LNG Limited Raises A$28.2 Million For Magnolia LNG Offtake Marketing Efforts
Posted on Jun 5, 2018
Australian company Liquefied Natural Gas Limited (LNGL) has announced that it has entered into a binding subscription agreement with IDG Energy Investment Group Limited for a Share Placement which will raise gross proceeds of A$28.2 million. According to the press release, following the close of the Share Placement, IDG Energy Investment will hold a 9.9% interest in LNGL. Net proceeds from the Share Placement will be used in support of ongoing LNG offtake marketing efforts, focused on the proposed Magnolia LNG project in Lake Charles, La., and for general corporate...
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Petronas Buys 25% Share of LNG Canada Project
Posted on May 31, 2018
LNG Canada has announced that Malaysia’s state-owned oil and gas company Petronas, through its wholly-owned entity, the North Montney LNG Limited Partnership, is buying a 25% share in LNG Canada’s proposed LNG export project at Kitimat, British Columbia. Once the deal is completed, LNG Canada’s ownership interests will be Shell at 40%, Petronas at 25%, PetroChina at 15%, Diamond LNG Canada (an affiliate of Mitsubishi Corporation) at 15%, and Kogas Canada LNG at 5%. A final investment decision has not been made for the LNG Canada project. Last summer, Petronas cancelled its proposed...
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Cheniere Energy Makes Positive FID for Corpus Christi Train 3
Posted on May 25, 2018
Cheniere Energy, Inc. (Cheniere) has announced that its Board of Directors has made a positive Final Investment Decision (FID) for Train 3 at Cheniere’s Corpus Christi liquefaction project under construction in Corpus Christi, Texas. According to the press release, this represents the first FID on new liquefaction capacity in the United States since 2015. Cheniere Corpus Christi Holdings, LLC recently closed on its previously announced amended credit facilities bringing total commitments to $6.1 billion, some of which will be used to fund a portion of the costs of developing, constructing,...
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Venture Global Enters Into SPA with BP
Posted on May 25, 2018
Venture Global Calcasieu Pass, LLC has announced that it has entered into a 20-year Sales and Purchase Agreement (SPA) with BP for the supply of two million tonnes per annum of LNG from the Venture Global Calcasieu Pass LNG export facility, currently under development in Cameron Parish, La. Under the SPA, BP will purchase LNG on a free on board basis (FOB) for a 20-year term starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022....
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CFTC Releases Report on LNG Markets
Posted on May 16, 2018
Today, the U.S. Commodity Futures Trading Commission (CFTC) issued a report assessing the market impacts due to the United States transitioning from being a net importer to a net exporter of LNG in 2016. The three main takeaways of this report are: Global LNG trade growth is expected to continue with U.S. LNG exports having the most rapid growth rate and a competitive price advantage. U.S. LNG export growth may put upward pressure on U.S. natural gas prices and expose a heretofore relatively isolated North American market to global market dynamics. Burgeoning U.S. LNG exports are affecting...
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U.S. Coast Guard Approves Jordan Cove LNG Waterway Suitability
Posted on May 14, 2018
The U.S. Coast Guard has completed its review of the Waterway Suitability Assessment for Jordan Cove Energy Project’s proposed LNG terminal at Coos Bay, Ore., and recommended to FERC that the waterway be considered suitable for LNG marine traffic associated with the project.
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Venture Global LNG Signs SPA with Portugese-based Galp
Posted on May 9, 2018
Venture Global LNG has announced that its subsidiary, Venture Global Calcasieu Pass, LLC, and Portugese energy company Galp, have entered into a 20-year Sales and Purchase Agreement (SPA) for the supply of one million tonnes per annum of LNG from the proposed Venture Global Calcasieu Pass LNG export facility in Cameron Parish, La. Under the agreement, Galp will purchase the LNG on a free on board basis (FOB) for a 20-year term starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022 upon Final Investment Decision (FID)...
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