LNG

Foster Wheeler, a leading LNG engineering and construction firm, said its board unanimously approved changing the company’s domicile from Bermuda to Switzerland, though its operational headquarters would remain in Clinton, New Jersey.

The US said its imports of LNG are expected to total about 360 billion cubic feet of gas in 2008 and slightly over 400 Bcf in 2009, well below 2007 levels, as the global economic slowdown is now forecast to be more severe and longer than expected, leading to further cuts…

Mafi-Trench Co., a California-based supplier to the oil and gas upstream sector, said it received its first LNG industry order from a contractor involved in a liquefaction project offshore West Africa planned by Norway’s Flex LNG.

The Russian Shtokman LNG project’s future development will depend on when the global financial crisis eases and oil prices recover as about $14 billion of the estimated $20Bln cost will have to be borrowed, head of the Shtokman Development Co. said.