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...
EIA: U.S. LNG Imports Up 34% in 2007
Posted on Jan 9, 2008 in Markets and Competition | Comments Off on EIA: U.S. LNG Imports Up 34% in 2007
In its Short-Term Energy Outlook released yesterday, the Energy Information Administration (EIA) reported that LNG imports to the United States in 2007 totaled 781 Bcf, a 34% increase over 2006. The EIA projects that import volumes will reach 937 Bcf in 2008 and 1.18 Tcf in...
NATS: Warm Weather in the Midwest and East Slows Sendout from LNG Terminals
Posted on Jan 8, 2008 in Markets and Competition, Regas Terminals & Capacity | Comments Off on NATS: Warm Weather in the Midwest and East Slows Sendout from LNG Terminals
In comments released yesterday, NATS cites warmer-than-normal weather in the midwest and eastern parts of the United States as one reason for slowing LNG imports to North America. According to NATS, Trunkline LNG remains idle as North American natural gas prices continue to be considerably lower than Asian and European price levels. [Subscription...
Industry Analyst Suggests American Gas Market Is Oversupplied
Posted on Jan 7, 2008 in Markets and Competition | Comments Off on Industry Analyst Suggests American Gas Market Is Oversupplied
Jon Wolff, an energy analyst with Credit Suisse, told Platts LNG Daily last week that he believes that the U.S. gas market is oversupplied, in part due to expanded LNG imports. Wolff said that in spite of this, U.S. domestic gas production should peak, causing the market to shift more heavily to LNG imports. [Subscription...
New LNG Projects Remain Possible in Alaska as State Eliminates All Pipeline Proposals but One
Posted on Jan 7, 2008 in Liquefaction, Markets and Competition, Pipelines, State and Local Issues | Comments Off on New LNG Projects Remain Possible in Alaska as State Eliminates All Pipeline Proposals but One
Late last week Alaska Governor Sarah Palin (R) announced that only one of the five applications submitted to transport North Slope natural gas to markets in southern Alaska met all the requirements of the Alaska Gasline Inducement Act. Gov. Palin said that the public comment period for the remaining gas pipeline proposal, submitted by TransCanada, would open on January 5, 2008. The...
Snohvit to Resume Production Later This Month
Posted on Jan 4, 2008 in Liquefaction, Markets and Competition, Regas Terminals & Capacity | Comments Off on Snohvit to Resume Production Later This Month
A spokesperson for StatoilHydro told Platts LNG Daily [subscription required] that the company expects to resume production at its Snohvit LNG liquefaction plant later this month. Activities at the facility were suspended last November because several pipes had leaked seawater. According to Platts, StatoilHydro expects to deliver a substantial portion of its Snohvit production to the...