LNG

Russia's state-owned Rosneft is edging closer to taking control in the $4 billion Pechora LNG project in the Arctic Circle, which is currently owned by the Moscow-based investment firm Alltech Group.

In a bid to reduce dependence on Russian gas, parliamentarians in Berlin are backing €2 billion in untied loan guarantees to help E.ON secure LNG from Canada's Goldboro venture and other long-term deals from projects in emerging markets.

Aug 27 (LNGJ) - Oman LNG aims to increase prices in long-term LNG export contracts signed with Japan. Though cargoes headed for Korea are already priced at over $18/MMBtum, the price for Omani LNG delivery to Japan in June was just $10/MMBtu - against an average of around $16.20/MMBtu.

Aug 27 (LNGJ) - Sabine Pass LNG has filed a report with FERC saying the first engineering stage of the liquefaction trains 1 and 2 at its export terminal in Cameron Parish, Louisiana, is 99.4% complete.
Procurement is 99.5% complete, and subcontract and direct hire construction work are 46.6% and 35.6% complete, respectively.

Inspired by the shale gale, the US Department of Transport Maritime Administration (MARAD) has evaluated fuel cycle emissions of LNG and CNG-powered vessels.<

Petronas' flexible LNG volume are forecast to hit 26 mtpa in 2022, up from merely 2.5 mtpa last year, so Wood Mackenzie suggest Malaysia has the potential to be the largest supplier of flexible LNG to the global market, even larger than Qatar's.

Finland's Wärtsilä has upgraded its fully integrated fuel gas handling system LNGPac and also made improvements to the gas valve unit (GVU).

As cheap US shale gas risks to flood global LNG markets, Asian buyers are hesitant to enter long-term offtake agreements from Chevron's Gorgon LNG export terminal in Australia - one of the world's most expensive projects.

Aug 26 (LNGJ) - Japanese shipbuilder Imabari is building two LNG tankers, equipped with the GTT-pioneered the Mark III Flex containment system pioneered and a new MEGI propulsion system.

The vessels, to be operated by Spain's Elcano, are scheduled for delivery in 2017.

Aug 26 (LNGJ) - Russia's state-owned Rosneft is gearing up to take control of Pechora LNG - a new $4 billion liquefaction project planned in the Barents Sea that is projected to produce 2.6 million tonnes a year of LNG by 2018.

Output could be boosted to as much as 10 mtpa in the following decade, dependent on sustained demand growth in Asia and a recovery in Europe.