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Royal Dutch Shell Plc has secured a 15-year contract to supply liquefied natural gas (LNG) to Sinolam Smarter Energy LNG Power Co owned 441-MW power plant. The facility is currently under construction in Panama. The power plant will utilise roughly 400,000 tonnes of LNG per year. Shell will commence delivery to the facility from 2020.
Houston based Cheniere Energy has entered into a 15-year agreement with one of the world’s largest oil trader, Vitol Inc. Under the scope of this agreement, Cheniere will supply 700,000 tonnes of LNG to Vitol every year starting from 2018. Cheniere's Sabine Pass terminal in Louisiana increased its output and helped the United States come out as the major LNG exporter in the last two years.
World’s biggest LNG firm, Qatargas today entered into a 22-year long sale and purchase agreement (SPA) with PetroChina’s international arm, PetroChina International Company Limited. The agreement requires Qatargas to supply China with around 3.4 million tonnes of liquefied natural gas (LNG) per annum. LNG will be supplied from the the Qatargas 2 project, which is a joint venture between ExxonMobil, Qatar Petroleum and Total.
The liquefied natural gas (LNG)-powered truck will undergo test runs to understand its safety and economic feasibility, informed the state-run Korea Gas Corp. (KOGAS) on Friday. This truck has been developed in cooperation with KOGAS and Daewoo Tata Commercial Vehicle Company, nation’s second-largest truck manufacturer. This 400 horsepower LNG powered-truck will have an engine by Italy’s Fiat Powertrain Technologies and it will be built on Tata Daewoo frame.
A 20-year agreement has been signed between Venture Global LNG and Repsol SA. Under the scope of this agreement, Venture will supply 1 million tonnes p.a. of LNG to Repsol from the Calcasieu Pass LNG export facility. LNG will be bought by Repsol on a free on board (FOB) basis. According to Venture Global, the commercial operation date the 10 million tonnes per annum Calcasieu Pass is expected in 2022.
After 13 LNG carriers stopped at the Montoir LNG import and trans-shipment terminal, it has set new LNG transshipment records in August. The terminal is located in the French Atlantic port of St Nazaire. Also, the first three transhipments were finished in one week which began on 15 August. This year, Montoir has completed 10 LNG transhipments, which is the best in numbers than any other European terminals.
Trinidad and Tobago is planning to continue to globally ship super-chilled natural gas, and Venezuela is to help the Carribean Island. Venezuelan President Nicolas Maduro and Trinidad and Tobago Prime Minister Keith Rowley inked a deal where Trinidad will buy gas from Venezuela’s prolific Dragon Field. The agreement will ensure 150 MMcf of gas supply every day. The deal is said to revive Trinidad’s oil and gas industry.
Sinopec Corp has joined hands with Zhejiang Energy Group Co Ltd for LNG terminal in east China. It is an agreement of 3 million tonne-per-year whose first phase is set for operation at end-2021. 4 tanks with a capacity of 200,000 cubic meters of LNG each, a berth of capacity 30,000 cubic meters to 266,000 cubic meters and a 26-km pipeline, these are included in the project.
The US Treasury and Energy department has shown its cooperation towards the growth of the energy sector of Panama by signing the MoU with the North American country. Under this, the two countries will focus more on Panama’s energy and infrastructure development and diversify its energy sources. It will help in the economic growth of Panama and expand its role as an LNG hub for Central America and the Caribbean.
Hoegh LNG of Norway has won a tender to supply a floating LNG terminal to a consortium for Australia's east coast. The Australian Industrial Energy is looking to import LNG to the eastern coast from 2020. On Monday, the consortium informed that it has signed an agreement after which it can rightfully rent a floating storage and regasification units (FSRU) of Hoegh LNG. Australian Industrial Energy group includes Japan's JERA and Marubeni Corp.
European ship-owner, Celsius Tankers has awarded Samsung Heavy Industries with the contract for two 180, 000 cubic meters LNG carriers. The Celsius LNG carriers will be the first carriers in the world to possess Samsung’s air lubrication system, SAVER Air. The SAVER Air reduces friction by spraying air at the bottom of the ship to form a layer of air between the hull surface and seawater, saving loads of energy.
South Korea’s major shipbuilder, Samsung Heavy Industries Co., informed that it has successfully grabbed a deal worth $370 million. Reportedly, the company will be building 2 liquefied natural gas carriers for a European shipping company. The capacity of the carriers will be 180, 000 cubic meters and are set to be delivered to Celsius Tankers by December 2020. So far this year, the company has received orders for building 31 vessels.
Australia's largest E&P Company, Woodside Petroleum Ltd reported a 6% rise in its half-year earnings backed by the effective performance of company’s Wheatstone and Pluto LNG projects. In the present financial year, i.e. 2018, the company expects the production to lie between 87 mmboe to 91 mmboe. Furthermore, the Wheatstone project is likely to add approximately 13 million barrels of oil equivalent to the annual output after becoming fully operational.
Malaysia’s oil giant, Petronas has released its second-quarter earnings wherein the company has reported a net profit, a jump to RM537.08 million from RM425.93 million. Company’s new LNG regasification terminal in Pengerang contributed to the revenue growth of 15.7%. According to the statement issued by the company, it is positive that the group’s performance will be stable in the near future.
The European Union is urging the United States that if Washington wants the 28-nation bloc to buy more, then it has to cut red tape and make its LNG export rules simpler. Also, to import US LNG, the EU has agreed to build more terminals. The US President and Commission President decided last month on achieving zero tariffs and subsidies on non-automotive industrial goods.
Japanese joint venture, JERA has entered into a Memorandum of Agreement with ADNOC LNG for the purchase of upto eight cargoes of LNG. The deal term is for 3 years, ending in 2021. JERA said in a statement that the deal will help the venture to respond to LNG demand fluctuations. The Japanse JV has in the recent times struck a lot of deals for LNG purchase.
The state oil firm of China, CNOOC informed yesterday that the company is expanding its liquefied natural gas receiving terminal in the southern province of Hainan. The oil major is looking to boost sales of gas carried by trucks or smaller tankers, ahead of a demand surge in winter. The expansion will increase the terminal's annual handling capacity of 1.32 million tonnes and is expected to be completed by October end.
Taiwan-based CPC Corp has informed that gas production has started at the offshore well of the Ichthys LNG project in Australia. CPC holds a 2.625% stake in the project, which makes it the third largest stakeholder after Inpex Corp and Total SA. The project is estimated to produce upto 8.9 million tonnes of LNG and 1.6 million tonnes of LPG annually, alongwith 36.5 million barrels of condensate.