US natural gas output falls while LNG exports drop because of weather and further declines forecast
US production of natural gas dropped in February while LNG exports also plunged 23 percent because of the bad weather and navigational restrictions on the Gulf Coast during the month.
Oil price plunges in biggest fall in 30 years with term LNG affected but spot already discounted
Oil prices plunged over the weekend with their biggest fall in almost 30 years as the world’s largest exporter Saudi Arabia decided to slash prices and North Sea Brent crude hit $33.56 a barrel, a more than 32 percent drop since Friday when it was at $49.32 per barrel.
Texas LNG Brownsville moves forward on regulatory path with second wave of US plants
The US export project, Texas LNG Brownsville, was authorized by the Department of Energy to export US-sourced natural gas to any country with which the US has not entered into a Free Trade Agreement.
New Fortress Energy signs long-term LNG supply deal as it advances Caribbean activities
New Fortress Energy, the owner of LNG facilities in Florida and in Jamaica and projects in Puerto Rico and the US northeast, said it signed a long-term LNG supply agreement for eight cargoes a year for 10 years through January 2030.
The New Fortress company is led by Wes Edens, co-founder of the private equity group Fortress Investment.
“This agreement will support the continued growth of New Fortress’ customer base in international markets as the company develops LNG terminals and natural gas infrastructure,” said the company without disclosing who the seller was.
New Fortress made its debut on the Nasdaq global exchange in January 2019 after an initial public offering.
Its main corporate focus now is introducing LNG to markets that lack access to the fuel.
“This agreement supports our efforts to spur economic growth and reduce emissions as we deliver more affordable and cleaner energy to our customers,” said New Fortress Chairman and CEO Edens.
“We evaluated a broad range of competitive offers to meet the expansion of our LNG terminals across international markets,” he added.
“We’re pleased to take advantage of the dislocation in global LNG markets and secure 10 years of offtake for our growing business,” stated the CEO.
In addition to its 100,000 gallons per day liquefaction plant in Miami, it operates a floating LNG terminal in Montego Bay, Jamaica, along with a fuel-handling facility and an associated contract in the US territory of Puerto Rico.
The New Fortress Puerto Rico subsidiary, NFEnergía, has entered into a contract with the Puerto Rico Electric Power Authority for the supply of natural gas and conversion of two out of six units at the San Juan combined-cycle power plant. The initial term of the contract is five years.
The Miami facility began operations in April 2016 and enables the company to produce LNG for export in intermodal ISO containers to the Caribbean and to small-scale customers in southern Florida.
The company is also looking at developing a Pennsylvania LNG distribution facility.
Vietnam gives go ahead for Mekong Delta $4Bln power project fuelled by US LNG imports
The Vietnamese province of Bac Lieu held a ceremony to hand over an investment permit to Singapore-based Delta Offshore Energy to develop a $4-billion power project on the Mekong Delta fuelled by imports of liquefied natural gas from the US state of Louisiana.
