Global LNG News Flash on 16.09.2019

Good morning and welcome to the LNG Marketplace
Weekly News Flash. Here is the latest news we have selected for
you from all over the media. According to the press release of DEFA, The
first stage of DEFA’s open competition for submitting an Expression of Interest for the
supply of liquefied natural gas (LNG) has now been completed. 25 suppliers are eligible for the next stages
of bidding and negotiations to supply LNG to DEFA. The press release lists all the participant
companies. For the time being, you can find this press
release on LinkedIn under the hashtags: #gastech, #cyprus & #naturalgas. According to Kallanish Energy, the privately-held
Australian company Western Gas is seeking a partner to help deliver its $3.5 billion
mid-scale LNG project offshore Western Australia. Goldman Sachs has been appointed as financial
adviser. India’s H-Energy has announced plans to
develop an LNG regasification and reloading terminal at Kakinada, potentially developing
the port into an LNG hub to cater to demand on the country’s east coast and in neighbouring
countries. The company has signed a port services agreement
with Kakinada Seaports Ltd and its longer-term plans include the development of LNG reloading
and breakbulk facilities. This piece of news we found on Hellenic Shipping
News. According to the same website, the commodity
trader Gunvor comes up top in Pakistan LNG tender, submitting the lowest bids to supply
LNG for six cargo delivery slots out of the 10 cargoes sought by Pakistan LNG. DXT Commodities, Vitol, a unit of PetroChina
and Socar Trading submitted the lowest bids for the remaining four delivery slots. Qatar Petroleum subsidiary Qatar Terminal
Limited and Fluxys LNG have signed a long-term LNG services agreement for the “LNG unloading
services” at Zeebrugge terminal. Under the agreement, European customers will
have total access to reliable LNG supplies from Qatar for the next 25 years. Qatar is the only gas producing country with
long-term contracts for imports of LNG into North West Europe. More you can read on Hellenic Shipping News
and Tank Terminals. Cameron LNG in Louisiana operated be Sempra
Energy, has declared force majeure due to technical problems at the export terminal
but the impact on volumes was not immediately clear. The export terminal is one of three new facilities
to have come onstream this year, boosting U.S. LNG production and prompting a wave of
imports into Europe. This piece of news we found on Reuters. We found also a few exciting news from the
financial part of the LNG trade – and a lot is going on! Asian spot prices for LNG tracked a spike
in the European gas market, rising for the first time in three weeks. Traders quoted various levels for Asian prices
as they moved sharply in reaction to developments on European gas market. European prices jumped on a requirement for
Russian producer Gazprom to cut gas flows via the Opal pipeline into Germany, an announcement
of problems with at least five French nuclear reactors and news of the Dutch Groningen gas
field halting production eight years earlier than initially planned. The October contract on the Dutch market,
a benchmark for LNG arriving in Europe, has risen by more than $1 since the end of last
week. More you can read on Reuters. Total Holdings has completed an $800 million
deal to take over Toshiba Corp.’s stake in the Freeport LNG liquefaction/export facility
in Texas, Kallanish Energy reports. That deal will commence upon commercial operation
of Train 3 at Freeport LNG, perhaps in May 2020. Total would be the “newest addition to Freeport
LNG’s suite of world-class liquefaction customers. Asian buyers are negotiating some of the world’s
cheapest long-term LNG contracts to date amid a supply glut that has depressed spot prices
below half the cost of legacy contracts. The turnaround has occurred as an expansion
in global supplies – particularly from projects in the US and Australia – has outpaced disappointing
Asian demand growth. More on
Qatar Petroleum has shortlisted several Big Oil firms willing to buy a stake in Qatar’s
mega project to expand its LNG export capacity, and will look at what the majors could offer
in exchange for a piece of the project. Qatar has announced plans to increase its
LNG production capacity by 43 percent in competing with Australia and the United States over
the next few years for the world’s top LNG exporter title. The new export capacity includes expansion
projects set to be completed in 2024. This piece of news we found on
Royal Vopak bought a 49% stake in Colombia’s LNG import facility, in Cartagena. The company did not disclose how much it paid
for the holding. The remaining 51% in Sociedad Portuaria el
Cayao (SPEC) is held by privately held Promigas. This is another growth step in the LNG portfolio
of VOPAK, as we read on Energy According to MarineLink, Sovcomflot and NYK
Line signed a new $176 million non-recourse credit facility for eight years with three
leading international banks. The facility will be used towards refinancing
two ice-class LNG carriers servicing the Sakhalin-2 project, Grand Aniva and her sister ship Grand
Elena. That’s it for this week. Tune in next week for more news and until
then – thanks for tuning in.

Posts created 10158

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top