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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.

 

October 22, 2020

Naturgy extends LNG SPA with Puerto Rico

Naturgy and the Puerto Rico Electric Power Authority extend until 2032 their LT LNG supply contract which was set to expire in October 2020. The new agreement extends supplied quantity from 1.5 bcm to 2 bcm (up to 3 bcm depending on the country's needs) and changes the indexation from HH/Oil (50/50) to 100% HH. The LNG will come from Naturgy's portfolio of contracts, which at 50% is sourced from American LNG.

Edited from Naturgy’s press release

 

October 22, 2020

FERC authorizes Acadiana pipeline

Kinder Morgan pipeline company has received permission from the US Federal Energy Regulatory Commission to start construction of the proposed Acadiana natural gas pipeline project in Louisiana. The Acadiana pipeline, linked to the Cheniere Energy Sabine Pass LNG export plant, will handle deliveries from the growing Haynesville Shale production and will deliver additional feed gas when the sixth liquefaction train of Sabine Pass enters service around 2022 raising overall output to 27 MTPA.

 

October 22, 2020

Gazocean becomes a full subsidiary of NYK

Japanese shipping company NYK Line has signed a sales and purchase agreement with French energy company Total to acquire all Total shares (80% before the purchase) in ship management company Gazocean. The deal makes Gazocean a wholly-owned subsidiary of NYK, which strengthens its ship-management system and expands its LNG transportation business in France. Currently Gazocean is responsible for the management of six LNG carriers.

Edited from NYK Line’s press release

 

October 20, 2020

YPF terminates Tango FLNG charter

Belgian shipping line Exmar has reached a settlement agreement with Argentine oil and gas company YPF SA over the dispute started in June 2020 under the Tango FLNG. Liquefaction activities at Tango LNG were stopped by YPF in May 2020 with the start of winter season in the Southern Hemisphere. A settlement amount of US$150M will be paid by YPF to Exmar for the early termination of their charter agreements and the withdrawing of arbitration proceedings. The production barge is now available for hire.

 

October 20, 2020

Squadron acquires Port Kembla terminal project

Squadron Energy has acquired Marubeni and JERA’s interests in Australian Industrial Energy Pty Ltd (AIE), the vehicle used to develop the Port Kembla LNG import terminal, to become 100% owner and operator of the project. Squadron is committed to the expedited development of the PKGT with the objective of having the capacity to supply more than 70% of New South Wales gas needs by late 2022.

Edited from AIE’s press release

 

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