World Bank to Help Finance World’s First Floating Liquefaction Plant
Posted on Jul 17, 2014 in Financing, Liquefaction | Comments Off on World Bank to Help Finance World’s First Floating Liquefaction Plant
Bloomberg News reports that the International Finance Corp. (IFC), a member of the World Bank Group focused exclusively on the private sector, will help finance a $300 million project to develop the world’s first floating LNG liquefaction plant, which will be located in Colombia. The project is a joint venture between Pacific Rubiales Energy Corp. and Exmar NV. IFC’s global head of...
Exelon Corp. Acquires 96 Percent Interest in Annova LNG
Posted on Jul 11, 2014 in Financing, LNG Exports | Comments Off on Exelon Corp. Acquires 96 Percent Interest in Annova LNG
Bloomberg News reports that Exelon Corp. has purchased a 96 percent share in Annova LNG. Annova LNG is currently developing a $1.3 billion LNG export terminal in Brownsville, Texas. At these facilities, Annova will shrink gas to 1/600th of its original volume through a refrigeration process. The terminal is expected to ship 2 million tons of gas per year and could eventually triple...
EDP to Sign Purchase Agreement for First Supply of LNG to Mainland Central America
Posted on Jul 3, 2014 in Financing, LNG Exports | Comments Off on EDP to Sign Purchase Agreement for First Supply of LNG to Mainland Central America
Bloomberg News reports that at the end of July, Energia del Pacifico SA (EDP) will sign a purchase agreement for LNG. This purchase will mark the first supply of LNG to mainland Central America. Under the agreement, EDP will purchase 500,000 metric tons of LNG per year for 20 years at prices linked to the price of Brent crude to supply EDP’s power plant that is being built in...
ABS and DSME to Jointly Develop an LNG-Fueled Drillship
Posted on Jul 3, 2014 in Financing, Liquefaction, Vessel Transportation | Comments Off on ABS and DSME to Jointly Develop an LNG-Fueled Drillship
On Wednesday, the American Bureau of Shipping (ABS) and Daewoo Shipbuilding & Marine Engineering (DSME) announced that they have entered into a joint development project to develop the first LNG-fueled drillship. The project will target the Gulf of Mexico market. Dr. Sung Geun Lee, the CTO and Executive Vice President of DSME, commented: “We are pleased to collaborate on this...
Petronas Seeks $15 billion to Finance Pacific Northwest LNG Project
Posted on Jun 20, 2014 in Canada & Mexico, Financing, LNG Exports | Comments Off on Petronas Seeks $15 billion to Finance Pacific Northwest LNG Project
Petroliam Nasional Berhad (Petronas) is seeking debt-financing of as much as $15 billion for its sponsored Pacific Northwest LNG project on the West Coast of Canada. Spokesman for the Pacific NorthWest LNG project told the Financial Post, “[y]es, we have contracted Société Générale S.A. as the financial advisor. They will be going out and looking to acquire financing for the...
Louisiana LNG Energy Obtains Funding for LNG Export Terminal
Posted on May 9, 2014 in Financing, LNG Exports | Comments Off on Louisiana LNG Energy Obtains Funding for LNG Export Terminal
MarketWatch reports that Louisiana LNG Energy, LLC has obtained funding from an affiliate of ArcLight Capital Partners, LLC for its proposed mid-scale LNG export terminal, to be located on the Mississippi River, south of New Orleans, in Plaquemines Parish, La. The facility is expected to be operational in late 2017 and will consist of four 74,380 Mcf/d liquefaction trains with a...