Some LNG projects in Australia in trouble Planned Australian liquefied natural gas (LNG) export projects are at risk as sinking energy prices make investments unviable, reports Reuters. A nearly 50% slump in Asian LNG prices this year has pressured any project without a Final Investment Decision (FID). Last week, Woodside Petroleum Ltd. (ticker: WPL) delayed the FID for its $40
Apache Corporation (ticker: APA) announced on December 15, 2014, that it has agreed to sell its interest in two liquefied natural gas (LNG) projects to Australian E&P Woodside Petroleum Ltd. (ticker: WPL). The deal includes the accompanying upstream oil and gas reserves, along with APA’s interest in the LNG projects. Woodside paid US$2.75 billion for a 13% interest in the
This week marked the announcement of plans for a new Liquefied Natural Gas (LNG) plant in Louisiana. The news came yesterday as Venture Global LNG said it would invest $4.0 to $4.5 billion to build a gas liquefaction processing plant and LNG export terminal in Cameron Parish. The project site will be approximately 203 acres along the Calcasieu Ship Cannel
News of delays to the Pacific NorthWest LNG Project have some Canadians concerned about Competitiveness Malaysian oil giant Petronas announced earlier this week that it will delay its decision about proceeding with its Pacific NorthWest LNG terminal, saying that estimated construction costs were too high, especially as the company has to find even stronger justification for new projects as oil
Freeport LNG Closes on $11 Billion in Financing for new Facility Freeport LNG Expansion, L.P. announced last week that it successfully closed on debt and equity financing commitments of approximately $11 billion in capital required for the development of the initial two trains of Freeport LNG’s natural gas liquefaction and LNG loading facility on Quintana Island near Freeport, Texas. Commitments
The Environmental Assessment Office of British Columbia approved three separate liquefied natural gas (LNG) projects on November 25, 2014, two of which are located at Prince Rupert Island. The island, roughly 750 kilometers (465 miles) north of Vancouver, is proposed to be a major LNG export plant with an expansive customer base in Asia. Malaysia-based Petronas, along with large energy
Multiple tax reductions target LNG investment Exxon Mobil (ticker: XOM) announced last week that it will join an alliance of companies that is promoting the development of a liquefied natural gas industry in northern British Columbia, reported CBC News. The British Columbia LNG Alliance said last Wednesday that ExxonMobil Canada Ltd., a subsidiary of the U.S.-based ExxonMobil, has become the
In recent years there has become an acute awareness of the importance of energy security around the world, particularly in Japan. In 2011 a powerful tsunami from the Pacific knocked the Fukushima Daiichi nuclear power station offline, and led to Japan’s decision to close the rest of Japan’s 54 nuclear reactors. Japan, being the world’s third largest economy, was left
Republican Sen. John Hoeven of North Dakota is holding back his legislation to fast-track the Energy Department’s reviews of LNG exports for now, reports E&E News. Hoeven said he made this decision after talking to Department of Energy (DOE) head Ernest Moniz in order to garner more support for the bill before it goes to the Senate. The bill would
Cove Point Begins Construction, Freeport Secures Financing Japanese/Asian Customers Lock Up Capacity of Both Projects With three years of governmental review and permitting out of the way, Dominion (ticker: D) announced today it has begun construction activities on its Cove Point LNG Export project on the western shore of the Chesapeake Bay in Maryland. The estimated price tag to add
Another U.S. Liquefaction Plant Breaks Ground, Lithuania Says ‘Goodbye Gazprom’ Construction is Underway on Cameron LNG’s U.S. Liquefaction/Export Facility Last week Cameron LNG broke ground on its $10 billion export plant in Hackberry, Louisiana. This sets the company off on a four-year project to build a liquefaction and export facility that will convert U.S. natural gas to liquefied natural gas (LNG) for
A 30-year oil and gas veteran gives his perspective on the E&P space, oil prices, OPEC, LNG and New York’s shale Oil & Gas 360® had an opportunity to speak with John Gerdes about the oil and gas industry from his perch in Houston as KLR Group’s Managing Director and Head of Research. KLR is a merchant and investment bank,
