Petroleum Brunei Takes 3% Share of Petronas’s Pacific NorthWest LNG Output
Posted on Dec 9, 2013 in Canada & Mexico, LNG Exports, Markets and Competition | Comments Off on Petroleum Brunei Takes 3% Share of Petronas’s Pacific NorthWest LNG Output
The Globe and Mail reports that Petroleum Brunei has agreed to take a 3% share of the LNG output from Petronas’s Pacific NorthWest LNG terminal project at Prince Rupert, British Columbia for a 20-year period. After the deal is completed, Petronas’s share of the Pacific NorthWest LNG project will be reduced to 87% and Japan Petroleum Exploration will have a 10%...
Corpus Christi Liquefaction Signs Agreement with Pertamina for LNG Supplies
Posted on Dec 5, 2013 in LNG Exports, Markets and Competition | Comments Off on Corpus Christi Liquefaction Signs Agreement with Pertamina for LNG Supplies
Cheniere Energy subsidiary Corpus Christi Liquefaction LLC signed an LNG purchase and sale agreement (SPA) with Indonesian state-owned PT Pertamina (Persero) under which Pertamina will purchase approximately 0.8 million tonnes per year of LNG from the Corpus Christi Liquefaction Project near Corpus Christi, Texas. Pertamina will purchase the LNG on an FOB basis for a purchase price...
Industrial Group Says Domestic Gas Prices Up 36% Since First LNG Export Terminal Approved
Posted on Dec 3, 2013 in Federal Regulation, LNG Exports, Markets and Competition | Comments Off on Industrial Group Says Domestic Gas Prices Up 36% Since First LNG Export Terminal Approved
The Industrial Energy Consumers of America (IECA) issued a press release stating that while the cause of the price rise is undetermined, U.S. Energy Information Administration statistics show that domestic natural gas prices have risen 35.6% since August 2012, when the first LNG export terminal was approved. IECA states that U.S. Department of Energy (DOE) analyses of LNG export...
Magnolia LNG Signs Term Sheet with LNG Holdings Corp.
Posted on Nov 26, 2013 in LNG Exports, Markets and Competition | Comments Off on Magnolia LNG Signs Term Sheet with LNG Holdings Corp.
Magnolia LNG, L.L.C. (Magnolia) announced that it has signed a Tolling Term Sheet with LNG Holdings Corp. providing for negotiation of a proposed 20-year Tolling Agreement covering 1.7 million tonnes per year of LNG production from Magnolia’s proposed LNG export terminal at Lake Charles, La. Under the proposed Tolling Agreement, LNG Holdings will be responsible for delivery of gas to...
Unveiling of B.C. LNG Tax Program Pushed Back to February 2014
Posted on Nov 20, 2013 in Canada & Mexico, Markets and Competition | Comments Off on Unveiling of B.C. LNG Tax Program Pushed Back to February 2014
The Financial Post reports that the details of British Columbia’s (B.C.) proposed tax program on LNG output has been pushed back from this month to February 2014. According to Rich Coleman, B.C.’s minister of natural gas development, the tax is on LNG output at the plant level, so it also will apply to gas moving to the Canadian West Coast from Alberta and...
New Study Analyzes State-by-State Economic Gains From LNG Exports
Posted on Nov 14, 2013 in LNG Exports, Markets and Competition | Comments Off on New Study Analyzes State-by-State Economic Gains From LNG Exports
A new study prepared by ICF International for the American Petroleum Institute provides a state-by-state analysis of economic gains based on three LNG export scenarios. The study predicts that by 2035 LNG exports could contribute as much as $10 to $31 billion per state to the economies of natural gas-producing states, such as Texas, Louisiana, and Pennsylvania. According to the study,...