LNG

ADNOC Gas, the stand-alone spin-off from Abu Dhabi National Oil Company in the United Arab Emirates, has signed a natural gas supply agreement with Chinese major PetroChina International.

July 17 (LNGJ) - Japan Petroleum Exploration (Japex), the mainly Asian energy and LNG projects particpant, has established a joint venture in Norway with Longboat Energy called Longboat Japex Norge AS. Longboat said that having completed the transaction, a $100 million financing facility for acquisitions and associated development costs has been established for the venture to draw on.

    “We are pleased that the creation of the Longboat-Japex joint venture has completed as scheduled and now looks forward to pursuing further acquisitions and opportunities on the Norwegian Continental Shelf to follow on from the first joint transaction announced at the beginning of this month,” said Helge Hammer, Chief Executive of Longboat. “In the near term, we are looking forward to the drilling of the high impact Velocette exploration well (JV 20 percent) which is expected to spud in September,” said Hammer.

Japan Petroleum Exploration (Japex), which operates the main LNG import terminal in Japan’s Fukushima Prefecture and has a stake in an LNG receiving terminal in the Vietnamese port city of Haiphong, said it was also planning to expand its shale oil and gas interests in the US.

March 17 (LNGJ) - Japan Petroleum Exploration Co. (Japex) said it suspended operations at its Soma LNG terminal after an earthquake the previous day off the coast of Fukushima Prefecture. “There has been no damage to the surrounding area, such as gas leakage from the terminal,” stated Japex. The terminal receives and stores LNG from overseas and regasified cargoes serve a nearby power plant, or can be distributed along the coast or loaded onto trucks.

   “Due to the suspension of supply operations immediately after the earthquake, boil-off gas, the vaporized gas from LNG stored in the LNG storage tanks, is being burned as a measure to release the gas safely. By taking these measures, flames are being emitted from the flare stack, but there are no safety issues at the terminal or the surrounding area,” explained the company.

Japan Petroleum Exploration (Japex), which operates the main LNG import terminal in Japan’s Fukushima Prefecture, is taking its expertise to Vietnam to help develop an LNG receiving terminal in the Vietnamese port city of Haiphong.

Japan Petroleum Exploration Co., the oil and gas operator with liquefied natural gas import terminal and Japanese pipelines assets, has agreed to cut losses and sell its stake to Malaysia’s Petronas in the Canadian North Montney shale-gas joint venture.