BP Signs LNG Supply Deal with KOGAS
Posted on Sep 30, 2019
Reuters reports that BP has signed a 15-year LNG supply deal with South Korea’s state-run natural gas company, Korea Gas Corporation (“KOGAS”). The deal could be extended for three years at BP’s option and is estimated to be worth up to $9.61 billion if extended to 18 years. Under the deal, BP will supply 1.58 million tons of LNG per annum beginning in 2025. BP will supply the LNG either from the Freeport LNG terminal located in Texas or the proposed Venture Global LNG Calcasieu Pass terminal in Louisiana....
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DOE Releases Update to LNG Greenhouse Gas Study
Posted on Sep 30, 2019
The U.S. Department of Energy’s (DOE) Office of Fossil Energy has released for public comment the report Life Cycle Greenhouse Gas Perspective on Exporting Liquefied Natural Gas from the United States: 2019 Update (LCA GHG Update). The LCA GHG Update is an update to DOE’s 2014 LCA GHG Report. As explained by DOE, “[t]he purpose of the LCA GHG Update is to provide additional information to the public and to inform DOE’s LNG export decisions with information about the life cycle greenhouse gas emissions of U.S. LNG exports for use in electric power generation,” and does so by comparing...
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West Delta LNG Files Deepwater Port Application
Posted on Sep 30, 2019
West Delta LNG LLC filed an application with the Maritime Administration and the U.S. Coast Guard for the licensing of a deepwater port to be located in the Gulf of Mexico, off the coast of Louisiana. The deepwater port and marine components would consist of an LNG production and storage unit, a loading platform and marine berth unit and support facilities. The onshore components would consist of the proposed Venice Pretreatment Plant in Plaquemines Parish, La., which facility would connect to the offshore components by a single pipeline to transfer liquefaction-ready gas to the deepwater...
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Magnolia LNG to Supply Proposed Vietnamese Power Plant
Posted on Sep 18, 2019
Magnolia LNG’s parent company, Liquefied Natural Gas Limited, and Delta Offshore Energy (DeltaOE) have announced an alliance with the Bac Lieu Provincial Government in Vietnam to deliver an LNG-to-power project for the province. Magnolia LNG is the developer of a proposed liquefaction and LNG export terminal at Lake Charles, La. The DeltaOE led power project includes the construction and operation of an LNG import terminal, 3,200-megawatt combined-cycle power plant and delivery of power generation to the Bac Lieu Province. The integrated project is expected to commence operations in 2023...
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Cheniere Energy Signs Gas Supply Deals Linked to Asian Spot LNG Prices
Posted on Sep 18, 2019
Reuters reports that Cheniere Energy subsidiaries Corpus Christi Liquefaction and Cheniere Corpus Christi Liquefaction Stage III have signed long-term gas supply deals with shale producer EOG Resources, with some of the gas tied to Asian spot LNG prices. This is the second instance of Cheniere Energy buying gas linked to spot LNG prices. According to the report, the total quantity will start at 140,000 MMBtu/day, or about 0.85 million tonnes/year, and increase to 440,000 MMBtu/day. The LNG produced from the initial 140,000 MMBtu/day of gas supply will be owned and marketed by Cheniere...
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Lake Charles LNG Requests 2025 In-Service Deadline
Posted on Sep 6, 2019
Lake Charles LNG has filed a request with FERC for an extension of time, to December 16, 2025, to construct and place into service its proposed liquefaction and export terminal facilities at its existing LNG import terminal at Lake Charles, La. FERC’s order authorizing the construction and operation of the liquefaction and export terminal facilities imposed a December 16, 2020 deadline to place the facilities into service. The requests states that a final investment decision could occur as early as the end of 2020....
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CME Group to Launch U.S. LNG Futures Contract
Posted on Sep 4, 2019
Reuters reports that CME Group will launch a futures contract on October 14, 2019, for LNG that is physically delivered at Cheniere Energy’s Sabine Pass export terminal in Cameron Parish, La. The contract will have 24 delivery months, “meaning a market participant in October could buy an August 2020 LNG cargo and trade it up until the delivery date.”
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