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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.
June 2, 2015
ENGIE and Novatek sign LNG SPA from Yamal
ENGIE and NOVATEK have concluded today an LNG Sales and Purchase Agreement from the Yamal LNG project. Under the FOB agreement, ENGIE will receive 1 million tons per year over a 23-year period starting 2018. This represents 14 cargoes per year which will be delivered from Yamal Trade icebreaker LNG carriers at the Montoir-de-Bretagne LNG terminal (ENGIE), on the western coast of France, where NOVATEK will transfer the LNG, via a transshipment service operated by Elengy, to ENGIE vessels. The LNG will be further delivered anywhere in the world depending on client’s needs.
May 13, 2015
Cheniere takes FID on Corpus Christi liquefaction project
Cheniere Energy, Inc. announced that its Board of Directors has made a positive Final Investment Decision with respect to its liquefaction project near Corpus Christi, Texas and has issued a notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. to construct the first two natural gas liquefaction trains. The CCL Project is designed for up to three trains with expected aggregate nominal production capacity of approximately 13.5 million tonnes per annum, three LNG storage tanks with capacity of approximately 10.1 Bcfe, two LNG carrier docks and a 22-mile, 48" natural gas supply pipeline. The first train is expected to start operations as early as 2018, with the second train expected to commence operations approximately six to nine months thereafter.
"We have initiated construction on our second LNG export facility, the Corpus Christi liquefaction project, located on the Coastal Bend of Texas along the Gulf of Mexico. Including our LNG export facility at Sabine Pass, we now have six trains under construction, with first LNG expected at Sabine Pass from Train 1 by year end," said Charif Souki, Chairman and CEO of Cheniere. "For these major projects, getting to the point of commencing construction represents the culmination of years of dedicated hard work by all of our employees, Bechtel, other strategic partners, and legislative and government officials. We would like to thank all for their efforts and look forward to successful project execution in Corpus Christi."
Total project costs of approximately $11.5 billion for the first two trains, two LNG storage tanks, one dock and the natural gas supply pipeline will be funded with approximately $3.1 billion of project equity and approximately $8.4 billion of debt.
April 29, 2015
Panama Canal New Tolls Structure Approved
The Cabinet Council of the Republic of Panama has officially approved a proposal to modify the Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors.
The accepted proposal-which modifies the pricing structure for most Canal segments-will better facilitate the Canal's goal of providing outstanding service and reliability to the global shipping and maritime community while allowing the ACP to safeguard the competitiveness of the waterway.
Today's passage follows more than a year of informal consultations with representatives from various industry segments, an open call for comments, and a public hearing to solicit industry feedback on these changes.
"After working in close cooperation with our partners in the maritime industry, I am pleased we will be able to provide a more bespoke pricing solution for our customers; one that recognizes their various needs and requests, while still appreciating the value and reliability provided by the route," said Panama Canal Administrator/CEO Jorge L. Quijano.
Most segments will now be priced based upon different units of measurement to meet and align with the diverse traffic transiting the locks. For instance, dry bulkers will be based on deadweight tonnage capacity and metric tons of cargo. Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) vessels, will be based on cubic meters and tankers will be measured and priced on Panama Canal Universal measurement system (PC/UMS) tons and metric tons of cargo. Container ships will continue to be measured and priced on TEUs and passenger vessels will continue to be based on berths or PC/UMS. In addition, a new Intra Maritime Cluster segment has been created which includes local tourism vessels, marine bunkering and container transshipment vessels that do not compete with international trade.
The tolls restructuring will also be implemented alongside a customer-loyalty program for the container segment, a first for the ACP. Frequent container customers will now receive premium prices, once a particular TEU volume is reached.
"The ACP deeply values the relationships we share with our customers," Quijano continued. "As we prepare for the completion of the Canal's Expansion Program, we look forward to continuing to provide the same superior reliability, service and value to our customers, as well as now accommodate longer, wider ships and the new LNG segment."
The newly approved toll adjustments for all market segments are scheduled to go into effect on April 1, 2016, except for the new Intra Maritime Cluster Segment which go into effect with this approval.
March 30, 2015
Gate terminal starts construction of LNG break bulk facility at the port of Rotterdam
• Gate terminal to be expanded with harbour basin for small scale LNG with a maximum capacity of 280 berthing slots per year
• New infrastructure will enable distribution of LNG as low emission fuel alternative to transporters all over Europe
• Port of Rotterdam has started ground breaking for new multi-user LNG break bulk facility
• Full scope of LNG services strengthens position Gate terminal and Port of Rotterdam as leading European LNG hub
• Shell is launching customer
• Commissioning and commencement of the first services scheduled towards the end of H1 2016
January 5, 2015
Panama Canal Tolls Proposal published
On January 5, 2015, the Panama Canal Authority published its proposal to modify the tolls following the canal expansion program.
A special segment was created to incorporate LNG vessels. As for LPG carriers, the toll proposal uses cubic meters as a measurement unit, and is based on the use of four bands of cargo capacity. LNG carriers of 173 000 cubic meters capacity will pay $380 480. In ballast mode, they will pay $334 830.When transiting round-trip, LNG carriers will pay $300 000 in ballast mode. In the proposal, the ballast rate will be applied to the LNG carriers transporting up to a maximum of 10% of cargo capacity.
You can read the Panama Canal Proposal here