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August 27, 2018
Total sells equity in Hazira terminal and signs SPA with Shell
Total has signed a binding LOI with Shell for the sale of its 26% minority equity stake in Hazira LNG regasification terminal in India. The transaction remains subject to the approval of regulatory authorities.
In parallel, Total has signed an agreement to sell 0.5 MTPA to Shell over 5 years, on a delivery basis to supply the markets of India and neighboring countries. The deliveries will be sourced from Total’s global LNG portfolio and are expected to begin in 2019.
Edited from Total press release.
August 17, 2018
PNG LNG signs 5-year LNG supply deal with BP
PNG LNG project co-venturers have signed a mid-term LNG SPA with BP Singapore for the supply of LNG commencing in August 2018. The mid-term SPA is for the supply of approximately 0.45 MTPA of LNG for the first three contract years rising to approximately 0.9 MTPA in the final two contract years.
This SPA takes the total contracted volumes from the project to 7.5 MTPA, with 7.0 MTPA of PNG LNG's annual output already committed under long-term contracts to JERA, Osaka Gas, Sinopec and CPC and the mid-term sale to PetroChina.
Edited from Santos press release.
August 17, 2018
Mitsubishi Corp to acquire 25% in Summit LNG terminal
Mitsubishi Corporation (MC) has agreed to acquire a 25% interest in Summit LNG Terminal and to develop a LNG receiving terminal that uses a FSRU in Bangladesh. With the acquisition, 75% of Summit LNG Terminal will be held by Summit and 25% by MC.
Under the project, Summit LNG Terminal will install an FSRU 6km off the coast of the island of Moheshkali in the Cox Bazar District of Chittagong Division in Bangladesh, where it will receive and regasify LNG procured by Petrobangla, the national oil and energy company. Construction of the terminal commenced at the end of 2017 and commercial operations are expected to start in March 2019. The planned LNG import volume is approximately 3.5 MTPA.
Bangladesh, with its expanding population, and an economic growth rate of more than 6% per annum, is also seeing a rapid increase in electricity demand. While gas-based generation accounts for approximately 60% of total generation, domestic natural gas production is starting to decline. The country is therefore promoting LNG imports as part of its national energy policy. Bangladesh started to import LNG in 2018, with a targeted import volume of 17 MTPA in 2030.
In addition to this project, Summit and MC have agreed to jointly pursue other projects across the LNG value chain in Bangladesh, from LNG supply to power generation. On 13 March 2018, MC and Summit signed a Memorandum of Understanding to pursue jointly an integrated LNG-to-Power development consisting of onshore LNG receiving terminal with a regasification capacity of up to 1,500 MMcfd, associated LNG supply and construction of 2,400 MW gas-powered thermal power plant.
Edited from Mitsubishi Corporation press release.
August 17, 2018
Panama inaugurates first LNG terminal
AES Corporation inaugurated AES Colón, a 381 MW combined cycle power plant and the Costa Norte LNG facility, the first LNG receiving terminal in Central America. The plant and regasification terminal are expected to begin commercial operations on September 1, 2018 and the LNG tank, which will be the largest in the Caribbean, is expected to begin operations on schedule in the second half of 2019.
The Costa Norte terminal consists of a 180,000cbm LNG tank, a jetty and regasification facilities. Total capacity of the LNG terminal is expected to be 1.5 MTPA.
Edited from AES Corporation press release.
August 15, 2018
Skangas signs LNG supply deal with Finnsementti
Skangas and cement manufacturer Finnsementti have entered into an agreement on the supply of LNG to the Raahe blast-furnace slag plant for production process use. Finnsementti will use LNG in the cement production process to dry aggregates. The energy switch from fuel oil to LNG will improve the efficiency rate and reduce the company's carbon dioxide emissions.
LNG will be delivered to the Finnsementti Raahe plant by road tanker from the Tornio Manga LNG terminal co-owned by Skangas. Before being used, LNG will be regasified on the site. The Technical Services of the Skangas parent company Gasum will design and implement the equipment deliveries and installations relating to the introduction of LNG at the Raahe blast-furnace slag plant.
Edited from Skangas press release.