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LNG Journal News Stories -Asian LNG $8.20 - jft310 - 02-26-2016
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26 February 2016
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LATEST NEWS
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The six-week countdown has begun for the most important liquefied natural gas conference to take place in recent years, the LNG 18 event scheduled for April 11-15 at the Perth Convention Centre in Western Australia. Full Article
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Italy's Eni posted a massive 7.8 billion euros ($8.5Bln) of quarterly losses due to one-off asset charges "driven by the oil scenario", though still intends to pursue high-value liquefied natural gas projects in Mozambique and Indonesia. Full Article
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Another Canadian LNG project is cancelled because of effects from fall in energy prices
The Douglas Channel Floating LNG project in British Columbia led by Canada's AltaGas, an energy and utility business, and with European and Japanese partners, has been postponed because of the effects of the oil slump on the economics of the venture. Full Article
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French energy and liquefied natural gas engineer Technip said it made progress on the Yamal LNG project in Arctic Russia and on the topsides it is constructing for the Shell-operated Prelude Floating LNG hull for offshore northwest Australia. Full Article
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Sempra Energy of California and Australia's Woodside sign Port Arthur liquefaction deal
Sempra Energy of California and Woodside of Australia are pushing on with their Port Arthur LNG export venture in Texas after signing a project development agreement as a sign of their commitment. Full Article
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NEWS IN BRIEF
LNG engineer is positive
The LNG and energy engineering company Chicago Bridge and Iron posted net losses of $504 million for the year and $65.7m for the fourth quarter compared with profits of $543M and $150M respectively in the year-ago periods. New contract awards mounted to $13 billion, include bookings for an additional liquefaction Train for an LNG project in Texas and a combined-cycle gas turbine plant on the US Gulf Coast. CB&I was also selected for a short-list for engineering and construction of LNG developments in Mozambique. "Our efforts enable us to begin 2016 with a high-quality backlog," said Philip K. Asherman, CB&I Chief Executive
GAIL LNG ship tender
Gas Authority of India (GAIL) will see a tender close on February 29 for the construction of 11 LNG carriers to import the Indian network operator's growing needs, including 3.5 million tonnes per annum of US cargoes booked from two projects from 2018. GAIL has a contract to load LNG from the Cove Point terminal in the US state of Maryland that is currently being transformed into an export plant. It will also have volumes from a later liquefaction Train at Cheniere Energy's Sabine Pass that has now begun shipping from the first of the planned six Trains.
Engie has redesign plan
French utility Engie posted a net loss of 4.6 billion euros ($5Bln) for 2015 after booking 8.7Bln euros in one-off items due to plunging oil and natural gas prices. The charges were mainly related to the exploration and production activity, heavily impacted by the prolonged drop in energy prices that hit LNG supply and sales activity. "In a deteriorated market context, Engie launches an ambitious three-year transformation plan," said Gerard Mestrallet, Chairman and Chief Executive. "This plan aims at redesigning the portfolio of activities of the group, thanks to a 22Bln euros capex program and a 15Bln euros portfolio rotation program," Mestrallet explained.
Fluor LNG training offers
US LNG and energy engineer Fluor Corp. said it opened a US Gulf Coast craft training center in Pasadena, Texas, as part of its long-term commitment to craft workforce development for energy projects. "Through the center, Fluor will provide tuition-free, pre-employment training to individuals who want to enter high-demand careers in construction," it said. The center offers certified entry-level courses in the electrical, instrumentation, millwright and pipefitting and welding. "Since the 1960s, Fluor has invested in the future of the craft workforce, providing opportunities to current and future craft professionals," said David Seaton, Fluor's Chairman and Chief Executive.
'Asia Vision' carrier departs
Cheniere has shipped the long-awaited first cargo from its Sabine Pass liquefaction and export facility in Louisiana. This marks the first export of LNG from the lower 48 states in the US. The 160,000 cubic metres capacity "Asia Vision", owned by US major Chevron Corp., had been at Sabine Pass for a week and was scheduled to deliver the cargo to the Bahia floating import
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