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January 4, 2017

Chevron resumes operation at Gorgon LNG train 1

Chevron Corp said today that the Train 1 of Gorgon LNG facility resumed production earlier this week after being shut since late November last year to assess and address some performance variations. Train 2 production was unaffected and Chevron continued to produce LNG and load cargoes during this time, the company said. 
The $54 billion project has suffered several operational issues since it started up in March 2016. It was shut from April to mid-June due to a problem in the propane refrigerant circuit. It was also shut in July after a gas leak was detected.

Production from Gorgon Train 2 started in October and Train 3 is expected to come online in the 2Q2017. When complete the project will have a total capacity of 15.6mtpa. Gorgon's shareholders are Chevron(operator) (47.33%), ExxonMobil (25%), Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and JERA (0.41%). 

December 29, 2016

BP and PTT sign SPA

BP and PTT entered into a SPA for LNG. Under the agreement, BP will provide PTT with approximately 1mtpa of LNG. The term of the agreement is 20 years. LNG supply will commence in 2017 and will be sourced from BP’s portfolio, including the Freeport LNG Project in the USA. 

Edited from BP press release. 

December 21, 2016

Vopak and Exmar sign agreement on FSRU transaction

Following the announcement on 2 September 2016 that Vopak and Exmar had started exploratory discussions on floating LNG storage and regasification, both companies signed an agreement regarding the acquisition of the FSRU business of Exmar by Vopak and the possible cooperation between Vopak and Exmar in future projects. The agreement on the acquisition envisages the transfer in stages of Exmar's participation in FSRU assets, FSRU projects under development and a corresponding part of the Exmar organisation.

The finalization of the deal is subject to consent and cooperation of multiple stakeholders including current partners in the FSRU's and customary approval from authorities.

Edited from Vopak press release.

December 20, 2016

Total makes $207 million investment in Tellurian

Tellurian and Total announced today that Total will acquire approximately 23% of Tellurian at $5.85 per share for an amount of $207 million to develop an integrated gas project, from the acquisition of competitive gas production in the US to the delivery of LNG to international markets from the Driftwood LNG terminal.
Driftwood LNG is in the engineering design and pre-filing phase of the project. The FERC approved Driftwood LNG’s pre-filing request on June 6, 2016. Tellurian expects to commence construction of Driftwood LNG in 2018 and produce first LNG volumes in 2022.
Edited from Total press release. 

December 15, 2016

Höegh LNG signs a 20-year FSRU charter agreement in Pakistan

Höegh LNG signed today an FSRU contract with Global Energy Infrastructure Limited (GEIL) for GEIL's LNG import project in Port Qasim near Karachi, Pakistan. The project is the first private LNG import terminal in Pakistan. On 29 September 2016, GEIL signed a long-term LNG supply agreement with Qatargas.

The charter is for a period of 20 years with two five year extension options for charterer and is expected to generate an average annual EBITDA of around USD 36 million. The contract is subject to both parties' board approval. The construction of the terminal is planned to commence early 2017 and expected start-up is second quarter of 2018. The FSRU will be provided from Höegh LNG's portfolio of FSRUs, including units under construction, planned conversions or new orders.

Edited from Höegh press release.