Venture Global LNG’s Post

US New Fortress Energy first floating LNG plant off Altamira, Mexico is receiving last major plant piece. LNG developer New Fortress Energy is planning to begin production at the 1.4-million-tons-per-year floating plant off the coast of Altamira, Mexico, in the coming weeks. The company had in August said the first cargo from the project should depart in October. Altamira's first LNG plant is part of a wider project by New Fortress and Mexico's state-owned power utility CFE to build a $1.3 billion hub to convert U.S. and Mexican gas into LNG for export. Two additional floating LNG plants are under construction, with operations startup planned for 2025. New Fortress in 2021 bought oil rigs from Maersk Drilling to convert them into floating LNG plants. While a typical floating LNG facility can cost more than $4 billion and take up to five years to build, using jackup rigs is faster and cheaper, costing some $500 million. New Fortress in June was granted a permit by Mexico to export up to 7.8 million metric tons through April 2028, and it had previously received authorization from the U.S. Department of Energy to export to Mexico and other countries with trade pacts. An authorization to export to nations without free trade agreements with the U.S. is pending.

BP Challenges FERC’s Oversight on Venture Global LNG Plant Operations 🔍 bp PLC has raised concerns over the U.S. Federal Energy Regulatory Commission’s (FERC) oversight of a Venture Global LNG liquefied natural gas export facility. In a letter to FERC, BP argues that the commission has not enforced its regulations effectively, particularly regarding the transparency of facility operations. 🌐 The issue centers around Venture Global LNG's Calcasieu Pass, Louisiana plant, a significant U.S. exporter of LNG since early 2022. BP, along with other long-term contract customers, claims to have lost billions in revenue as Venture Global LNG has sold over 200 cargoes of gas under its own accounts, bypassing these customers. 📄 BP's letter criticizes FERC for failing to ensure public disclosure of key facts and documents necessary for compliance with the commission's rulings. FERC has not commented on the matter, citing ongoing proceedings. 🇪🇸 This challenge follows a similar move by Spanish energy firm Repsol SA, which sought to reopen U.S. authorization of the Calcasieu plant due to startup problems affecting LNG cargo deliveries. The U.S. Department of Energy (DOE), however, denied Repsol's request, stating that contractual disputes should be resolved between the commercial parties. 💼 Venture Global LNG spokesperson Shaylyn Hynes has dismissed BP's complaint as meritless and an attempt to use a federal regulator to advance commercial interests. She stated that Venture Global LNG would formally respond to BP's letter. 📉 The dispute adds to the series of contract arbitration claims filed by BP, EDISON ENERGIA SPA, Shell, and Repsol over the lack of LNG cargoes under their contracts. Venture Global LNG maintains that these claims are baseless and that the company's contracts grant it the sole authority to determine when the facility is commercially operational. https://lnkd.in/gbtA4BPb

〆Qatar Energy, in collaboration with its maritime company Nakilat, has finalized long-term charters and ownership arrangements for nine LNG carriers. 〆These vessels, each with a tank capacity of 270,000 cubic meters, will be constructed at the Hudong-Zhonghua Shipbuilding in China. 〆Since the last delivery of an LNG vessel in 2019, Japanese shipyards have ceased the construction of LNG ships. Nakilat, which means "transportation" in Arabic, was established in 2004. Qatar Petroleum and other government-related entities hold 50% of the shares. The remaining shares were made available to the public through an initial public offering (IPO) in 2005. Qatar Energy, the national oil and gas company of Qatar, has signed long-term contracts for nine QC-Max class LNG (liquefied natural gas) carriers, each with a capacity of 270,000 cubic meters, with its maritime company, Qatar Gas Transport Company (Nakilat). Nakilat will own and operate these vessels, which will be used by Qatar Energy to transport its increasing LNG exports by sea. The last LNG vessel ordered from a Japanese shipyard was delivered by Mitsubishi Heavy Industries in September 2019, and since then, no new LNG ship orders have been placed. In Japan, there are calls for the revival of LNG shipbuilding in domestic shipyards from the perspective of future energy transportation, but challenges such as rising construction costs are a concern for the shipyards. In late April 2024, Qatar Energy announced plans to construct 18 new QC-Max class LNG carriers. Of these, nine will be owned and operated by three Chinese shipping companies, while the remaining nine will be managed by Nakilat. On May 8, 2024, a signing ceremony for this contract was held at Qatar Energy's headquarters in Doha, attended by top executives from both companies. Qatar Energy plans to build these 18 QC-Max class LNG ships at the Hudong-Zhonghua Shipbuilding in China, with completion scheduled between 2028 and 2031. The new ships will have a cargo tank capacity of 271,000 cubic meters, surpassing the current largest Q-Max class ships (260,000 cubic meters) and becoming the largest in the world. In addition to these 18 QC-Max ships, Qatar Energy has ordered 104 standard-type LNG carriers of 174,000 cubic meters to increase LNG production and replace existing vessels, bringing the total new LNG ship orders to 122. The first of these ships is set to be operational by September 2024. Prior to the long-term agreement for the nine QC-Max ships, Nakilat had already signed a long-term contract with Qatar Energy for 25 panamax-type LNG carriers, which are being built in South Korean shipyards. Out of the 122 new LNG ships Qatar Energy plans to build, Nakilat will own and operate 34. 〆中東のカタールエナジーは、同国の海運会社のNakilatとLNG運搬船９隻の保有、長期用船契約を締結した。 〆船型はタンク容量２７万立方㍍型、全船を中国の滬東中華造船で建造する。日本の造船所は２０１９年のLNG船の引き渡しを最後に、LNG船の建造が途絶えている。 カタールの国営石油・ガス会社カタールエナジーは同国の海運会社カタール・ガス・トランスポート（Nkilat）と27万立方メートル級のQCマックス型LNG船9隻の長期契約を締結した。 Photo courtesy=Nakilat

This article discusses: Venture Global has secured a deal to access three million metric tonnes per annum (mtpa) of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal in the UK. This arrangement broadens the company’s capacity for LNG handling and contributes to the global energy supply chain. The news, announced on February 7, 2024, has implications for the global LNG market. #VentureGlobal #LNG #EnergyStorage What might be the potential implications of this deal on the global LNG market, considering Venture Global's increased storage capacity? https://lnkd.in/gxNyACSp https://lnkd.in/gfi642dD ---------------------------------- Go Rogue and focus on the WHY on Energy Markets…. Rogue Edge® Members already know…. Sign up here: https://lnkd.in/gvPx5WDr About Energy Rogue: https://energyrogue.com/ Energy Rogue® provides a state of the art fundamental and technical analytics platform for the energy industry focused on Oil, Natural Gas, Power and Natural Gas Liquids. Risk ---------------------------------- If you want to learn more: 1. drop us a line at rogue@energyrogue.com 2. join Rogue Edge TODAY: https://lnkd.in/gvPx5WDr Disclaimer - The summary and image provided here are generated using artificial intelligence (AI) based on the content of the original article.

South Korea’s HD Hyundai Marine Solution has secured a contract from US energy giant Chevron to install reliquefaction units and other tech on the latter’s two liquefied natural gas (LNG) carriers. The unit of HD Hyundai, previously known as Hyundai Global Service, revealed the contract award in a statement issued on Thursday. In addition to reliquefaction units, HD Hyundai Marine will also install air lubrication technology and new gas compressors. HD Hyundai Marine said that the 2014-built 160,000-cbm, Asia Energy, is one of the two LNG carriers which will receive the upgrade. The firm did not provide the price tag of the deal. Last year, the company also won an order from LNG carrier operator CoolCo to retrofit five TFDE LNG carriers with sub-coolers for LNG boil-off reliquefaction in order to slash emissions and improve fuel consumption. This deal is worth $50 million or some $10 million per vessel. A reliquefaction unit reliquefies BOG generated during the operation of LNG cargo tanks, either returning the gas to the cargo tank or preventing natural evaporation using sub-cooled LNG. So far, HD Hyundai Marine won $100 million in orders to install reliquefaction units on eight LNG carriers, including the CoolCo order, it said. HD Hyundai Marine said there are about 100 LNG carriers without reliquefaction systems, and the total cost to install the technology on them is estimated at $700 million. As per Chevron, the company’s shipping unit contracted last year a subsidiary of Singapore’s Sembcorp Marine to install reliquefaction systems and other tech on Chevron’s LNG carriers as part of a move to further slash emissions. According to Chevron’s website, its shipping unit operates ten LNG carriers, including Asia Energy. As part of its shipbuilding program, Chevron Shipping took delivery of six LNG carriers over the period of 2013-2017. 🔹 Source: https://lngprime.com

Australian first LNG train will cease operations next year Woodside confirms that the first train of #Australian North West Shelf LNG plant (NWS LNG) will cease production in 2024, as the operator had projected that the facility will operate under its capacity “due to a combination of natural field decline and limited third-party gas processing demand.”   Global LNG Info's Analytics has predicted that NWS LNG will have to gradually take more trains out of service starting next year if Woodside can't secure adequate #feedgas for the facility. Discussions have been underway between NWS LNG venture and other gas #resources owners for the processing of third-party #gas in the #LNG plant as it was on track to receive gas from Waitsia and Browse projects.   Australia's Beach Energy has recently admitted further delays at its Waitsia gas field stage 2 development, due to the collapse of the project’s original #EPC #contractor Clough and #cost blowouts. The project had initially been expected to start sending gas to the NWS LNG plant this year but now the project aimed to start flowing gas from the middle of next year.   In addition, NWS LNG and Browse gas partners are #negotiating on the key #commercial terms in support of the Browse gas to NWS development concept. “Browse is a large #backfill opportunity to fill long-term NWS ullage due to the quantity and the compatibility of the gas resource with the [NWS LNG venture’s Karratha Gas Plant] facilities.” However, Woodside has reminded that complicated Browse project should settle some critical issues before its development could be started i.e. finding viable solution(s) to handle the field’s high #CO2 content, getting local and federal #environmental approvals and reaching #commercial agreement with NWS LNG venture on a potential #tolling deal which was anticipated to be challenging.   According to the Global LNG Database® (1), the 16.3 MMT/Y NWS LNG venture’s shareholders are Woodside Energy (operator) 33.34%, #Shell 16.67%, Japan Australia LNG (MIMI) 16.67%, #BP 16.67% and #Chevron 16.67%. The NWS LNG venture’s first LNG train which is #Australia's first gas #liquefaction unit was commissioned 34-year ago in 1989.   Browse Joint Venture’s current partners are Woodside Energy (operator) 30.60%, Shell 27.00%, MIMI 14.40%, BP 17.33% and PetroChina 10.67%. After Shell-BP recent deal conclusion, BP will increase its stake to 44% and possibly gain operatorship position. (1) To learn more about Global LNG Database®, please visit its introduction page at: https://lnkd.in/dSG73cW To see more posts like this in your feed and stay up-to-date with what is going on in the LNG world, follow Global LNG Info on LinkedIn at https://lnkd.in/e442DdDn #lngindustry #lngshipping #gasindustry #energyindustry #energymarkets #gasprices #lngmarkets #naturalgasindustry #energyindustry #energyprices #infrastructure #constructionjobs #constructionindustry #construction #oilandgasprojects #energy #globallngdatabase

This is another reminder of the importance of US LNG projects - current and future - to energy security and energy transition in Japan (and Asia Pacific more broadly). Once fully operational in 2026, the CP2 LNG facility operated by our member company Venture Global LNG will have export capacity of 20 million tonnes per annum. #lng #lngindustry #naturalgas #naturalgasindustry #energysecurity

LNG HUB PLANS EXPANSION TO BOOST UK ENERGY FLEXIBILITY (Montel) Expansion work at Europe’s largest LNG import terminal – Grain LNG in Kent – will see import capacity increase next year by a quarter, to further bolster the country’s energy flexibility, terminal manager Simon Culkin told Montel. “We're about a 16m tonnes (22bcm) per annum terminal [but] we're expanding at the moment, taking us up to 20m tonnes per annum,” Culkin said. The terminal is also building a ninth storage tank, which would increase total storage capacity by 20% to 1.2mcm. “As we go through these years ahead of us, with the energy transition kicking in with real gusto, we think this terminal will be used more often and more intermittently,” he said, regarding UK efforts to fully decarbonise the power sector by 2035, while using gas as a key baseload transition fuel. “LNG is there as a flexible source of energy that can come in and back up renewables when the wind isn't blowing,” he said. The terminal imported around 1.2m tonnes of LNG in the first quarter of 2024, accounting for more than a third of the 3.3m tonnes delivered to the three operational UK LNG hubs, according to Kpler data. In 2023, Grain LNG accounted for 40% of the UK’s full-year total imports, of 14.5m tonnes, the data showed. EU EXPORTS Last year’s total – to all terminals – was down 23% from 2022, when the country had been exporting considerable volumes to the continent, amid efforts to fill EU-wide storage following a sharp drop in Russian supply. “Grain was providing security of supply to Europe [with the] filling up of European storage,” Culkin said. “Now Europe has many more LNG terminals, so we're not doing that service as much, but we are still there providing resilience both to the UK and to Europe when it needs it,” he said. Europe has turned to imports of the chilled fuel to help substitute for lost Russian gas flows amid the fallout from the Ukraine war. #kentinvicta #kentbusiness

North American LNG is on track for a significant capacity buildout this year, with several export projects reaching final investment decision (FIDs) and at least two others finishing construction. But the sector can expect more turbulence amid Venture Global's ongoing clash with offtakers and some potential regulatory headwinds. #USLNG #LNG #natgas #USenergy