Kinder Morgan, Inc. Sells 49% Interest in Elba Island LNG Export Terminal
Posted on Mar 1, 2017 in Financing, Liquefaction, LNG Exports | Comments Off on Kinder Morgan, Inc. Sells 49% Interest in Elba Island LNG Export Terminal
Kinder Morgan, Inc. announced that investment funds managed by EIG Global Energy Partners have become a 49% joint venture participant in Elba Liquefaction Company, L.L.C., which will own 10 liquefaction units and other ancillary equipment to be constructed for the proposed Elba Liquefaction Project at Kinder Morgan’s existing Elba Island LNG terminal near Savannah, Ga....
Magnolia LNG Signs Heads of Agreement with VGS
Posted on Jan 24, 2017 in Financing, Liquefaction, LNG Exports, Markets and Competition | Comments Off on Magnolia LNG Signs Heads of Agreement with VGS
Magnolia LNG, LLC (Magnolia), has signed a non-binding Heads of Agreement (HOA) with Vessel Gasification Solutions, Inc. (VGS), which provides for a 20-year Free-on-Board Sale and Purchase Agreement of up to 4 million metric tonnes per annum from Magnolia’s proposed LNG export terminal at Lake Charles, La. The HOA contains several conditions precedent. According to the press release,...
GE Oil & Gas Invests $25 Million in Driftwood LNG Parent
Posted on Dec 2, 2016 in Financing, Liquefaction, LNG Exports | Comments Off on GE Oil & Gas Invests $25 Million in Driftwood LNG Parent
Tellurian Investments Inc. (Tellurian), owner of Driftwood LNG, has announced that GE Oil & Gas has made a $25 million preferred equity investment in Tellurian. The proposed Driftwood LNG export terminal would be located on the west side of the Calcasieu River, near Carlyss, Calcasieu Parish, La. Tellurian President and CEO Meg Gentle said in a press release: “This investment...
Producer Sponsors Not Moving Forward on Alaska LNG Project
Posted on Aug 26, 2016 in Financing, Liquefaction, LNG Exports, Markets and Competition, State and Local Issues | Comments Off on Producer Sponsors Not Moving Forward on Alaska LNG Project
Alaska Dispatch News reports that at a hearing before Alaska state legislators, ExxonMobil said it will not move forward with the front-end engineering and design, or FEED phase of development of the Alaska LNG Project, which was set to start in 2017 and was expected to cost up to $2 billion. ConocoPhillips and BP, the other two producer sponsors of the project, also indicated that...
Study: Alaska LNG Project Too Expensive to be Competitive
Posted on Aug 25, 2016 in Financing, Liquefaction, LNG Exports, State and Local Issues | Comments Off on Study: Alaska LNG Project Too Expensive to be Competitive
Alaska Public Media reports that consulting firm Wood Mackenzie has released a study finding that in its current form, the Alaska LNG Project is too expensive to be competitive with other LNG projects proposing to serve north Asian markets. The report offers options to reduce the costs of the project, estimated to be $45 – $65 billion, including bringing in outside investors or full...
Venture Global LNG Closes Additional $15 Million Funding Deal
Posted on Aug 23, 2016 in Financing, Liquefaction, LNG Exports | Comments Off on Venture Global LNG Closes Additional $15 Million Funding Deal
Venture Global LNG, Inc., announced that it has closed a fifth round of equity investment, raising additional capital of $15 million and bringing the total capital raised to date to over $280 million. The proceeds will fund Venture Global LNG’s proposed 10 million tonnes per annum (MTPA) Venture Global Calcasieu Pass LNG facility at the intersection of the Calcasieu Ship Channel and...