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December 6, 2018
Tellurian signs MOU to supply LNG to Vitol
Tellurian announced that its subsidiary, Tellurian Trading UK has entered into a Memorandum of Understanding with Vitol to supply 1.5 MTPA of LNG from Tellurian Trading’s LNG offtake capacity at the proposed Driftwood LNG export terminal. The transaction price is based on the Platts JKM and is for a minimum term of 15 years.
Under the MOU, Tellurian and Vitol have agreed to negotiate an LNG SPA under which Vitol will purchase LNG free on board. The SPA will contain certain conditions precedent, including Tellurian’s receipt of regulatory approvals and a final investment decision to construct the Driftwood LNG export terminal.
Edited from Tellurian press release.
December 5, 2018
Tokyo Gas signs Joint Development Agreement for LNG receiving terminal in the Philippines
Tokyo Gas signed a joint development agreement regarding the construction and operation of an LNG receiving terminal in the Philippines with First Gen Corporation. Tokyo gas mentioned that this was the first energy infrastructure development activity that it participated to the Philippines. The project aims to construct and operate the first LNG receiving terminal in the Philippines to introduce LNG as an alternative supply source to the indigenous gas field which is expected to decrease in production and to be depleted in the near future.
First Gen is an independent power producer, subsidiary of Lopez Group, one of the conglomerates in the Philippines. It is the largest natural gas consumer and owns approximately 60 percent of gas-fired power plants in the nation.
Edited from Tokyo Gas press release.
November 29, 2018
Vitol signs HOA to purchase LNG from Petronas
PETRONAS and Vitol signed a binding HOA for long-term LNG SPA. Under the terms of the agreement, the LNG supply to Vitol commencing in 2024 will be approximately up to 0.8 MTPA for a period of up to 15 years on both DES and FOB basis.
The primary supply to Vitol will come from LNG Canada as well as from other Petronas’ global LNG supply portfolio. LNG Canada is an LNG project located in Kitimat, British Columbia, Canada of which PETRONAS is one of the joint venture participants with equity holding of 25%.
Edited from Vitol press release.
November 26, 2018
Yamal LNG completes the first ship-to-ship LNG transshipment
NOVATEK announced that its joint venture Yamal LNG completed the first ship-to-ship LNG transshipment in the area near the port of Honningsvag in northern Norway. The Arc7 ice-class LNG tanker “Vladimir Rusanov” successfully reloaded an LNG cargo delivered from the Yamal LNG facility at Sabetta to the lower ice-class designated tanker “Pskov”, which then delivered the reloaded cargo to customers in North-West Europe.
Lev Feodosyev, NOVATEK’s First Deputy Chairman of the Management Board mentioned that this transshipment allowed the company to optimize its transport costs by decreasing the travel distance of the Arc7 ice-class tankers and to ensure timely offloading of LNG from Yamal LNG project.
Edited from NOVATEK press release.
November 12, 2018
GIIGNL releases the "Fukuoka Declaration"
On November 12, 2018, the GIIGNL Members gathered in Fukuoka, Japan on the occasion of their 48th annual General Assembly. The members issued a common declaration to express their belief in the fact that "LNG is a clean, affordable and flexible solution which is uniquely placed to meet the energy challenge while enhancing competitiveness and national energy security".