In this issue

 

Free ReadWith Europe’s gas demand forecast to surge nearly 30% to 400 Bcm by 2035, Russia is eager to grow its market share. Eager to top rival suppliers, Gazprom is seen…
Brazilian infrastructure company Prumo Logistica is gearing up to start construction of its second gas power plant at the Port of Acu in Rio de Janeiro state before the end…
Jamaica’s Prime Minister Andrew Holness has confirmed the country is on track to generate half of its electricity from imported natural gas and renewables. The recent commissioning of New Fortress…
Capex-intensive Alaska LNG has been given another life-line, with supermajors ExxonMobil and BP committing to spend a further $20 million to help advance the $43 billion Alaska LNG project. Critics…
Free ReadTight oil and gas production in the United States could soon become less sensitive to price as super-majors like Chevron and ExxonMobil increase their shale acreage and commit to development…
Australian-owned LNG trading platform GLX is now allowing European gas buyers and sellers to access its digital bid-offer system for global spot LNG cargo dealings. U.S. and Russian cargoes are…
The Commonwealth LNG export project, proposed for the west side of the Calcasieu Ship Channel in Louisiana, has signed a Heads of Agreement with Singapore-based commodities trading house Gunvor. The…
Free ReadCheniere Energy has produced first LNG at the second liquefaction Train at the Corpus Christi export plant in Texas. Completion was achieved ahead of schedule, the operator said, but gave…
China’s state-owned CNOOC is making a concerted effort to meet, and even overshoot, its target on capital expenditure. The company’s revised strategy follows President Xi Jinping's call for greater self…
Indonesia and the Philippines, archipelagos within the Association of Southeast Asian Nations (ASEAN), are in focus of MAN’s new integrated LNG-to-Power solutions. “We have new projects under development mainly in…
Free ReadKawasaki Heavy Industries of Japan is advancing the development of a floating power plant that will operate on regasified LNG, targeting utility customers in remote areas of Southeast Asia. The…
The American Gas Association has welcomed the balanced perspective taken in the draft guidance released by the White House Council on Environmental Quality in relation to the greenhouse-gas emissions of…
California-based Sempra Energy is striving to take a leadership role in modernizing North America’s natural gas infrastructure to help incentivize power plant operators to switch from coal to gas. On…
Trump-alley Andrew Wheeler, the head of the U.S. Environmental Protection Agency (EPA), has signed a final ruling that roles back Obama-era emission limits for thermal power plants. The new rule…

News Nudges

Tellurian’s LNG supply accord with India’s Petronet lapses

Tellurian Inc., the developer of the Driftwood LNG plant in Louisiana, has confirmed that a memorandum with Petronet LNG has lapsed. Though the MOU was not renewed when it expired at the end of May, Tellurian stressed, talks with the Indian company were continuing. Tellurian’s accord with Petronet, first signed in Houston in September 2019, covered a possible equity investment in the project of up to $2.5 billion as well as 5 mtpa of supplies. It was seen as a landmark deal for Driftwood LNG to reach FID on the proposed 26 mtpa project on the west bank of the Calcasieu River. However, the Petronet-Tellurian agreement suffered its first setback in February 2020 when it was announced that the informal agreement would become a formal transaction by the start of June 2020. Driftwood LNG still has other supply agreements in place with Total and the global commodities trading house Vitol. As a principal investor, Total agreed to purchase 1 mtpa of LNG from Tellurian ventures and an additional 1.5 mtpa from Tellurian’s offtake volumes from Driftwood. Total's aggregate investment in the Tellurian portfolio will be around $907 million once a FID will be taken, though this looks likely to be delayed. Construction for the Driftwood plant has already been contracted to Bechtel.