FERC approval for Commonwealth LNG paves way for $11bn project
Federal Energy Regulatory Commission’s (FERC) final order for Commonwealth LNG is affirming the authorisation of its 9.5 mpta LNG export terminal to be built along Calcasieu Ship Channel near Cameron, Louisiana. With FERC’s final order in place the $11 billion project can now go ahead.
US LNG report shows Turkey as leading destination at turn of year and Calcasieu Pass still having highest prices
The US Department of Energy issued its March 2024 liquefied natural gas and pipelines export and import data with Turkey as the leading destination for LNG shipments while the leadership in highest prices remained with the Calcasieu Pass plant in Louisiana.
Cheniere terminals dominate US LNGC sailings
Seventeen LNGCs sailed from the US between 4th August and 10th August, according to shipping data provided by Bloomberg Finance to the US Energy Information Administration (EIA).
Eight LNGCs left Sabine Pass, four from Corpus Christi, three from Cameron and one each from Calcasieu Pass and Cove Point.
They had a combined LNG-carrying capacity of 64 bill cu ft.
During the period, the Henry Hub spot price rose 6 cents to $7.89 per MMBtu, while the price of the September 2022 NYMEX contract fell by 6 cents to $8.202 per MMBtu yesterday.
The 12-month strip price averaging September, 2022 through August, 2023 futures contracts dropped by 2 cents to $6.732 per MMBtu.
According to Bloomberg Finance, weekly average futures prices for LNG cargoes in East Asia increased 65 cents to a weekly average of $44.61 per MMBtu, and natural gas futures for delivery at the Title Transfer Facility (TTF) in the Netherlands, fell by 38 cents to a weekly average of $59.16 per MMBtu.
Data supplied by PointLogic, showed that the average total supply of natural gas in the US fell by 0.1% (0.1 bill cu ft per day), compared with the previous reporting week. Average net imports from Canada dropped by 6% (0.3 bill cu ft per day) from the last week.
Natural gas exports to Mexico fell by 3.3% (0.2 bill cu ft per day). Natural gas deliveries to US LNG export facilities (LNG pipeline receipts) averaged 10.8 bill cu ft per day, 0.1 bill lower than last week, the EIA said, quoting PointLogic.
Cameron LNG project developer Sempra agrees to sell non-utility US natural gas storage assets
Sempra Energy, the developer of the Cameron LNG project in Louisiana and Costa Azul LNG in Mexico, said it signed an agreement to sell its non-utility US natural gas storage facilities for $322 million to a unit of ArcLight Capital Partners.
Sempra and French energy major Total sign accord on LNG export projects in US and Mexico
French energy major Total and Sempra Energy of the US have signed an accord for cooperation in the development of North American liquefied natural gas export projects, including phase two of the Cameron LNG plant in Louisiana and the Costa Azul project in Mexico.
Sempra Mexican plans
April 19 (LNGJ) - Sempra Energy, the California-based utility transforming its Cameron LNG terminal in Louisiana and Costa Azul facility on the Pacific coast of Mexico into export plants, said it was scaling back its Mexican liquefaction plans. The Sempra Mexican subsidiary, Infraestructura Energetica Nova (IEnova), is now looking at a small-scale plant with 2.5 million tonnes per annum of output by around 2023 instead of a larger plant constructed later with up to 12 MTPA of capacity and closer to the size of Cameron LNG. Sempra is also planning to construct another export plant along the Sabine-Neches Waterway at Port Arthur in southeast Texas with Australian company Woodside Petroleum as one of its partners.
Most powerful woman in LNG industry Debra Reed to step down as Sempra's supremo
Sempra Energy supremo Debra L. Reed, the most powerful woman in LNG and the US utilities industry, plans to step down at the end of the year after a 40-year career that included leading two LNG export and liquefaction projects in the US and Mexico near to their fruition.
US Cameron LNG developer Sempra expects $11Bln in income as second plant also advances
Sempra Energy, developer of the US Cameron LNG export project in Louisiana, said the venture would likely generate a “mountain of cash” for the company, amounting to at least $11 billion, while it was also moving forward with a second plant in Texas.
Stage 1 engineering of Cameron LNG almost complete
Aug 27 (LNGJ) - Sabine Pass LNG has filed a report with FERC saying the first engineering stage of the liquefaction trains 1 and 2 at its export terminal in Cameron Parish, Louisiana, is 99.4% complete.
Procurement is 99.5% complete, and subcontract and direct hire construction work are 46.6% and 35.6% complete, respectively.
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.
