A Barrel Fulll Archive

July 2, 2021 Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) today released the following statement from Chief Executive Officer Alfred Sorensen with respect to a future path for the Company’s Goldboro LNG Project : ‘While Pieridae has made tremendous progress in advancing the Goldboro LNG Project, as of June 30, 2021, we have not been able to meet all of the key conditions necessary to make a final investment decision. Following consultation with our Board, we have made the decision to move Goldboro LNG in a new direction. The Project’s fundamentals remain strong: robust LNG demand from Europe and high global LNG prices, Indigenous participation, a net-zero emissions pathway forward, and support from jurisdictions across Canada. This speaks to our ongoing efforts to find a partner to take advantage of these opportunities. That said, it became apparent that cost pressures and time constraints due to COVID-19 have made building the c...

January 29, 2021 Equinor (OSE: EQNR, NYSE: EQNR) has decided to write down the book value of its Tanzania LNG project (TLNG) on the company’s balance sheet by 982million USD. This will be reflected in adjusted earnings for EPI division in fourth quarter 2020 results to be reported on 10 February 2021. While progress has been made in recent years on the commercial framework for TLNG, overall project economics have not yet improved sufficiently to justify keeping it on the balance sheet. The TLNG project has an anticipated breakeven price well above the portfolio average for Equinor and is, at this time, not competitive within this portfolio. Equinor will continue to engage with the Government of Tanzania in negotiations on a commercial, fiscal and legal framework that may provide a viable business case for TLNG in the future. Equinor maintains an attractive portfolio of project development opportunities in oil and gas as well as renewables. This portfolio requires strict prioritization...

02 Oct 2017 Golar LNG Limited announces today that the FLNG Hilli Episeyo , in line with previous guidance, departed Keppel Shipyard on Sunday October 1st. Having successfully reached mechanical completion the vessel has been moved to deep-water anchorage where Keppel Shipyard will complete final marine commissioning. Hilli Episeyo is currently expected to leave Singapore between October 15 and October 20.

January 17, 2022 LNG Alliance, together with Government of Karnataka and NMPT, has proposed to undertake the conceptualization of commercial project structure for developing a major LNG import terminal in Karnataka , with an initial capacity of 4 Million Tonnes Per Annum (MTPA), and the potential for expansion up to 8 MTPA in line with the estimated demand increase over the next 20 years. In addition, this import and regasification terminal would also have the ISO LNG containerisation and LNG truck loading facility for serving the industrial and transportation sector. This could also be India’s first dedicated LNG bunkering facility that would provide LNG as fuel for ships visiting the NMPT port and bunkering shuttles to the West Coast of India. If LNG Alliance is the successful bidder when the port invites open tenders for setting up of the terminal, LNG Alliance intends to invest approximately 290 million US dollars to develop, construct, and operate a Floating Storage and Regasific...

06.03.2019 The Prime Minister of India, Mr. Narendra Modi dedicated IndianOil’s Ennore LNG Terminal to the nation by unveiling the plaque at a glittering function held at Kilambakkam, Kanchipuram District, Tamil Nadu. The event was marked by the august presence of Mr. Banwarilal Purohit, Hon’ble Governor of Tamil Nadu, Mr. Edappadi K. Palaniswami, Hon’ble Chief Minister of Tamil Nadu, Mr. Pon. Radhakrishnan, Minister of State for Finance and Shipping, Dr. M. Thambidurai, Deputy Speaker, Loksabha, Mr. O. Paneerselvam, Deputy Chief Minister of Tamil Nadu, Ms. K. Maragatham, MP, Mr. M M Kutty, Secretary, MoP&NG, Mr. Sanjiv Singh, Chairman, IndianOil, Mr. G K Satish, Director (P&BD), IndianOil, Mr. S. Senthilkumar, ED I/c (RS), SR, Mr. R. Sitharthan, ED I/c, TNSO and Mr. Arup Sinha, ED (RS), SR. IndianOil, through its Joint Venture Company, IndianOil LNG Pvt. Ltd., has developed this 5-million metric tonnes per annum (MMTPA) capacity Liquefied Natural Gas (LNG) Terminal at Kamaraj...

9th July 2015 Black & Veatch led consortium, with KSS Petron India, has won the contract for a new liquefied natural gas (LNG) receiving terminal at Ennore , in the Indian state of Tamil Nadu. The contract was awarded by Indian Oil Corporation Limited (IOCL), India’s national oil company. Black & Veatch will lead the engineering, procurement, construction (EPC) and commissioning work on a turnkey basis, and the plant is scheduled to be completed by 2018. “The Ennore LNG project is vital for gas supply and furthers our established brand as a proven tier-one global EPC provider,” G. Sathiamoorthy, Managing Director of Black & Veatch India IOCL’s Ennore terminal will be the first-of-its-kind on India’s east coast. With a send-out capacity of five million tonnes the regasification terminal paves the way for supply of LNG to high gas demand southern states, particularly Tamil Nadu and some parts of Karnataka and Andhra Pradesh. As a result the project is expected to aid furthe...

23 · Jan · 2017 PETRONAS is pleased to announce that its LNG Train 9 in Bintulu, Sarawak has moved to the commercial operations phase as of 1 January of this year. With its commercial operations start-up on target, the latest liquefied natural gas (LNG) production facility within the PETRONAS LNG Complex will now focus on safe and reliable delivery of LNG to PETRONAS’ customers across Asia. The first commercial output from the facility left the Bintulu Port on 1 January to a customer under the portfolio of PETRONAS LNG Limited (PLL). The state-of-the-art facility is owned by PETRONAS LNG 9 Sdn Bhd (PL9SB), a subsidiary of PETRONAS incorporated in 2012. JX Nippon Oil & Energy recently acquired a 10 per cent equity in PL9SB. The addition of the facility will boost the production capacity of the PETRONAS LNG Complex by 3.6 million tonnes per annum (MTPA) to approximately 30 MTPA and will strengthen PETRONAS’ position as a leading player in the global LNG business.

April 9, 2019 Total and its partners ExxonMobil and Oil Search have signed the Gas Agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG Project . This Gas Agreement allows the partners to enter the Front-End Engineering Design (FEED) phase of study that will lead to the Final Investment Decision in 2020. “The finalization of the Gas Agreement is a major milestone for Papua LNG project that confirms the commitment of all partners and the Government of Papua New Guinea to make the project a success for all stakeholders”, said Patrick Pouyanné, Chairman and CEO of Total. “We are very pleased with the progress of this competitive LNG project that benefits from the brownfield synergies with existing liquefaction facilities and the proximity to Asian markets. It will further strengthen our position in the Pacific basin and ensure our future LNG portfolio growth.” The Papua LNG project of 5.4 million tons per annum (Mtpa) capacity will consi...

5 February 2015 State Secretary, Johor (Incorporated), (SSI Johor) today signed two Lease Agreements with Pengerang Terminal (Two) Sdn. Bhd. (PT-2) and Pengerang LNG (Two) Sdn. Bhd. (PLNG-2) respectively. The issuance of the lease agreements by the state of Johor, marks the next stage of progress in the development of PETRONAS' Pengerang Integrated Complex (PIC) development in Pengerang, Johor. PT-2 terminal will serve as a dedicated storage and industrial terminal for the PETRONAS' Refinery and Petrochemical Integrated Development (RAPID) complex. PT-2 will undertake the development, construction and operation of the facilities required for the handling, storage and distribution of crude oil, petroleum, chemical and petrochemical feedstock, products and by-products to and from the RAPID complex ("Pengerang Terminal Phase 2 Project"). The storage facilities will have a capacity of approximately 2.1 million cubic metres (mᵌ) and a deepwater jetty with twelve berths...

25 April 2019 PETRONAS through its subsidiary, PETRONAS LNG Ltd (PLL), now offers commercial Gassing Up and Cooling Down (GUCD) services at the Liquefied Natural Gas (LNG) Regasification Terminal Pengerang (RGTP) , through a collaboration with Pengerang LNG (Two) Sdn Bhd (PLNG2). The terminal is owned by PLNG2, which is a joint venture among PETRONAS Gas Berhad, Dialog LNG Sdn Bhd and Permodalan Darul Ta’zim Sdn Bhd. The recent completion of the GUCD for PETRONAS vessel Puteri Zamrud Satu marks a significant milestone for GUCD at the RGTP. The GUCD took place after Puteri Zamrud Satu’s departure from the Malaysia Marine and Heavy Engineering (MMHE) dry dock in Pasir Gudang, Johor. This GUCD operation signifies the first of many potential utilisation of GUCD services at the RGTP by other LNG vessel operators and owners due to its strategic location along the Straits of Johor. GUCD is a specialised service to displace the inert gas from the LNG vessel’s storage tanks and it is cooled ...

Apr. 7, 2021 Chevron Corporation (NYSE: CVX) today announced its wholly-owned subsidiary Chevron U.S.A. Inc. (Singapore Branch) (“CUSA”) has signed a binding Sale and Purchase Agreement (SPA) with Hokkaido Gas Co., Ltd. for the delivery of liquefied natural gas (LNG) from Chevron’s global LNG portfolio to the Hokkaido area. Under the agreement, CUSA will supply Hokkaido Gas with about a half million tons of LNG over a period of five years starting April 2022. “We are delighted to design and execute a Sales and Purchase Agreement (SPA) with our new partner Hokkaido Gas that will bring Chevron LNG directly to Hokkaido, a key growth area. It broadens our customer base in Japan, a market that is foundational to our LNG business. This new SPA represents Chevron’s commitment to collaborate with Hokkaido Gas in diversifying energy solutions and advancing a lower carbon future in the Hokkaido area,” said John Kuehn, President of Chevron Global Gas, a division of CUSA. Hokkaido Gas is an integr...

April 4, 2022 Sempra Infrastructure , a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), announced today it has entered into a Heads of Agreement (HOA) with affiliates of TotalEnergies, Mitsui & Co. and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK), for the development of the Cameron LNG Phase 2 export project in Hackberry, Louisiana. "We are excited to continue advancing Cameron LNG Phase 2 with our partners," said Justin Bird, CEO of Sempra Infrastructure. "Today's announcement represents the shared focus of the Cameron LNG partners to increase the supply of cleaner U.S. natural gas to global markets, while also facilitating the energy security of our allies." The HOA provides the commercial framework for the expansion of the Cameron LNG facility by adding a fourth liquefied natural gas (LNG) train and increasing the production capacity of the three operating trains through debottlenecking...

11.12.2019 Today the commissioning of the Balticconnector gas pipeline connecting the Finnish and Estonian gas infrastructures was celebrated. The Commissioning Celebration took place simultaneously in Helsinki, Finland and Paldiski, Estonia. The parallel events were interconnected with a live stream in the spirit of good cooperation between the two countries and the EU. Guests of honor and speakers at the event were the President of Finland Sauli Niinistö, the President of Estonia Kersti Kaljulaid, Minister for Economic Affairs in Finland Mika Lintilä, Minister for Economic Affairs and Infrastructure in Estonia Taavi Aas and Klaus-Dieter Borchardt, Deputy Director-General form European Commission Energy Directorate. The bidirectional Balticconnector pipeline was ready for operation already in November, one month ahead of schedule. This enables the opening of the gas markets of Finland and Estonia and integrating them with the rest of the Europe on January 1, 2020. The pi...

May 29, 2017 Husky Energy is moving forward with the West White Rose Project offshore Newfoundland and Labrador. The Company and its partners will use a fixed wellhead platform tied back to the SeaRose floating production, storage and offloading (FPSO) vessel. The platform, which has received regulatory approval, will enable the Company to maximize resource recovery. First oil is expected in 2022 and the project is anticipated to achieve a gross peak production rate of approximately 75,000 barrels per day (bbls/day) in 2025, as development wells are drilled and brought online. “Over the years the Atlantic business has provided some of the strongest returns in the Company’s portfolio and West White Rose is the next chapter,” said CEO Rob Peabody. “This project is of a scale approaching the original White Rose development and is able to use the existing SeaRose FPSO to process and export production. “We’ve ...

March 29th, 2017 ConocoPhillips (NYSE: COP) today announced it has signed a definitive agreement with Cenovus (TSX: CVE) (NYSE: CVE) to sell its 50 percent non-operated interest in the Foster Creek & Christina Lake (FCCL) oil sands partnership, as well as the majority of its western Canada Deep Basin gas assets, for total proceeds of $13.3 billion. ConocoPhillips Canada will retain its operated 50 percent interest in the Surmont oil sands joint venture and its operated 100 percent Blueberry-Montney unconventional acreage position. Total proceeds for the transaction are $13.3 billion before customary adjustments, consisting of the following considerations:$10.6 billion of cash, payable at closing; and 208 million Cenovus shares, valued at $2.7 billion on March 28, 2017. In addition, the company will receive five years of uncapped contingent payments, triggered when Western Canada Select (WCS) crude prices exceed $52 Canadian dollars per barrel. Using March 28, 2017 foreign excha...

October 25, 2020 Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) today announced a transaction to create a new integrated Canadian oil and natural gas company with an advantaged upstream and downstream portfolio that is expected to provide enhanced free funds flow generation and superior return opportunities for investors. The companies have entered into a definitive arrangement agreement under which Cenovus and Husky will combine in an all-stock transaction valued at $23.6 billion, inclusive of debt. The combined company will operate as Cenovus Energy Inc. and remain headquartered in Calgary, Alberta. The transaction has been unanimously approved by the Boards of Directors of Cenovus and Husky and is expected to close in the first quarter of 2021. Upstream Canada Sunrise Oil Sands Project Terra Nova Oil Field  Tucker Oil Sands Project  White Rose Oil Field China Liwan 3-1 Gas Field  Indonesia Madura BD Offshore Gas and Condensate Field Refiner...