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CFTC Releases Report on LNG Markets

Today, the U.S. Commodity Futures Trading Commission (CFTC) issued a report assessing the market impacts due to the United States transitioning from being a net importer to a net exporter of LNG in 2016. The three main takeaways of this report are: Global LNG trade growth is expected to continue with U.S. LNG exports having the most rapid growth rate and a competitive price advantage....

Venture Global LNG Signs SPA with Portugese-based Galp

Venture Global LNG has announced that its subsidiary, Venture Global Calcasieu Pass, LLC, and Portugese energy company Galp, have entered into a 20-year Sales and Purchase Agreement (SPA) for the supply of one million tonnes per annum of LNG from the proposed Venture Global Calcasieu Pass LNG export facility in Cameron Parish, La.  Under the agreement, Galp will purchase the LNG on a...

Pieridae Energy Announces Term Sheet for Goldboro LNG Train 2 Sales

Pieridae Energy Limited has announced that it has entered into a term sheet to negotiate a binding LNG sale and purchase agreement (SPA) to supply LNG to Europe from the second train of the proposed Goldboro liquefaction facility in Nova Scotia. Under the SPA term sheet with Pieridae, the unnamed offtaker will purchase up to 1 million tonnes per annum of LNG over a 10-year period...

Gas Sales Precedent Agreement signed for Alaska LNG Project

Alaska Gasline Development Corporation (AGDC), developer of the Alaska LNG project, has announced that it has signed a Gas Sales Precedent Agreement with BP Alaska, which sets forth the key terms, including price and volume, for AGDC to purchase BP Alaska’s share of 30 Tcf of gas from the Prudhoe Bay and Point Thomson units.  BP Alaska owns a 26% share of Prudhoe Bay and a 32% share of...

Freeport LNG Pushes Back In-Service Date to Sept. 2019

Reuters reports that Freeport LNG has pushed back the projected start date for its $13 billion LNG export terminal under construction on Quintana Island, Texas, by about nine months to around September 1, 2019. Freeport LNG announced that the first liquefaction train is now expected to enter service around September 1, 2019, with the second and third trains expected in service around...

Cove Point LNG Facility Enters Commercial Service

Dominion Energy has announced that its Cove Point LNG terminal (DECP) in Lusby, Md., has entered commercial service for natural gas liquefaction and export. According to the press release, after completing a planned maintenance outage, the facility has been ramping up to full production of LNG from natural gas provided by its export customers since late March. DECP will produce LNG for...

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