Clock is ticking for BC's LNG projects as Asian prices plunge
British Columbia supports LNG export projects as a "once in a generation" opportunity, according to Rose Klukas, Kitimat's economic development officer; but the clock is ticking as falling gas prices in Asia could close that window of opportunity.
Egypt mulls Suez Canal expansion, makes room for more Q-Flex tankers
Countering the Panama Canal expansion operational from early 2015, the Egyptian government is evaluating plans to spend $4 billion on building a new widened shipping lane besides the Suez Canal. The move to a bi-directional lane would facilitate the transit of more Q-Flex LNG vessels.
US LNG exports pose no short-term threat to Gazprom
If US LNG volumes do eventually reach Europe, there is a huge capacity for Russia's Gazprom to beat them on costs of production and delivery, analysts said, stressing Asia will remain the key target market for cargoes from North America regardless of continued unrest in Ukraine.
Cameron LNG draw-down expected in September
Aug 21 (LNGJ) - Project sponsors of the $10 billion Cameron LNG project concluded debt financing and are expected to make their first draw-down in September.
Financing secured for the project amounts to $7.4 billion, based on commitments from the Japan Bank for International Cooperation and 29 commercial lenders. Sponsors took FID on August 6.
Inpex to divest 1.2% in Ichthys LNG
Aug 21 (LNGJ) - Japan's largest oil and gas explorer Inpex has agreed to sell a 1.2% stake in Australia's Ichthys LNG project to Japanese utility Kansai Electric Power Co.
The deal reduces Inpex shareholding to 62.25% and follows Kansai's commitment to buy 800,000 tonnes of LNG per year from the project over a period of 15 years starting from 2017.
The liquefaction terminal, which counts Total and others as shareholders, is slated to start-up before the end of 2016.
Japanese LNG imports hit record high
LNG imports to Japan have reached a new record, surging 5.7% year-on-year to 7.84 million tons in July due to rising seasonal demand from utilities as the nuclear void continues, government data shows.
Insurers at odds over pricing risk of Arctic LNG carriers
The insurance risk of Arctic LNG carriers, fitted with Azipod propulsion units and worth around $400 million, may not have been properly calculated, UK-based marine insurer Marsh warned.
DoE treats Alaska LNG export application 'differently'
U.S. Energy Secretary Ernest Moniz has stressed the Department of Energy will fast-track the export license review for the Alaska LNG project. "We will treat Alaska differently. The public interest is not an issue for us," he said at a briefing in Anchorage.
Hawaii turns to LNG
Aug 20 (LNGJ) - Hawaii and several other US island territories increasingly view imported LNG as a 'viable option' for expanding their fuel diversity, according to the US Energy Information Administration (EIA).
Relatively low US natural gas prices, support this move as well asthe use of standardized cryogenic shipping containers which allows smaller volumes of LNG to be trucked, railed, and shipped.
Mozambique grants 'special regime' for LNG
The parliament of Mozambique has passed an amended petroleum law that authorizes the government to create "a special regime" for LNG processing in the offshore Rovuma Basin Areas 1 and 4, where Anadarko and Eni are operating with the aim of developing LNG export terminals.
