In this issue

 

Our Europe editor

The Norwegian Coastal Administration said it expected Cryo Shipping's LNG seaborne transport services in Northern Norway to have great value and awarded the company 1 million euros ($1.2M) in grants to establish a short-sea trading lane.

Keppel Offshore and Marine of Singapore said its US subsidiary based in the Texas port of Brownsville won a contract worth more than US$400 million from Honolulu-based Pasha Hawaii for the construction of two liquefied natural gas-fueled containerships.

Our Americas editor

Argentina's national energy company, Yacimientos Petroleiferos Fiscales (YPF), said its Chief Executive Ricardo Darre had resigned for personal reasons and has been replaced by a six-man executive committee as it embarks on the development of its huge shale-gas reserves to replace LNG imports.

Our Middle East editor

KBR, the US engineering and construction company, is continuing with its success in winning more oil and gas and LNG contracts by being nominated for work on a key sour gas project in Abu Dhabi in the United Arab Emirates.

Australian exploration and production company Far Ltd., which is in dispute with LNG producer Woodside Petroleum over a licence stake offshore Senegal, said it received confirmation of increases in equity for other West African licences it has shares in offshore Guinea-Bissau.

Sovcomflot, the Russian shipping company specializing in energy transportation and with a growing LNG fleet, including the delivery of the world’s first ice-breaking LNG carrier, posted higher gross first-half freight and charter revenue and lower net profit in challenging conditions.

Our North America editor in New York

LNG importer Mexico is now offering limited transparency in natural gas pricing showing that its domestic gas was at $4.10 per million British thermal units compared with $2.92 per MMBtu in the US and around $5.70 per MMBtu in Europe.

Commonwealth LNG, a US export project in Louisiana, has initiated its pre-filing environmental review process with the Federal Energy Regulatory Commission for a liquefaction plant in Louisiana with 9 million tonnes per annum of capacity.

Our Middle-East editor

Delek Group of Israel, the main shareholder with Noble Energy of the US of the Leviathan and Tamar natural gas fields in the Eastern Mediterranean, boosted second-quarter revenues by over 14 percent with sales to Israel and Jordan that will eventually lessen Jordanian LNG requirements. 

Norwegian firm’s income from joint ventures, freight revenues and management have risen

Our Europe editor

Hoegh LNG, the Norwegian import terminal developer and fleet operator, said it continued to be the largest owner in the floating storage and regasification unit market with seven FSRUs in operation and three units under construction as it prepared for three new contracts in Ghana, Pakistan and Chile.

Our Asia-Pacific editor

Pavilion Gas and Singapore LNG Corp. have signed an agreement for storage and cargo reloading services for the next two years at the SLNG import terminal on the city state’s Jurong Island.

Port Fourchon LNG, the US export venture owned by a subsidiary of Hong Kong-based Energy World Corp. and planned for Lafourche Parish in Louisiana, has received a letter from US regulators giving permission to start its pre-filing environmental review process.

Our Europe editor

Flogas Britain, one of the UK’s main suppliers of liquefied natural gas by truck, said it partnered with Associated British Ports to bunker a ship with LNG for the first time in the UK at the port of Immingham in northeast England.

Japanese liquefied natural gas imports rebounded in July as a fall in shipments from other Asian countries was offset by more Middle East cargoes as well as Russian and US deliveries.

News Nudges

Texas waterway to upgrade

The Corpus Christi Ship Channel on the Texas Gulf Coast, which could become an important LNG shipping destination for the second wave of US exports, is planning a $327 million upgrade. The project will be run by the Port of Corpus Christi Authority Commission and the US Army Corps of Engineers and will involve the deepening and widening of the Channel. The project plans to widen the Channel to 530 feet, with additional barge shelves, to allow for two-way vessel and barge traffic. The Channel will also be deepened to 54 feet (Mean Lower Low Water) to allow for the safe passage of deep-draft vessels.


Cheniere to raise $1.5bln

Cheniere Energy, operator of the Sabine Pass export plant in Louisiana and the developer of more liquefaction Trains, has increased its offering of Senior Notes, a first-call form of debt security, from $1 billion to $1.5Bln. The notes will bear interest at a rate of 5.25 percent per annum and will mature in October 2025. The closing of the debt offering is expected on September 18. Cheniere said it intended to use the net proceeds to pay down a portion of some of its outstanding term loans.


Two cargoes for Mexico

The 141,000 cubic metres capacity “LNG Adamawa” will unload a shipment on September 28 at the Mexican Altamira import terminal on the Gulf of Mexico coast from the Nigerian LNG plant on Bonny Island. The 145,700 cubic metres capacity carrier “Tangguh Jaya” carrier is scheduled to deliver an Indonesian cargo on October 5 to the Costa Azul terminal, owned by US utility Sempra Energy, and located on the Pacific Coast of Mexico, near the town of Ensenada.