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Six new state-of-the-art LNG vessels joined BP Shipping

British Partner, British Achiever, British Contributor, British Listener, British Mentor and British Sponsor have all joined the BP Shipping fleet. Each ship can carry a cargo of LNG equivalent in volume to 69 Olympic sized swimming pools and they deliver this low carbon energy to customers with 20% less CO2 emissions when compared to industry benchmarks. BP Shipping has more than 30 years’ experience operating LNG ships. When BP Shipping designed the vessels to support IST operations, they had to consider operational flexibility, energy efficiency and new and more challenging port calls and canal transits. Enabling technology, ship/shore compatibility and increased ship manoeuvrability were key focus areas.

The technology on-board these vessels places BP Shipping as a technical leader in LNG transportation

Don’t just take BP Shipping’s word for it, the ships have been proven to exceed expectations in terms of operational flexibility, efficiency and reduction of waste. From a business benefit perspective, the ships are already confirmed as being 25% more efficient than industry benchmarks at the time of contract award and they are the first BP Shipping LNG carriers to be accredited under BP’s Advancing Low Carbon programme.

International Gas within IST is our primary customer and feedback from them has been excellent. Tom Pollock LNG Analyst told us “ Based on analysis of gas trials data we are now seeing a reduction in fuel consumption when compared to our previous Helios award winning LNG carriers, the Gem Class.” Fuel consumption is a major contributor to running costs and this is a huge saving amounting to approximately USD 20 million less spend per ship per year.

Source : Strategic Research Institute
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McDermott completes final offshore campaign for Ichthys LNG Project

McDermott International Inc has recently successfully completed the final offshore campaign for the INPEX-operated Ichthys LNG Project, located offshore Western Australia. This was the second of two remaining work packages left under McDermott's contract, which was the largest subsea contract ever awarded at the time. Most of the EPCI for the SURF contract awarded in January 2012 was completed by the end of 2017. The final offshore campaign involved subsea tiebacks to new drill centers and was executed by McDermott's Lay Vessel 108 (LV 108). The vessel has recorded 813,694 hours without any lost time incidents (LTI) since its first campaign in 2015.

Mr Ian Prescott, McDermott's Senior Vice President for Asia Pacific, said that "The final campaign was executed in a live producing field, and as such, we put in place additional risk and controls management that ensured our success and met all of the customer expectations. This has demonstrated McDermott's execution capability on a large-scale, complex SURF EPCI scope. Our outstanding record of accomplishment confirms our expertise and ability to execute one of the world's largest subsea contracts to date."

McDermott recorded more than 500,000 engineering workhours from offices across the world, including a Perth led Project Management team that was in place from 2012 and consisted of 160 personnel at its peak in 2017; procured over USD 600 million in-field equipment; built 48 subsea structures weighing a total of approximately 28,660 tons (26,000 metric tons) that included one of the largest riser support structures in the world at the time and used three of the company's deepwater installation vessels (DLV 2000, LV 108 and Intermac 650) and other contracted vessels to execute the project.

Source : Strategic Research Institute
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'Shell wil belang lng-project Indonesië verkopen'

Gepubliceerd op 3 mei 2019 om 13:38 | Views: 498

Royal Dutch Shell A 14:06
29,01 +0,42 (+1,45%)

LONDEN (AFN) - Olie- en gasconcern Shell wil zijn belang in een groot Indonesisch lng-project verkopen. Dat meldden ingewijden rond de zaak aan persbureau Reuters.

Het gaat om het Abadi-gasproject waarin Shell een belang van 35 procent heeft. De rest is in handen van het Japanse Inpex. Shell zou mikken op een prijs van 1 miljard dollar voor zijn belang. De bouw van het project zou eigenlijk vorig jaar al moeten beginnen, maar heeft vertraging opgelopen tot zeker 2020.
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US LNG exports to EU up by 272%

In their Joint Statement of 25 July 2018 in Washington DC, President Juncker and President Trump agreed to strengthen EU-US strategic cooperation with respect to energy. They came in particular to an understanding on the benefits of expanded exports of US liquefied natural gas to the EU gas market. Since the first cargo in April 2016 US LNG exports to the EU have been increasing substantially and have seen a steep rise after President Trump and President Juncker’s meeting in July 2018 increasing by 272%. As a result, March 2019 recorded the highest volume ever of EU-US trade in LNG with more than 1.4 billion cubic metres.

Energy and Climate Miguel Arias Cañete said “Energy security is one of the key success stories of our transatlantic cooperation and one where we both have a keen mutual interest. It is therefore our common objective to further deepen our energy cooperation. Natural gas will remain an important component of the EU’s energy mix in the near future as we move towards cleaner sources of energy. Given our heavy dependence on imports, U.S. liquefied natural gas, if priced competitively, could play an increasing and strategic role in EU gas supply.”

US Secretary of Energy Rick Perry said “This discussion follows on last July’s joint statement by President Trump and President Juncker on strengthening our strategic energy partnership. We share a history of transatlantic cooperation, through good times and bad, and together we promote our heritage of freedom. The strength of this relationship can particularly be seen in energy. When it comes to natural gas, we each have what the other needs to derive tremendous mutual benefit from advancing our energy relationship.”

Current figures show that

In the nine months since the 25 July 2018 Joint Statement, cumulative EU imports of US LNG are up by 272% relative to the period beforehand, a total of 10.4 billion cubic meters (bcm).

In terms of the EU’s total imports of LNG, the US share was 13.4% over the last six months, compared to 2.3% before the Joint Statement.

Since early 2016, the EU has received more than 110 LNG cargoes from the US. In 2017 Europe represented more than 10% of total US LNG exports, up from 5% in 2016. In the 2018 calendar year, some 11% of US LNG exports went to the EU market. However, in the 9-month period since the Joint.

Source : Strategic Research Institute
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Number of LNG tankers passing through Panama Canal in 2018 up 77%

According to the Panama Canal Authority, the number of LNG tankers through the expanded Panama Canal in 2018 increased 77% year on year. Looking at the volume of LNG carriers transiting the canal so far in 2019, this year’s total could match 2018’s number or increase this year if good weather conditions permit. As of March, 194 LNG tankers passed through the canal, the canal authority has reported. This represents 67% of the last year’s total of 290. In 2017, the total was 163, while it was only 17 in 2016.

Since its expansion in June 2016, of the 6,000 Neopanamax ships that have transited to date more than 50% have been container ships, 26% have been LPG carriers and LNG carriers have been 11%. Dry and liquid bulk carriers, car carriers and cruise ships have made up the remaining transits.

According to the PCA, more than 90% of the LNG world’s fleet can now transit the Panama Canal and this allows LNG producers in the Atlantic Basin, mainly those on the US Gulf Coast, to send cargoes to Asia, where 70% of the global demand is found.

The PCA last year doubled to two its guaranteed daily slots for LNG tankers. It also lifted some daylight restrictions for the ships.

However, due to a severe drought caused by an El Nino,thePCA has reduced the maximum authorized draft for vessels transiting the Neopanamax locks for the fifth time this year. The drought has reduced water levels in two of the canal’s largest tributary lakes. The draft restrictions are likely to reduce canal traffic significantly, which can lead to finding other routes or the option to pass through the canal with less cargo, making such exports less competitive. The latest maximum authorized draft is 13.41 meters (44 feet), effective April 30.

Source : Platts
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Qatar Petroleum issues tender for LNG storage and loading facilities for the North Field Expansion Project

Qatar Petroleum issued an Invitation to Tender Package for Engineering, Procurement and Construction to expand its common lean liquefied natural gas storage, and the loading and export facilities for its North Field Expansion Project. The tender package, which was issued to world class contractors, calls for the engineering, procurement and construction of three LNG storage tanks; compressors to recover tank boil off gas during storage and jetty boil off gas during LNG vessel loading; LNG rundown lines from the LNG trains to the LNG storage area; two additional LNG berths with an option for a third LNG berth; and loading and return lines from the LNG berths to the tanks.

Qatargas is entrusted with executing this mega-project on behalf of Qatar Petroleum. As the World’s Premier LNG Company, Qatargas has an established history in delivering such major projects and in operating various onshore and offshore facilities in the North Field with a high degree of reliability and operational excellence.

Source : Strategic Research Institute
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PETRONAS completes LNG break bulking STS transfer for China delivery

Petroliam Nasional Bhd, through its subsidiary PETRONAS LNG Ltd, strengthens its position as an LNG solutions provider through another successful completion of Liquefied Natural Gas break bulking ship-to-ship transfer, recently held in Brunei Bay. The break bulk operations saw the fully loaded Seri Bijaksana vessel carrying LNG cargo from Gladstone LNG, Australia, transferring smaller parcels onto two ‘daughter’ vessels for onward deliveries to different LNG terminals in Shanghai, China. The first cargo was transferred from the ‘mother’ vessel to an 80,000 m³ ‘daughter’ vessel, Arctic Spirit, while the second cargo transfer was done with another similar size ‘daughter’ vessel, Polar Spirit.

The back-to-back break bulking STS transfers via Arctic Spirit and Polar Spirit vessels were completed in approximately 72 hours, manifesting a just-in-time principle, driving the operational cost to the minimum level.

The completion of the STS was a collaborative effort with various stakeholders namely the Department of Ports and Harbour of Sabah, Sabah Ports Authority, Sabah Ports Sdn Bhd, Argo Engineering Sdn Bhd, Eastport Marine Sdn Bhd, MISC Bhd, Asian Supply Base Sdn Bhd, Teekay LNG Partners L.P., and Shenergy Group Co., Ltd.

In June 2018, PETRONAS completed its first STS operations at the same site in Brunei Bay, a location gazetted for STS operations due to its calm waters.

Source : Strategic Research Institute
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Sovcomflot concludes LNG vessels financing facility with 3 international banks

Sovcomflot said that it has signed a new USD 297 million limited recourse credit facility for up to ten years with three leading international banks: ING Bank; KfW IPEX-Bank, and Crédit Agricole Corporate and Investment Bank. The funds will be used towards pre- and post-delivery financing of two new-generation 174,000-cubic metres Atlanticmax LNG carriers, which will operate under long-term charters to Shell. The vessels feature a slow-speed dual-fuel X-DF diesel engine and gas boil-off partial liquefaction system and are scheduled for delivery in the second half of 2020. The addition of these vessels will grow the Group’s fleet of liquefied gas carriers to sixteen vessels and is fully in line with the chosen strategy of expanding long-term business with core clients.

This deal follows a similar USD 149 million credit facility signed in November 2018 between SCF Group and these three banks to finance the construction of a LNG carrier, which will operate on long-term charter to Total.

Mr Nikolay Kolesnikov, Executive Vice-President & CFO of Sovcomflot, said: “SCF Group is pleased with this new LNG project financing with its long-standing financial partners: ING Bank; KfW IPEX-Bank, and Credit Agricole CIB. We very much value the involvement of these three prominent lenders in this deal, which was accomplished in direct continuation of a similar LNG financing concluded with these banks in November 2018 and reflects the banks’ long-term and strong commitment to SCF Group. With the conclusion of this deal, the Group has addressed in full its capital expenditure funding requirements for the next two years.”

Meanwhile, Sovcomflot (SCF Group) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas exploration and production.

Source : Strategic Research Institute
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NIBC investeert in uitbater lng-tankstations

Gepubliceerd op 13 mei 2019 om 12:54 | Views: 661 | Onderwerpen: NIBC

ROTTERDAM (AFN) - Zakenbank NIBC heeft samen met investeringsfonds Rotterdam Port Fund een meerderheidsbelang genomen in ontwikkelaar en exploitant van lng-tankstations en producent van bio-lng (vloeibaar gemaakt aardgas) Rolande. Dat maakten de partijen bekend zonder financiële details af te geven.

Rolande, naar eigen zeggen marktleider in Nederland, werd opgericht in 2005. Het bedrijf werkt aan een Europees netwerk van lng-tankstations en helpt logistiek dienstverleners bij de overstap naar vloeibaar gemaakt aardgas als brandstof. De huidig grootaandeelhouder IVECO Schouten behoudt een significant belang in Rolande.

Naar verwachting wordt de transactie na het doorlopen van de relevante goedkeuringsprocedures in de eerste helft van dit jaar afgerond. Het Rotterdam Port Fund is een investeringsfonds, dat geld steekt in havengerelateerde bedrijven met een specifieke focus op duurzaamheid en de energietransitie. Het fonds is een initiatief van het Havenbedrijf Rotterdam, NIBC Bank en een aantal Rotterdamse ondernemers.
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Trade war cuts US liquefied natural gas exports to China

Reuters reported that no liquefied natural gas vessels that left the United States in March and April have gone to China, Refinitiv Eikon shipping data shows, as the trade war between the two nations escalates. The United States increased its tariffs on USD 200 billion in Chinese goods to 25% from 10%, rattling financial markets already worried the 10 month trade war between the world's two largest economies could spiral out of control.

So far this year, only two vessels have gone from the United States to China - one in January and one in February - versus 14 during the first four months of 2018 before the start of the trade war.

However, the data shows a handful of vessels from the United States are still sailing across the Pacific Ocean and some could end up in China. In 2018, 27 LNG vessels went from the United States to China, down from 30 in 2017. Most of those, however, left U.S. ports before the trade war started, with 18 tankers going to China in the first half of the year and just nine during the second half.

Executives at Cheniere Energy Inc, which owns two of the three big operating US LNG export terminals, said this week that the trade war is "unproductive and creates some added costs for our Chinese consumers" but "hasn't had an impact on us" and is not expected to have an impact going forward.

The United States and China started imposing tariffs on each other's goods in July 2018. As the dispute heated up, China added LNG to its list of proposed tariffs in August and imposed a 10-percent tariff on LNG in September.

Source : Reuters
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Panama Canal welcomes first Q-Flex LNG tanker

The Panama Canal welcomed Qatargas’ Al Safliya, the first Q-Flex and the largest liquefied natural gas tanker to ever transit the waterway. The tanker–which measures 315 meters in length and 50 meters in beam with an overall cargo capacity of 210,000 meters3 of LNG–transited northbound from the Pacific to the Atlantic Ocean.

Panama Canal Administrator Jorge L Quijano, said that “This transit reaffirms the Expanded Canal’s ability to reshape world trade and offer customers the benefits of economies of scale. The Panama Canal team is grateful for the industry’s continued confidence in our services and looking forward to welcoming many more Q-Flex vessels in the future.”

Qatargas’ Al Safliya Transiting the Expanded Canal on May 12. Q-Flex LNG tankers can now pass through the Panama Canal following an increase in the maximum allowable beam for vessels transiting the Neopanamax locks. Implemented in June 2018, the maximum beam allowed is 51.25 meters, up from 49 meters, as measured at the outer surface of a vessel’s shell plate and all protruding structures below the lock walls. Such an increase was made possible as a result of the efficiencies gained by the Panama Canal’s continued investment into its operations and resources, and due to the ongoing excellence and experience of its employees.

The milestone transit also underscored the Expanded Canal’s environmental benefits as a result of its ability to help vessels shorten the distance and duration of their trips compared to alternate routes. In combination with Al Safliya’s Q-Flex class design, which allows for the 40% reduction of emissions in comparison to other gas carriers, the Panama Canal and Qatargas saved nearly 10,000 tons of CO2 emissions compared to alternative routes, directly reducing of global emissions.

This achievement comes less than a month after the Expanded Canal celebrated its 6,000th Neopanamax vessel to transit, a milestone marked by another LNG tanker, Energy Liberty, on April 23.

Source : Strategic Research Institute
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Russian Gazprom considers Linde & Shell technologies for Baltic LNG

Gazprom board member Mr Vitaly Markelov said that Russian gas producer Gazprom is considering using technology made by industrial gases group Linde or Royal Dutch Shell at its Baltic LNG project. Russia does not have its own LNG technology. He said that "We've looked at the efficiency of both technologies and they basically have the same indicators in terms of workability. The rest is a question of negotiation."

He said that Gazprom has already started designing the Baltic LNG complex.

Royal Dutch Shell quit Gazprom's liquefied natural gas project near the Baltic Sea port of Ust-Luga last month after the Russian company moved to integrate its Baltic LNG project and gas processing plants.

Source : Strategic Research Institute
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Petronet LNG Q4 net falls 16% for Q4 2018-2019

Petronet LNG has reported a INR 440 crore profit for the Q4 of financial year 2018-2019. This is 15.87 per cent lower than the INR 523 crore bottom-line reported by the company in the same quarter of the last financial year. The company’s board of directors has recommended a 45 per cent dividend at INR 4.5 for each equity share of INR 10 each. The profits during the quarter under review have been hit by an inventory loss of INR 119 crore.

Mr Prabhat Singh , Managing Director and Chief Executive Officer, Petronet LNG, said that “The spot price of natural gas has fallen from $8.5 per million British thermal units at the beginning of the quarter to $4.3 per million British thermal. This has brought down the profit by INR 119 crore in the fourth quarter of financial year 2018-2019. Usually, we do not report inventory gain or loss numbers because they are notional. But this time, there were substantial inventory volumes and price fluctuations, leading to the hit. There was no impact of inventory loss or gain in the corresponding quarter of the financial year 2017-2018.”

There were also lower volumes during the quarter under review.

A company statement said that “During the quarter ended March 31, the Dahej terminal operated at around 104 per cent of its name plate capacity and processed 199 trillion British thermal units of gas.”

Source : Strategic Research Institute
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Louisiana export terminal starts LNG production - Total

French energy group Total said that the Cameron LNG export terminal in Louisiana had started up production of liquefied natural gas, with initial exports due in the coming weeks. The site is operated by Cameron LNG LLC which is jointly owned by Sempra Energy which has a 50.2% stake, while Total, Mitsui & Co Ltd. and Mitsubishi/NYK each have stakes of 16.6%.

Total chairman and chief executive Patrick Pouyanne, said that "With Cameron LNG start-up, we will achieve our target of being integrated along the gas value chain in the US since we are already a gas producer in the country."

Source : Strategic Research Institute
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Cameron LNG Liquefaction Project

Cameron LNG
Location
Hackberry, Louisiana, USA
Industry Served
LNG
Region
North America
Year Completed
2019
Scope of Work
Engineering, Procurement and Construction

Summary
McDermott and its joint venture partner, Chiyoda, have been awarded a contract valued at approximately $6 billion by Cameron LNG to construct the Cameron Liquefaction Project in Hackberry, Louisiana. The scope of work includes engineering, procurement and construction for the addition of natural gas liquefaction and export facilities to the existing LNG regasification facility. The Cameron Liquefaction Project will consist of three liquefaction trains with a nameplate capacity of approximately 13.5 million tons per year of LNG. The facility will utilize Air Products & Chemicals, Inc.’s (APCI) process and equipment as the liquefaction technology.

The project will create approximately 8,000 on-site jobs, several hundred jobs at McDermott’s fabrication facilities in Louisiana, and several hundred engineering and project management jobs in the company’s Baton Rouge, Louisiana, office to support the design, fabrication and construction of the facilities.


www.mcdermott.com/What-We-Do/Project-...

Meer info:

cameronlng.com/
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China's ramping up of tariffs on US LNG means nothing, everything - Russell

Reuters reported that China's decision to hike import duties on US LNG is a move that means very little for the market in the short term, but it has the potential to deliver outsized consequences the longer the levies remain in place. As part of its latest round of retaliatory tariffs on US imports, Beijing increased the duty on LNG shipments from 10 percent to 25 percent. This will make it even more uneconomic for Chinese buyers to purchase LNG cargoes from the United States. The 10 percent tariff put in place last year has already devastated the trade, with China's imports of the fuel dropping sharply.

According to vessel-tracking data compiled by Refintiv, China imported 25 US LNG cargoes in the first half of 2018, and this slipped to just eight in the second half. This year, a mere three cargoes have been delivered, one each in January, February and March, and no more are currently scheduled to arrive in the coming months. This means in practical terms that raising China's import duty will have little impact on global LNG flows. But there are certain to be longer-term consequences from the fastest-growing LNG market effectively locking out the world's fastest-growing supplier.

Much of the new LNG coming on stream this year and next is based in the United States, as companies rush to take advantage of the plentiful and cheap supplies of natural gas delivered by the nation's shale boom.

It's also worth noting that the United States is the dominant player in the next wave of LNG projects being planned around the world.

Currently, the United States has 64.2 million tonnes of annual LNG capacity under construction, the bulk of which will hit the market this year and next. Together with Canada, it also has a further 164.2 million tonnes in capacity for which the final investment decisions are due by the end of next year.

The market expectation is that China will overtake Japan as the world's largest LNG importer sometime in the next decade, even though its annual rate of growth will moderate from the breakneck pace of more than 40 percent for the past two years.

Meanwhile, this means China will become the most important single player in the LNG buyers' market, just as it already is for several other commodities, such as iron ore, copper, crude oil and coal.

Source : Reuters
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A small shift in the LNG market may mean a big boost for ship owners - Bloomberg

Bloomberg reported that with so much cheap liquefied natural gas around, traders are again looking at tankers to store the fuel in the hope of better prices. A long-established practice in oil trading, the complexity and cost of keeping natural gas in liquid form on ships for extended periods meant it wasn’t widely used until last fall, in anticipation of a surge in Chinese demand and prices. That bet backfired when a mild winter damped requirements for the fuel, forcing traders to discharge LNG and release the vessels, which caused a crash in spot charter rates.

Tankers Going Nowhere Indicate LNG Market Becoming More Like Oil

While it’s a gamble as weather-driven demand is unpredictable, price signals indicate the option to store LNG in vessels later this year is again becoming attractive, not only in Asia, but also in Europe. The price premium for later contracts, or contango, is building up for both spot Asian LNG prices and the UK benchmark, leaving traders weighing how to profit should they choose to store gas at sea.

Mr Nick Boyes, a senior gas and LNG analyst at Swiss utility and trader Axpo Group, said by email “We could see a lot of floating LNG storage from September and this could also tighten shipping rates before winter.”

Mr Boyes said that given the price gap, and with an estimated cost of storing LNG of 60-75 US cents a million British thermal units a month, “current freight rates allow for floating storage opportunities in September, October and November this year in both northeast Asia and Atlantic.”

JKM futures for December are about USD 2.30 per million Btu higher than September contracts, or a premium of USD 7.6 million for a 3.3 trillion British thermal units cargo. How much profit can actually be made is strongly dependent on the cost of renting a tanker and of keeping the fuel in liquid form at minus 162 degrees Celsius (minus 260 degrees Fahrenheit).

Mr Oystein Kalleklev, chief executive officer of Hamilton, Bermuda-based Flex LNG Ltd., a ship-owner and operator, said that “I think it’s more a question of who’s going to jump the gun first when it comes to floating storage. I reckon the first deals will probably be balanced contango trades benefiting both traders and shipowners as traders probably need to take some risk to get the maths to work.”

High storage levels in Europe means tankers are one of the few ways to benefit from the current contango. That would also benefit companies with extensive shipping capacity and shipowners that have battled with a collapse in spot charter rates since the start of the year.

GasLog Chief Financial Officer Alastair Maxwell, said that still, the industry has probably learnt the lessons from both 2017, when a sudden surge in Chinese LNG demand caught the market by surprise, and 2018, when early stockpiling, floating cargoes and disappointing winter demand resulted in excess LNG and lower prices.

Source : Bloomberg
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Santos P'nyang farm-in advances PNG LNG expansion

Santos announced an important milestone towards expansion of the PNG LNG plant by signing a binding letter of intent to acquire a 14.3% interest (pre-government back-in) in Petroleum Retention Licence 3, which contains the P’nyang natural gas field in Papua New Guinea. The PRL 3 participants propose to undertake the development of the P’nyang field in coordination with the participants in the PNG LNG Project to leverage the advantages of existing infrastructure.

Under the binding letter of intent, the parties have agreed for:

1. Santos to acquire a 14.3% interest (pre-government back-in) in PRL 3 from the existing PRL 3 participants.

2. Santos to pay USD 187 million in total, with approximately USD 120 million payable following the execution of a fully-termed sale and purchase agreement, expected around the end of June 2019, and the remainder in contingent instalments subject to the award of a production development licence to replace PRL 3 and a final investment decision for the construction of an additional LNG train at the PNG LNG plant site for the liquefaction of gas from the P’nyang field.

The execution of a sale and purchase agreement remains subject to agreement between the parties on entry into FEED for PNG LNG plant expansion.

The P’nyang field has a certified gross 2C contingent resource of approximately 4.4 trillion cubic feet1 of natural gas (approximately 0.62 tcf net to Santos pre-government back-in).

Santos Managing Director and Chief Executive Officer Mr Kevin Gallagher said Santos’ strategy in PNG is to work with its partners to align interests, and support and participate in backfill and expansion opportunities at PNG LNG.

Mr Gallagher saidt hat “The arrangements we announce today mark an important step towards the proposed expansion at the PNG LNG plant via a 2.7 mtpa third LNG train fed by existing Project resources and P’nyang. We are very pleased to execute the letter of intent with the PRL 3 participants who are also affiliates of Santos’ partners in the PNG LNG Project. We look forward to working with the PNG Government, our partners and landowners to make expansion at PNG LNG a reality.”

Source : Strategic Research Institute
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