Eversheds Sutherland LNG Law Blog
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CFTC Releases Report on LNG Markets

Today, the U.S. Commodity Futures Trading Commission (CFTC) issued a report assessing the market impacts due to the United States transitioning from being a net importer to a net exporter of LNG in 2016. The three main takeaways of this report are: Global LNG trade growth is expected to continue with U.S. LNG exports having the most rapid growth rate and a competitive price advantage. U.S. LNG export growth may put upward pressure on U.S. natural gas prices and expose a heretofore relatively isolated North American market to global market dynamics. Burgeoning U.S. LNG exports are affecting...
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U.S. Coast Guard Approves Jordan Cove LNG Waterway Suitability

The U.S. Coast Guard has completed its review of the Waterway Suitability Assessment for Jordan Cove Energy Project’s proposed LNG terminal at Coos Bay, Ore., and recommended to FERC that the waterway be considered suitable for LNG marine traffic associated with the project.  
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Venture Global LNG Signs SPA with Portugese-based Galp

Venture Global LNG has announced that its subsidiary, Venture Global Calcasieu Pass, LLC, and Portugese energy company Galp, have entered into a 20-year Sales and Purchase Agreement (SPA) for the supply of one million tonnes per annum of LNG from the proposed Venture Global Calcasieu Pass LNG export facility in Cameron Parish, La.  Under the agreement, Galp will purchase the LNG on a free on board basis (FOB) for a 20-year term starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022 upon Final Investment Decision (FID)...
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Cheniere Energy to Make FID on Corpus Christi LNG Train 3 Within Weeks

Reuters reports that Cheniere Energy has stated that it intends “in the next few weeks” to make a final investment decision (FID) on Train 3 at the Corpus Christi Liquefaction and export terminal under construction in Corpus Christi, Texas.  
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Pieridae Energy Announces Term Sheet for Goldboro LNG Train 2 Sales

Pieridae Energy Limited has announced that it has entered into a term sheet to negotiate a binding LNG sale and purchase agreement (SPA) to supply LNG to Europe from the second train of the proposed Goldboro liquefaction facility in Nova Scotia. Under the SPA term sheet with Pieridae, the unnamed offtaker will purchase up to 1 million tonnes per annum of LNG over a 10-year period anticipated to begin the first quarter of 2023....
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Gas Sales Precedent Agreement signed for Alaska LNG Project

Alaska Gasline Development Corporation (AGDC), developer of the Alaska LNG project, has announced that it has signed a Gas Sales Precedent Agreement with BP Alaska, which sets forth the key terms, including price and volume, for AGDC to purchase BP Alaska’s share of 30 Tcf of gas from the Prudhoe Bay and Point Thomson units.  BP Alaska owns a 26% share of Prudhoe Bay and a 32% share of the nearby Point Thomson field. [change font to last sentence]  ...
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LNG Canada Chooses Contractor

Reuters reports that LNG Canada, a joint venture led by Royal Dutch Shell Plc, with partners PetroChina Co. Ltd., Korea Gas Corp. and Mitsubishi Corp., has chosen a joint venture between JGC Corp. and Fluor Corp. to do the final engineering, procurement and construction for the proposed LNG Canada terminal at Kitimat, British Columbia. A final investment decision on project is expected later this...
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