Mouchel Parkman, the engineering design consultancy, said it was hired by Electricite de France to provide advice on managing the marine aspects of the LNG terminal planned for the port of Dunkirk in northern France.
GS Caltex, South Korea's second-largest refiner of petroleum products, is set to become Korea's fourth LNG importer after striking a deal with partner Chevron Corp. to purchase offtake from the US major's Gorgon LNG development project in Australia.
Foster Wheeler, the LNG engineering firm, posted record net earnings of $114.8 million for the first quarter of 2007, compared with $14.6M in the same three months a year ago as the engineering and construction division benefited from robust growth in the sector and a continued global drive towards energy…
US imports of LNG are estimated to have reached 180 billion cubic feet in the first quarter, more than 60 percent above the corresponding period last year, the Energy Information Administration said in its short-term outlook.
The dramatic cost surge in the oil and gas industry that has afflicted LNG projects as well continues, with the latest upstream capital costs index climbing 7 percent to 179 points during the six months ending March 31, 2007.
Fluor Corp., the LNG contractor, said first-quarter net earnings were $85 million, or $0.94 per diluted share, compared with $89M, or $1.00 per diluted share for the same period last year, as government contracts slipped.
McDermott International, whose J. Ray subsidiary is a leading LNG contractor with various wins in Qatar, reported net income of $158.1 million, or $1.38 per diluted share, for the 2007 first quarter, compared to $55.3M, or $0.49 per diluted share, for the corresponding period in 2006.
Qatars Energy Minister Abdullah bin Hamad Al Attiyah and a government delegation have visited the Golden Pass LNG import terminal currently under construction at Sabine Pass, Texas, and where the owners are Qatar Petroleum, ExxonMobil Corp. and ConocoPhillips
BG Group, the biggest player in the Atlantic Basin LNG market, said first-quarter profit fell 25 percent as higher output failed to offset lower prices for oil and natural gas and LNG operating profit dropped even as managed volumes rose.
Total of France, Europe's No. 1 oil refiner and a key LNG player, posted a more than 10 percent fall in first-quarter profits as net income dropped to 3 billion euros ($4.1 billion) from 3.38 billion euros a year earlier on flatter oil prices.