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Peru And Mexico Renegotiate Contract At Manzanillo
August 01, 2012 |
| As deliveries into the new import terminal at Manzanillo on Mexico’s Pacific coast ramp up, Mexican and Peruvian authorities have returned to the bargaining table to renegotiate pricing and other terms under Repsol’s contract with state-owned power generator CFE. |
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Spot Market Slides As Traders Search For Direction
August 01, 2012 |
| Asian spot prices continued their slide in July and are now trading in the mid-$13/MMBtu range. Traders reckon the market could remain at this level for another couple of months as buyer appetite for LNG in the East remains muted. |
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European Buyers Eye August For LNG Rebound
August 01, 2012 |
| A slack Asian market has raised hopes that Europe might at last see an uptick in LNG imports. Data for July suggest buyers will have to wait until August for any rebound, however. |
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Floating Import Schemes Proliferate In Mideast Gulf
August 01, 2012 |
| As hydrocarbon rich Mideast Gulf countries confront a lack of gas to fuel their rapidly growing economies, they are increasingly turning to imported LNG. Deliveries into the region through floating regasification terminals could triple this decade. |
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Power Shortages Drive LNG Expansion In Chile
August 01, 2012 |
| To keep the economy on an expected 5% growth rate, Chile needs to add 8,000 MW to its 17,000 MW power system by 2020. Given the immediate need for more gas, two new LNG import terminals, both employing floating regasification vessels, are in the works. |
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Financially Traded LNG Swaps Seek Niche Role
August 01, 2012 |
| The first exchange-cleared, financial LNG derivative contract, or LNG swap, traded in mid-July via the Chicago Mercantile Exchange’s European office. |
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Queensland’s Australia Pacific LNG Sanctions Train 2
August 01, 2012 |
| ConocoPhillips and Origin Energy announced on July 3 a final investment decision for the second 4.5 MMt/y train at their Australia Pacific LNG project being built at Gladstone in the state of Queensland. Doubling APLNG’s capacity significantly reduces unit production costs and boosts the venture’s financial robustness. |
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Indonesia Battles To Stem Decline At Bontang LNG
July 02, 2012 |
| Total is struggling mightily to stem the decline at Bontang’s ageing Mahakam license, including drilling 107 wells on mostly mature structures in 2012. But it has been forced to cut Mahakam’s production forecast to 1.8 Bcf/d in 2012, which will reduce the cargo count to 208. |
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Active Charter Market As Angola Frees Up Ships
July 02, 2012 |
| Delays at Angola LNG have freed up some of its ships for short-term employment, with the producer chartering out at least four of its seven vessels for 30-day voyages. |
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Queensland Projects Confront Upstream Challenges
July 02, 2012 |
| Lagging results in Queensland’s coal bed methane sector have heightened concerns about delays and further cost blowouts at the three LNG projects already underway by joint ventures led by BG, Santos and Origin Energy in the northeast Australian state. |
