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Petronas Cancels B.C. LNG Terminal Project

Malaysian state oil and gas company Petronas released a statement that it and its partners “have decided not to proceed with the Pacific NorthWest LNG project at Port Edward in British Columbia [B.C.], Canada.”   According to the statement, the decision “was made after a careful and total review of the project amid changes in market conditions.”  Read more in the Reuters article....

Venture Global Secures Additional Funding

Venture Global LNG, Inc. (“Venture Global”) announced that it has raised additional capital of approximately $81.4 million in its sixth round of equity investment, bringing the company’s funding total to $361 million. Venture Global is developing the proposed Venture Global Plaquemines LNG, LLC export terminal on the Mississippi River in Plaquemines Parish, La., and the proposed...

NextDecade to Become Public Company After Merger

Privately held NextDecade, LLC (NextDecade) and Harmony Merger Corp. (Harmony) announced that they have signed a definitive agreement for a business combination transaction which would result in NextDecade becoming a publicly listed company.  NextDecade is the sponsor of the proposed Rio Grande LNG export terminal project located in Brownsville, Texas, and interconnected pipeline. ...

NextDecade May Become Public Company

Harmony Merger Corp. (Harmony) and privately held NextDecade, LLC (NextDecade) have announced that they have executed a non-binding letter of intent for a business combination transaction which would result in NextDecade becoming a publicly listed company.  NextDecade is the sponsor of the proposed Rio Grande LNG export terminal project located in Brownsville, Texas, and interconnected...

Kinder Morgan, Inc. Sells 49% Interest in Elba Island LNG Export Terminal

Kinder Morgan, Inc. announced that investment funds managed by EIG Global Energy Partners have become a 49% joint venture participant in Elba Liquefaction Company, L.L.C., which will own 10 liquefaction units and other ancillary equipment to be constructed for the proposed Elba Liquefaction Project at Kinder Morgan’s existing Elba Island LNG terminal near Savannah, Ga....

Magnolia LNG Signs Heads of Agreement with VGS

Magnolia LNG, LLC (Magnolia), has signed a non-binding Heads of Agreement (HOA) with Vessel Gasification Solutions, Inc. (VGS), which provides for a 20-year Free-on-Board Sale and Purchase Agreement of up to 4 million metric tonnes per annum from Magnolia’s proposed LNG export terminal at Lake Charles, La.  The HOA contains several conditions precedent.  According to the press release,...

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