LNG
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Louisiana state granted a tax incentive to LNG Ltd. for its Magnolia project in Lake Charles. Although a beneficial development, it’s a drop in the bucket in the company’s progress toward FID. -
The deal with project developer Sempra includes Saudi Aramco netting 5 mtpa of LNG offtake and a 25% equity stake in Phase 1 of the export terminal, which may reach FID later this year.
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Santos signed a binding letter of intent to acquire a 14.3% interest in Petroleum Retention License 3, which contains the P’nyang natural gas field in Papua New Guinea.
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The escalation of the trade war between the US and China could jeopardize several LNG megaprojects that are awaiting final approval.
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A final investment decision is expected later this year on the project, which will involve the construction of two trains with a combined annual capacity of more than 15 mtpa of LNG.
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The Russian independent will likely sell an ownership stake to an additional partner in the coming weeks, joining Total, CNOOC, and CNPC. FID is expected to take place later this year.
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Driftwood is authorized to export up to 3.88 Bcf/D, and Port Arthur gets go-ahead for 1.91 Bcf/D of natural gas as LNG.
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Anadarko Petroleum now plans to exit its agreement with Chevron after deeming Occidental Petroleum's revised takeover bid "superior."
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An EIA report shows natural gas exports reaching 4.6 Bcf/D in February, the 13th consecutive month in which the country's natural gas exports exceeded its imports. Exports are projected to reach 7.5 Bcf/D by 2020.
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After a long cooling off period, this dry-gas shale play is once again red hot.
