Narrabri Gas gets go-ahead
Australian LNG plant operator Santos said it welcomed the approval by the Federal Environment Ministry of the Narrabri Gas Project in New South Wales and will now embark on a 12-18 month appraisal program ahead of a final investment decision. Adelaide-based Santos operates the Gladstone LNG plant in Queensland and has a stake in Darwin LNG and the export facility in Papua New Guinea. The Narrabri project is for coal seam gas development with around 850 wells planned.
Asian firms nominated
The France-based International Group of Liquefied Natural Gas Importers (GIIGNL), which has 86 members in 27 countries, has promoted three companies to its Executive Committee at its annual meeting. They are China National Offshore Oil Corp (CNOOC) Gas, Power and Trading, CPC Corp. of Taiwan and Indian importer Petronet LNG. “The increase with three new members from Asia reflects the growing importance of LNG imports in the region,” said the group.
Charter rates firm
Shipping charter rates for LNG carriers in the spot market remained firm in the past week as Northern Hemisphere winter market cargoes flowed. Rates were quoted at an average of between $109,000 per day and $115,000 per day West of Suez. The same levels of spot rates were also heard for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters for the most modern vessels were available for around $47,000 per day.