end-July loading cargo from the Gorgon LNG project as a price reference, traders said.
Douglas-Westwood: The Great Global Gas Surplus
The production of LNG in recent years has increased dramatically. According to Westwood Global Energy data, LNG liquefaction capacity increased from 121 million tons per annum (mmtpa) in 2000 to nearly 270 mmtpa in 2010, and will reach just over 400 mmtpa by the end of 2017. A wave of ‘mega-projects’, each costing tens of billions of dollars, have been completed in the Middle East and Australasia over this time.
Global LNG Prices Lose Ground on Weak Demand
Asian spot liquefied natural gas (LNG) prices extended losses for a third week, as weak demand gave little support, with more supply beginning to flow from the United States and Australia. LNG prices for April delivery in Asia eased to $4.50 per million British thermal units (mmBtu), down 30 cents from the previous week. Gail India's purchase tender for three cargoes spread across March and April closed with the April cargo fetching a price in the mid-$4 per mmBtu range, traders said.
LNG Prices sink on Argentina Tender, Supply
Asian liquefied natural gas (LNG) prices sank this week after Argentina's tender result soured hopes of a recovery amid poor demand, while fresh supply began pumping from Australia. The announcement that Cheniere's landmark U.S. export plant would delay production until March left the market unfazed, March prices tumbled to around $5.60 per million British thermal units (mmBtu), even as some sellers were heard offering at lower levels.
GLOBAL LNG: Prices Steady in Subdued Market
Asian liquefied natural gas (LNG) prices were steady this week amid limited trading activity. The price of Asian spot cargoes for February delivery was pegged at $6.90 per million British thermal units (mmBtu), in line with the previous week. Traders eyed developments in Nigeria where Eni has declared force majeure on loadings from the country's LNG export plant due to pipeline sabotage. All other suppliers continued to ship, although traders said the pace of loadings had slowed.
Shell Says Gas Supplies to Nigeria LNG Reduced Due to Oil Pipeline Issues
Shell on Friday said gas supplies to Nigeria's LNG export terminal on Bonny Island had been reduced due to the shutdown of a major oil pipeline in the country caused by a leak and theft. The reduction may impact liquefied natural gas exports from the facility. Shell's Nigerian unit, Shell Petroleum Development Company (SPDC), on Thursday declared force majeure on crude oil exports via two major pipelines, including the Trans Nigera Pipeline (TNP).
Asian LNG Spot Prices Firm
Asian liquefied natural gas (LNG) spot prices for September delivery were firm this week, supported by supply issues in Nigeria after a pipeline leak, though surplus global supplies helped ease concerns. The price of Asian spot cargoes held steady at around $8.00 per million British thermal units (mmBtu), from $7.95/mmBtu last week. Shell confirmed on Thursday that it had declared force majeure on gas supplies to Nigeria's LNG export terminal on Bonny Island in Rivers State due to a pipeline leak.
Shell Declares Force Majeure on Nigerian LNG
Shell declared force majeure on gas supplies to Nigeria's LNG export terminal on Bonny Island in Rivers State due to a pipeline leak, a spokesman for the company said on Thursday. "Shell declared force majeure on gas supplies from SPDC to NLNG (Nigeria Liquefied Natural Gas Co), effective August 4," spokesman Precious Okolobo said, adding that the company was still investigating the cause of the leak. SPDC is Shell's Nigerian joint venture with state oil company Nigerian National Petroleum Corp.
Nigeria LNG to Receive Four Ships in 2015
Nigeria Liquefied Natural Gas Company (NLNG) expects to take delivery of four LNG carrier ships before year-end and another two next year, its chief executive said, positioning the state-backed gas exporter to expand its share of the growing market. NLNG signed agreements with South Korea's Samsung Heavy Industries and Hyundai Heavy Industries in 2013 to acquire six LNG carrier ships, costing more than $1.2 billion, to boost its fleet of 23.
Global LNG Prices Pick Up
Asian liquefied natural gas (LNG) spot prices for August delivery rose on Friday as supplies tightened and traders manoeuvred cargoes between Atlantic and Pacific basins to cover short positions. End-user demand, however, remained muted. The price of Asian spot cargoes rose to $7.70 per million British thermal units (mmBtu), from $7.55 the previous week. Bids for August were in the high $7/mmBtu range while offer prices were at $8/mmBtu or above, three traders said.
Golar LNG Secures Charters for Carrier Duo
Golar LNG announced today that it has been awarded 2 time charters by Nigeria LNG Ltd ("NLNG") to employ the recently delivered Golar Frost and Golar Crystal. Employment of both vessels under these contracts will commence in January 2015 and will continue for a duration of approximately 12 months for each vessel. NLNG has elected to retire earlier than planned 3 of its smaller and less efficient LNG Carriers and to replace these with Golar's more modern and technically advanced ships…
Shell: Nigeria Oil Union Strike Not Affecting Exports
A strike by Nigeria's oil unions is not having any immediate impact on crude oil exports from Africa's top exporter, despite moving into a third day, spokesmen for leading operator Shell and Nigeria LNG said. Nigerian oil unions say the strike could affect exports if no agreement is reached with the government. The spokesman for NLNG, the gas exporter which is run jointly by Shell and the government, said he did not foresee any impact from the strike, which began on Tuesday.
Braemar Engineering in Tie-up with Nigeria LNG
Braemar Engineering announced that it has been appointed to act as Shipping Consultants to Bonny Gas Transport, the wholly owned subsidiary of Nigeria LNG (NLNG) responsible for the transport of NLNG’s output over the Atlantic to Europe and the Americas. Braemar Engineering will oversee the building of six LNG carriers, from design to delivery, with completion of the project anticipated at the end of 2016. Steel…
