In this issue

 

Woodside recorded a full-year net profit of US$973 million compared with US$113M the previous year ahead of the start-up of the Wheatstone LNG plant in Western Australia scheduled to take place soon and as it acquired assets offshore Senegal in West Africa. 

Our Asia-Pacific editor

Oil Search, a stakeholder in the Papua New Guinea LNG plant and the joint venture planning its expansion, saw its annual revenues plunge because of oil prices, though its medium-term outlook was boosted by the “substantial uplift” in the natural gas resources for additional LNG production in the Oceania nation. 

Australian energy and LNG engineering company Monadelphous Group said it will partner with Jacobs Engineering Group Inc. of the US for a five-year upstream contract in Papua New Guinea for Oil Search Ltd, one of the partners in the PNG LNG plant and expansion project. 

Australia LNG and energy company Santos, with stakes in three Asia-Pacific LNG plants, posted an annual net loss of net loss of US$1.04 billion, including a US$1.1Bln asset write-down on its Gladstone coal-seam-gas-to-LNG plant it operates in the eastern state of Queensland. 

Our North America editor

The US Department of Energy has published its latest monthly report on liquefied natural gas imports and exports, showing that 15 cargoes were exported from the Sabine Pass liquefaction plant in Louisiana, operated by Cheniere Energy, to six different nations. 

The General Dynamic NASSCO shipyard in San Diego, California, has begun sea trials for the latest LNG-ready petroleum products carrier built for US shipping line Seacor Ocean Transport Inc. 

Our Europe editor

BC Ferries, the Canadian shipping company serving towns and communities around Vancouver Island in British Columbia, says the second of three new dual-fuel vessels with LNG capability is on its way to Vancouver from the shipyard in Gdansk in Poland. 

Our Asia-Pacific editor

Japanese LNG import costs have begun to rise as the volumes also jumped by 14.6 percent in January for both long-term contracted cargoes and spot shipments. 

Indian liquefied natural gas imports fell for a second month as global spot prices began to rise and fewer additional shipments were available at affordable prices for gas-fired power and industrial use. 

The Israeli Leviathan natural gas project in the East Mediterranean, which will impact the regional LNG market, has taken a positive final investment decision to proceed with phase one of the development plan to come on stream by the end of 2019. 

Our North America editor in New York

The US liquefied natural gas export projects being developed by Washington DC-based Venture Global LNG, involving two Louisiana plants, one on the banks of the Mississippi River and a second at Calcasieu Pass, has awarded a contract to the General Electric oil and gas unit to supply compressor power for liquefaction. 

GasLog, the Monaco-based LNG shipping company with a fleet of 22 vessels in operation, posted an annual loss even though it was the most active shipper of cargoes from the US Sabine Pass export plant in Louisiana. 

Our North America editor in New York

Fluor Corp., the US energy engineering and construction company, said it won a contract for the Canadian Woodfibre LNG export project being developed at Squamish, north of Vancouver. 

Venture back on FERC agenda after design changes and Japan supply deals

Our North America editor

Jordan Cove LNG, the Canadian-run export project for the US northwest state of Oregon, has been given permission by the US Federal Energy Regulatory Commission to file a new application with an amended design that is expected to improve its chances of being approved. 

News Nudges

Vitol-Gazprom LNG deal

Swiss-based global commodities company Vitol has signed a multi-year LNG purchase agreement for the Russian player Gazprom Marketing and Trading (Singapore) to supply around 300,000 tonnes of LNG per annum from 2018. The supply will come from Gazprom’s diversified LNG portfolio. “We are delighted to be working with Gazprom Marketing and Trading, a subsidiary of Gazprom, the world’s largest producer of natural gas,” said Pablo Galante Escobar, Head of LNG at Vitol. “Vitol is an established participant in LNG markets globally and this development will strengthen our offering to customers worldwide,” he added.


Spanish firm is on track

Gas Natural Fenosa of Spain, one of Europe’s main LNG players with a supply agreement at Sabine Pass in the US, has held its annual shareholder meeting in Barcelona. Chief Executive Rafael Villaseca highlighted the company’s business performance, which was above the average for comparable companies in Europe. Villaseca said that GNF last year obtained 75 percent of its gross earnings from the regulated activities of gas and electricity distribution and the remaining 25 percent from liberalized power generation and natural gas marketing activities.


ABS starts in Houston HQ

The American Bureau of Shipping, one of the leaders of the development of the LNG industry in the US, has broken ground on its new global headquarters in Houston, Texas, comprising a 10-storey building and 326,800 square feet of office space. Completion of the ABS HQ, is scheduled for the end of 2018.