Pieridae Energy of Canada, developer of the Goldboro LNG export project in the Atlantic coast province of Nova Scotia to supply German customers, has named Melanie Litoski as its Chief Financial Officer from the start of October. Litoski succeeds Mario Racicot who has just retired from the post.
US LNG decreased by one shipment on the week ending September 21 to five cargoes, four from the Sabine Pass plant in Louisiana and one from Cove Point in Maryland. Three more carriers were lifting cargoes, two at Sabine and one at Cove Point. “Cove Point LNG facility received an LNG vessel on September 16, two days after the landfall of Hurricane Florence in North Carolina,” noted the weekly report from the Energy information Administration (EIA).
Tellurian, developer of the proposed 27 mtpa Driftwood LNG export plant and three affiliated pipelines, has received a draft environmental impact statement from US regulators allowing it to stay on track for a start-up in 2023.
The US Department of Energy (DoE) has issued a short-term order to Freeport LNG, under development at Quintana Island in Texas, to export up to 2.14 billion cubic feet per day (bcf/d) of natural gas as LNG over a two-year period to both free-trade and non-free trade agreement countries.
Financing models of the U.S. shale oil and gas industry – often small wildcatters – has for long been characterised by negative free cash flow as expectations of rising production and cost improvements led to continuous overspending in the sector. Over the last few months, however, IEA analysts have noticed a “notable improvement in financial condition,” though the overall health of the industry remains fragile.
Dealing a blow to US LNG aspirations, PetroChina considers suspending its US LNG purchases for delivery this winter. Location swaps of cargoes might help sort matter, with Japan and South Korea expected to step up imports of American LNG in order to sell some cargoes onward to Chinese buyers.
One-in-five LNG cargoes setting sail from Sabine Pass are heading to Mexico this year while demand from Argentina and Brazil remains sluggish. Mexico imported 29 cargoes from the US in H1-2018, according to data from the U.S. Department of Energy (DoE).
AES Colón – a $1.15 billion LNG import terminal and adjacent combined-cycle power plant – has just been inaugurated in Panama. The project comprises the first LNG regas terminal in Central America and a CCGT with 381 MW capacity. Start of commercial operation is slated for September 1.
Seeking to accommodate U.S. President Donald Trump’s demands for greater LNG sales to Europe, the European Commission President Jean-Claude Junker has said the EU would build more LNG import terminals. However, this does not mean imports will increase as the JKM-TTF spread remained wide enough over the past year for US cargoes to get a higher netback going to Asian than Europe.
The Government of South Korea is planning to cut natural gas taxes by 74% and raise taxes on the use of thermal coal for power generation by 27% next year. The move is aimed at reducing the country's heavy reliance on coal for power generation and shift towards cleaner-burning gas, government officials.
US LNG export project investors and potential foreign importers of the fuel have been informed by the US government that non-Free Trade Agreement permits are valid for their whole 20-year terms. In a policy statement the Department of Energy (DoE) said these non-FTA permits would never be revoked as long as America believes in capitalism.
The Federal Energy Regulatory Commission (FERC) has authorized the commissioning of Train 1 and the common area utilities at both the liquefaction and pre-treatment facilities. Freeport’s first three Trains are scheduled to enter service sequentially between 2019 and 2020.
Pieridae Energy, the developer of the Goldboro LNG export project in the Canadian Atlantic Coast province of Nova Scotia, has posted widening second-quarter losses as it progresses with the venture that includes selling cargoes to German utility Uniper.
Keen to accelerated the commissioning of Train-5 at Sabine Pass LNG, Cheniere Energy has filed a request with the Federal Energy Regulatory Commission (FERC) for permission to inject feed gas into the new liquefaction train “at the earliest time possible, but no later than September 6” so that it can remain on schedule.
Commissioning cargo departs from Corpus Christi Train-1
The first commissioning cargo has loaded and departed from Train-1 at Cheniere Energy’s Corpus Christi LNG export terminal in Texas. The LNG was loaded onto the 174,000 cubic metres capacity carrier “Maria Energy”, charted by Houston, Cheniere’s marketing unit. Start-up of Train-1 marks the first export of LNG from the state and from a greenfield liquefaction facility in the lower 48 states. All three Corpus Christi trains combined will produce up to 13.5 mtpa. The first two Trains are fully contracted and Train 3 is mostly contracted. Any excess capacity will be available for Cheniere Marketing to sell. Corpus Christi is being constructed at a cost of $15 billion.