USCG Close to Approving Northeast Gateway Security Plan, Operations Manual
Posted on Jan 10, 2008 in Federal Regulation, Financing, Regas Terminals & Capacity, Safety & Security | Comments Off on USCG Close to Approving Northeast Gateway Security Plan, Operations Manual
Reuters reports that a spokesperson for the U.S. Coast Guard predicted that final approval of the Northeast Gateway LNG terminal’s security plan and operations manual would be granted by the end of January. The piece also notes that start-up of the terminal may be key to German firm RWE’s reported purchase of 50% of Northeast Gateway project developer Excelerate...
Contango Sells Interest in Freeport LNG Project
Posted on Jan 9, 2008 in Financing, Markets and Competition, Regas Terminals & Capacity | Comments Off on Contango Sells Interest in Freeport LNG Project
Yesterday, Contango Oil & Gas Company announced that it has sold its 10% interest in Freeport LNG to a major Asian utility company. Contango’s press release (carried via Reuters) states that the sale was for approximately $68 million and that part of the proceeds will be used to prepay an outstanding loan, with the remaining funds to be used for Contango’s working...
Excelerate Confirms “Exclusive Conversations” Have Taken Place with RWE
Posted on Dec 7, 2007 in Financing | Comments Off on Excelerate Confirms “Exclusive Conversations” Have Taken Place with RWE
Reuters reports that Excelerate Energy, an LNG company based in the United States, has confirmed that the company has had “exclusive conversations with RWE,” though declined to comment further regarding a report that RWE is pursuing a 50% stake in...
RWE May Seek 50% Stake in Excelerate Energy
Posted on Dec 6, 2007 in Financing | Comments Off on RWE May Seek 50% Stake in Excelerate Energy
Citing anonymous sources speaking on the sidelines at an industry conference in Rome, Platts LNG Daily [subscription required] reports that German-based gas and distribution company RWE may seek a 50% stake in U.S.-based Excelerate Energy. Though rumors have circulated over the past two years that Excelerate may be for sale, Platts notes that its sources suggest this agreement may...
El Paso Corp. Announces Purchase of Gulf LNG Stake
Posted on Nov 29, 2007 in Financing, Regas Terminals & Capacity | Comments Off on El Paso Corp. Announces Purchase of Gulf LNG Stake
Yesterday, El Paso Corp. announced that it has purchased a 50% stake in the proposed Gulf LNG regasification terminal. The Houston Chronicle reports that the stake cost El Paso $294 million and that Houston investors Crest Group and Sonangol USA will retain the remaining...
Analysts Predict ExxonMobil May Acquire Large Company to Boost its LNG Profile
Posted on Sep 24, 2007 in E&P, Financing, Markets and Competition | Comments Off on Analysts Predict ExxonMobil May Acquire Large Company to Boost its LNG Profile
Platts Oilgram News reports that analysts predict ExxonMobil may spend some of its $230 billion reserves buying a large company that would boost its LNG production sector. An analyst with Oppenheimer said that a large acquisition in 2008 is key to the company’s long-term strategy, a view in line with an August Credit Suisse report. However, an analyst with Benchmark suggested...