China Oil and Gas Group to Purchase Calgary-based Baccalieu Energy
Posted on Jun 23, 2014 in Canada & Mexico, LNG Exports, Markets and Competition | Comments Off on China Oil and Gas Group to Purchase Calgary-based Baccalieu Energy
China Oil and Gas Group Ltd., a natural gas distributor and operator of LNG facilities in China, announced that it will buy Calgary-based Baccalieu Energy, Inc. for CAD$236 million. Baccalieu operates in west central Alberta, Canada concentrating on unconventional oil and gas operations in a formation known as the...
GDF Suez and Santos Terminate Floating LNG Project
Posted on Jun 19, 2014 in Liquefaction, Markets and Competition, Vessel Transportation | Comments Off on GDF Suez and Santos Terminate Floating LNG Project
On Thursday, GDF Suez SA and Santos Ltd. announced that they have terminated their plans for a floating LNG project. The multibillion dollar Bonaparte LNG project was intended to use new technology to liquefy natural gas from a vessel at sea. Santos and Suez stated that the project no longer complied with the companies’ commercial needs and that they would consider alternative...
BP to Sign $20 Billion LNG Supply Deal with China’s CNOOC
Posted on Jun 17, 2014 in LNG Exports, Markets and Competition | Comments Off on BP to Sign $20 Billion LNG Supply Deal with China’s CNOOC
BP is scheduled to sign a $20 billion deal to supply China National Offshore Oil Corporation (CNOOC) with LNG over a span of 20 years. BP is said to be likely to source much of the LNG for the deal from its contracted capacity at the Freeport LNG liquefaction facility near Freeport, Texas. Reuters reports the deal will increase China’s LNG intake by at least 1.5 million tonnes each...
Article Discusses Henry Hub-Linked LNG Pricing
Posted on Jun 6, 2014 in LNG Exports, Markets and Competition | Comments Off on Article Discusses Henry Hub-Linked LNG Pricing
– An article in Bloomberg discusses recent offers by India Gail Ltd. to sell U.S. LNG supplies at prices indexed to Henry Hub gas prices, rather than at traditional oil-linked prices, which are subject to crude oil price spikes. According to the article, LNG purchases based on Henry Hub prices will be cheaper than LNG indexed to oil...
Gas Natural Fenosa to Purchase Corpus Christi LNG Supplies at Henry Hub-Linked Prices
Posted on Jun 3, 2014 in LNG Exports, Markets and Competition | Comments Off on Gas Natural Fenosa to Purchase Corpus Christi LNG Supplies at Henry Hub-Linked Prices
Cheniere Energy subsidiary Corpus Christi Liquefaction, LLC (CCL) and Gas Natural Fenosa LNG SL (GNF) signed an agreement for GNF to purchase 1.5 million tonnes per annum (mtpa) of LNG over 20 years from Train 2 of CCL’s proposed LNG export terminal near Corpus Christi, Texas. Train 2 is expected to begin operations in 2019. According to the press release, GNF will purchase the LNG...
Iberdrola Signs Agreement to Purchase LNG from Cheniere’s Corpus Christi LNG Terminal at Henry Hub-Linked Prices
Posted on May 30, 2014 in LNG Exports, Markets and Competition | Comments Off on Iberdrola Signs Agreement to Purchase LNG from Cheniere’s Corpus Christi LNG Terminal at Henry Hub-Linked Prices
Cheniere Energy subsidiary Corpus Christi Liquefaction, LLC (CCL) and Iberdrola, S.A. (Iberdrola) have entered into an agreement for Iberdrola to purchase 0.4 million tonnes per annum (mtpa) of LNG over 20 years from Train 1 of CCL’s proposed LNG export terminal near Corpus Christi, Texas. The purchase volume will increase to 0.8 mtpa of LNG upon the commencement of operations of...