Venture Global LNG Announces Purchase Deal with Shell NA LNG
Posted on Feb 9, 2016 in Liquefaction, LNG Exports, Markets and Competition | Comments Off on Venture Global LNG Announces Purchase Deal with Shell NA LNG
Venture Global LNG, Inc. announced that its subsidiary, Venture Global Calcasieu Pass, LLC (Venture Global Calcasieu Pass), has entered into a 20-year sales and purchase agreement (SPA) with Shell NA LNG LLC (Shell), under which Shell has agreed to purchase one million tonnes per annum of LNG from Venture Global Calcasieu Pass’s proposed LNG export facility on the Calcasieu Ship...
LNG Canada Delays FID Until Late 2016
Posted on Feb 4, 2016 in Canada & Mexico, Liquefaction, LNG Exports, Markets and Competition | Comments Off on LNG Canada Delays FID Until Late 2016
The Globe and Mail reports that due to market conditions, LNG Canada has delayed a final investment decision (FID) on its proposed liquefaction and LNG export terminal at Kitimat, British Columbia until later in the year. An FID was expected in Spring 2016. LNG Canada is a joint venture of Shell Canada Energy (50%), an affiliate of Royal Dutch Shell plc, and affiliates of PetroChina...
Magnolia LNG Extends Closing Date for Meridian LNG Tolling Agreement
Posted on Feb 1, 2016 in Liquefaction, LNG Exports, Markets and Competition | Comments Off on Magnolia LNG Extends Closing Date for Meridian LNG Tolling Agreement
Today, Magnolia LNG, LLC announced that Magnolia and Meridian LNG Holdings Corp (Meridian LNG) have agreed to extend the financial close date condition precedent for Magnolia LNG from June 30, 2016 to December 31, 2016. In 2015, Magnolia announced that it had entered into a tolling agreement with Meridian LNG for firm capacity rights for up to 2 million tonnes of LNG/year at Magnolia...
Cheniere Seeks to Refinance LNG Import Terminal
Posted on Jan 26, 2016 in Financing, Liquefaction, LNG Exports, Markets and Competition, Regas Terminals & Capacity | Comments Off on Cheniere Seeks to Refinance LNG Import Terminal
Bloomberg reports that Cheniere Energy is seeking to refinance $2.1 billion it owes on its Sabine Pass LNG import terminal facilities in Cameron Parish, La. The import terminal came on-line in 2008-2009, just as American shale gas supplies entering the U.S. gas market caused gas prices to drop to a 16-year low of $1.68/MMBtu. According to the report, the Sabine Pass LNG terminal has...
New Report Finds Renewable Energy Competitive to LNG for Overseas Power Generation
Posted on Jan 19, 2016 in LNG Exports, Markets and Competition | Comments Off on New Report Finds Renewable Energy Competitive to LNG for Overseas Power Generation
A new report from the Brattle Group finds that due to declining costs, renewable energy sources are becoming increasingly competitive to LNG for power generation in overseas markets. According to the press release, the report suggests that as a result, the predicted glut of global LNG supplies may be more than a temporary condition. ...
Panama Canal Authority Issues RFP to Study Feasibility of LNG Facilities on Panama Canal Property
Posted on Jan 19, 2016 in Federal Regulation, Markets and Competition | Comments Off on Panama Canal Authority Issues RFP to Study Feasibility of LNG Facilities on Panama Canal Property
The U.S. Trade and Development Agency is sponsoring a grant to the Panama Canal Authority (ACP) for the development of a Feasibility Study to assess and plan the development of “LNG-related infrastructure to capitalize on the projected increase in LNG tanker traffic resulting from the expansion of the Panama Canal.” The ACP is soliciting U.S. firms for offers to prepare the...