The BP “Energy Outlook 2023” is forecasting an increase in LNG trading in the near term, with the outlook becoming more uncertain after 2030 while additional future LNG export volumes will be dominated by projects under construction or planned in the US and the Middle East.
Argentina put itself again at the forefront with its LNG export ambitions as established South American producers are stagnating. The prize seems to be the lucrative European market but economic issues remain. Markets Editor Alexander Wilk has more.
Our December data highlight continued strong export growth whilst also pointing to ever-strengthening demand in Europe, our Markets Editor Alexander Wilk reports.
A gradual tightening of permitted carbon emissions pose challenges for steam powered LNGCs, writes Rene Laursen, Director – Fuels & Technology, ABS Global Sustainability, Denmark.
As the world’s LNG producers and developers look to ‘fast track’ onshore facilities to cater for the surge in demand, modular systems are being introduced onto the market. Technical Editor Ian Cochran reports.
Authorities at the Port of Antwerp-Bruges envisage LNG playing an increasingly central role as the port transitions to become a truly multi-fuel site, with major investments reshaping much of the hinterland. Fuelling Editor Malcolm Ramsay has more.
ARGENTINA said it was prepared to follow through with a pledge to remove investment uncertainties for foreign energy companies, especially in the construction of liquefaction natural gas export plants as the South American nation moves to develop its huge shale-gas reserves.
Feb 3 (LNGJ )- Wood Mackenzie, the UK-based energy and commodities consultancy, has been acquired by Veritas Capital, a US fund management company, for $3.1 billion in cash from Verisk, the Nasdaq-listed analytics and data company. Verisk had acquired Wood Mackenzie for $2.8Bln in 2015.
Wood Mackenzie is a leading global consultancy providing data, analytics, and insights in to the energy sector, including LNG. “This transaction best positions Verisk to expand its role as a strategic data, analytics, and technology partner to the global insurance industry,” said Lee Shavel, Verisk Chief Executive. The UK firm under Veritas ownership will be led by Mark Brinin, who has been promoted from Co-President to Chief Executive. The other Co-President Joe Levesque has been appointed as President and Chief Operating Officer.
Feb 2 (LNGJ) - Stolt-Nielsen Limited, the London-based terminals and shipping company listed on the Oslo bourse and a stakeholder in the Avenir LNG joint venture for small-scale carriers and other assets, reported increased net profits of $95.3 million versus $35.02 in the 2021 quarter and with higher quarterly revenues of $732.5M. Net profits for the full year amounted to $280.8M compared with $78.8M in 2021.
“The fourth quarter capped a stellar year, where all businesses performed well,” said Niels G. Stolt-Nielsen, Chief Executive. “The improvements seen in our markets were key, as well as our steadfast focus during recent years on implementing and delivering on our strategies for each of the businesses. Stolt Tankers’ net profit improved for the fourth consecutive quarter as chemical tanker spot rates and volumes continued to improve,” he added.
Feb 1 (LNGJ) - Tokyo Gas, the utility and LNG importer, reported a more than 72 percent increase in nine-month revenues from natural gas sales totalling 1.55 trillion yen ($11.9Bln) compared with 907.84 billion yen ($6.9Bln) in the same period of the previous year.
The utility said nine-month operating profit rose more than four-fold to 235.7Bln yen ($1.8Bln) versus 52.3Bln yen ($409M) in the prior-year period. Natural gas accounts for 60 percent of the business with other income coming from electricity sales as well as other energy and overseas activities.
Jan 31 (LNGJ) - The UK will receive its first February LNG cargo delivered by the “Minerva Amorgos”, a vessel with 174,000 cubic metres of capacity. The ship lifted the cargo on January 16 from the Sabine Pass plant in Louisiana, operated by Cheniere Energy, according to shipping data. The “Minerva Amorgos” is scheduled to berth on February 2 at the South Hook import terminal at the port of Milford Haven.
Jan 30 (LNGJ) - Leading LNG exporter QatarEnergy has completed its purchase of a 30 percent interest in exploration Blocks 4 and 9 offshore Lebanon. QatarEnergy bought its stake from the two other shareholders in the blocks, France’s TotalEnergies and Italy’s Eni. The deal was endorsed in Beirut during a ceremony attended by all the parties including Walid Fayad, the Minister of Energy and Water of Lebanon and Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and Chief Executive of QatarEnergy.
“We are very pleased to welcome QatarEnergy to our exploration acreage in Lebanon,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies. “The recent delineation of Lebanon’s maritime border with Israel has created new momentum for the exploration of its hydrocarbon potential. Along with our partners, we are committed to drilling as soon as possible in 2023 of an exploration well in Block 9,” added Pouyanné.
Jan 27 (LNGJ) - Enagás, the Spanish gas grid and LNG terminals operator, has increased its stake to 20 percent in the Trans-Adriatic Pipeline (TAP) bringing natural gas from Azerbaijan to Europe. Enagás has agreed with the Swiss energy company Axpo to purchase 4 percent of its TAP shareholding for €168 million euros ($183M) in addition to the 16 percent that the Spanish company already owns.
The new shareholding line-up in the TAP after this deal gives Enagás, 20 percent, the same as BP of the UK, the Azeri energy firm SOCAR, the Italian grid and LNG operator SNAM and the Belgian LNG and gas grid company Fluxys. The owner of the Zeebrugge terminal reached this percentage after buying 1 percent of the remaining stake held by Axpo.
Jan 26 (LNGJ) - Hokkaido Electric Power Co., the Japanese utility that receives cargoes from the US including Freeport LNG in Texas before the June closure, said nine-month power sales increased by more than 41 percent to 623.8 billion Japanese yen ($4.8Bln).
However, the company said it posted a net loss in the fiscal year to December and planned to increase electricity prices by at least 32 percent from June. The utility, which imports LNG volumes at the Ishikari import terminal, swung to a nine-month loss of 21Bln yen ($161.1 million) as fuel prices for power generation rose.
Jan 25 (LNGJ) - Matador Resources of the US has signed a deal to acquire Advance Energy Partners Holdings and natural gas and oil-producing properties and undeveloped acreage in Texas and New Mexico as assets in the LNG-producing region of the US Gulf Coast increase in value.
Matador, based in Dallas, said the transaction consisted of an initial cash payment of $1.6 billion plus additional cash considerations of $7.5 million for each month during 2023 in which the average oil price as defined in the securities purchase agreement exceeds $85 per barrel. Advance is a portfolio company of EnCap Investments L.P. The acquisition comes after HighPeak Energy, based in Fort Worth, Texas, said a potential sale of the company and its Permian Basin assets was under consideration.
Jan 24 (LNGJ) – Russia’s Gazprom said it was meeting Greek company Prometheus Gas S.A. on January 27 to consider unwinding the 50-50 joint venture set up in 1991 between Gazprom Export and Greece’s Copelouzos Group.
Gazprom said that natural gas deliveries to Prometheus Gas under a contract with Gazprom Export began in October 2016. Then in 2017 the companies signed a long-term contract for the supply of up to 1 billion cubic metres of gas annually to Greece from January 2018 to December 2027. “The three main importers of Russian natural gas in Greece are the state gas company Public Gas Corporation of Greece (DEPA), Mytilineos and Prometheus Gas,” added Gazprom.
Jan 23 (LNGJ) - Two LNG cargoes from the US and Qatar are heading this week for the UK South Hook LNG import terminal at the Port of Milford, according to shipping data. The first cargo is scheduled to arrive on January 27 on board the 174,000 cubic metres capacity vessel “Global Sealine” after being lifted on January 13 from the Sabine Pass plant in Louisiana.
The second shipment is due to arrive on January 28 on the Q-Max vessel “Mozah” with 261,990 cubic metres of capacity. The shipment was loaded on January 11 at the Ras Laffan plant in the Arabian Gulf. In another delivery from Sabine Pass, the Isle of Grain LNG terminal on the Medway River southeast of London was expecting the berthing on January 23 of the 174,100 cubic metres capacity “Kool Orca”.
Jan 20 (LNGJ) - Italy’s Societa Nazionale Metanodotti (National Pipeline Company), also known as SNAM, plans to invest €10 billion ($10.8Bln) in natural gas pipelines and LNG facilities in its revised budget through to 2026. SNAM said €6.3Bln would go on pipelines, including upgrading the Adriatic Line. A further €1.4Bln would be spent on two LNG floating storage and regasification units (FSRUs) and €1.3Bln would go on expanding and upgrading gas storage sites.
“Within a backdrop of extreme uncertainty and volatility, Snam has succeeded in guaranteeing maximum support to cope with the emergency, creating the basis for the necessary actions to tackle the near future,” said Stefano Venier, Chief Executive. “We will significantly increase investments compared to the past to strengthen our infrastructure and contribute to the country's greater energy security for the next few years and beyond,” added Venier.
Jan 19 (LNGJ) - Höegh LNG Holdings has signed a second binding 10-year charter deal with the German Federal Government for a floating storage and regasification unit (FSRU) and has allocated the vessel “Hoegh Gannet” to the contract. “The vessel ‘Hoegh Gannet’ will be deployed for the Elbehafen LNG project in Brunsbüttel and operated by Deutsche Energy Terminal GmbH,” said Höegh.
The Elbehafen LNG import project is being developed by Germany utility RWE. Another of the company’s vessels, the “Höegh Esperanza”, was allocated to the project at the North Sea port of Wilhelmshaven being operated by German utility Uniper. “We are proud to sign the second contract with the Federal Government of Germany for the new LNG import terminal in Brunsbüttel and look forward to starting operations together with RWE,” said Erik Nyheim, the President and Chief Executive of Höegh LNG.
Jan 18 (LNGJ) - Equinor, the Norwegian LNG and pipeline natural gas supplier for Europe, has made a commercial gas discovery in the Norwegian Sea with between 2 billion cubic metres and 11 Bcm of recoverable gas, or about 12.6-69.2 million barrels of oil equivalent.
Exploration wells in the Norwegian Sea were drilled by the “Deepsea Stavanger” drilling rig about 23 kilometres (14 miles) south of the previous Irpa gas discovery. Equnor’s field partners are Norway’s state-run energy body Petoro and German oil and gas company Wintershall Dea. “We will together with our partners consider a tie-back of this discovery to Irpa, for which we recently submitted a plan for development and operation,” said Grete B. Haaland, Equinor’s Vice President for Exploration and Production North.
Jan 17 (LNG) – Three LNG cargoes are heading for the UK Isle of Grain import terminal at the end of January from the US Gulf Coast as prices at the UK National Balancing Point dropped to a 17-month low of $16.70 per million British thermal units, a level last seen on September 2, 2021. The “BW Pavilion Aranda” with capacity of 173,400 cubic metres is scheduled to deliver a cargo on January 28 from the Cameron LNG plant in Louisiana and that was lifted on January 15, according to shipping data. Two other cargoes are being delivered from the Sabine Pass plant in Louisiana.
The 173,600 cubic metres capacity “Stena Crystal Sky” is scheduled to berth on January 29 at the Medway River terminal to discharge its Louisiana shipment and the third cargo heading for the Kent terminal is scheduled to arrive on January 31 onboard the “Ribero Duero Knutsen” with 173,400 cubic metres of capacity.
Jan 16 (LNGJ) - NewMed Energy, a main shareholder in the largest Israeli offshore natural gas field and a likely future LNG feed-gas supplier, said it was continuing with the process of being listed on the London Stock Exchange through a reverse takeover of UK company Capricorn Energy despite a possible last-minute hold-up. This followed a request received by Capricorn from a shareholder Palliser Capital, which holds a 6.9 percent Capricorn stake, for another shareholder meeting to be convened on the same day, February 1, 2023, as one already called to approve the NewMed-Capricorn transaction.
Palliser is calling for the replacement of most of the members of Capricorn’s board with new directors proposed by Palliser. “NewMed is continuing to promote the proposed business combination on its existing terms,” said a statement from the Israel company. “NewMed would reiterate that it continues to believe that the current terms and conditions of the proposed business combination with Capricorn are the most compelling option for all relevant stakeholders,” it added.
Jan 13 (LNGJ) - TotalEnergies said an official inauguration ceremony would be held on Saturday, January 14, for the floating LNG import terminal at the Baltic port of Lubmin and attended by German Chancellor Olaf Scholz to mark commissioning. The floating storage and regasification unit (FSRU), the “Neptune”, was chartered from TotalEnergies by the Lubmin project developers, a private company called Deutsche ReGas GmbH.
“The vessel has an annual regasification capacity of 5 billion cubic metres of gas, enough to cover about 5 percent of German demand,” said the French major. “Following Deutsche ReGas’s open season procedure in October 2022 TotalEnergies also contracted regasification capacity of 2.6 Bcm per year and began to deliver LNG from its global integrated portfolio to the Lubmin terminal,” added TotalEnergies.
Jan 12 (LNGJ) - Two LNG cargoes are scheduled to arrive in Germany before the end of January, according to shipping data. Both shipments are headed for the floating LNG import terminal at the North Sea port of Wilhelmshaven and are expected to berth on January 22 and January 30.
One shipment is scheduled to arrive on the 174,100 cubic metres capacity “Diamond Gas Victoria” after being lifted from the Cameron LNG export plant in Louisiana on January 7. A second shipment is headed for Wilhelmshaven from Angola in southwest Africa on board the 154,950 cubic metres capacity vessel “Malanje” . The Angolan shipment was lifted on January 11.
Jan 11 (LNGJ) - The UK is scheduled to receive its third LNG shipment from Angola in the past two weeks when the “Sonangol Benguela” with 160,500 cubic metres capacity berths on January 12 at the Isle of Grain LNG import terminal on the Medway River southeast of London, according to shipping data. The cargo was lifted on December 29 from the Soyo LNG export plant near the Congo River delta in southwest Africa.
Jan 10 (LNGJ) - While Northern Germany is dominating the nation’s LNG development, Southern Germany continues to make the headlines in German crude oil production. UK-based Neptune Energy has announced first oil output from its operated Rӧmerberg 6 well in the city of Speyer in the southwest state of Rhineland-Palatinate. Initial production tests indicate flow rates of up to 1,800 barrels of oil equivalent per day.
“Römerberg 6 is the ninth production well on the field first discovered in 2003 and is expected to increase Neptune’s production in the Rhine Valley to around 3,700 barrels of oil equivalent per day,” said Neptune. “We are committed to further developing the Römerberg oil field and to increasing production capacity over the coming years,” said Andreas Scheck, Neptune’s Managing Director in Germany.
Jan 9 (LNG) - Mitsui OSK Lines (MOL), MOL Ferry Co., Japan Petroleum Exploration (Japex) and Hokkaido Gas have signed two separate agreements between MOL and Japex and between MOL and the utility Hokkaido Gas for the supply of LNG fuel to two newbuild LNG-powered ferries in each port on the Oarai-Tomakomai route operated by MOL Group company MOL Ferry.
“The LNG fuel supply is scheduled to start in 2025 when the ferries will enter service. Japex will supply LNG fuel to the ferries at the Port of Oarai in Ibaraki Prefecture and Hokkaido Gas will supply it at the Port of Tomakomai in Hokkaido through the truck-to- ship method,” they added.
Jan 6 (LNGJ) - Shell Plc has updated its earnings forecast for Integrated Gas and the other divisions and sees lower liquefaction volumes in Australia. Shell said these lower volumes mainly reflected the longer than expected plant outage at the “Prelude FLNG” plant offshore northwest Australia and “operational issues” at the Queensland Curtis LNG export facility.
Shell’s adjusted earnings in Integrated Gas will see pre-tax depreciation of $1.2 billion to $1.6 billion. Shell added that its Trading and Optimisation earnings in the fourth quarter were “expected to be significantly higher” compared with the third quarter of 2022. In the Upstream division production was expected to be between 1,825 and 1,925 kboe/d.
Jan 5 (LNGJ) - Occidental Petroleum Corp., whose main shareholders include US investor Warren Buffett, said it had paid off debts after also completing a $3 billion share repurchase program. “During fiscal year 2022, Occidental repaid over $10.5 billion of debt, including over $1.1Bln in the fourth quarter, reducing the face value of its debt to below $18Bln,” said the company.
Occidental added that the December winter storm in the US affected production. “While normal operations have resumed, average Permian Basin and Rockies production in the fourth quarter is expected to be impacted by a combined 10,000 barrels equivalent per day. Occidental also holds stakes in Algerian oil and natural gas fields.
Jan 4 (LNGJ) - The “LNG Sakura” carrier with 177,000 cubic metres of capacity is heading for the UK South Hook import terminal at the port of Milford Haven and will berth on January 11 with a shipment from the Sabine Pass plant in Louisiana.
The US cargo was lifted on December 19 from the Louisiana facility and will arrive in the UK as the National Balancing Point gas market price is at its lowest since June 14, 2022, when it hit $18.75 per million British thermal units compared with the current price on January 4 of $20.55 per MMBtu.
Jan 3 (LNGJ) - The Turkish Minister of Energy and Natural Resources Fatih Donmez has held talks with Bulgarian Energy Minister Rossen Hristov on the European Union nation receiving regasified LNG supplies from Turkey.
The talks covered negotiating to reserve a capacity of 1 billion cubic metres per annum from one or more of Turkey’s four LNG import facilities and for the volumes to be transferred by pipeline to the Bulgarian border by the Turkish Petroleum Pipeline Corp. (BOTAS) network.
Jan 2 (LNGJ) - The UK is scheduled to receive its second LNG shipment from Angola in the past week when the “Sonangol Etosha” with 160,500 cubic metres capacity berths on January 2 at the Isle of Grain LNG import terminal on the Medway River southeast of London, according to shipping data. The cargo was lifted on December 19 from the Soyo LNG export plant near the Congo River delta in southwest Africa.
Jan 1 (LNGJ) - The 176,300 cubic metres capacity carrier “Castillo de Caldelas” is scheduled to deliver a US cargo on January 8 to the UK South Hook LNG import terminal at the port of Milford Haven, according to shipping data,
The shipment was arriving as the UK National Balancing Point price was last at the equivalent of $25.40 per million British thermal units, which is well down on the year-ago price on December 31, 2021, of almost $30 per MMBtu. The US cargo was lifted on December 22 from the Sabine Pass plant in Louisiana, owned and operated by Cheniere Energy.
Dec 30 (LNGJ) - The 174,000 cubic metres Maltese-flagged vessel “La Seine” is scheduled to deliver a cargo on January 6 to the UK South Hook import terminal at the Port of Milford Haven, according to shipping data. The cargo was lifted on December 24 from the Sabine Pass export facility in Louisiana.
Dec 29 (LNGJ) - Another US cargo is heading for the UK in early January. The 174,000 cubic metres French-flagged vessel “LNG Enterprise” is scheduled to deliver a cargo on January 4 to the UK South Hook import terminal at the Port of Milford Haven, according to shipping data. The cargo was lifted on December 17 from the Sabine Pass export facility in Louisiana operated by Cheniere Energy.
Dec 28 (LNGJ) - The 154,950 cubic metres capacity carrier “Cubal” was discharging a cargo from Angola on December 28 at the Isle of Grain LNG import terminal on the Medway River southeast of London, according to shipping data. The cargo was lifted on December 8 from the Soyo LNG export plant near the Congo River delta in southwest Africa.
Dec 27 (LNGJ) - Malaysian energy company Petronas said it reached a positive final investment decision for a nearshore liquefied natural gas production facility in the state of Sabah on the north of the island of Borneo. “The project will be located near the Sipitang Oil and Gas Industrial Park and was expected to produce 2 million tonnes per annum of LNG when it comes onstream in the second half of 2027,” said a statement.
Dec 26 (LNG) - The US Sabine Pass plant in Louisiana, operated by the largest US LNG exporter Cheniere Energy, is scheduled to deliver two LNG cargoes to the UK, including the first shipment of 2023, according to shipping data.
The LNG carrier “Nohshu Maru” with capacity 177,300 cubic metres is scheduled to discharge a cargo on December 30 from Sabine Pass plant at the UK South Hook terminal in the Welsh port of Milford Haven. Then on January 1, the “LNG Sakura”, with 177,000 cubic metres of capacity, will deliver a shipment to South Hook lifted on December 19 from the Louisiana facility.
Dec 23 (LNGJ) - Santos, the largest shareholder in the Papua New Guinea LNG project operated by ExxonMobil, has extended its pre-emptive rights period for PNG company Kumul Petroleum Holdings to acquire a 5 percent interest from Santos in PNG LNG for an asset value of US$1.4 billion.
“Kumul has advised Santos it has now extended the period in which the offer will remain open until 30 April 2023,” said Santos. The offer was previously open for acceptance until 31st of December 2022.
Dec 22 (LNGJ) – The UK continues to receive a steady stream of LNG deliveries. The Bahamas-flagged LNG carrier “Megara” is scheduled to berth on December 28 at the UK Dragon import terminal at port of Milford Haven and carrying a cargo from Peru, according to shipping data.
The 173,550 cubic metres capacity vessel lifted the cargo on November 25 from the Pampa Melchorita export plant on the Pacific Coast of Peru.
Dec 21 (LNGJ) - Italian energy company Eni has made a new natural gas discovery offshore Cyprus in the growing gas hub of the East Mediterranean. The find was in the Zeus-1 well drilled in Block 6 and lcoated 162 kilometres (101 miles) off the Cypriot coastline in water depths of 2,300 metres. The block is held on a 50-50 basis between Eni and France’s TotalEnergies.
“Zeus-1 is the third consecutive discovery in Block 6. It follows Cronos-1 and Calypso-1 and confirms the promising outlook for the area,” said Eni. The gas in place associated to this reservoir is preliminarily estimated at between 2 trillion cubic feet and 3 Tcf.
Dec 21 (LNGJ) – Three LNG carriers are lining up to deliver US cargoes to the two UK import terminals at the Welsh port of Milford Haven over the Christmas holidays. The “Hellas Athina” with 174,100 cubic metres of capacity is scheduled to discharge a cargo on December 25 at the South Hook terminal. It was lifted on December 5 from the US Corpus Christi export plant in Texas.
The 174,000 cubic metres capacity vessel “GasLog Gladstone” will then deliver a shipment on December 26 to the Dragon terminal at the Welsh port from the US Elba Island plant near Savannah in Georgia. Another US delivery is scheduled for South Hook on December 28 on board the 154,950 cubic metres capacity carrier “Solaris”. It was loaded on December 14 at the Cameron plant on the US Gulf Coast.
Dec 20 (LNGJ) - Swiss company Burckhardt Compression, a specialist provider of LNG sector equipment and energy industry technology, said it had already passed the one billion Swiss francs mark in the fiscal year order intake for the first time in its history. Burckhardt had previously recorded a 57 percent increase in orders in the fiscal first half.
Burckhardt said it continued to win large orders for applications in LNG shipping, petrochemicals and solar panels. “We have been aiming to reach the one-billion-order-intake mark for years and we have now achieved this,” said Fabrice Billard, Chief Executive of Burckhardt. “I would like to thank our customers for their trust and our teams for their strong engagement,” stated the CEO.
Dec 19 (LNGJ) - The 174,100 cubic metres carrier “Vivit Americas LNG” is scheduled to deliver a US cargo on December 23 to the UK South Hook terminal at the Port of Milord Haven, according to shipping data. The cargo was lifted on December 9 from the Calcasieu Pass export plant near Lake Charles in Louisiana.
Dec 16 (LNGJ) - FNB Gas, the German Association of Gas Transmission System Operators, said its members started the consultation process on December 16 for the Gas Network Development Plan 2022-2032. “The new LNG-plus supply security variants take into account the far-reaching changes in the energy supply situation,” said FNB Gas.
“Measures to provide the necessary transport capacities are being implemented at full speed by the TSOs. The first grid connections for LNG terminals will be completed by the end of 2022,” it added. “The TSOs are working to adapt the transmission system to the changed geopolitical and energy industry framework conditions as quickly as possible and to continue to ensure safe gas transportation,” stated FNB Gas.
Dec 15 (LNGJ) - Höegh LNG Holdings said it signed a binding 10-year time charter contract with the German Federal Ministry for Economic Affairs and Climate Action. The Norwegian shipping company added that its floating storage and regasification unit (FSRU) “Höegh Esperanza” had been allocated to the contract.
The company said the vessel would be located at the North Sea port of Wilhelmshaven and be operated by German utility Uniper acting as agent on behalf of the charterer. “We are very pleased and honoured to be signing the time charter contract with the Federal Government of Germany and look forward to working in close collaboration with Uniper in Wilhelmshaven,” said Erik Nyheim, Höegh LNG’s President and Chief Executive.
Dec 15 (LNGJ) - The Malta-flagged LNG carrier “Qogir” with capacity of 174,000 cubic metres is scheduled to deliver a US cargo on December 20 to the UK South Hook import terminal at the Port of Milford Haven, according to shipping data. The cargo was lifted on December 8 from the Cameron export plant in Louisiana.
Dec 14 (LNGJ) - The 139,760 cubic metres capacity carrier “Arctic Discoverer” berthed on December 14 at the UK Isle of Grain LNG import terminal, located southeast of London in the county of Kent and operated by a unit of National Grid plc. The shipment was lifted from the Equinor-operated export plant at Hammerfest in northern Norway.
Dec 13 (LNGJ) - New Fortress Energy, the New York-based LNG projects developer, said it expected the business to generate more than $11 billion of additional liquidity over the next three years and more cash would be returned to shareholders.
“Our business is now generating significant, stable, and growing cash, which we believe affords us the ability to both retain capital necessary to grow and return excess capital to shareholders in the form of meaningful dividends,” said Wes Edens, Chairman and Chief Executive of NFE. “We are fortunate to have a strong balance sheet and the liquidity we believe is necessary to execute our strategy and achieve our goals, matching long-term LNG supply with long-term power demand around the world,” added Edens, who also cited investments in floating LNG facilities.
Dec 12 (LNGJ) - Three LNG cargoes are heading for the UK LNG port of Milford Haven this week from Qatar and the US. The Q-Max carrier “Al Samriya” with 258,100 cubic metres of capacity is scheduled to berth on December 16 at Milford Haven’s South Hook terminal after arriving from Ras Laffan.
The 174,100 cubic metres capacity ship “Hellas Diana” is due to discharge a cargo at South Hook on December 18 from the Cameron LNG plant in Louisiana, according to shipping data. Another shipment is due on the same day at the Dragon import terminal on board the 174,000 cubic metres capacity “BW Magnolia”. The cargo was lifted on November 28 from the Calcasieu Pass plant in Louisiana.
Dec 9 (LNGJ) - CNH Industrial N.V., the Italian-American multinational corporation, said its New Holland Agriculture brand had debuted the world’s first LNG-powered tractor in cooperation with UK-based Bennamann.
Bennamann’s patented non-venting cryogenic storage tanks to keep the methane as a liquid at -162°C and enabled the production of a new source of clean power for the New Holland T7 Methane Power LNG tractor. “Furthermore, this technology enables LNG to be transported, similar to diesel, to wherever it is required, meaning farms which do not have the ability to produce LNG on-site from waste can still benefit from its advantages, as well as enabling flexible in-field refuelling,” said CNH.
Dec 9 (LNGJ) - Chart Industries, the US LNG and industrial gas equipment-maker, continued its series of debt and share offerings to fund the previously announced acquisition of UK engineering firm Howden. Chart priced its offering of $1.46 billion of 7.500-percent senior secured notes due 2030 at an issue price of 98.661 percent and $510 million of 9.500-percent unsecured notes due in 2031 at an issue price of 97.949 percent.
Chart said the offering was expected to close on December 22, 2022, subject to customary closing conditions. “The Notes will be fully and unconditionally guaranteed, jointly and severally, by each of Chart’s wholly owned domestic subsidiaries that guarantee its senior secured credit facilities,” said the Atlanta, Georgia-based company.
Dec 8 (LNGJ) - Three LNG cargoes will boost the UK’s natural gas supplies in the next week amid colder weather and record winter season prices. The 164,000 cubic metres capacity carrier “Maran Gas Alexandria” was discharging a cargo on December 8 at the UK Isle of Grain import terminal on the Medway River in Kent. The cargo was loaded at the Cameron plant in Louisiana while two other US shipments were heading for the UK’s South Hook terminal in Milford Haven.
The 135,425 cubic metres capacity vessel “Seapeak Catalunya” was scheduled to deliver a cargo on December 12 at the South Hook terminal from the US Sabine Pass plant. The 177,000 cubic metres capacity carrier “Marvel Heron” was then due to deliver to South Hook on December 15 from the Cameron facility in Louisiana.
Dec 7 (LNGJ) - Woodside Energy, the Western Australian LNG operator, said its project company in the Bass Strait in the southeast Australian state of Victoria signed a domestic gas sales agreement with Qenos, the nation’s only manufacturer of world-class polyethylene and polymers. Gas production from the Bass Strait currently meets about 40 percent of Australian East Coast domestic gas demand.
Woodside said it domestic gas supply deal is with the Qenos manufacturing facilities at Altona in Victoria and at Botany Bay in New South Wales. “This agreement ensures affordable gas supply to an important large-scale industrial consumer at a time of increased volatility and uncertainty in East Coast energy markets,” said Mark Abbotsford, Woodside Executive Vice President for Marketing and Trading.
Dec 6 (LNGJ) - ExxonMobil said the US major’s compensation committee had approved an increase in the annual salary of its senior executives. Darren. W. Woods, Chairman and Chief Executive, will receive $1,875,000 per year. Kathryn. A. Mikells, Senior Vice President and Chief Financial Officer, sees her raise take her salary to $1,221,000 per year. Neil A. Chapman, Senior Vice President, will get $1,199,000 per year and Jack. P. Williams, Senior Vice President, is to earn $1,210,000 per year.
The Irving, Texas-based oil and gas company and major LNG player said the all new salary levels would be effective from January 2023, according to the statement filed with the US Securities and Exchange Commission. ExxonMobil commented on the basic salary levels of its top team by saying: “All ExxonMobil executive officers are ‘at will’ employees of the Corporation and do not have employment contracts.”
Dec 5 (LNGJ) - Two LNG cargoes, one from Qatar and one from Peru, are heading for the UK with prices on the National Balancing Point natural gas market at around the winter season 2022 record level of the equivalent of $41.35 per million British thermal units.
The 260,910 cubic metres capacity Q-Max carrier “Aamira” is scheduled to discharge a cargo from Qatar on December 9 at the South Hook terminal in Milford Haven. On the same day, a shipment is due onboard the 174,000 cubic metres capacity vessel “Minerva Chios” at the Dragon terminal in Milford Haven. That cargo was lifted on November 10 from the Pampa Melchorita export plant on the Pacific Coast of Peru.
Dec 2 (LNGJ) - Russian natural gas company Gazprom's pipeline natural gas exports to regions such as the European Union tumbled by 44.5 percent, or by 76.3 billion cubic metres, to 95.2 Bcm in the first 11 months of 2022.
The average daily export by Gazprom also dropped in November alone by 3.9 percent from the previous month of October. Gazprom added that its overall gas production had declined by 19.4 percent year-on-year to 376.9Bcm. Data showed that demand for Gazprom's gas from the gas transmission system in the domestic market of Russia decreased by 5.7 percent, or by 12.8 Bcm, over the 11 months.