LNG

Sempra's Energía Costa Azul (ECA) LNG terminal has received its first feedgas with a view to start LNG production this spring. The Pacific-facing terminal is targeting Asian markets, with offtake by TotalEnergies and Mitsui supporting Phase 1 project economics.

Japanese trading company Mitsui & Co is in advanced negotiations to buy a minority stake in Qatar’s North Field South LNG expansion, a 16 mtpa liquefaction project being developed at an estimated cost of $17.5 billion. The deal would give Mitsui access to one of the world’s lowest-cost LNG developments.

Japan’s new Prime Minister, Sanae Takaichi, has rebuked demands from US President Donald Trump for an outright ban of Russian LNG, saying such a move would be “difficult.” Mitsui and Mitsubishi own stakes in the Sakhalin-2 project and Russian LNG currently cover some 9% of Japan’s total imports.

Warren Buffet’s Berthshire Hathaway Inc. has become a major shareholder in Mitsui, having acquired more shares to now hold 10% or more of the voting rights in the Japanese trading house. The US investor told Mitsui it considers buying more share in the future.

Sakhalin-2, the Russian oil and LNG project that was handed over to local management two months ago, is now fully operational.

Japanese trading houses, Mitsui & Co and Mitsubishi Corp have cut the value of their stakes in Russia’s Sakhalin-2 LNG project by 217.7 bill yen ($1.66 bill).

The Mozambique government said US energy giant Exxon Mobil and partners such as PetroChina have finalized their investment plan for the southeast African nation’s Mamba LNG project backed by offshore Rovuma Basin resources and would hold a signing ceremony on October 8 in the capital Maputo.

Mitsui, the Japanese trading house and liquefied natural gas market participant, has held talks with Gazprom on progress made in two Russian plans to expand LNG output, on the existing Sakhalin Island plant in the Far East and at a planned facility west of Saint Petersburg.

Anadarko Petroleum has named former BG Group executive Mitch Ingram as Executive Vice President for International, Deepwater and Exploration to lead the US company’s overseas operations and project management, including the Mozambique LNG joint venture in southeast Africa.

Mitsui & Co., the Japanese trading house and stakeholder in the Mozambique onshore LNG project led by Anadarko Petroleum of the US, said it expected a final investment decision on the joint venture by the end of the year.