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Petronas Buys 25% Share of LNG Canada Project

LNG Canada has announced that Malaysia’s state-owned oil and gas company Petronas, through its wholly-owned entity, the North Montney LNG Limited Partnership, is buying a 25% share in LNG Canada’s proposed LNG export project at Kitimat, British Columbia.  Once the deal is completed, LNG Canada’s ownership interests will be Shell at 40%, Petronas at 25%, PetroChina at 15%, Diamond LNG...

Cheniere Energy Makes Positive FID for Corpus Christi Train 3

Cheniere Energy, Inc. (Cheniere) has announced that its Board of Directors has made a positive Final Investment Decision (FID) for Train 3 at Cheniere’s Corpus Christi liquefaction project under construction in Corpus Christi, Texas.  According to the press release, this represents the first FID on new liquefaction capacity in the United States since 2015.  Cheniere Corpus Christi...

Venture Global Enters Into SPA with BP

Venture Global Calcasieu Pass, LLC has announced that it has entered into a 20-year Sales and Purchase Agreement (SPA) with BP for the supply of two million tonnes per annum of LNG from the Venture Global Calcasieu Pass LNG export facility, currently under development in Cameron Parish, La.  Under the SPA, BP will purchase LNG on a free on board basis (FOB) for a 20-year term starting...

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. 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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