The France-based International Group of Liquefied Natural Gas Importers has published a handbook to promote a broad understanding and knowledge of the retail, small-scale and mobile LNG markets.
French LNG player and utility, Engie, has signed a deal to receive LNG cargoes from the US Gulf Coast over a five-year period, mostly at the Montoir-de-Bretagne import terminal on the Atlantic coast of western France and at European prices.
Buyers, spoilt for choice, have adopted a 'wait & see approach' but QatarGas does not see itself challenged. "We're optimising our established position but are not competing with US LNG," Alaa Abu Jbara, COO Commercial and Shipping at QatarGas said in Singapore today.
Gazprom's pricing strategy for exports to Europe is a wildcard that will determine how much US LNG will find a home there. It's revenue vs market share, analysts at the Gastech conference in Singapore agree.
UK classification society Lloyd's Register said it had completed a joint project with Hanjin Heavy Industries and Construction of South Korea to develop a storage tank for small-scale LNG carriers.
Leading US LNG engineering company Bechtel and liquefaction and storage equipment maker, Chart Industries, have signed an agreement to design and build floating LNG facilities using Chart's technology. At the same time, the energy unit of Kiewit Corp. of the US and the largest LNG equipment maker Air Products have…
Bureau Veritas, the French classification society, has issued requirements for liquefied natural gas bunkering tankers and their arrangements for transferring that LNG to ships using it as fuel.
A supply gap is likely to open up by the end of the decade and to prevent this, the industry should reduce costs of liquefaction, e.g. through small FLNG units, suggests Philip Olivier, CEO of ENGIE Global LNG.
Rebuking criticism of the oil&gas industry, BG's chief executive Helge Lund has called for "courage to continue investing in difficult times," while ensuring shorter cash-flow returns. "Otherwise we're simply setting ourselves up for the next boom," he said at the Gastech opening in Singapore today.
Energy consultants Wood Mackenzie said a spot natural gas floor price of above US$5 per million British thermal units would have to prevail in the current LNG over-supply environment if new US LNG production was to avoid been shut in.