Japan’s Toho Gas Co. Ltd. struck a sale and purchase agreement with Mitsubishi Corp. unit Diamond Gas International Pte. Ltd. for liquefied natural gas (LNG) from Sempra Energy’s Cameron LNG LLC export terminal in Hackberry, LA. The agreement is for about 200,000 tons per annum at three cargos per year for 19 years beginning in 2019. The price is indexed to U.S. natural gas prices. Toho did not disclose what U.S. index was used. Cargos are to be delivered ex-ship, with the seller arranging transport. However, Toho said destination flexibility is allowed for by prior agreement between the parties. “We…strive for LNG procurement diversification, including diversification of the price-index, supply sources and types of contracts to ensure a stable energy supply to customers at a competitive price,” Toho said.
Articles from Prospects
Chevron Corp. is sitting in the sweet spot to deliver liquefied natural gas (LNG) to Asia-Pacific markets from two world-class Australian export facilities, but there’s no hurry to move an inventory of dry natural gas prospects in the U.S. onshore until conditions are right, executives said Tuesday.
The stock market price of natural gas-weighted companies spiked from late Friday through Tuesday as prospects for a more profitable product heightened when the U.S. Department of Energy (DOE) broke the log-jam and announced it was conferring a worldwide liquefied natural gas (LNG) export license on a second project (see Daily GPI, May 20).
SM Energy Co. is seeing encouraging results from a test well drilled in the Woodbine formation and has added about 10,000 net acres to its position on the northeastern edge of the Eagle Ford Shale in East Texas.
MarkWest Utica EMG LLC has clinched an agreement with Rex Energy Corp. to expand its Utica Shale midstream infrastructure.
Internal test results, couple with those of other local operators, have bolstered Mancos Shale natural gas prospects for Rapid City, SD-based Black Hills Corp., according to CEO David Emery, who offered an optimistic outlook in reporting increased profits for 4Q2012 and all of last year for the diversified utility and exploration and production (E&P) company.
Chimera Energy Corp., which had seen its stock price increase substantially this summer based on its claims of a deal with Mexico’s state-owned petroleum company, has since lost both its CEO and almost all of its stock value in the wake of concerns about the accuracy of many of the company’s statements.
Several groups of Ohio landowners looking to lease thousands of acres in the Utica Shale believe their prospects are getting brighter now that the elections are over, with oil and natural gas producers beginning to staff up their operations.
EnerVest Ltd. is taking lemons and making lemonade, CEO John Walker said Friday. The privately held Houston operator has a plethora of prospects in unconventional and conventional basins around the country, but dry gas today has soured, so the company and its publicly traded arm EV Energy Partners (EVEP) are turning to sweeter gas liquids, he told analysts.