Algeria Plans to Triple LNG Exports to the United States
Posted on May 14, 2007 in Liquefaction, Markets and Competition | Comments Off on Algeria Plans to Triple LNG Exports to the United States
The chief executive of Algerian state-owned Sonatrach says the company will likely triple its LNG exports to the United States by 2010. This increase in exports will coincide with an anticipated 12 billion cubic meter increase in natural gas output capacity after the completion of two significant projects. Reuters provides further...
BP VP: U.S. LNG Imports Depend on Events in Europe
Posted on May 11, 2007 in Markets and Competition, Regas Terminals & Capacity | Comments Off on BP VP: U.S. LNG Imports Depend on Events in Europe
Speaking at the GasMart 2007 conference in Chicago, Lee Lunde, a BP Canada Energy executive, called the United States the “market of last resort” for LNG. Lunde said that just 30% of the country’s LNG regasification capacity has been used over the past three years; U.S. terminals have attracted more cargos recently only because of relatively low gas prices in...
In Depth: Risk-based Approach to LNG Terminal Access
Posted on May 11, 2007 in "In Depth", Financing, Markets and Competition, Regas Terminals & Capacity, Technology, Vessel Transportation | Comments Off on In Depth: Risk-based Approach to LNG Terminal Access
At the 2007 Offshore Technology Conference in Houston, Det Norske Veritas energy sector leader Pedram Fanailoo presented a paper, jointly written with Steven Sparling of Sutherland Asbill & Brennan LLP, on “The Need to Factor Asset Risk into LNG Terminal Agreement Negotiations.” The paper looks at the complex issue of LNG terminal operability: that is, the ability to...
Jamaica to Issue Request for Proposals for LNG Terminal
Posted on May 11, 2007 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Jamaica to Issue Request for Proposals for LNG Terminal
Platts LNG Daily reports that state-owned Petroleum Corporation of Jamaica plans to issue a request for proposals by June 15 in order to select a company to develop a floating regasification terminal off Jamaica’s coast. Jamaican officials expect to choose a proposal by August and hope that the terminal will be operational in...
Analysts Believe Record LNG Imports Will Bolster EIA’s Storage Projection
Posted on May 10, 2007 in Markets and Competition, Storage | Comments Off on Analysts Believe Record LNG Imports Will Bolster EIA’s Storage Projection
ing to Platts LNG Daily, most analysts believe that the U.S. Energy Information Administration’s weekly storage report will estimate that, due in large part to record-breaking imports of LNG, between 90 and 100 Bcf of net volume has been added to storage during the week ending May 4. By comparison, 81 Bcf was injected into storage during the same week last year. [Subscription...
Cheniere Reports Net Losses in First Quarter
Posted on May 10, 2007 in Financing, Markets and Competition | Comments Off on Cheniere Reports Net Losses in First Quarter
Citing high operational costs, Cheniere Energy Inc. announced on Wednesday a net loss of $34.6 million for the first quarter, on oil and gas sales of $832,000. Cheniere ascribed some of these losses to $2 billion in senior notes offered by wholly-owned subsidiary Sabine Pass LNG LP, in November, 2006. The Houston Business Journal provides further...