LNG vessel and floating storage and regasification unit (FSRU) operator Excelerate Energy Inc. is wading into offering fuel trading with a long-term agreement for offtake from Venture Global Inc.’s Plaquemines LNG. Texas-based Excelerate has inked a 20-year, 0.7 million metric ton/year sales and purchase agreement (SPA) for delivery on a free-on-board basis. Plaquemines LNG was…
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New Fortress Says First LNG Exports From Mexico Coming This Summer
New Fortress Energy Inc. (NFE) is expecting to achieve first LNG from a floating liquefied natural gas production unit offshore Altamira, Mexico, in about 120 days, management said Tuesday. Construction is about 80% complete on the first of two “Fast LNG” or FLNG liquefiers to be deployed at Altamira. Each would boast a liquefaction capacity…
Calgary’s Pembina Pipeline Eyeing Cedar LNG FID by Third Quarter
Pembina Pipeline Corp. is aiming to sanction the Cedar LNG export project proposed for Kitimat, British Columbia (BC), by the third quarter of this year, according to management. Calgary-based Pembina, a natural gas and liquids midstream player with assets mainly in Western Canada, is developing the 3 million metric tons/year liquefied natural gas project in…
Uniper’s LNG-Powered Truck Fueling Network Taps RNG as Economic Solution
A unit of Germany’s Uniper SE has secured a supply agreement for LNG made with renewable natural gas (RNG) for its heavy vehicle fueling network, calling imports of the super-chilled fuel “no longer competitive” for decarbonizing the transportation industry. German firm Revis Bioenergy GmbH plans to begin supplying Uniper’s Liqvis GmbH later this year with…
European Natural Gas Prices Sputter as Spring Nears, but Upside Risks Remain – LNG Recap
European natural gas prices sank Monday, giving up last week’s gains as the March Title Transfer Facility (TTF) contract rolled off the board with the continent amply supplied as spring nears. The March and April contracts finished below $15/MMBtu as the week got underway. European gas storage inventories are at about 62% of capacity, compared…
BP, Kosmos Explore 2.5-3 MMty Second Phase for West Africa LNG Export Project
BP plc and its partners in the Greater Tortue Ahmeyim (GTA) natural gas field are evaluating a second phase expansion for the floating LNG production project offshore West Africa as first phase construction progresses. BP, Kosmos Energy Ltd., Senegal’s Petrosen and Mauritania’s Société Mauritanienne des Hydrocarbures have agreed to evaluate a 2.5-3 million metric ton/year…
Natural Gas Forward Prices Show Dichotomy of West Coast Gains, Discounts Elsewhere
A dichotomy of steep gains for the West and hefty losses everywhere else played out in natural gas forwards markets during the Feb. 16-22 trading period, NGI’s Forward Look data show. This dynamic largely reflected the latest weather maps from Maxar’s Weather Desk, which showed shades of blue colder-than-normal temperature deviations blanketing much of the…
Venture Global Inks 20-Year LNG Offtake Deals with China Gas
Venture Global LNG Inc. has inked a pair of long-term sales and purchase agreements for two of its developing export projects in Louisiana with China Gas Holdings Ltd. The company has agreed to supply China Gas with 2 million metric tons/year (mmty) of liquefied natural gas for 20 years starting in 2027. Terms of price…
Older LNG Vessels’ Value Rising as Newbuild Prices Soar
As the price of new LNG vessels increases, and as shipyard slots dwindle, the value of older tankers is also on the rise. Bermuda-based Cool Company Ltd. (CoolCo) disclosed earlier this month that it plans to sell the 10-year old tri-fuel diesel electric (TFDE) Golar Seal for $184 million. The buyer, Höegh LNG Holdings Ltd.,…
Australia Natural Gas Producers Balk as East Coast LNG Export Diversion Seen Possible
Australian LNG producers are concerned about diverting exports to meet natural gas shortages in the country’s east coast market under recently proposed changes to the Australian Domestic Gas Security Mechanism (ADGSM). The latest changes to the ADSGM would allow the federal government to activate the mechanism and impose liquefied natural gas export restrictions more frequently.…