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Canada signs its first binding supply agreement with China
July 19, 2019

Canada signs its first binding supply agreement with China

Canada has signed its first binding supply agreement with China. A small-scale Canadian liquefied natural gas (LNG) plant, FortisBC has joined hands with Top Speed Energy Corp and will supply 53,000 tonnes from its Tilbury facility for two years. Though this deal is small, the nation expects much larger deals with operators of bigger new terminals.

McDermott and Cameron LNG announce an agreement
July 6, 2019
Source: World Oil

McDermott and Cameron LNG announce an agreement

McDermott and its JV member Chiyoda have reached an agreement with Cameron LNG. This is regarding the construction of McDermott's LNG liquefaction project in Louisiana. Senior Group VP said, "In the last few months, the joint venture project team has made tremendous progress, including first liquid and first cargo from Train 1". In the first and second quarter of 2020, initial production is expected from Trains 2 and 3.

Anadarko approves $20 billion LNG project in Mozambique
June 19, 2019

Anadarko approves $20 billion LNG project in Mozambique

The largest single energy project in Arica received approval recently. The energy firm Anadarko agreed for the construction of a $20 billion gas liquefaction and export terminal in Mozambique. Mozambique falls in the category of the poorest nations and so this project is expected to transform various segments of the nation. According to its government, this project might create more than 5,000 direct jobs and 45,000 indirect jobs.

Inpex inks HOA with Indonesia for $20 Billion Indonesian LNG Project
June 17, 2019
Source: Bloomberg

Inpex inks HOA with Indonesia for $20 Billion Indonesian LNG Project

Japanese oil firm, Inpex Corp. has reached an agreement with Indonesia for the $20 billion Abadi liquefied natural gas project. In an interaction with reporters at a G-20 energy and environment meeting in Japan, Inpex President informed that the heads of agreement contains a contract extension for Inpex to operate the Masela field until 2055. Inpex holds a 65% stake in Abadi field where Royal Dutch Shell is partner.

Total to close its $1 bn deal with Adani
June 14, 2019

Total to close its $1 bn deal with Adani

Total might acquire a 30% stake in India's city gas distribution (CGD) company Adani Gas. The deal would be will be worth over $800 million. According to Adani's spokesperson, “As a part of the company’s business growth strategy, we continue to evaluate various viable options”. It is after a strategic partnership in October aimed at developing various regasification LNG terminals, that both the companies have decided on this deal.

Saudi extends its offer to join Novatek's LNG project
June 11, 2019

Saudi extends its offer to join Novatek's LNG project

Energy Minister of Saudi Arabia, Khalid al-Falih has informed that the energy supermajor, Saudi Aramco has extended its offer to join Novatek's project. Novatek is a Russian gas producer who is currently working on its Arctic LNG 2 project. Moreover, Faliah also said that the firm was studying about Rosneft and Gazprom's LNG projects. And possibilities are that Saudi might invest in Russian petrochemical company Sibur.

NOVATEK creates JV with Sinopec and Gazprombank
June 6, 2019
Source: World Oil

NOVATEK creates JV with Sinopec and Gazprombank

Heads of Agreement has been signed between NOVATEK, Sinopec and Gazprombank. This joint venture will focus on marketing LNG and natural gas to end-customers in China. The decision of forming JV was taken during the official visit of the President of the People’s Republic of China to the Russian Federation. NOVATEK's Chairman said, "This represents another step in implementing our long-term strategy across the entire value chain”.

Toshiba sells its Freeport stakes to Total for $815mn
June 3, 2019
Source: World Oil

Toshiba sells its Freeport stakes to Total for $815mn

Toshiba Corp. will sell its over 20-year liquefaction rights at the Freeport LNG project to Total. The company will pay $815 million to the French major and is expecting that the deal will be finalized by March 2020. This acquisition is in line with Total's plan to become one of the world’s biggest LNG players in the future. Total presently is the second-largest private global LNG player.

Imports of LNG to Australia appear “highly realistic”
May 31, 2019

Imports of LNG to Australia appear “highly realistic”

As the world’s biggest LNG exporter struggles with a looming gas shortage, imports of liquefied natural gas to Australia now appear "highly realistic", says the U.S. energy giant Exxon Mobil. According to the experts, the industry needs at least $6.9 billion to meet longer term gas demand. Further, this would bring down high prices which are affecting many manufacturers.

Venture Global brings in $1.3b for LNG export facility
May 29, 2019

Venture Global brings in $1.3b for LNG export facility

Venture Global LNG has inked definitive agreements with New York-based Stonepeak Infrastructure for the Calcasieu Pass LNG export facility. Under the terms of the agreement, Stonepeak will entirely provide a $1.3 billion equity investment in the 10 MTPY export facility in Louisiana. Venture Global’s Calcasieu Pass facility will leverage BHGE’s comprehensive process solution that employs highly efficient mid-scale, modular, factory-fabricated liquefaction trains.

Bechtel receives EPC contract from NextDecade
May 29, 2019
Source: World Oil

Bechtel receives EPC contract from NextDecade

Bechtel has been awarded an engineering, procurement, and construction (EPC) contract by NextDecade. The contract pertains to the first phase of the Rio Grande LNG project. There will be three liquefication trains, two 180,000 m3 storage tanks, and two marine berths in this project. Bechtel is global project management, engineering, and construction company which is making an effort to provide clean energy to the world.

Aramco agrees to buy US LNG from Sempra's project
May 22, 2019

Aramco agrees to buy US LNG from Sempra's project

Oil giant Aramco has given a green signal to buy U.S. liquefied natural gas from Sempra Energy's Port Arthur project in Texas. According to the sources, the terms of the deals are still unclear and it is doubtful if Aramco will take an equity stake in the project. Saudi Aramco has also been looking at the gas assets in Russia, Australia and Africa.

Petronet LNG registers lower profits for 4Q2019
May 17, 2019
Source: The Hindu

Petronet LNG registers lower profits for 4Q2019

The Indian energy firm, Petronet LNG has reported a 15.87% fall in profits for 4Q2019, from the corresponding quarter in the previous year. Petronet LNG registered a ₹440-crore in profits in the last quarter of the financial year 2018-2019. The company has attributed lower profits to the inventory loss of ₹119 crore. The company will distribute a 45% dividend to shareholders.

Santos to buy stakes in PRL 3
May 16, 2019

Santos to buy stakes in PRL 3

Santos has decided to buy 14.3% stakes in the Petroleum Retention License 3 Joint Venture. It will buy the stakes for $187 million. The effort to be a part of the PNG LNG project is in line with Santos' expansion plan. ExxonMobil being the major stakeholder of this venture has agreed to sell its holding in the P'nyang gas field in Papua New Guinea to Santos.

Gazprom to go with Linde and Shell's technology for Baltic project
May 16, 2019

Gazprom to go with Linde and Shell's technology for Baltic project

Baltic LNG project of Gazprom is under progress and the Russian gas producer was looking for advanced technology to be used in it. Now, the firm has decided to go with the technology made by Linde or Royal Dutch Shell. "We've looked at the efficiency of both technologies and they basically have the same indicators in terms of workability. The rest is a question of negotiation", said Gazprom's board member.

Louisiana's export terminal operated by Cameron starts LNG production
May 15, 2019

Louisiana's export terminal operated by Cameron starts LNG production

The Cameron LNG export terminal in Louisiana has started the production of LNG, informed the energy major Total. The firm has also said that the initial exports are due in the coming weeks. Total's Chairman said, "With Cameron LNG start-up, we will achieve our target of being integrated along the gas value chain in the US since we are already a gas producer in the country".

KBR secures EPC contract for Freeport LNG
May 14, 2019

KBR secures EPC contract for Freeport LNG

American EPC giant, KBR Inc has secured an EPC contract for Train 4 at the Freeport LNG project in Texas. The expected EPC contract will require KBR to carry out engineering, procurement, construction, commissioning and start-up of the 5 mtpy LNG train and associated gas pre-treatment plant. The contract is expected to conclude within this quarter.

Anadarko inks SPA for LNG supply
May 14, 2019

Anadarko inks SPA for LNG supply

E&P major, Anadarko has entered into a sales and purchase agreement with Japan’s JERA and Taiwan’s CPC to supply 1.6 MTPA of LNG. Anadarko will deliver the requisite volume from its Mozambique Area 1 project, over a period of 17 years. The Mozambique Area 1 project is operated by Anadarko, where Mitsui E&P, ENH Rovuma Área Um, ONGC Videsh, Beas Rovuma Energy Mozambique, BPRL Ventures Mozambique and PTTEP are partners.

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