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Yesterday I was told that to understand whats happening look at Trinidad. They have 5 trains of LNG production. Each train has its own ownership % that have no relationship to the ownership pattern of the other. They stated IOC will be the same. They are negotiating for the first two trains now.Later a third.
Per the CC.The PNG govt has a pass on the first LNG plant or there is 74% of that plant that IOC can sell.If Mitsui wants 30% well have at it. Bid away.
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'jft310' pid='12997' datel Wrote:
Yesterday I was told that to understand whats happening look at Trinidad. They have 5 trains of LNG production. Each train has its own ownership % that have no relationship to the ownership pattern of the other. They stated IOC will be the same. They are negotiating for the first two trains now.Later a third.
Per the CC.The PNG govt has a pass on the first LNG plant or there is 74% of that plant that IOC can sell.If Mitsui wants 30% well have at it. Bid away.
We call that 'Condo LNG'
This is why the Operator of upstream and LNG facility is so critical. OTrs depend on dependable LNG and Upstream operatorship. Owners/investors need to trust the development will be well maintained, desirable and a profitable investment even after their lifetimes. LNG depends on efficient upstream operatorship. IOC's scheme has initial investors occupying the first 4Mtpa plant, condo phase #1. This de-risks project for the 2nd/3rd module or phase #2  in condo world. We do not know yet who wil move into these condos. Some will be owners, some will be investors. Units will be re-sold, and some will be time-shared.
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Nice analogy with lots of moving parts. So EWC can be in with one train and out with another , ertc etc.
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I hope investors understand the operator can be seperate from the sell down partner. There are international contract LNG operators who have the credentials to manage IOC LNG plants for a fee. The bidders also can of course be operators but they need to be acceptable to the owners. To avoid comflicts the independent contractor type might make the most sense.
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Interesting JFT; looking at Trinidad and seeing what's happening in PNG shows similarities. This was a project just announced this summer:
Gasfin, NEC Trinidad and Tobago Ink Deal to Develop New LNG Facility
Posted on Jun 7th, 2012 with tags deal, Develop, Gasfin, Ink, LNG Facility, NEC, News, Trinidad and Tobago .
Gasfin Development SA, an independent developer of mid-scale LNG and natural gas projects, today announced they have signed an agreement with National Energy Corporation of Trinidad and Tobago Limited, the subsidiary of the National Gas Company, charged with the conceptualisation, promotion, development and facilitation of new energy-based downstream industries in Trinidad & Tobago, to facilitate the development of a mid-scale liquefaction plant capable of producing approximately 500,000 million tonnes of LNG per annum to supply markets in in the Caribbean.
The new LNG facility, earmarked for a site at Brighton Port, La Brea will, in conjunction with mid-scale LNG delivery infrastructure provided by Gasfin, facilitate long term supply of natural gas to Caribbean customers. The agreement marks the commencement of development activities. NEC and Gasfin will now proceed with confirming the project feasibility and key commercial agreements ahead of submitting a formal gas allocation request to the government of Trinidad & Tobago later this year.
When in operation, this project will offer regional power generators a realistic alternative to expensive liquid fuels. Using gas, power generators may achieve significant economic and environmental benefits, reducing CO2 and NOx emissions by approximately 25% and 85% respectively and eliminating sulphur and particulates emissions.
As well as generating new foreign direct investment and employment, the project will confirm the position of Trinidad and Tobago as a global pioneer in mid-scale LNG and cement T&T’s role as a regional energy hub.
Roland Fisher, CEO of Gasfin Development SA commented:
“This project highlights Gasfin’s abilities across the mid-scale LNG value chain. An LNG production facility dedicated to serving the regional market is the final piece of an integrated solution to bring Trinidad’s gas to the Caribbean, providing the region with access to an affordable and clean energy source. Our partnership with NEC is the culmination of an exhaustive due diligence process that confirmed our shared vision.”
http://www.lngworldnews.com/gasfin-nec-trinidad-and-tobago-ink-deal-to-develop-new-lng-facility/
And this was an older presentation by Gasfin Development SA. It discusses that crazy mid-scale LNG development idea and talks about how domestic gas can be used for local development. Crazy ideas:
http://www.tge-gas.com/sites/cms/tge/WebFiles/08_Gasfin_TGE%20Symposium%20-%20June%202010.pdf
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'Palm' pid='13004' datel Wrote:
Interesting JFT; looking at Trinidad and seeing what's happening in PNG shows similarities. This was a project just announced this summer:
Gasfin, NEC Trinidad and Tobago Ink Deal to Develop New LNG Facility
Posted on Jun 7th, 2012 with tags deal, Develop, Gasfin, Ink, LNG Facility, NEC, News, Trinidad and Tobago .
Gasfin Development SA, an independent developer of mid-scale LNG and natural gas projects, today announced they have signed an agreement with National Energy Corporation of Trinidad and Tobago Limited, the subsidiary of the National Gas Company, charged with the conceptualisation, promotion, development and facilitation of new energy-based downstream industries in Trinidad & Tobago, to facilitate the development of a mid-scale liquefaction plant capable of producing approximately 500,000 million tonnes of LNG per annum to supply markets in in the Caribbean.
The new LNG facility, earmarked for a site at Brighton Port, La Brea will, in conjunction with mid-scale LNG delivery infrastructure provided by Gasfin, facilitate long term supply of natural gas to Caribbean customers. The agreement marks the commencement of development activities. NEC and Gasfin will now proceed with confirming the project feasibility and key commercial agreements ahead of submitting a formal gas allocation request to the government of Trinidad & Tobago later this year.
When in operation, this project will offer regional power generators a realistic alternative to expensive liquid fuels. Using gas, power generators may achieve significant economic and environmental benefits, reducing CO2 and NOx emissions by approximately 25% and 85% respectively and eliminating sulphur and particulates emissions.
As well as generating new foreign direct investment and employment, the project will confirm the position of Trinidad and Tobago as a global pioneer in mid-scale LNG and cement T&T’s role as a regional energy hub.
Roland Fisher, CEO of Gasfin Development SA commented:
“This project highlights Gasfin’s abilities across the mid-scale LNG value chain. An LNG production facility dedicated to serving the regional market is the final piece of an integrated solution to bring Trinidad’s gas to the Caribbean, providing the region with access to an affordable and clean energy source. Our partnership with NEC is the culmination of an exhaustive due diligence process that confirmed our shared vision.”
http://www.lngworldnews.com/gasfin-nec-trinidad-and-tobago-ink-deal-to-develop-new-lng-facility/
And this was an older presentation by Gasfin Development SA. It discusses that crazy mid-scale LNG development idea and talks about how domestic gas can be used for local development. Crazy ideas:
http://www.tge-gas.com/sites/cms/tge/WebFiles/08_Gasfin_TGE%20Symposium%20-%20June%202010.pdf
There's SalonSussy's andBSBonk's favorite term again 'World Scale LNG' at the top of the pyramid.
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Yeah, but you know it's only IOC that uses that made-up term. Just what is World Scale anyways Tree, besides your taproot? Oh yeah, by industry standards EA qualifies as a world scale resource and Gulf LNG will be a world scale LNG project. Looks like they are right in that top 1% category. Now wouldn't you think it makes sense that IOC has the NOCs, SMs etc very interested that Collin mentioned? Makes sense.
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500,000 mtpa? Should pretty well take care of the market for the next 1,000 years or so.
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Same size modules as EWC. Note that they also export and reported today that they sent a shipment of LNG to Argentina.
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I cleaned my lens before I took this picture about whats going on.
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