A Barrel Fulll Archive

22 November 2021 Refining NZ have today announced the Board have taken a final investment decision confirming the change in operations of their Marsden Point site. This means that Refining NZ will transition to an import-only fuel terminal, called Channel Infrastructure, from April 2022. The Board’s decision follows the signing of long-term terminal services agreements with all three of our customers (bp, Mobil, and Z Energy) on terms approved by shareholders in August. CEO, Naomi James said: “Today is a momentous day in the journey to transition our business away from operating as a refinery and to an import-only fuel terminal. After 60-years of operations as New Zealand’s only oil refinery, we now have certainty about our future, and as we look back on the past with pride, we also look to the future with confidence that our business will be able to continue to contribute to our community, and New Zealand, long into the future.” Work is well advanced to prepare the Marsden Point site...

April 3, 2019 Total and Tellurian signed a series of agreements strengthening the partnership between the two companies to develop the Driftwood LNG project located in Louisiana, USA. The agreements include: A Heads of Agreement (HoA) upon which Total will invest in Driftwood Holdings and will offtake 2.5 Million tons per annum (Mtpa) of LNG. More precisely: - Total will make a $500 million equity investment in the Driftwood LNG and purchase 1 Mtpa of LNG from the proposed project; - Tellurian and Total will also enter into a sales and purchase agreement (SPA) for a further 1.5 Mtpa of LNG from Tellurian Marketing’s LNG offtake volumes from the Driftwood LNG. The SPA will be for the purchase of LNG free on board (FOB) for a minimum term of 15 years, at a price based on the Platts Japan Korea Marker (JKM). An Agreement whereby Total will purchase around 20 million shares of Tellurian common stock for an amount of 200 million US dollars. The agreements are subject to the relevant re...

15 June 2018  Chevron Australia today announced the start of liquefied natural gas (LNG) production from the second train at the Chevron-operated Wheatstone Project located 12 kilometres west of Onslow in Western Australia. Chevron Australia Managing Director Nigel Hearne said Chevron Australia is now the proud operator of a five train LNG business and Australia’s largest liquefaction owner with access to a world class natural gas resource base off the coast of Western Australia. “With the Chevron-operated Wheatstone and Gorgon LNG facilities now operational, we are delivering a significant new source of energy for customers in the region, as well as contributing to significant levels of investment into the Australian economy,” said Hearne. Development of the Wheatstone and Gorgon Projects has seen more than $60 billion committed to Australian goods and services, around 1000 contracts awarded to Australian companies and almost 19,000 workers employed. Hearne added, “first ...

9 October 2017 Chevron Australia today announced it has started producing liquefied natural gas (LNG) at the Wheatstone Project in Western Australia. The first cargo is on track to be shipped in the coming weeks. “First LNG production is a significant milestone and is a credit to our partners, contractors and the many thousands of people who collaborated to deliver this legacy asset,” said Chevron Chairman and CEO John Watson. “Wheatstone adds to our legacy gas position in Australia that will be a significant cash generator for decades to come.” At full capacity, the Wheatstone Project’s two train LNG facility will supply 8.9 million metric tonnes per year of LNG for export to customers in Asia. The LNG facility is located 12 kilometres (7.5 miles) west of Onslow and processes natural gas from the Chevron-operated Wheatstone and Iago fields. The Chevron-operated Wheatstone LNG facility is a joint venture between Australian subsidiaries of Chevron (64.14 percent), Kuwait Foreign Petrol...

January 18, 2019 The staff of the Federal Energy Regulatory Commission (FERC or Commission) has prepared a final environmental impact statement (EIS) for the Driftwood LNG Project (Project) . Driftwood LNG, LLC and Driftwood Pipeline, LLC, collectively Driftwood, request authorization (FERC Docket Nos. CP17-117-000 and CP17-118-000) to site, construct, and operate liquefied natural gas (LNG) export facilities and certain interstate, natural gas transmission pipeline facilities in Evangeline, Acadia, Jefferson Davis, and Calcasieu Parishes, Louisiana. The Driftwood LNG Project consists of two main components: 1) the construction and operation of the LNG Facility, which includes five LNG plant facilities to liquefy natural gas, three tanks to store the LNG, LNG carrier loading/berthing facilities (Marine Facility), and other appurtenant facilities at a site near Carlyss, Calcasieu Parish, Louisiana; and 2) the construction and operation of about 96 miles of pipeline, three new compres...

12 November 2017 Bechtel, a global leader in engineering, procurement, and construction, announced it has signed four lump-sum turnkey agreements with Driftwood LNG LLC, a Tellurian company, to deliver one of the world’s lowest-cost liquefaction construction projects near Lake Charles, Louisiana. Construction of the Driftwood LNG project is expected to begin in 2018 with the first liquefied natural gas (LNG) produced in 2022, subject to Tellurian making a Final Investment Decision and a permit from the U.S. Federal Energy Regulatory Commission. The four agreements cover four phases of the construction process, as production plants are progressively brought online. At full capacity, the facility will produce up to 27.6 million tonnes per annum (mtpa) of LNG. “Bechtel’s history is one of groundbreaking projects at the forefront of the industry,” said Alasdair Cathcart, President Bechtel Oil, Gas and Chemicals. “Our collaboration with Tellurian on the Driftwood LNG project will deliver a...