Cheniere Energy has brought its third liquefaction Train into service at the Sabine Pass LNG plant in Louisiana, while the fourth Train is ready for the commissioning process as the impact of LNG output on the US southeast natural gas market begins to take shape through 2018.
GLNG is a joint venture between Santos of Australia, PETRONAS of Malaysia, Total of France and KOGAS of South Korea. The joint venture extracts gas from coal seams in the Surat and Bowen basins of Queensland which is transported by high pressure pipeline to Curtis Island, off the coast from Gladstone, for conversion to LNG.
Over the next two decades, as more countries have existing infrastructure in the form of onshore import terminals or floating storage and regasification units (FSRUs), liquefied natural gas will increasingly be used when there are shortages in domestic energy supply.
The American Bureau of Shipping, a leading provider of classification services to the marine and offshore industries, has updated its guidance on LNG bunkering in North America to support the transport sector’s increasingly rapid transition to the use of cleaner fuels.
Liquefied natural gas membrane containment systems from France-based Gaztransport & Technigaz, known as GTT, have been employed in more than 300 in-service LNG carriers.
Oversupply best describes the current LNG market. 15 new-build but uncontracted vessels are scheduled to come on-stream between now and 2019 and approximately more than 30 ships will end their current charter contracts during this period.
Liquefied natural gas is being used as start-up fuel for a US coal-fired power plant in West Virginia, opening the way for more demand for small-scale LNG equipment in the form of storage tanks and vaporizers as the US power industry also seeks to upgrade some plants to “clean coal”.
With liquefied natural gas becoming ever more popular as a clean fuel, there has been tremendous investments in the liquefaction and export plants as well as small-scale facilities around the world.
March 27 (LNGJ) - TechnipFMC, the global energy and LNG project engineer, was awarded a contract by Shell Offshore for the delivery, integration and installation of the subsea production system and subsea riser, jumper and flowline equipment for phase one of the Kaikias deepwater project in the Gulf of Mexico. “TechnipFMC has a proven track record of competitively designing subsea production systems and technologies that directly contribute to improved project economics,” said Hallvard Hasselknipe, President of Subsea Projects at TechnipFMC. Kaikias is located in the prolific Mars-Ursa basin about 210 kilometres from the Louisiana coast. The first phase of development includes three wells designed to produce natural gas and oil at peak rates of up to 40,000 barrels of oil equivalent per day.
Mar 27 (LNGJ) - The 266,000 cubic metres capacity Q-Max carrier “Rasheeda” will deliver the first April cargo to the UK. The vessel will unload the shipment from Qatargas on April 2 at the South Hook import terminal at Milford Haven in Wales, according to port authorities. The delivery comes at a time when benchmark UK National Balancing Point natural gas prices have dropped to their lowest of the year, the equivalent of $4.85 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $4.45 per MMBtu.
March 24 (LNGJ) - Royal Dutch Shell sold its oil and gas fields and infrastructure in the West African state of Gabon to the US Carlyle Group for $870 million in cash and assumed debt as it continued its divestment programme as part of stream-lining after acquiring LNG portfolio player BG. The purchaser will also make additional payments up to a maximum of $150M depending on production performance and commodity prices. The transaction consists of all of Shell’s oil and gas operations and five operated fields as well as the associated infrastructure of the onshore pipeline system. Andy Brown, Shell’s Upstream Director, said: “Shell is very proud of the strong legacy we have built in Gabon over the past 55 years. The decision to divest was not taken lightly, but it is consistent with Shell’s strategy to concentrate on our upstream footprint where we can be most competitive. Shell will continue to pursue opportunities in Sub-Saharan Africa.”
March 24 (LNGJ) - Vitol, the global commodities company and energy trader with LNG interests, returned solid earnings despite challenging market conditions. “Volumes continued to grow, both in crude and products and we now trade in excess of 7 million barrels per day,” said Ian Taylor, Chairman and Chief Executive. “Despite the increase in volumes, a lower average oil price over the course of 2016 caused turnover to fall to $152 billion. We maintain our long-held strategy of conservatively managing capital and risks and will continue to build the business on these grounds, whilst remaining mindful of both counterparty and credit risks,” added Taylor.
March 24 (LNGJ) - China National Offshore Oil Corp., the state-owned energy company and LNG importer, posted its worst annual earnings since at least 2011, with revenue from its oil and gas business falling 17 percent in 2016 to 121.3 billion yuan ($17.6Bln). Annual net profit was put at 637 million yuan ($92.4M), down more than 95 percent from the profit recorded in 2015 because of low oil prices. “In 2016, the company maintained a strong cost competitiveness despite low oil prices and sluggish global economic growth,” said Yang Hua, Chairman and Chief Executive. “The company unrelentingly pursued a management concept centred on cost control and improved efficiency and will continue to adhere to a value-driven approach,” added Yang.
March 23 (LNGJ) - Italian energy company Eni said it obtained majority stakes in two new exploration blocks offshore the Ivory Coast in West Africa. Eni has the highest success rate in exploration by energy majors for countries on the continent in the last several years, making big natural gas discoveries for LNG in Mozambique and pipeline gas in Egypt. The two blocks are located about 50 kilometres offshore the Ivory Coast. The two deep offshore blocks, denominated CI-101 and CI-205, are in the eastern part of the prolific Tano basin, where Eni already operates and cover a total area of about 2,850 square kilometres. Block CI-101 is at depths of between 200 metres and 2,500 metres and located in waters south of the capital Abidjan.
March 23 (LNGJ) - The Intercontinental Exchange (ICE) will launch the first US LNG futures contract in May 2017. In an exchange note to customers, ICE said it planned to list the new contract on May 4, subject to completion of necessary regulatory processes. The LNG contract will be settled against the assessments made by US pricing firm Platts. Among the advantages, LNG futures contracts will enable market participants to hedge their positions
March 22 (LNGJ) - GTT, the French maritime LNG storage technology company, said it received an order from Hyundai Heavy Industries to equip a new LNG carrier with its Mark III Flex containment system. The Hyundai's shipyard based in Ulsan, South Korea, will build the vessel of 180,000 cubic metres capacity on behalf of Norwegian shipping company Norspan LNG (Knutsen). Delivery is scheduled in 2019. “Knutsen is a long-standing owner of LNG carriers equipped with membrane technology. With 10 vessels of this type, Knutsen is renewing its confidence in GTT technology by choosing Mark III Flex for this new vessel,” GTT said.
March 22 (LNGJ) - The 210,100 cubic meters capacity Q-Flex vessel “Duhail” is scheduled to unload a Qatari cargo on March 23 at the Pakistani Port Qasim import facility, located east of Karachi, according to shipping data. The 135,000 cubic metres capacity “Hyundai Oceanpia” will unload a shipment from Oman on March 26 at the South Korean Pyeongtaek import facility, operated by Korea Gas Corp. The 148,300 cubic metres capacity carrier “LNG Imo” will deliver a cargo on March 31 to the Indian Dahej terminal, operated by Petronet, from the Bonny Island plant in Nigeria.
March 22 (LNGJ) - The 266,000 cubic metres capacity Q-Max vessel “Al Mafyar” is scheduled to deliver a cargo on March 27 to the UK South Hook terminal at Milford Haven in Wales from Ras Laffan in Qatar, port authorities said. The deliveries of LNG to Europe’s largest natural gas market come at a time when prices have fallen to their lowest levels of 2017. The UK National Balancing Point price was last at the equivalent of $5.05 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $5.10 per MMBtu.
March 22 (LNGJ) - Marathon Oil Corp., whose energy interests include the Equatorial Guinea LNG production plant in West Africa as well as widespread US interests, has signed a definitive agreement to acquire 21,000 net acres largely in the Permian's Northern Delaware basin of New Mexico from Black Mountain Oil & Gas and other private sellers for $700 million in cash. “The 21,000 acre bolt-on in the Northern Delaware is an excellent fit with the basin entry acquisition we announced earlier this month,” said Marathon President and Chief Executive Lee Tillman. “The combined deals provide us more than 90,000 acres in the Permian, over 70,000 of which is concentrated in the Northern Delaware,” added Tillman.
March 21 – Three LNG cargoes are being delivered from the Bonny Island export plant in Nigeria to European terminals, according to shipping data. The 177,000 cubic metres capacity “LNG Lagos II” is currently unloading a shipment at the Mugardos terminal at El Ferrol in northwest Spain. The 137,230 cubic metres capacity vessel “LNG Rivers” will unload a Nigerian cargo on March 23 at the Huelva terminal in southwest Spain. The third cargo is being shipped to France. The 148,471 cubic metres capacity vessel “LNG Kano” is scheduled to unload its shipment on March 26 at the Montoir-de-Bretagne terminal on the French Atlantic Coast.
March 21 (LNGJ) - TechnipFMC, the energy and LNG project engineering company, was awarded a contract by a venture comprising Eni of Italy, Ghana National Petroleum Coro. and commodities company Vitol for the onshore part of the development of the Sankofa natural gas field. Under this contract, TechnipFMC will perform the project management, engineering, supply, construction and commissioning for the Onshore Receiving Facilities to be located in Sanzule as part of a gas-to-power venture. The contract will be mainly executed by a team of TechnipFMC staff in Ghana. The project is scheduled for completion by mid-2018. “We are proud to have been awarded this new contract, which rewards TechnipFMC’s long-term commitment in Africa and plays a strategic role in the gas-to-power program in Ghana,” said Nello Uccelletti, President of TechnipFMC’s Onshore-Offshore business.
March 20 (LNGJ) - Sacgasco, the Australia-listed natural gas exploration and production company, said it had significantly strengthened its position in the US Sacramento Basin through the acquisition of five new operated gas wells from various private Californian firms. The assets also include all associated leases, production facilities, meter stations and pipelines at two gas fields. The assets are in the Rancho-Capay field, adjacent to existing Sacgaso production, and the East Rice Creek field. “Current gross production from just two wells in the latest acquisition amount to 120 mcf per day. In total Sacgasco now has a portfolio of 25 wells in the Sacramento Basin with 10 in production and a further 15 that have the potential to be brought back into production,” the company said.
March 20 (LNGJ) - GasLog, the Monaco-based LNG fleet owner and operator with Royal Dutch Shell as a major charterer of its vessels, is selling $250 million of senior notes, a form of bonds, in a public offering. “The notes will mature in 2022 and will bear interest at a rate of 8.875 percent per annum, payable quarterly in arrears on March 30, June 30, September 30 and December 30 of each year, beginning on June 30, 2017,” said GasLog.
March 17 (LNGJ) - The 145,000 cubic metres capacity vessel “Milaha Qatar” is scheduled to deliver a cargo on March 20 to the Belgian import terminal at Zeebrugge. The shipment was lifted at the Ras Laffan plant operated by Qatargas. The 174,000 cubic metres capacity “Maran Gas Pericles” was unloading a US shipment on March 17 at the Chinese Tianjin import facility, operated by China National Offshore Oil Corp. The cargo had been lifted on February 17 at the Sabine Pass plant in Louisiana, operated by Cheniere Energy.
March 16 (LNGJ) - The 140,000 cubic metres capacity carrier “Arctic Voyager” is scheduled to deliver a cargo on March 19 to the Revithoussa import terminal in Greece from the Hammerfest plant in Norway operated by Statoil. The 155,000 cubic metres capacity vessel “Gaslog Sydney” is scheduled to unload a shipment on April 4 at the import terminal at Map Ta Phut in Thailand. The Thai cargo was lifted from the Equatorial Guinea plant on Bioko Island in West Africa, operated by Marathon Oil.
March 15 (LNGJ) - The 261,700 cubic metres capacity Q-Max carrier “Lijmiliya” is scheduled to deliver a cargo on March 21 to the UK South Hook terminal at Milford Haven in Wales from Ras Laffan in Qatar, port authorities said. . The deliveries of LNG to Europe’s largest natural gas market come at a time when prices have fallen to their lowest levels of 2017. The UK National Balancing Point price was last at the equivalent of $5.05 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $5.10 per MMBtu.
March 14 (LNGJ) - Qatargas has concluded a side deal alongside an existing sales agreement with Polish Oil and Gas Co. Under the additional accord, Qatargas will increase the volume of LNG currently supplied to Poland to 2 million tonnes per annum. The new agreement will come into effect in January 2018 and will run until June 2034. The LNG will be supplied from the Qatargas Train 3, a joint venture between Qatar Petroleum, ConocoPhillips, and Mitsui & Co. of Japan. The cargoes will be delivered on board Q-Flex LNG vessels to the Swinoujscie import terminal on the Baltic coast of Poland. “We are very pleased that we have signed this agreement, which marks another milestone for us in Qatar as we continue to meet the requirements of our customers worldwide,” said Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive.
March 14 (LNGJ) - Chiyoda Corp. of Japan, one of the world’s leading LNG engineering and construction companies, has overhauled its senior management after the losses and poor performance prompted by its Emas Chiyoda subsea business acquisition. Senior Executive Vice President Masaji Santo has been named as President and Chief Executive and Katsuo Nagasaka, who is currently a director and Senior Vice President, has been named executive Chairman. Senior Vice President Hirotsugu Hayashi has been appointed as the new Chief Financial Officer. Chiyoda, based in Yokohama, said nominees would be subject to final confirmation in their posts at the annual general meeting of shareholders at the end of June.
March 14 (LNGJ) - Planet Gas Ltd, the Australian exploration and production company, said it had started drilling of the Silver Star-1 gas well in the Cooper Basin of South Australia. “Silver Star-1 is a high impact exploration well and will target basin-centred gas and stratigraphic gas in the Permian sandstones,” said Planet Gas. The company’s partners in the licence are LNG stakeholder Origin Energy and Senex Energy The Cooper Basin is Australia’s most mature conventional onshore gas and oil production region, though also has significant unconventional potential with an estimated 325 trillion cubic feet of shale gas in-place. “Depending on the properties of the reservoir successfully meeting certain criteria, a lateral section of up to 1,500 metres will then be drilled. Multi-stage fracture stimulation and testing of the well is expected to follow,” added Planet Gas.
March 13 (LNGJ) - The American Bureau of Shipping, the US classification society, has granted Approval in Principle for the Seatransporter-DF, a dual-fuel design concept developed by Algoship Designers Ltd. of Nassau in the Bahamas. The design has the capability to accommodate multiple engine types as well as Type-C or membrane containment systems for LNG fuel. “Technically innovative designs that advance the use of LNG as fuel will play an increasingly important role in the marine sector, and ABS is working alongside industry to enable this critical technological advancement,” said ABS Executive Vice President for Global Marine Kirsi Tikka.
March 10 (LNGJ) - The 145,400 cubic metres capacity carrier “Cygnus Passage” is scheduled to deliver a shipment to the Japanese Chiba import terminal on March 12 from the Sakhalin Island LNG export plant at Prigorodnoye on the Pacific coast of the Russian Far East, according to shipping data. The 147,500 cubic metres capacity vessel “LNG Ebisu” is scheduled to unload a shipment on March 15 at the Himeji terminal in Japan, operated by Kansai Electric, from Woodside Energy at Dampier in Western Australia. The 145,000 cubic metres capacity ship “Ejnan” will unload a cargo on March 16 at the Tai-Chung import terminal in Taiwan from the Qatargas plant at Ras Laffan. The 155,000 cubic metres capacity vessel “British Ruby”, owned by BP Shipping, is scheduled to deliver a cargo on March 27 to the Tong-Yeong import facility in South Korea from the Atlantic LNG plant in Trinidad.
March 9 (LNGJ) - French energy and utility company Engie plans to sell its 10 percent stake in the largest Indian LNG import company Petronet. The Engie stake is currently valued at $435 million. The Petronet LNG shares were purchased by the Engie predecessor company Gaz de France. The French company has informed the four Indian shareholders in Petronet that it was offering its stake for sale. The other shareholders are Gas Authority of India, Oil and Natural Gas Corp., Indian Oil Corp. and refining company Bharat Petroleum.
March 8 (LNGJ) - Texas monthly natural gas output was estimated at just over 639.6 billion cubic feet, a year-over-year decline of about 10 percent. With natural gas prices averaging $3.19 per thousand feet, the value of Texas-produced gas increased by about 29.7 percent to more than $2 billion, according to the Texas Petro Index. “The components of the Texas Petro Index continue to register mixed results as the transition from contraction to expansion plays out,” said Karr Ingham, creator of the TPI. “Crude oil and natural gas prices, the rig count, the number of drilling permits issued, and the value of oil and gas produced in Texas all registered increases, while oil and gas-well completions, the volume of oil and gas produced, and upstream employment continued to decline compared to a year ago,” he said.
March 7 (LNGJ) - Two LNG cargoes from Qatar are scheduled to arrive in the UK port of Milford Haven in Wales in the next week. The 266,000 cubic metres capacity Q-Max vessel “Aamira” will unload a shipment on March 13 at the South Hook terminal and a day later the 210,000 cubic metres capacity Q-Flex carrier “Al Nuaman” will deliver a cargo to the Dragon import facility at Milford Haven. The deliveries of LNG to Europe’s largest natural gas market come at a time when prices have fallen to their lowest in 2017. The UK National Balancing Point price was last at the equivalent of $5.25 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at $5.13 per MMBtu.
March 7 (LNGJ) - Japanese maritime classification society Nippon Kaiji Kyokai, known as ClassNK, named Toshiyuki Shigemi as Executive Director. The previous Executive Director, Yasushi Nakamura, has stepped down and has been appointed as an advisor to the society. Shigemi joined ClassNK in 1981. “After a career including roles in plan approval, he took up the position of General Manager of the Development Department in 2008, where he was responsible for overseeing ClassNK’s rule development activities for over a decade - at the time when class rules were undergoing major changes,” said ClassNK.
March 7 (LNGJ) - Austrian energy company OMV has paid German utility and energy player Uniper $1.85 billion to acquire its near 25 percent stake in the Russian Yuzhno-Russkoye natural gas field in Western Siberia. The Yuzhno-Russkoye gas field can produce up to 25 billion cubic metres per annum and is the key supplier to the Nord Stream pipeline which supplies Germany directly with Russian gas. The other shareholders in the field are Gazprom and German oil and gas company Wintershall.
March 6 (LNGJ) - Four LNG carriers were at anchorage in ballast at the Spanish port of Cadiz, according to shipping data. They are the 156,000 cubic metres capacity “Wilforce”, owned by Teekay LNG, the 153,000 cubic metres capacity “Gaslog Chelsea”, the 160,106 cubic metres capacity “Kita LNG” and the “Sonangol Benguela”, owned by Angola LNG.
March 6 (LNGJ) - Global commodities trader Vitol, increasingly active in the LNG market, has spent US$1.44 billion to purchase Turkish retail fuel company OMV Petrol Ofisi Holding from Austrian parent company OMV AG. Petrol Ofisi is the market leader in fuel products and distribution in Turkey with a market share of around 23 percent. Its business comprises the largest retail station network of over 1,700 service stations, the largest fuel storage and logistics business in Turkey with a total storage capacity in excess of 1 million cubic metres.
Ian Taylor, President and Chief Executive of Vitol, said: “This is a strong business in a growing market. Its market leading brand has benefitted from OMV’s focus on high standards of health and safety. We are committed to maintaining this excellent track record.”
March 3 (LNGJ) - Canadian federal Prime Minister Justin Trudeau whose energy policies revolve around the wholesale reduction of greenhouse-gas emissions and have sunk many LNG export projects and sent costs soaring, will deliver a keynote address at the CeraWeek 2017 energy conference organized by IHS Markit for March 6-10 at the Hilton Americas in Houston. Trudeau will participate in a special plenary dialogue with Daniel Yergin, vice chairman of IHS Markit and conference chair on Thursday, March 9. He will also receive the CeraWeek Global Energy and Environment Leadership Award “in recognition of his commitment to sustainability in energy and the environment.”
March 3 (LNGJ) - The 155,000 cubic metres capacity “Gaslog Saratoga” has just delivered a shipment for Gas Authority of India to the Dabhol terminal near Mumbai from the Bonny Island export plant in Nigeria, according to shipping data. The 170,000 cubic metres capacity “Methane Julia Louise” is unloading a cargo at the Dahej import facility, operated by Petronet north of Mumbai, from the Queensland Curtis plant in the Australian port of Gladstone. The 155,900 cubic metres capacity vessel “Maran Gas Mystras” has unloaded a cargo from Qatar at a floating import facility at the Egyptian port of Ain Sokhna in the Gulf of Suez. The 210,100 cubic metres capacity Q-Flex vessel “Al Saad” is unloading a cargo from Qatar at the Pakistani Port Qasim floating import facility, located east of Karachi. The 155,000 cubic metres capacity carrier “Solaris” has unloaded a shipment from Gladstone in Australia at the Ningbo import terminal in the eastern Chinese province of Zheijang, operated by China National Offshore Oil Corp.
March 2 (LNGJ) – The 266,000 cubic metres capacity Q-Max carrier “Al Bahiya” is unloading a cargo from Qatar at the Map Ta Phut import terminal in Thailand, according to shipping data. The 150,900 cubic metres capacity FSRU “Explorer”, owned by the Excelerate-Exmar joint venture, has docked at the Dubai Jebel Ali port in the United Arab Emirates. The 174,000 cubic metres capacity “Gaslog Greece” has departed from the Queensland Curtis LNG plant at the port of Gladstone and is scheduled to arrive on March 16 at the Chinese Dongguan terminal in the southeast province of Guangdong. The 147,200 cubic metres capacity “Arctic Princess” has left the Hammerfest plant in Northern Norway, operated by Statoil, to deliver a cargo on March 12 to the Aliaga terminal in Turkey.
March 1 (LNGJ) – The US state of California has no LNG projects and now several Australian exploration and production companies are targeting the state’s onshore natural gas. Sacgasco Ltd and Xstate Resources have agreed to assign part of their licence in California to a third Australian company, Bombora Natural Energy, for the Alvares conventional gas prospect located in the onshore Sacramento Basin. The Sacramento Basin field has estimated resources of 2.4 trillion cubic feet of natural gas. “The original 1982 well was drilled for oil and encountered high gas shows over a 1,500 metres interval of conventional reservoirs,” said Gary Jeffery, Managing Director of Sacgasco. “We welcome Bombora to the Alvares joint venture and appreciate the confidence this farm-out shows in Sacgasco’s interpreted potential of the under‐explored parts of the Sacramento Basin,” he added.
March 1 (LNGJ) - Steelhead LNG, the Canadian development company, has named Kerri L. Fox, the former head of the Spanish bank Banco Bilbao Vizcaya Argentaria’s project finance business in North America, as its chief financial advisor. “Kerri brings more than 20 years of experience in structuring and executing financings for energy and infrastructure projects in Canada, the United States and Latin America, including US Gulf Coast LNG projects,” said Steelhead Chief Executive Nigel Kuzemko. Her arrival is the latest significant addition to the executive team. In January, Paul Sullivan, former Global Director of LNG and Floating LNG at WorleyParsons, was named as Vice President of Steelhead projects and Gerry Peereboom, former head of Tangguh LNG for BP in Indonesia, became Vice President of Integration.
Feb 28 (LNGJ) - Dar Group, based in Dubai in the United Arab Emirates, said it had acquired a 13.35 percent stake in Australian infrastructure, energy and LNG engineering and consultancy company WorleyParsons Ltd. “Dar Group views WorleyParsons as the preeminent energy and design consultancy globally and respects the role the Chairman, Board and management team have played in establishing this market leading position. Dar has acquired the stake with a long-term strategic perspective and looks forward to being a supportive shareholder,” it said. “Dar Group has no present intention of initiating discussions with WorleyParsons regarding a change-of-control transaction,” it added. Dar operates a multi-branded strategy consisting of a global network of architecture and engineering consultancy firms.
Feb 28 (LNGJ) - The 145,700 cubic metres capacity “LNG Benue” is unloading a cargo on February 28 at the Indian Dahej import terminal, operated by Petronet, from the Bonny Island plant in Nigeria, according to shipping data. The 147,200 cubic metres capacity “Arctic Lady” is schedule to deliver a cargo on March 6 to the Fos Cavaou import terminal near Marseilles in the south of France from the Hammerfest export plant in northern Norway, operated by Statoil.
Feb 27 (LNGJ) - Gasunie Transport Services (GTS), the Dutch natural gas pipeline transmission operator, must cut its tariffs under the regulatory framework in the period 2017-2021. The cut follows a decision by the Netherlands Authority for Consumers and Markets. “As a result of the decision GTS tariffs will be lowered. Over the next five years the annual revenues will gradually fall by a total amount of 200 million euros ($211M). In addition, the decision will result in a one-off depreciation of the GTS network of 450M euros ($475M),” said Gasunie.
Feb 27 (LNGJ) – Western Australia, the main LNG-producing state in the country, is boosting its domestic supplies. AWE Ltd, operator of a production licence in the Western Australian onshore Perth Basin, has agreed a non-binding accord with AGL Wholesale Gas for the first gas sale from stage two of the Waitsia Gas Project. The deal is for 15 percent of nominal daily production capacity. Total capacity will be the equivalent of 95 million cubic feet per day, or 10 percent of the Western Australian domestic gas needs for 10 years. “AGL is one of Australia’s leading integrated energy companies and we are pleased to be able to contribute to their entry into the Western Australia market with the first gas sale from Waitsia stage two,” said David Biggs, Chief Executive of AWE.
Feb 27 (LNGJ) - The 266,000 cubic metres capacity Q-Max carrier “Mozah” is scheduled to deliver a shipment to the UK on March 5 from Qatargas, the second cargo of the month to be unloaded at the South Hook facility at Milford Haven in Wales. The 266,000 cubic metres capacity Q-Max vessel “Zarga” will deliver the first cargo on March 3 from the Ras Laffan export terminal in Qatar. The shipments will arrive as European natural gas prices drop from winter highs. The UK National Balancing Point price was last at the equivalent of $5.70 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at $5.15 per MMBtu.
Feb 24 (LNGJ) - The 155,000 cubic metres capacity carrier “Yenisei River”, operated by Dynagas, is scheduled to unload a cargo from Qatar on February 24 at the Zeebrugge import terminal in Belgium. The 160,400 cubic metres capacity vessel “Soyo” has just unloaded a cargo from Angola LNG in southwest Africa at the Aqaba import facility in the Kingdom of Jordan, according to shipping data.
Feb 24 (LNG) - The 266,000 cubic metres capacity Q-Max vessel “Zarga” will be the first to deliver a March LNG cargo to the UK. The South Hook regasification terminal in Milford Haven in Wales is one of the main gateways for European LNG imports and the cargo from Ras Laffan in Qatar will be unloaded on March 3, according to the port authorities. The shipment will arrive as European natural gas prices soften from winter highs. The UK National Balancing Point price was last at the equivalent of $5.90 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at $5.33 per MMBtu.
Feb 24 (LNGJ) - Marathon Oil, the US company whose assets include the Equatorial Guinea LNG export plant in West Africa and US shale interests in areas such as the Eagle Ford in Texas, named Dane Whitehead as its new Chief Financial Officer. Whitehead, aged 55, has most recently served as executive vice president and CFO of EP Energy Corp. He joined El Paso in 2006 and prior to that served as CFO of Burlington Resources Canada. “I look forward to working closely with Dane and expect him to play a key role in driving our strategy and creating long-term shareholder value,” said Lee Tillman, Marathon’s President and Chief Executive.
Feb 23 (LNGJ) - Toyo Engineering Group of Japan said its Indonesian subsidiary and a local company, PT Timas Suplindo, were awarded an engineering, procurement and construction contract for the Suban Compression Project by ConocoPhillips. The project is located in the Suban Field in South Sumatra in Indonesia. “The scope of work is to develop inlet compression facilities upstream of an existing plant by installing five gas turbine compressors, one gas turbine generator and the required auxiliary and supporting systems,” Toyo said.
Feb 22 (LNGJ) - The floating LNG import facility offshore the west coast of Italy, “FSRU Toscana”, has issued a tender for the regasification and storage bundled service for 2017-2018 amounting to natural gas capacity equivalent to 1.5 billion cubic metres. Bids must be submitted no later than March 6. The facility is moored about 22 kilometres off the coast between the cities of Livorno and Pisa. It is connected to the Italian national gas transmission network grid through a 36.5km pipeline from the shore to the mainland operated by Snam Rete Gas.
Feb 22 (LNGJ) - Petrofac, the London-based oil and gas services company with global operations, has delivered positive results for 2016, driven by record revenues, significant cost reduction and strong cash generation. “In a busy year, the Group has also demonstrated its track record for operational delivery with more than 240 million man-hours worked across the portfolio,” said Ayman Asfari, Petrofac Chief Executive. “Whilst the market remains competitive, bidding activity has increased in recent months. We have right-sized our business, have a good pipeline of opportunities across our core markets and remain cost competitive, as evidenced by recent bidding success,” the company said.
Feb 21 (LNGJ) - Woodside Petroleum, the operator of two LNG export plants in Western Australia, said Chairman Michael Chaney would step down after next year's annual general meeting to be replaced by Richard Goyder, Managing Director of Wesfarmers, Australia's biggest industrial group. Goyder will in the interim join Woodside's board as an independent, non-executive director. Woodside Chairman Michael Chaney, who joined the board in 2005 and became Chairman in 2007, said it was fitting that such a prominent Australian business leader should become the next Chairman. “Richard has demonstrated his focus on delivering value for shareholders and commitment to excellence throughout his extensive business career,” said Chaney.
Feb 21 (LNGJ) - Sevan Marine, the Norwegian engineering services company, reported fourth-quarter revenue from operations of $2.2 million as it continued to support two floating production, storage and offloading (FPSO) developments for the UK Continental Shelf, one cylindrical floating LNG project for a US major and delivered engineering support for the Goliat project in the Barents Sea. “The company is in a solid financial position, with a net cash position of $24.8M and an equity ratio of 60 percent,” Sevan said. It also received notification in January of TechnipFMC’s intention to exercise an option to buy Sevan’s 51 percent shareholding in Kanfa AS.
Feb 20 (LNGJ) - The 210,100 cubic metres capacity Q-Flex vessel “Al Ghariya” is scheduled to deliver a cargo from Qatar on February 21 to the French Fos Cavaou import terminal near the city of Marseilles, according to shipping data. The 145,000 cubic metres capacity carrier “Methane Heather Sally”, operated by GasLog, is unloading a cargo from Trinidad at the Quintero import terminal in Chile.
Feb 20 (LNGJ) - Tokyo Electric Power Co. and Chubu Electric, whose LNG procurement joint venture Jera Co. Inc. is the largest global buyer, are holding talks about integrating their thermal power generation businesses in fiscal 2018. Tepco and Chubu launched Jera for joint LNG procurement, though stopped short of amalgamating their thermal power assets because of concerns from Chubu that funds could be diverted to the clean-up of the disaster-hit Fukushima nuclear plant, owned by Tepco. However, Tepco recently compiled a draft business plan on the power businesses that convinced Chubu that no joint funds could be diverted.