The Marcellus Shale is still powering natural gas production increases, as reported by the Energy Information Administration (EIA), even though the agency continues to lump main Marcellus state Pennsylvania into the “other” category in its monthly production report.
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Cheniere Energy Partners LP unit Sabine Pass Liquefaction LLC and Bechtel Oil, Gas and Chemicals Inc. have entered into a lump sum turnkey contract for the engineering, procurement and construction of the third and fourth liquefaction trains to be constructed adjacent to the Sabine Pass LNG terminal in Cameron Parish, LA. The contract price is about $3.8 billion. Total expected costs for the third and fourth trains before financing are estimated to be between $4.5 billion and $5 billion.Sabine Liquefaction intends to give Bechtel a notice to proceed upon achieving financing and a final investment decision. Construction for the third and fourth trains is expected to begin in the first half of 2013. Sabine Liquefaction commenced full construction for the first two liquefaction trains in August. Sabine Liquefaction recently announced that it is developing a fifth and sixth liquefaction train at the project and has entered into a sale and purchase agreement with Total Gas & Power North America Inc. (see Daily GPI, Dec. 18).
CFTC Asked to Nix Physical Commodity Options from ‘Swap’ Definition
The Commodity Futures Trading Commission (CFTC) should not lump commodity options that are intended to and can only be settled physically in the same category as “swaps,” said an 11-member coalition of mostly oil and gas producers in a recent plea to the agency.
CFTC Asked to Nix Physical Commodity Options from ‘Swap’ Definition
The Commodity Futures Trading Commission (CFTC) should not lump commodity options that are intended to and can only be settled physically in the same category as “swaps,” said a coalition of mostly oil and gas producers in a recent plea to the agency.
Golden Pass LNG Awards $1B Engineering, Construction Contract
Golden Pass LNG LLC awarded a $1 billion lump-sum turnkey contract to Chicago Bridge & Iron Co. (CB&I) for construction of the 2 Bcf/d Golden Pass liquefied natural gas (LNG) import facility near Sabine Pass, TX. The terminal, which will deliver regasified LNG to an ExxonMobil refinery and to the U.S. gas pipeline grid, is expected to be completed in 2009 when it will begin receiving LNG from Qatar.
Gas Analysts: Storage Could Fall to Critically Low Levels
If you got a lump of coal in your stocking this Christmas,rejoice. It could be the only thing left to heat your home by theend of winter. There is a growing consensus among gas marketexperts that there will be a shortage by March if the weather staysnormal or colder than normal.
LADWP Enlists Reliant For Gas Supply
A $1.2 million discount paid up front in a lump sum and theprospects of picking up energy trading insights from an experiencednational trader are what prompted the nation’s largest municipalutility to sign a one-year gas agreement worth about $25 millionwith Houston-based Reliant Energy Services Inc. last month.