In this issue

 

Mexico Pacific Ltd, the developer of a liquefied natural gas export project in the state of Sonora on the Mexican Pacific Coast and backed by a US equity fund, has…
Pipeline company TGS and Houston-based firm test viability of shale-gas shipments in summer LNG Journal editor Argentina is set to change from being an importer to an exporter of liquefied natural gas and…
LNG Journal editor Kinder Morgan, one of the main US pipeline operators and owner of two LNG facilities, said it was moving forward with modifying its Gulf LNG import facility…
Spanish energy company Repsol has agreed to buy 1 million tonnes per annum of LNG under a 20-year agreement signed with the Calcasieu Pass export project in Louisiana being built…
LNG Journal editor Trinidad and Tobago, the Caribbean nation that once sent most of the LNG cargoes imported into the US before the shale gas boom and still supplies one…
Gasum, the natural gas network operator in Finland and owner of the Skangas LNG distribution business, plans to invest in the construction of around 50 more natural gas filling stations…
Ophir Energy, the UK company based in London that was forced to suspend plans for LNG export projects in Equatorial Guinea and Tanzania, plans to move its head office to…
LNG Journal editor ExxonMobil has signed a preliminary accord for the sale of its 13.8 trillion cubic feet of natural gas resources in the Prudhoe Bay and Point Thomson fields…
Gazprom, the Russian pipeline natural gas supplier to Europe and owner of the Sakhalin Island LNG export plant, has proved itself to be slow moving in expanding Sakhalin with an…
LNG Journal editor RWE, one of Europe’s leading energy companies and utilities based in the German city of Essen, said it had secured “a considerable part” of the capacity from…
LNG Journal editor Mitsui OSK Lines, the Japanese shipping company and LNG fleet owner, has held a naming ceremony in South Korea for an ice-breaking LNG carrier to deliver shipments…
Japanese conglomerate Sojitz Corp. plans to expand international LNG activities with Spanish company Reganosa, owner of the Mugardos import terminal in northwest Spain. 
The average price of spot LNG contracted in August 2018 for shipment to Japan was given by the government as $10.70 per million British thermal units, an increase of 7…
LNG Journal editor Australian regulators said they would not oppose the A$13 billion (US$9.8 billion) acquisition of natural gas pipeline company APA Group by the CK Consortium of Hong Kong…

News Nudges

Vopak earnings boosted

Royal Vopak, the Dutch global storage company, reported higher annual and fourth-quarter net profits and revenues amid progress on liquefied natural gas projects. Vopak posted revenues for 2023 of €1.42 billion ($1.57Bln) compared with €1.36Bln in 2022. “We expanded our open-access LNG capacity in the Netherlands to support energy security, strengthened our leading position in India and solidified our leading industrial terminal position with investments,” Vopak said. Excluding exceptional items, Vopak reported annual net profits of €412.9 million compared with €294.4M in the previous year and fourth-quarter net profits came to €105 million versus €88.5M in the same three months of 2022. “Growth across most of the business units led to a healthy proportional occupancy of 91 percent and Ebitda of €964M which is a record result for Vopak leading to a 9 percent year-on-year increase,” said Chairman and Chief Executive Dick Richelle. “We successfully completed the divestment of three chemical terminals in Rotterdam and a chemical distribution terminal in Savannah in the United States.


Renergen LNG re-start

Renergen, South Africa’s small-scale liquefied natural gas and liquefied helium production company, has re-started LNG deliveries after a maintenance outage. The LNG plant is part of the Virginia Gas project located about 250 kilometres southwest of Johannesburg. “The delays suffered during the planned maintenance outage were primarily as a result of the scheduled maintenance period being brought forward to coincide with a helium coldbox repair,” said Renergen.


Fall in Inpex profits

Inpex Corp., the Japanese oil and gas company with LNG assets in Australia and Indonesia, reported a 6.8 percent decline in annual consolidated net sales to 2.16 trillion yen ($14.5 billion) from 2.32 trillion yen ($15.57Bln) in 2022 due to a fall in the price of crude oil. Inpex reported a 19.4 percent drop in annual net profits to 371.53 billion yen ($2.49Bln) from 461.06Bln yen ($3.09Bln) in 2022. Net sales of crude oil fell by 9.5 percent to 1.61 trillion yen ($10.78Bln) from the previous year while net sales of natural gas increased by 2 percent to 535.7 billion yen ($3.59Bln). “The average sales price of overseas natural gas decreased by $1.27, or 18.4 percent, to $5.62 per thousand feet. The average sales price of domestic natural gas in Japan increased by 9.9 percent to 90.08 yen ($0.605) per cubic metre,” said Inpex.