LNG Limited Finalizes Acquisition of Bear Head LNG Project Site in Nova Scotia
Posted on Aug 28, 2014 in Canada & Mexico, LNG Exports, Markets and Competition | Comments Off on LNG Limited Finalizes Acquisition of Bear Head LNG Project Site in Nova Scotia
LNG Limited (LNGL) announced that it has finalized its acquisition of Bear Head LNG Corporation, which owns an industrial site in Richmond County, Nova Scotia on which LNGL intends to develop an initial 4 million tonnes per annum LNG export project with potential for future expansion. According to the announcement, included in the acquisition are the project rights, assets and...
Apache Corporation to Sell Its Kitimat LNG Stake
Posted on Jul 31, 2014 in LNG Exports, Markets and Competition | Comments Off on Apache Corporation to Sell Its Kitimat LNG Stake
Bloomberg reports that Apache Corporation, 50% sponsor of the proposed Kitimat LNG project at Bish Cove, near Kitimat, British Columbia, intends to sell its interest in the company. Chevron Canada Ltd. owns the other 50% share. Apache’s press release on the planned sale can be found here. The report states that hedge fund Jana Partners LLC acquired a $1 billion stake in Apache and...
Tokyo Gas and Mitsui Sign Contract for Cameron LNG Supplies
Posted on Jul 24, 2014 in LNG Exports, Markets and Competition | Comments Off on Tokyo Gas and Mitsui Sign Contract for Cameron LNG Supplies
Tokyo Gas Co., Ltd. and Mitsui & Co., Ltd. have signed a contract for Tokyo Gas to purchase from Mitsui 520,000 tons of LNG per year over 20 years from the Cameron LNG terminal at a price linked to the Henry Hub gas price. According to the press release, the contract provides for more flexible destinations than LNG contracts in the...
Corpus Christi and EDF Sign 20-Year SPA
Posted on Jul 18, 2014 in LNG Exports, Markets and Competition | Comments Off on Corpus Christi and EDF Sign 20-Year SPA
Cheniere Energy, Inc. announced in a news release that its subsidiary, Corpus Christi Liquefaction, LLC, entered into a liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Électricité de France, S.A. (“EDF”). Under the SPA, EDF has agreed to purchase approximately 0.38 million tonnes per annum (“mtpa”) of LNG upon the commencement of operations of Train...
Global Infrastructure Partners Purchases Stake in Freeport LNG
Posted on Jul 15, 2014 in LNG Exports, Markets and Competition | Comments Off on Global Infrastructure Partners Purchases Stake in Freeport LNG
Global Infrastructure Partners (GIP), a U.S. based, independent global infrastructure investor, announced its decision to buy 25% of Freeport LNG Development LP for $850 million from Hastings Funds Management Ltd. of Australia. Freeport LNG is a holding company for the LNG receiving and regasification terminal near Freeport, Texas. The Freeport joint venture received approval last...
Report Questions Canada’s Preparedness for Future LNG Market
Posted on Jul 11, 2014 in Canada & Mexico, Federal Regulation, LNG Exports, Markets and Competition, Policy, Legislation and Politics | Comments Off on Report Questions Canada’s Preparedness for Future LNG Market
A report published in July 2014 by the University of Calgary, School of Public Policy says there is a serious risk of Canada losing out on a large share of the global LNG market. The market for natural gas in the Asia-Pacific region is expected to increase over 60% by 2025, and LNG is predicted to comprise almost 66% of the global gas market by 2035. These opportunities would open a...