Thursday, 30 November 2006 11:44
LNG sales contracts: How we got to where we are now
By Philip R. Weems
This article is the first in a three-part series on the evolution of LNG sales contracts. In this issue the author highlights the emergence of take-or-pay and price review clauses
During the more than 40-year history of the LNG industry, customs and practices have developed with regard to documenting long-term LNG sales (“SPAs”).
This article is the first in a three-part series on the evolution of LNG sales contracts. In this issue the author highlights the emergence of take-or-pay and price review clauses
During the more than 40-year history of the LNG industry, customs and practices have developed with regard to documenting long-term LNG sales (“SPAs”).
Published in
Jan 06
Thursday, 30 November 2006 10:55
Long-term LNG contracts develop as liquefaction facilities increase
By Philip R. Weems Partner King & Spalding LLP
This article is the second in a three-part series examining the evolution of long-term LNG sales contracts. The first part of the series addressed trends and issues in the 1960s and 1970s. In this issue the author highlights some of the key features of such contracts in the 1980s and 1990s, many driven at least in part by the rise in project financed liquefaction facilities and the increased number of players in the market. The final part of this series will address trends and issues in the 2000s.
This article is the second in a three-part series examining the evolution of long-term LNG sales contracts. The first part of the series addressed trends and issues in the 1960s and 1970s. In this issue the author highlights some of the key features of such contracts in the 1980s and 1990s, many driven at least in part by the rise in project financed liquefaction facilities and the increased number of players in the market. The final part of this series will address trends and issues in the 2000s.
Published in
Feb 06
Wednesday, 29 November 2006 17:17
Terrorism threat raises bar in permit process in US and elsewhere
One of the great public misconceptions is that LNG carriers and facilities are favored terrorist targets
An offshore liquefied natural gas terminal proposed for Long Island Sound between New York and Connecticut poses safety and security risks that would require more firefighters, escort boats and other measures to prevent accidents or terrorist attacks, according to the US Coast Guard.
In addition to the local opposition to East Coast LNG terminals from citizens, security requirements are also now raising potential obstacles to projects even moving beyond the planning stage.
An offshore liquefied natural gas terminal proposed for Long Island Sound between New York and Connecticut poses safety and security risks that would require more firefighters, escort boats and other measures to prevent accidents or terrorist attacks, according to the US Coast Guard.
In addition to the local opposition to East Coast LNG terminals from citizens, security requirements are also now raising potential obstacles to projects even moving beyond the planning stage.
Published in
Oct 2006
Tuesday, 28 November 2006 13:26
LNG contracts enter the sophistication stage
Philip Weems of King & Spalding.
This article is the last of a three-part series examining the evolution of long-term LNG sales contracts. The first and second parts of the series addressed trends and issues from the 1960s through to the 1990s. In this issue the author focuses on trends since 2000, including the emergence of more sophisticated force majeure and termination clauses, and the abolition of destination restrictions in the European market.
This article is the last of a three-part series examining the evolution of long-term LNG sales contracts. The first and second parts of the series addressed trends and issues from the 1960s through to the 1990s. In this issue the author focuses on trends since 2000, including the emergence of more sophisticated force majeure and termination clauses, and the abolition of destination restrictions in the European market.
Published in
March 06
Tuesday, 28 November 2006 13:20
Pricing up LNG opportunities in US Gulf Coast
Greg Hopper, Dr. Hua Fang and Nimmi Sarda Black & Veatch Enterprise Management Solutions
Conventional wisdom states that LNG import terminals are best sited in or near consuming markets where they can provide supply as well as new capacity for growing demand.
This is exactly what is happening in North America, with terminal developers eyeing waterfront locations near every major US market center on the east and west coasts.
Conventional wisdom states that LNG import terminals are best sited in or near consuming markets where they can provide supply as well as new capacity for growing demand.
This is exactly what is happening in North America, with terminal developers eyeing waterfront locations near every major US market center on the east and west coasts.
Published in
March 06
Wednesday, 08 November 2006 16:46
French float some new ideas for a generation of offshore terminals
Michel Vache DORIS Engineering (France)
DORIS Engineering is pioneering the development of Gravity Base Structures for LNG terminals.
The French company is building on its work on other platforms designed for the exploitation over the past 40 years of offshore oil and gas resources, such as FPSOs (Floating Production Storage Offloading), TLPs (Tension Legs Platform), subsea risers in deep waters, and marine operations.
One possible answer to the growing demand for natural gas is offshore LNG import terminals installed away from the shore, but as close as possible to the consumers, such as LNG-GBSs (Liquefied Natural Gas on Gravity Base Structures), FSRUs (Floating Storage Re-gasification Units), or special storage, re-gasification and offloading systems.
DORIS Engineering is pioneering the development of Gravity Base Structures for LNG terminals.
The French company is building on its work on other platforms designed for the exploitation over the past 40 years of offshore oil and gas resources, such as FPSOs (Floating Production Storage Offloading), TLPs (Tension Legs Platform), subsea risers in deep waters, and marine operations.
One possible answer to the growing demand for natural gas is offshore LNG import terminals installed away from the shore, but as close as possible to the consumers, such as LNG-GBSs (Liquefied Natural Gas on Gravity Base Structures), FSRUs (Floating Storage Re-gasification Units), or special storage, re-gasification and offloading systems.
Published in
April 2006
Tuesday, 07 November 2006 11:36
Shtokman LNG project may cost $40Bln
Gazprom’s biggest ever project is on the global scale as an investment, but also on the global scale in terms of risk
The Russian company will be disappointed with what Chevron, Total, ConocoPhillps, Statoil and Hydro have put on the table
John McKay, London
Russian natural gas monopoly Gazprom, whose announcement of partners for the Shtokman LNG project has repeatedly been delayed, is continuing to create doubts in the minds of investors about its determination to push the project forward and about the likely final costs.
The cost of the venture was initially put at $10 billion. Gazprom’s latest estimate is around $14Bln, but that is just for Phase I. Analysts now say that the whole project could cost between $35Bln and $40Bln, while the planned start-up of 2010 has already slipped to 2012.
The Russian company will be disappointed with what Chevron, Total, ConocoPhillps, Statoil and Hydro have put on the table
John McKay, London
Russian natural gas monopoly Gazprom, whose announcement of partners for the Shtokman LNG project has repeatedly been delayed, is continuing to create doubts in the minds of investors about its determination to push the project forward and about the likely final costs.
The cost of the venture was initially put at $10 billion. Gazprom’s latest estimate is around $14Bln, but that is just for Phase I. Analysts now say that the whole project could cost between $35Bln and $40Bln, while the planned start-up of 2010 has already slipped to 2012.
Published in
June 2006
Tuesday, 07 November 2006 11:35
Trend emerges for North American terminals race
The number of prospective projects is going to stop growing and the commercial window of opportunity for 2010-2012 will begin to close
Competition brings together large firms with equity LNG supply, large firms without equity stakes in liquefaction and independent developers
The number of prospective LNG terminal projects in North America has exceeded by a great margin the actual needs of the market.
It has become more than clear that of the sixty-odd approved, proposed and potential terminal projects tracked by the FERC, only some will see their way through to construction and eventual commissioning.
Competition brings together large firms with equity LNG supply, large firms without equity stakes in liquefaction and independent developers
The number of prospective LNG terminal projects in North America has exceeded by a great margin the actual needs of the market.
It has become more than clear that of the sixty-odd approved, proposed and potential terminal projects tracked by the FERC, only some will see their way through to construction and eventual commissioning.
Published in
June 2006
