LNG

Shale gas from the US has been brand marked as ‘a new rival’ by the Gas Exporting Countries Forum (GECF) as it undermines the alliance’s strategy on pricing and production volumes. Leaders of Russia and Iran, whose countries hold 44% of global gas reserves, have forged closer ties at the side-lines of latest Gas OPEC meeting in Tehran to rise by 1.5 Bcf/d in 2016 despite declining rig counts – largely thanks to improved efficiency in shale gas drilling. 

Shale gas from the US has been brand marked as ‘a new rival’ by the Gas Exporting Countries Forum (GECF) as it undermines the alliance’s strategy on pricing and production volumes. Leaders of Russia and Iran, whose countries hold 44% of global gas reserves, have forged closer ties at the side-lines of latest Gas OPEC meeting in Tehran to rise by 1.5 Bcf/d in 2016 despite declining rig counts – largely thanks to improved efficiency in shale gas drilling. 

Pieridae Energy, the developer of the Goldboro LNG project in the Canadian province of Nova Scotia, has forged a shareholder relationship with Orlan of Poland, strengthening its European ties beyond the long-term sales agreement with E.ON Global Commodities. 

Houston-based Targa Resources Partners and Sanchez Energy have committed to invest an intital $125 million and $115m, respectively, to build a LNG processing plant and feed-gas pipelines that will exclusively target resources in the Eagle Ford Shale in southern Texas. 

Two companies involved in $100 billion of takeover transactions, BG Group of the UK and Energy Transfer Equity (ETE) of the US, have received full regulatory approval to proceed with the transformation of the existing Lake Charles LNG import terminal in Louisiana into an export plant. 

Clean Energy Fuels Corp., the US developer of a liquefied natural gas fueling station network welcomed the passage by Congress of an alternative fuel tax credit that will continue to support the use of natural gas as a transportation fuel option. 

Committing to a 36% cut in emissions per GDP ratio by 2030, Singapore is counting on clean energy. Natural gas accounts for over 95% of the city state’s power mix, up from just 19% in 2000, but the government eyes even more LNG-to-power plants as well as renewables. 

Higher prices of LNG compared to coal and nuclear is prompting two of the biggest importers in Asia to move away from gas generation.

The market for older tonnage was even more affected

Our Europe editor

Due to the increase of the liquefied natural gas carrier fleet by 27 vessels in 2015, combined with the limited new LNG production for vessels to transport, shipping operators without long-term charter coverage experienced another tough year, according to Norway’s Awilco LNG.

Our North America editor

The Bear Head liquefied natural gas export project in the Canadian Atlantic coast province of Nova Scotia has become the most permitted LNG venture in the western world, with 10 permits from Canada and two from the US and only the federal government in Ottawa could now stand in its way.