LNG

The Golden Pass LNG terminal is nearing completion on the Texas-Louisiana border, but its two jetties and five storage tanks are coming into play at an inauspicious time for the LNG market in the US, where most import facilities are failing to achieve even 30 percent capacity.

LNG demand in the US has been declining because of increasing unconventional gas supply and in Europe any of the proposed Nabucco, Nord Stream and South Stream natural gas pipeline mega-projects will also alter LNG strategies in European Union countries.

Send-out of regasified LNG from US import terminals averaged less than 900,000 million cubic feet per day in the past week, almost 45 percent lower than the average of 1.6 billion cubic feet per day during the first quarter of 2010.

Dutch marine services company Royal Boskalis Westminster said it was awarded a contract for the capital and maintenance dredging of the new Angola LNG project port located at Soyo in the north of the Southwest African country.