NATS: September LNG Regas Rates in United States Similar to Last Year’s
Posted on Sep 25, 2007 in Markets and Competition | Comments Off on NATS: September LNG Regas Rates in United States Similar to Last Year’s
LNG Week in Review, published by NATS, reports that LNG regasification rates in the United States for September 2007 are low in comparison to the rates in April through July 2007, but similar to the rates in September 2006. NATS notes that the U.S. market was affected by a record-level gas inventory build-up in preceding months, similar to conditions last year. [Subscription...
Analysts Predict ExxonMobil May Acquire Large Company to Boost its LNG Profile
Posted on Sep 24, 2007 in E&P, Financing, Markets and Competition | Comments Off on Analysts Predict ExxonMobil May Acquire Large Company to Boost its LNG Profile
Platts Oilgram News reports that analysts predict ExxonMobil may spend some of its $230 billion reserves buying a large company that would boost its LNG production sector. An analyst with Oppenheimer said that a large acquisition in 2008 is key to the company’s long-term strategy, a view in line with an August Credit Suisse report. However, an analyst with Benchmark suggested...
Canaport LNG Seeks American Market
Posted on Sep 24, 2007 in Canada & Mexico, Markets and Competition, Regas Terminals & Capacity | Comments Off on Canaport LNG Seeks American Market
The Gloucester Daily Times (Mass.) details the potential impact of the Canaport LNG project under construction in Saint John, New Brunswick, on natural gas markets in the American Northeast. The article explains how the project aids the long-term objectives of both New Brunswick policymakers, who seek to make their province “an energy hub,” and Massachusetts policymakers,...
Canadian Firm Unlikely to Face Same Fate as Repsol in Algeria
Posted on Sep 20, 2007 in Canada & Mexico, E&P, Markets and Competition | Comments Off on Canadian Firm Unlikely to Face Same Fate as Repsol in Algeria
Chief executive Rick Anderson of First Calgary Petroleums Ltd., a Canadian gas production firm, told the Globe and Mail that he does not expect his company to face challenges similar to those leading to the forced exodus of Repsol YPF from Algeria’s Gassi Touli LNG project. Algerian-owned Sonatrach “won’t come after us. Our own project is on very favorable terms with...
Asia is Destination of Choice for LNG Cargos As U.S. Imports Decline
Posted on Sep 19, 2007 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Asia is Destination of Choice for LNG Cargos As U.S. Imports Decline
World Gas Intelligence reports that following a trend of strong LNG imports to the United States for the first eight months of 2007, cargos are now being diverted to Asian markets, particularly Japan. WGI further notes that Elba Island LNG and Suez’s Everett regasification terminal are processing baseload volumes and Cove Point LNG, Lake Charles LNG, and Excelerate’s Gulf...
High Premiums for Diverting Cargos May Delay Developing Global LNG Market
Posted on Sep 19, 2007 in Markets and Competition, Storage | Comments Off on High Premiums for Diverting Cargos May Delay Developing Global LNG Market
According to speakers and participants at the APGAS conference in San Diego, the increasing globalization of the LNG market may be hitting an obstacle as suppliers, especially Qatar, continue to charge Asian LNG buyers a premium well in excess of the actual cost of diverting supplies from the Atlantic to the Pacific. Due to storage constraints, LNG importers in East Asia have little...