Hess LNG Affirms Commitment to Weaver’s Cove LNG Following Acquisition of Crown Landing
Posted on Nov 5, 2009 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Hess LNG Affirms Commitment to Weaver’s Cove LNG Following Acquisition of Crown Landing
Following this week’s acquisition of the Crown Landing LNG project from BP, Hess LNG CEO Gordon Shearer said that the company remains committed to the Weaver’s Cove LNG project. Shearer told Platts LNG Daily [subscription required] that “[b]y no means or stretch of the imagination are we giving up on Weaver’s...
Hess LNG Buys Crown Landing LNG Project from BP
Posted on Nov 4, 2009 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Hess LNG Buys Crown Landing LNG Project from BP
The Gloucester County Times reports that Hess LNG has purchased the Crown Landing LNG import project from BP. While acknowledging that the project faces a challenging global energy market and opposition from neighboring state Delaware, Hess LNG President and CEO Gordon Shearer said that Crown Landing “nicely fits [Hess LNG’s] portfolio.” Shearer stated, “We will...
Iberdrola Acquires Part of Chevron’s Regas Capacity at Sabine Pass LNG Terminal
Posted on Nov 4, 2009 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Iberdrola Acquires Part of Chevron’s Regas Capacity at Sabine Pass LNG Terminal
Platts LNG Daily [subscription required] reports that Iberdrola has acquired 1 Bcm/y of regasification capacity at the Sabine Pass LNG terminal from Chevron, effective immediately.
Op-Ed: U.S. Shale Gas Plays Affecting Global LNG Market
Posted on Nov 3, 2009 in Markets and Competition | Comments Off on Op-Ed: U.S. Shale Gas Plays Affecting Global LNG Market
Daniel Yergin and Robert Ineson, both with IHS CERA, argue in an op-ed carried in today’s Wall Street Journal that the major U.S. shale gas plays are affecting the global LNG market. Specifically, the piece states that as less LNG is delivered to U.S. import terminal, more LNG is going to Europe, lowering spot LNG prices and prompting discussion of modifying long-term natural gas...
Qatari LNG En Route to Sabine Pass LNG Terminal
Posted on Oct 28, 2009 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Qatari LNG En Route to Sabine Pass LNG Terminal
Platts LNG Daily [subscription required] reports that a Q-Flex class LNG vessel, the Muraq, is en route to the Sabine Pass LNG terminal and is expected to arrive on November 3, 2009. Separately, LNG Intelligence [subscription required] reports that Abdullah bin Hamed Al Attiyah, Qatar’s oil minister, said that he expects Qatar to divert LNG cargos from U.S. destinations to China...
Consultant: Increased LNG Imports Could Limit U.S. Natural Gas Price Increases
Posted on Oct 27, 2009 in Markets and Competition | Comments Off on Consultant: Increased LNG Imports Could Limit U.S. Natural Gas Price Increases
Steven Johnson, president of energy consulting firm Waterborne Energy Inc., told the Wall Street Journal that the expected increase of LNG deliveries to U.S. import terminals in the coming months will create downward pressure on U.S. natural gas prices. The piece notes that, although colder winter weather usually depletes natural gas inventories, the availability of moderately priced...