World

Industry Briefs

Another sign of the shifting world energy market caused by the shale gas revolution is a $7 billion contract announced this week that directs the export of coal — no longer needed in the United States — to India from Kentucky and West Virginia. The 25-year agreement was lauded by Kentucky Gov. Steve Beshear, who called it “an example of a great new market for Kentucky resources.” Kentucky coal companies will export about 9 million tons of coal per year to India’s Abhijeet Group. The coal is being purchased from Kentucky-based affiliates of FJS Energy LLC. A supply glut of natural gas, much of it from shale, has driven gas prices lower than coal this year and intensified the environmental push toward coal-to-gas fuel switching for power generation (see Daily GPI, Aug. 16; Aug. 6). The 25-year contract is an indication that coal producers see stiff competition from natural gas continuing for their product in the United States.

August 17, 2012

Excelerate Inks Deal to Expand Floating LNG Regasification Fleet

Looking to expand its ability to offload and convert liquefied natural gas (LNG) from ships to pipeline-grade natural gas around the world, Excelerate Energy has reached a shipbuilding option agreement with Daewoo Shipbuilding and Marine Engineering (DSME) for the delivery of up to eight floating storage and regasification units (FSRU) between early 2015 and early 2017.

August 9, 2012

Demand Drives LNG Heat Exchanger Capacity Expansion

Demand for heat exchangers to be used in liquefied natural gas (LNG) projects around the world has prompted Air Products to construct a second heat exchanger manufacturing facility at a new location in Manatee County, FL, the company said.

July 30, 2012

First Cleared LNG Swap Traded

Monday (July 16) saw the world’s first cleared liquefied natural gas (LNG) swap traded. The contract settles on the ICIS East Asia Index (EAX) for physical LNG. The deal was done for September at $13.90/MMBtu and brokered by Tradition over the CME Direct trading platform and has been cleared by CME Europe.

July 17, 2012

Shell Crowned Biggest Global Company

Royal Dutch Shell plc vaulted into the No. 1 spot for global companies in the world based on revenues, moving up from the No. 2 spot a year, according to Fortune magazine’s Global 500 list.

July 10, 2012

Moody’s: Slower E&P Growth through 2013

Fading oil and natural gas liquids (NGL) prices, butting into subdued world economic conditions, point to slower exploration and production (E&P) growth for the next two years, according to Moody’s Investors Service.

July 9, 2012

Moody’s: Slower E&P Growth through 2013

Fading oil and natural gas liquids (NGL) prices, butting into subdued world economic conditions, point to slower exploration and production (E&P) growth for the next two years, according to Moody’s Investors Service.

July 3, 2012

Catch a Wave: Unmanned Marine Fleet in Works for Energy Industry

Schlumberger Ltd. and Liquid Robotics Inc. have partnered to develop services for the oil and natural gas industry using the world’s first wave-powered autonomous marine vehicles capable of being deployed in the offshore for up to a year without a crew, fuel or a dedicated support vessel.

June 25, 2012

Market-Driven LNG Exports Said an All-Around Plus

Exporting liquefied domestic natural gas to world markets would have its downsides, but they would be outweighed by economic and other benefits, according to an analysis by a senior fellow at the Council on Foreign Relations. The United States should approve export applications but let gas markets decide whether they actually exports actually occur, according to the analysis.

June 18, 2012

Market-Driven LNG Exports an All-Around Plus

Exporting liquefied domestic natural gas to world markets would have its downsides, but they would be outweighed by economic and other benefits, according to an analysis by a senior fellow at the Council on Foreign Relations. The United States should approve export applications but let gas markets decide whether they actually exports actually occur, according to his analysis.

June 14, 2012