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You will find in this section the latest public news regarding the liquefied natural gas market, regulation and innovations. Please type any keyword in the search box and /or use the  ”area”, “topic” and “date” filters to refine your search. Feel free to submit your news to GIIGNL using the contact form.

 

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. 

December 14, 2016

Turkey’s first FSRU takes position

The Höegh-owned, Engie-chartered FSRU GDF Suez Neptune has arrived near Aliaga, on the Agean Sea. The FSRU will be positioned at the new Aliaga FSRU jetty, which is reported to be still under construction and it will supply up to 3.6mtpa of LNG.

Turkey has two land-based LNG-import terminals, Aliaga and Marmara Ereglisi and the FSRU will be used as a third LNG import terminal. 

December 13, 2016

Centrica signs a 5-year SPA with JERA

Centrica has signed a 5-year SPA with JERA. Under the terms of the SPA, which commences in April 2019, Centrica will purchase up to 6 cargoes per annum at the Isle of Grain Terminal in the UK and work with JERA to optimise the volume.The SPA follows the execution earlier this year of a MOU between Centrica and JERA to collaborate in the LNG business.

JERA was formed in April 2015, combining the fuel procurement businesses of Tokyo Electric (TEPCO) and Chubu Electric.

Edited from Centrica press release. 

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