Tag Archives: LNG

Is Boone Pickens Wrong On Natural Gas?

Bloomberg is attempting to make the case that Tesla’s CEO Elon Musk and cheap gasoline prices have driven natural gas away as an economically viable vehicle fuel. But that does not seem to be the case if you look at the role compressed natural gas (CNG) and liquefied natural gas (LNG) has been playing on a global level. Pickens is cited in the article for making the business case for natural gas vehicles going back to 2008 with the oil price spike and skyrocketing pump prices of gasoline and diesel. His arguments focused on the cheaper, […]

Russia May Break Gazprom Monopoly To Stimulate LNG

A Russian Security Council commission has recommended breaking down Gazprom’s gas export monopoly in a bid to boost the competitiveness of Russia’s gas, Russian daily Vedomosti reported after seeing the protocol from a July 6 meeting of the commission. The global rise in LNG as a replacement for natural gas and oil is a threat to Russia’s energy security, the commission concluded, and Moscow needs to take urgent action to turn Russia into a major exporter of LNG. The global structure of fuel demand is changing, the protocol said, and new LNG projects are spurring […]

Nigeria To Play A Major Role In Turkey’s Energy Sector

Nigeria is one of Turkey’s largest trading partners in Africa, and trade remains an integral component of Nigeria – Turkey bilateral relations. In 2014, trade between the two countries reached approximately US $2.5 billion. However, this figure fell to US $1.5 billion in 2015 and approximately US $1 billion in 2016, largely due to a drop in global oil and gas prices. Over the past several decades, Nigeria has become one of Turkey’s most important providers of liquid natural gas (LNG), currently accounting for more than 20 percent of LNG imports. However, this trade relationship […]

Canadian LNG Project Cancelled

Pacific NorthWest LNG today announced that the LNG project in Port Edward, British Columbia will not proceed as previously planned. The decision was made by PETRONAS and its partners after a careful and total review of the project amid changes in market conditions. “We are disappointed that the extremely challenging environment brought about by the prolonged depressed prices and shifts in the energy industry have led us to this decision,” Anuar Taib, Chairman of the Pacific NorthWest LNG Board, said. “PETRONAS and its North Montney Joint Venture partners remain committed to developing their significant natural gas assets in […]

NextDecade Signs MoU for LNG Terminal in Ireland

NextDecade, LLC has signed a Memorandum of Understanding with the Port of Cork Company to advance a joint business development opportunity in Ireland for a new Floating Storage and Regasification Unit (FSRU) and associated LNG import terminal infrastructure. NextDecade and the Port of Cork will hold a joint public event at the Port of Cork on August 2, 2017, to highlight the MOU and its potential benefits for Ireland and its regional partners. NextDecade CEO Kathleen Eisbrenner and Flex LNG CEO Jonathan Cook will meet with port officials and discuss the opportunity with local industry […]

Perry Touts Energy Exports, Awaits Study on Electric Grid

WASHINGTON (AP) — The Trump administration is pushing for increased exports of natural gas and other energy sources as it seeks U.S. “energy dominance” in the global market, Energy Secretary Rick Perry said Tuesday. He and President Donald Trump have offered a “comforting” message to energy companies seeking to export liquefied natural gas, or LNG at huge terminals in Texas, Louisiana and other states, Perry said: “If you meet the rules, here’s your permit.” Perry also said he has not seen a widely expected department study into the reliability of the electric grid. A draft […]

Poland Seeks To Become EU’s Gas Hub

There’s no holding Poland back. A little over a month after it began to divest itself of reliance on Russian gas by taking ownership of the first U.S. shipment, the country’s president has declared that he wants to make Poland an energy hub capable of distributing gas across the EU. Speaking after a meeting with the U.S. president, Andrzej Duda told reporters: “Can we become a hub through which American LNG gas will flow to central Europe? I am convinced the answer is yes.” Since 1996 Poland has been getting the vast majority of its […]

Alaska LNG MoU Signed

On June 28, 2017, the Alaska Gasline Development Corporation (AGDC) signed a memorandum of understanding (MOU) with the Korea Gas Corporation (KOGAS) in Washington, D.C. The MOU establishes a framework for AGDC and KOGAS to cooperate in several areas of Alaska LNG, including project investment, development, operations, and other arrangements. Alaska LNG is an integrated gas pipeline and LNG infrastructure project that will provide a direct and reliable link between the vast proven, conventional, natural gas resource on Alaska’s North Slope with growing LNG markets in Asia. “The MOU reached yesterday, between AGDC and KOGAS, lays […]

Companies Sign MoU for Lake Charles LNG Liquefaction Project

Dallas-based Energy Transfer Partners announced today its subsidiary, Lake Charles LNG Export Company, LLC, has entered into a Memorandum of Understanding with South Korea-based Korea Gas Corporation (KOGAS) to study the feasibility of joint participation in the Lake Charles LNG Liquefaction Project. Houston-based BG LNG Services, LLC, a subsidiary of Shell, is also participating in the study of the project under consideration. The Lake Charles LNG facility in Lake Charles, LA is owned 60 percent by Energy Transfer Equity and 40 percent by Energy Transfer Partners. The liquefaction project under consideration by the parties will […]

Wood Group Wins FEED Contract for Greece LNG Project

Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System offshore Greece. The project, which consists of developing a floating liquefied natural gas receiving, storage and regasification unit, will create a new natural gas gateway to the markets of south eastern and central Europe. Wood Group’s subsea team will perform the design and engineering definition of the Alexandroupolis receiving, storage and regasification unit and its subsystems. “This contract brings our global expertise and technical solutions to a new client and we look forward […]

Cheniere, KOGAS Commence 20-year LNG Contract

Cheniere Energy Inc. and Korea Gas Corporation (KOGAS) have commenced their 20-year Sales and Purchase Agreement (SPA) to supply U.S.-sourced LNG to KOGAS from the Sabine Pass Liquefaction facility in Louisiana. The SPA, which was originally signed in January of 2012, officially began on June 1, 2017, with the first cargo loading the following day. Under the terms of the SPA, Cheniere will sell and make available for delivery to KOGAS approximately 3.86 million tons of LNG per year, which represents more than 10 percent of South Korea’s total annual demand. “KOGAS is an ideal commercial partner […]

After Poland, Lithuania Becomes U.S. LNG Buyer

Seeking to diversify its gas imports away from Russia’s giant Gazprom, Lithuania’s state-held gas trader Lietuvos Duju Tiekimas said on Monday that it had signed a deal with Cheniere Marketing International to buy LNG directly from the U.S., adding to the growing list of customers of America’s LNG cargoes. The Lithuanian company expects to receive the first LNG cargo delivery in the second half of August. “It will be the first time Lithuania imports gas from the U.S. We opted for delivery from Cheniere after evaluating several offers for LNG,” a spokesman for Lietuvos Duju Tiekimas told […]

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