Sempra CFO: Costa Azul LNG Terminal Construction on Schedule
Posted on Sep 7, 2007 in Canada & Mexico, Financing, Regas Terminals & Capacity | Comments Off on Sempra CFO: Costa Azul LNG Terminal Construction on Schedule
Speaking at the Lehman Brothers CEO Energy/Power conference in New York City, Sempra Energy’s CFO Mark Snell told investors that the Engeria Costa Azul LNG regasification terminal is more than 80% complete and remains on schedule to begin operations in 2008. Platts LNG Daily reports that Snell believes that Costa Azul’s capacity to expand to 2.5 Bcf/d gives the project a...
Cheniere Posts Loss in Second Quarter of 2007
Posted on Aug 10, 2007 in Financing, Regas Terminals & Capacity | Comments Off on Cheniere Posts Loss in Second Quarter of 2007
Despite progress on the construction of its Sabine Pass LNG terminal, Cheniere posted a second quarter net loss of $41.1 million in an earnings report released this week. Cheniere cited increased general and administrative costs due to staff growth as the major reason for its losses. Read more in Upstream Online. [Subscription...
NATS: LNG Market Faces Global Volatility
Posted on Aug 6, 2007 in Financing, Markets and Competition | Comments Off on NATS: LNG Market Faces Global Volatility
NATS LNG Week in Review reports that the global LNG market is facing a great deal of volatility due to several factors, ranging from late-summer weather that could disrupt North American supplies, to a payment dispute between Belarus and Gazprom threatening to shut off supplies. NATS further notes that market-wide uncertainty spilling over from the housing market could affect the...
Petro-Canada Faces Large Increase in Cost Estimates for Gros Cacouna LNG Terminal
Posted on Jul 27, 2007 in Canada & Mexico, Financing, Regas Terminals & Capacity | Comments Off on Petro-Canada Faces Large Increase in Cost Estimates for Gros Cacouna LNG Terminal
The Financial Post (Canada) reports that construction of the Gros Cacouna LNG terminal will be delayed for a minor redesign in order to bring down construction costs. Ron Brenneman, president and chief executive of Petro-Canada, said, “That cost has gone up like any other LNG project in North America, so we’re now looking at numbers more in the $1-billion range.”...
Panel: Early Investors Have Advantage as LNG Construction Costs Soar
Posted on Jun 8, 2007 in Financing, Markets and Competition, Regas Terminals & Capacity | Comments Off on Panel: Early Investors Have Advantage as LNG Construction Costs Soar
A panel of LNG executives at the Citi Power, Gas, and Utilities Conference in Charleston, S.C., indicated that while the LNG investment climate remains strong, particular advantages may accrue to companies that invested early. Sempra CFO Mark Snell said, “The facilities we have under construction, and others under way, definitely have a cost advantage to any new...
In Depth: Risk-based Approach to LNG Terminal Access
Posted on May 11, 2007 in "In Depth", Financing, Markets and Competition, Regas Terminals & Capacity, Technology, Vessel Transportation | Comments Off on In Depth: Risk-based Approach to LNG Terminal Access
At the 2007 Offshore Technology Conference in Houston, Det Norske Veritas energy sector leader Pedram Fanailoo presented a paper, jointly written with Steven Sparling of Sutherland Asbill & Brennan LLP, on “The Need to Factor Asset Risk into LNG Terminal Agreement Negotiations.” The paper looks at the complex issue of LNG terminal operability: that is, the ability to...