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Article Examines Canadian LNG Export Market Economics

An article in the Oil & Gas Financial Journal examines the market for Canadian LNG exports and concludes that successful development of Canadian gas reserves and a profitable LNG export market will require significant effort and “commercial compromises.”

Stonepeak to Provide $660 Million in Equity Financing for Magnolia LNG Project

Liquefied Natural Gas Limited announced that it has entered into a Project Development Cooperation and Equity Term Sheet with Stonepeak Partners LP under which Stonepeak will provide 100% of the project equity financing, approximately $660 million, for construction and operation of the Magnolia LNG export terminal project in Lake Charles, La. The ownership split of the project will be...

Bill Introduced to Repeal Import and Export Provisions from the Natural Gas Act

U.S. Representative Ted Poe (R-Tex.) has introduced the “Expedite Our Economy Act of 2013” (H.R. 2771), which would “repeal the requirements under the Natural Gas Act for obtaining authorization for the exportation or importation of natural gas.” The bill, cosponsored by John Carter, Ralph Hall and Pete Olson, all Republicans from Texas, was introduced July 22,...

Woodfibre LNG Files for Canadian National Energy Board LNG Export License

Woodfibre LNG Export Pte. Ltd. (Woodfibre), a subsidiary of Pacific Oil &  Gas Limited, has filed an application with the Canadian National Energy Board for a license to export over 25 years up to 2.1 million tonnes (105 Bcf) per year of LNG to Pacific Rim markets, including Japan, South Korea and China, from a proposed LNG export terminal near Squamish, British Columbia. The...

Petronas in Talks with Sinopec for Share of Petronas’s B.C. LNG Export Terminal

Reuters reports that Petronas is negotiating to sell to China Petroleum & Chemical Corporation (Sinopec) at least a 10% interest in Petronas’s proposed $20 billion LNG export facility on Lelu Island in Port Edward, near Prince Rupert, British Columbia.  The negotiations with Sinopec follow sale of a 10% interest in the project to Japan Petroleum Exploration Company and...

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