LNG Transportation








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North America

LNG Transportation

Venture Global reaches final investment decision for CP2 LNG project

Venture Global announced on Monday that it had made a final decision to invest and closed the project financing of $15.1 billion for the first phase CP2 LNG Export Facility. The CP2 Project, which is the largest export facility for super-cooled gas in the U.S. is expected to reach a maximum capacity of 28 millions tonnes of liquefied gas per year and will deliver its first LNG by 2027. After President Donald Trump lifted the moratorium on new LNG permits shortly after taking office, commercial activity in the U.S. has increased. Venture Global reported that the group of lenders for...

LNG Transportation

US LNG producers soar after EU agrees $750 billion energy purchase

Energy companies in the United States saw gains in premarket trading after European Union committed $750 billion in strategic purchases in a trade agreement. The framework deal that ended months of uncertainty on both sides of Atlantic calls for strategic oil, gas and nuclear fuel purchases during the term of U.S. president Donald Trump. NextDecade Venture Global and Cheniere Energy all saw their shares rise between 5%-7%. The deal is expected to boost the prospects of American LNG exporters, as they expand in order to meet the growing demand for cleaner burning fuels. Energy Fuels, a miner of uranium, rose...

LNG Transportation

US LNG producers soar after EU agrees to annual purchases of $250 billion

The shares of U.S. developers of liquefied gas surged on Monday in premarket trading after the European Union committed to buy $750 billion of the super-cooled fuel within the next three year as part of an sweeping trade agreement. NextDecade Venture Global and Cheniere Energy all jumped between 7.8% and 8.8%. The deal is a boon for American LNG exporters who are expanding to meet the growing demand for cleaner burning fuels. As part of the framework agreement announced on Sunday, the EU committed to purchasing $250 billion in U.S. Liquefied Natural Gas annually as it seeks to reduce its...

LNG Transportation

The Arctic LNG 2 facility in Russia is the second LNG vessel sanctioned this year.

Shiptracking data from LSEG/Kpler revealed that a liquefied gas (LNG), vessel subject to U.S. sanction, docked this week at Russia's Arctic LNG 2 facility, marking the second vessel sanctioned in this year to visit the plant. It could be a sign that Arctic LNG 2 has resumed loading, which is also under the same Western sanctions due to Russia's conflict in Ukraine. Kpler data shows that the tanker Voskhod unloaded itself as it approached the Arctic LNG 2 facility on Wednesday. Arctic LNG 2's first vessel of the year was the Iris. It loaded a cargo on the 26th of...

LNG Transportation

US LNG exports drop in June due plant maintenance

According to preliminary data, LSEG, U.S. liquefied gas exports in June fell to the second-lowest monthly level of the year, due to maintenance work being done at the largest export facilities. LSEG data revealed that the United States, which is the top LNG exporter in the world, sold 8,4 million metric tonnes of super-cooled gas during the past month. This was down from the 8.9 MT of May, and far below the record set by April of 9,3 MT. The decrease in LNG exports is mainly due to maintenance at Cheniere’s Sabine Pass facility, which produces 4.5 billion cubic foot...

LNG Transportation

US LNG exports drop in June due plant maintenance

According to preliminary data, LSEG, the financial firm, U.S. liquefied gas exports in June fell to the second-lowest monthly level of the year, due to maintenance work being done at some the largest export facilities. LSEG data revealed that the United States, which is the top LNG exporter in the world, sold 8,4 million metric tonnes of superchilled LNG during the month. This was down from the 8.9 MT of May, and far below the record set by April of 9.3 MT. The decrease in LNG exports is mainly due to maintenance at Cheniere’s Sabine Pass facility, which produces 4.5...

Natural Gas Pipeline

Energy Transfer extends its Lake Charles LNG supply agreement with Chevron

Energy Transfer, a pipeline operator, announced on Wednesday that it would supply U.S. oil giant Chevron an additional 1,000,000 tonnes of liquefied gas per year (mtpa), from its Lake Charles LNG Export Facility. After the 2 mtpa contract signed last year, the 20-year deal brings the total volume contracted for LNG by Chevron up to 3 mtpa. After President Donald Trump, commercial activity in the LNG sector has increased in the U.S. Lifting a moratorium After taking office in January, the new administration will begin issuing LNG export permits. The Lake Charles project is one of the first to be...

LNG Transportation

Cheniere board approves Corpus Christi LNG expansion project

Cheniere Energy announced on Tuesday that its board has approved the final investment decisions for the expansion project of Corpus Christi's liquefied gas project. Bechtel Energy, the largest U.S. exporter of LNG, said that it has been asked by CCL Midscale Trains 8 and 9 to begin construction. Cheniere plans to double the current LNG production at Sabine Pass to 90 million tonnes per year by expanding export facilities in Corpus Christi and Sabine Pass. The company also said that it is working on expanding brownfield liquefaction capacities at the Corpus Christi terminal and Sabine Pass Terminal. The company plans...

LNG Transportation

LSEG data indicates that the Cheniere Sabine LNG Plant in Louisiana is on track for exit reduction.

According to data provided by financial firm LSEG, the amount of natural gases flowing to U.S. liquefied gas company Cheniere Energy’s Sabine Pass Export Plant in Louisiana is on track to reach a preliminary 3-week high on Monday. Energy traders noted that an increase in gas flow and a Cheniere notice that it had completed work on the pipeline that supplies gas to the plant by June 20 are signs that the facility is exiting a maintenance period of three weeks. According to LSEG, gas flows in the 4.5 billion cubic feet per day Sabine region were expected to reach...

LNG Transportation

Bousso: Section 899 could wreck Trump's energy dominance plan

Section 899 proposes a tax of up to 20% on the income of foreign investors The proposal is included in President Trump's tax bill signature The tax could have a major impact on the profits of European oil giants Ron Bousso LONDON, 12 June - A proposed U.S. Tax targeting foreign investors may hurt European Energy Giants that operate in America’s booming Oil and Gas Sector, undermining President Donald Trump’s energy dominance agenda. The Senate is reviewing Trump's tax and spending plan, which includes an extra tax of up 20% on the incomes of foreign investors such as dividends or...

LNG Transportation

Cheniere wants to expand Sabine Pass plant in US with regulators

According to a FERC report, Cheniere Energy, which is the U.S.'s largest exporter of liquefied gas, has asked the Federal Energy Regulatory Commission to grant permission for the expansion of its Sabine Pass facility. Cheniere submitted a joint request, dated 6 June, to FERC, for authorization to build and operate the Sabine Pass Stage 5 Expansion Project. This project would expand the existing Sabine Pass LNG Facility in Louisiana. With a capacity of 30,000,000 metric tons per year (mtpa), the Sabine Pass terminal is the largest LNG facility in the United States. Six liquefaction train are in operation. According to...

LNG Transportation

Venture Global shares increase after it announces CP2 site work

Venture Global Inc.'s shares rose nearly 20% on Tuesday, after the Louisiana-based producer of LNG announced that it had started construction on its proposed CP2 facility in the state following federal approval. CP2 is the largest LNG export facility for the United States, with a capacity of 20 million metric tons per year. This will help the nation remain competitive. The world's largest supercooled gas exporter The company stated that CP2 expects to deliver the first LNG in 2027, and has already made significant progress in terms of engineering, procurement, and contracting. Venture Global stated that off-site maintenance of the...

Europe

LNG Transportation

Asian spot LNG prices rise as hot weather increases cooling demand

The Asian spot price of liquefied gas (LNG), which is a form of natural gas, increased this week due to a heatwave that swept Japan and North Korea. Meanwhile, industrial demand in China was subdued. Average LNG price for August deliveries into North-east Asia Industry sources estimate that the price per million British Thermal Units (mmBtu) is now $12.90, up from $12.70/mmBtu a week ago. Estimated price for September was $12.70/mmBtu. Prices have increased this week due to a heatwave across north-east Asia. Seoul experienced its hottest day in 2018 and South Korea and Japan are reducing their LNG stocks...

LNG Transportation

Gas prices will not rise due to LNG Canada's launch despite glut of supply

The start-up last month of LNG Canada, Canada's first large-scale facility for liquefied gas exports, failed to raise Western Canadian natural-gas prices as fast as some observers and market participants expected. This is due to the persistent glut of supply and the slow pace of the facility ramp-up. Shell-led LNG Canada delivered its first cargo, 70,000 metric tonnes of natural gas to South Korea on June 30. The new export facility in northern British Columbia is expected to add 2.1 billion cubic foot per day of gas to Western Canada. It will also help to recover gas prices from a...

LNG Transportation

Asian spot LNG price at 4-month-high on supply concerns

This week, Asian spot LNG prices reached their highest level in the past four months due to concerns about disruptions of supply caused by the Israel-Iran war. Average LNG price for August deliveries into North-east Asia According to industry sources, the price of gas was $14.00 per million British Thermal Units (mmBtu), an increase of 11% over $12.60/mmBtu from last week. This is also the highest since February 21. Israel launched an attack on Iran last Friday after claiming that Tehran was close to developing nuclear weapons. Iran, which claims its nuclear program is for peaceful purposes only, responded with...

East Asia

North Asia

LNG Transportation

EU energy policy caught between US gas and Chinese green technology: Bousso

Since the Russian gas phaseout, EU dependence on US LNG has increased. China dominates the EU's renewable energies supply chain EU-US trade deal sets unrealistic energy target Ron Bousso LONDON, 31 July - The European Union’s extravagant pledge to purchase $750 billion in U.S. Energy by 2028 could increase the bloc’s already excessive dependence on American Gas, at a time when it is increasingly dependent on Chinese technology for its energy transition. Under the new trade agreement with Washington, the EU has committed that it will increase its purchases of U.S. natural gas, coal and oil from $75 billion in...

LNG Transportation

The holes in EU Russia sanctions bring attention back to Trump's oil threat

EU sanctions unlikely impact Russia's oil revenues severely India and China could continue to buy discounted Russian crude Trump's secondary sanctions may pressure Russia, but they could also risk a global oil price spike Ron Bousso LONDON, JULY 22 - The latest European Union effort to restrict Russia’s oil revenues is unlikely to harm Moscow’s war effort significantly, leaving U.S. president Donald Trump’s threat of secondary sanction as one of the last remaining economic levers for pressure on the Kremlin. The EU agreed to the 18th set of sanctions against Russia on Friday, which Foreign Policy Chief Kaja Kallas described...

LNG Transportation

Asian spot LNG prices decline on muted demand, high inventories

The Asian spot LNG prices fell this week as a result of weaker demand, strong inventories and buyers in South Asia finding current prices too expensive. Average LNG price for September deliveries into North-east Asia Industry sources estimate that the price per million British Thermal Units (mmBtu) was $12.30, down from $12.90/mmBtu a week ago. Prices have been on a slow decline this week because of the abundance of supply and increased inventories. Toby Copson is the chairman of Davenport Energy Partners. He added that "Demand is still relatively weak at a macro level, with hubs in the U.S. and...

LNG Transportation

Asian spot prices drop on weak demand, rising supply

The price of Asian spot LNG (liquefied natural gases) fell this week due to a combination of factors: a weak demand, a rising supply, and an abundance in inventories. Meanwhile, the risk premiums were reduced by reducing the ceasefire between Israel & Iran. Average LNG price for August deliveries into North-east Asia Industry sources estimate that the price per million British Thermal Units (mmBtu) was $12.70, down from $13.10/mmBtu in the previous week. The market was under pressure from a combination of factors, including the rising Pacific supply, the high LNG stocks in China and South Korea and the weak...

LNG Transportation

The fear of an Iranian oil calamity in Hormuz is more than just a myth.

Fears of Middle East oil disruption after US strikes on Iran Iran has attempted to blockade the Strait of Hormuz in the past. US Navy is likely to respond quickly in the event of disruptions Ron Bousso LONDON, 22 June - The U.S. strikes against several Iranian nuclear sites are a significant escalation in the Middle East conflict. This could cause Tehran to disrupt essential exports of gas and oil from the region, causing a spike in energy prices. History tells us, however, that any disruption will likely be brief. Since Israel launched surprise airstrikes on Iran on June 13...

LNG Transportation

Asian area LNG gains amidst cooler weather condition, more powerful Europe gas costs

Asian spot melted gas (LNG) rates increased today to their greatest level of the year so far, tracking gains in European gas and amidst colder temperatures in both regions. The average LNG rate for January shipment into northeast Asia rose to $14.60 per million British thermal systems ( mmBtu), market sources estimated. Today's more escalations in between Russia and Ukraine have returned a high danger premium to European gas and by default Asia's JKM market, regardless of actual gas products being continuous, said Florence Schmit, energy strategist at Rabobank London, of the Asian Japan-Korea-Marker benchmark. European benchmark gas costs at...

LNG Transportation

Sanctioned tanker with Arctic LNG 2 cargo moving east along Northern Sea Route, data programs

A liquefied gas tanker approved by the U.S. has actually been moving east from the Arctic LNG 2 plant along Russia's Northern Sea Path, LSEG ship tracking information revealed on Monday. Washington has recently imposed additional sanctions versus Russia for its war with Ukraine, including versus Arctic LNG 2, an important center for the Kremlin's drive to boost Russia's. share of the global LNG market to a 5th by 2030-2035. According to the LSEG information, Everest Energy, which came under. U.S. sanctions last month, was packed with LNG at the Arctic LNG. 2 site and is now on its method...