LNG

Governor Bill Walker wants a majority ownership in the Alaska LNG project, at least 51%, and is considering imposing a tax on gas reserves as leverage against the private developers.A reserves tax is a property tax on the value of natural gas reserves in the reservoir.

National oil companies in China are desperately trying to renegotiate LNG purchase commitments from Australia after domestic demand continues to slump. Sinopec reportedly seeks new terms for deliveries from APLNG which will come onsteam shortly. The option of buying spot cargoes from the US has become rather unlikely.

ElectroGas of Malta has insisted that construction of the much-delayed Delimara LNG-to-power plant would be privately funded and not a public sector project. Controversy started after the Government intervened to guarantee €360 million of a €450 million bridge loan that ElectroGas took out with four banks.

InterOil Corp., the developer of a second LNG export project for Papua New Guinea along with France's Total, was given further insights into its planning of the venture and expressed confidence there was more than enough feed-gas for two liquefaction Trains.