LNG

UK energy company, Centrica Energy, part of the Centrica Group, has signed a long-term natural gas purchase agreement with Canadian producer, Peyto Exploration & Development Corp.

Under the agreement, Peyto will deliver 50,000 MMBtu of natural gas per day to Centrica Energy over a 10-year period from 2029, equivalent to around five LNG cargoes annually. 

Deliveries will be made at the NIT ‘AECO’ hub operated by TC Energy in Alberta, Canada.

The gas will be priced against TTF, the European gas market benchmark.

By linking feed gas pricing to European benchmarks and maintaining flexibility across global markets, the deal enhances Centrica Energy’s ability to manage market exposure and optimise its LNG portfolio, the company said. 

In March, due to the Middle East conflict, Oman overtook Qatar as India’s leading supplier of LNG with a market share of 30%.

Since March, the effective closure of the Strait of Hormuz has resulted in a big drop in LNG exports, but LNG charter rates are failing to reflect the current market fundamentals.

US-based United Energy Corp has acquired Alkane Modus Vis and assets from Alkane Midstream for about $31 mill.

US major LNG developer, Venture Global’s wholly-owned subsidiary, Venture Global LNG, has priced $1.125 bill aggregate principal amount of its 6.375% senior secured notes, due 2034 and $1.125 bill aggregate principal amount of its 6.625% senior secured notes, due 2036.

UK based class society and consultancy, Lloyd’s Register (LR) has joined forces with HD Korea Shipbuilding & Offshore Engineering (KSOE) and HD Hyundai Heavy Industries (HHI) to develop a new LNGC design. 

LNG Alliance’s 4.2 mill tonnes per annum Amigo LNG project has obtained the remaining major federal permits for its Mexican Sonora terminal.

Together with previously secured Mexican export approvals and US Department of Energy (DoE)  authorisations, the project now has full regulatory cover to export LNG.

However, it will still need to extend its non-FTA export deadline of December, 2027.

Train 1 is now fully subscribed with 4.35 mill tonnes per annum contracted by five offtakers.

The terminal will receive Permian gas through the Trans-Pecos, Ojinaga-El Encino, El Encino-Topolobampo, and Guaymas-El Oro pipeline chain for liquefaction, before being exported.

Russian LNG exports rose by 11.5% between January and May this year, compared to the same period last year, to 14.5 mill tonnes.

Canada’s Frontera Energy Corp is developing an LNG terminal at the Colombian port of Puerto Bahia, Cartagena.

INEOS Energy has signed an LNG supply agreement with Marubeni Corp for delivery into Asian markets.