Greek company Gastrade broadens equity shares to regional nations on the gas transition path
LNG News Editor:
First Gen Corp. of the Philippines has chosen BW LNG of Singapore to provide a floating storage regasification unit (FSRU) for its LNG import terminal project at Batangas in Luzon.
The Filipino company chose BW Gas over Höegh LNG after a tender for the five-year charter agreement.
“The project will allow First Gen to accelerate its ability to introduce LNG to the Philippines as early as the third quarter of 2022,” said the company.
“It will serve the natural gas requirements of existing and future gas-fired power plants of third parties and First Gen affiliates in the region,” it added.
The vessel expected to be chartered is the “BW Paris” with 162,500 cubic metres capacity of storage, according to company filings in Manila. The FSRU also has a nominal and peak gas send-out capacity of 500 million standard cubic feet per day and 700 MMscf per day respectively.
First Gen, the largest provider of gas-fired power in the Philippines, had earlier chosen Australia-based McConnell Dowell as its engineering contractor for the FSRU onshore requirements.
The First Gen FSRU will provide fast-track energy security for the Batangas region as the major domestic gas field depletes.
The work given to McConnell Dowell is for the first phase of the interim LNG terminal (IOT) project and a major part of it will be the modification of an existing jetty to support the BW Gas FSRU.
The value of the engineering contract is around US$300 million.
The Asian nation’s domestic Malampaya natural gas resources are running down just as the gas-fired power plant network begins to expand.
The only other completed regasification facility in the Philippines is at Pagbilao in Quezon province.
Australia-listed Energy World Corp. has a facility linked to its 100-percent owned 650MW gas-fired power project.
LNG imports will only begin there when the power plant is completed.
Höegh LNG, the Norwegian-US fleet owner, has seen its floating storage and regasification unit (FSRU), the “Höegh Giant”, arrive offshore India to be the Asian nation’s seventh LNG import terminal.
LNG News Editor:
Sempra Energy has sold a 20 percent interest in the new business platform, Sempra Infrastructure Partners, to global equity fund Kohlberg, Kravis, Roberts (KKR) for $3.37 billion in cash.
Angola, the southwest African LNG producer, has found a willing exploration and production partner in Italian energy company Eni, which has plans to invest around $7 billion in Angola over the next four years along with other partner companies.
The United States Court of Appeals for the Second Circuit has unanimously ruled that the City of New York’s climate-change lawsuit against US major Chevron Corp. and a group of other energy producers was without merit and must be dismissed.
The court upheld the federal district court’s decision that New York’s claims are barred, holding that municipalities cannot “utilize state tort law to hold multinational oil companies liable for the damages caused by global greenhouse-gas emissions.”
“However, global warming was one of the greatest challenges facing humanity,” said the court, while ruling that it was a “uniquely international problem of national concern” and therefore was not well-suited to the application of state law.
Chevron is one of the world’s leading LNG operators from plants in Western Australia such as Gorgon LNG and Wheatstone LNG, as well as in Angola in southwest Africa.
Analysts said that other global oil and gas companies such as ExxonMobil, Royal Dutch Shell, BP and Total would be positively impacted by the Supreme Court victory in the US.
LNG is one of the main transition fuels and energy majors have also been at the forefront for many years of other climate-change mitigation methods such as carbon-capture and storage.
The US Court of Appeals rejected New York City’s attempt to regulate and recover damages from the targeted defendants who carried out “legal commercial conduct in producing and selling fossil fuels” around the world.
“Every single person who uses gas and electricity contributes to global warming,” stated the US Court of Appeals in its ruling.
In the process, the court rejected the City’s attempt to “sidestep” the “numerous federal statutory regimes and international treaties” that “provide interlocking frameworks for regulating greenhouse-gas emissions”, as well as enforcement mechanisms.
LNG News Editor:
Royal Dutch Shell, one of the largest LNG and natural gas upstream players, has updated its expectations for first-quarter earnings, including the negative impact of the Texas freeze-up and the effects of spot LNG price volatility and other factors.
Stolt-Nielsen, the London-headquartered Norwegian company with terminal, shipping and Avenir LNG project interests, reported stable first-quarter earnings amid US disruptions and said the LNG import terminal on the Italian island of Sardinia would come on line in May.
LNG News Editor:
Excelerate Energy, the US pioneer of floating liquefied natural gas import terminals, has completed its 2,000th commercial ship-to-ship transfer of LNG worldwide after completing its latest operation in the Bay of Bengal off Bangladesh.