Thursday, 30 November 2006 11:53
News Index January 2006
A round-up of latest events, company statements, industry reports and people in the news
Published in
Jan 06
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
Wednesday, 29 November 2006 17:27
LNG will help bolster energy security of the US
Leading members of the Society of Petroleum Engineers believe the US government’s estimates of natural gas usage are far too conservative.
This paper was prepared for presentation at the 2006 Society of Petroleum Engineers Annual Technical Conference held in San Antonio, Texas, U.S.A., from September 24–27, 2006.
Natural gas prices in the US and elsewhere are expected to be kept at reasonable levels for decades to come, thanks to the development of alternative supplies such as liquefied natural gas.
However, regulatory policies, concerned environmental groups, and industrial inaction are expected to create choke points in the supply chain.
This paper was prepared for presentation at the 2006 Society of Petroleum Engineers Annual Technical Conference held in San Antonio, Texas, U.S.A., from September 24–27, 2006.
Natural gas prices in the US and elsewhere are expected to be kept at reasonable levels for decades to come, thanks to the development of alternative supplies such as liquefied natural gas.
However, regulatory policies, concerned environmental groups, and industrial inaction are expected to create choke points in the supply chain.
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
Wednesday, 08 November 2006 16:40
Egyptian LNG sets new standard
LNG Journal Middle East Editor
Egyptian LNG turned a natural gas find into a commercial LNG venture in record time as it set an industry benchmark by delivering the first cargo from Egypt just six years after the first gas field discovery.
ELNG is a partnership between the Egyptian Natural Gas Holding Co., the Egyptian General Petroleum Co, BG Group of the UK, Petronas of Malaysia and Gaz de France.
The natural gas liquefaction and export project is located at Idku, in the Nile Delta, 50 kilometres east of the city of Alexandria.
In May 1995, the Egyptian General Petroleum Corp. signed a concession agreement with affiliates of BG and Edison SpA of Italy, giving the two foreign partners the right to explore for hydrocarbons in the Mediterranean deep water, north east of Alexandria.
Egyptian LNG turned a natural gas find into a commercial LNG venture in record time as it set an industry benchmark by delivering the first cargo from Egypt just six years after the first gas field discovery.
ELNG is a partnership between the Egyptian Natural Gas Holding Co., the Egyptian General Petroleum Co, BG Group of the UK, Petronas of Malaysia and Gaz de France.
The natural gas liquefaction and export project is located at Idku, in the Nile Delta, 50 kilometres east of the city of Alexandria.
In May 1995, the Egyptian General Petroleum Corp. signed a concession agreement with affiliates of BG and Edison SpA of Italy, giving the two foreign partners the right to explore for hydrocarbons in the Mediterranean deep water, north east of Alexandria.
Published in
April 2006
Wednesday, 08 November 2006 16:37
Liquefaction won’t mean credit where credit’s due
This is the first part in a two-part series covering credit rating analysis of LNG projects worldwide
LNG shipping projects associated with supply chains in countries such as Russia, Nigeria and Indonesia will find investment-grade ratings elusive
Terry A Pratt, New York , Jan Willem Plantagie, Frankfurt, Karim Nassif, London, Michael K Vernier New York
Financing for liquid natural gas shipping projects has the potential to reach investment-grade credit ratings.
The strong global demand for LNG attracts huge investment for construction and operation of LNG liquefaction plants, LNG ships and LNG regasification terminals.
LNG shipping projects associated with supply chains in countries such as Russia, Nigeria and Indonesia will find investment-grade ratings elusive
Terry A Pratt, New York , Jan Willem Plantagie, Frankfurt, Karim Nassif, London, Michael K Vernier New York
Financing for liquid natural gas shipping projects has the potential to reach investment-grade credit ratings.
The strong global demand for LNG attracts huge investment for construction and operation of LNG liquefaction plants, LNG ships and LNG regasification terminals.
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 10:14
News Index
A round-up of latest events, company statements, industry reports and people in the news
Published in
Jul / Aug 2006
Tuesday, 24 October 2006 10:58
LNG carrier owners can consider their options
Clare Calnan
Looking back over the last 20 years it can be seen that in terms of both the types of trading and the volumes of cargoes being transported the LNG market has come a long way in a short time.
By 2009 the size of the LNG carrier fleet is expected to increase to 300 vessels and by 2011 it is likely to reach 450 vessels.
It is inevitable that with this level of expansion comes innovation and flexibility, not only on the part of the oil and gas companies developing new sources of supply, but also on the part of the LNG buyers in both traditional and emerging markets.
Looking back over the last 20 years it can be seen that in terms of both the types of trading and the volumes of cargoes being transported the LNG market has come a long way in a short time.
By 2009 the size of the LNG carrier fleet is expected to increase to 300 vessels and by 2011 it is likely to reach 450 vessels.
It is inevitable that with this level of expansion comes innovation and flexibility, not only on the part of the oil and gas companies developing new sources of supply, but also on the part of the LNG buyers in both traditional and emerging markets.
Published in
Sep 2006
Monday, 09 October 2006 11:28
Mathematical formula finds profit in LNG carrier selection
Sokrates Tolgos
The LNG business is generally governed by risk-sharing consortia as well as by long-term supply and ship charter contracts with durations up to 20 or 30 years.
A reliable and stable LNG supply from the producing to the consuming country is an essential requirement in this business, but equally imperative is the continuous search for increased profitability in the transport chain.
Published in
Sep 2006
