LNG

Constellation Energy said its commodities group subsidiary has entered into a short-term regasification agreement with the Freeport LNG terminal that will be the first new plant to open on the US mainland in over 25 years when it goes on stream at the end of 2007.

Excelerate Energy said it had agreed with Belgian natural gas shipping company Exmar to buy stakes in three more LNG regasification vessels.

Morocco, the North African state which produces only small volumes of oil and natural gas, is set to go ahead with the construction of an LNG reception terminal to import supplies and aid economic growth.

Gazprom has opened its first major natural gas development in more than five years and at the same time announced it had shortlisted several companies for a Baltic LNG project and would choose two equity partners in July.