GDF Suez, Mitsubishi, and NYK Sign Agreement Related to LNG Bunkering
Posted on Jul 10, 2014 in Environmental, LNG Exports, Vessel Transportation | Comments Off on GDF Suez, Mitsubishi, and NYK Sign Agreement Related to LNG Bunkering
GDF Suez, Mitsubishi Corp., and Nippon Yusen Kaisha (NYK) signed a framework agreement related to the development of an LNG bunkering vessel and an LNG bunkering supply contract between GDF Suez and United European Car Carriers. Under the agreement, NYK will operate an LNG bunkering vessel to be built in South Korea and delivered by 2016. The LNG bunkering vessel will transport LNG...
ABS and DSME to Jointly Develop an LNG-Fueled Drillship
Posted on Jul 3, 2014 in Financing, Liquefaction, Vessel Transportation | Comments Off on ABS and DSME to Jointly Develop an LNG-Fueled Drillship
On Wednesday, the American Bureau of Shipping (ABS) and Daewoo Shipbuilding & Marine Engineering (DSME) announced that they have entered into a joint development project to develop the first LNG-fueled drillship. The project will target the Gulf of Mexico market. Dr. Sung Geun Lee, the CTO and Executive Vice President of DSME, commented: “We are pleased to collaborate on this...
KMLP Proposed Lake Charles Expansion Project to Accommodate Magnolia LNG
Posted on Jul 1, 2014 in Liquefaction, Vessel Transportation | Comments Off on KMLP Proposed Lake Charles Expansion Project to Accommodate Magnolia LNG
Kinder Morgan Louisiana Pipeline (KMLP) filed an application with FERC on Monday to make system modifications to create new firm transportation under a new north-to-south path for Magnolia LNG, LLC. The path will connect to Magnolia’s proposed liquefaction plant in Lake Charles, Louisiana. The Lake Charles Expansion Project proposed by KMLP will (1) modify KMLP’s existing delivery...
Golar LNG Limited Successfully Prices Public Follow-On Offering of its Common Stock
Posted on Jun 27, 2014 in Markets and Competition, Vessel Transportation | Comments Off on Golar LNG Limited Successfully Prices Public Follow-On Offering of its Common Stock
On Wednesday, Golar LNG announced the pricing of its offering of 11 million shares of common stock at $54 per share. The stock opened trading today at the price of 59.27, a 9.8% increase from the offering price. Golar LNG granted its underwriters a 30-day option to purchase up to an additional 1,650,000 common shares. Proceeds from the public offering will go towards funding a...
FERC Approves Modification to EcoEléctrica Authorization
Posted on Jun 19, 2014 in LNG Exports, Pipelines, Vessel Transportation | Comments Off on FERC Approves Modification to EcoEléctrica Authorization
On Thursday, FERC approved a modification to EcoEléctrica, L.P.’s authorization under the Natural Gas Act. The approval authorizes EcoEléctrica to construct an LNG pipeline that will supply LNG to a non-jurisdictional LNG truck loading facility at EcoEléctrica’s existing liquefied natural gas terminal and cogeneration facility site in Peñuelas, Puerto Rico. The facility is currently...
GDF Suez and Santos Terminate Floating LNG Project
Posted on Jun 19, 2014 in Liquefaction, Markets and Competition, Vessel Transportation | Comments Off on GDF Suez and Santos Terminate Floating LNG Project
On Thursday, GDF Suez SA and Santos Ltd. announced that they have terminated their plans for a floating LNG project. The multibillion dollar Bonaparte LNG project was intended to use new technology to liquefy natural gas from a vessel at sea. Santos and Suez stated that the project no longer complied with the companies’ commercial needs and that they would consider alternative...