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Saudi Aramco/Sempra LNG deal among largest; Europe is top destination for US LNG


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Saudi Aramco/Sempra LNG deal among largest; Europe is top destination for US LNG

Saudi Aramco's planned LNG deal with Sempra would rank among largest ever

Saudi Aramco's decision to pursue a big supply deal with Sempra Energy's proposed Port Arthur LNG project could advance the state-controlled oil giant's ambition to become a leading player in the world's growing LNG market and also boost the prospects for the Texas export project getting commercially sanctioned. A nonbinding heads of agreement announced May 22 between subsidiaries of Sempra and Saudi Aramco, the common name for Saudi Arabian Oil Co., anticipated the negotiation and finalization of a 20-year deal for 5 million tonnes per annum of supply from the Port Arthur LNG terminal and a 25% equity investment in the project's first phase.

For 1st time ever, Europe is top destination for US LNG in Q1

EU countries imported record volumes of U.S. LNG in March, with the trade bloc serving as a market of last resort for uncommitted cargoes as a mild winter and global oversupply depressed LNG prices in Asia. The European surge in March showed in figures from the U.S. Department of Energy and the European Commission. The March volumes rounded out the first quarter ever in which Europe was the top destination for U.S. LNG.

Canadian LNG developers try to take advantage of US-China trade war

Canada's efforts to become a major global supplier of LNG could not come at a better time: The U.S. is embroiled in a protracted trade war with key importer China that gives its northern neighbor a chance to seize market share. The main challenges for Canada will be how to finance the huge construction costs for terminals and how to bring together disparate groups of stakeholders, from municipalities to indigenous groups to regulatory agencies, to advance more projects.

FERC approves 4th train at Freeport LNG export terminal

The Federal Energy Regulatory Commission approved an application May 16 to expand the Freeport LNG export terminal under construction in Texas with a fourth train. The commission's vote was 3-1, on the same lines as votes that approved other projects this year amid an ongoing debate over the agency's analysis of greenhouse gas emissions.

Sempra Energy asks FERC for more time on Cameron LNG, but schedule reaffirmed

A Sempra Energy subsidiary asked the Federal Energy Regulatory Commission for more time to complete the Cameron LNG terminal in Louisiana after a construction contractor said in late April that it expected the startup of the second and third liquefaction trains in 2020, months later than a previous target. Sempra had said as recently as February that it hoped to have all three trains operational by the end of 2019. But construction contractor McDermott International Inc. said April 29 that the expected startup of the second and third LNG trains would be in the first quarter of 2020 and the second quarter of 2020, respectively.

TechnipFMC granted engineering, construction contract for Arctic LNG 2 project

TechnipFMC PLC was granted a contract by PAO Novatek and Total SA joint venture Arctic LNG 2 for the engineering, procurement, supply, construction and commissioning of an integrated LNG facility with a capacity of 19.8 million tons per year. The contract is under the Arctic LNG 2 project and provides that the first train is scheduled to launch in 2023.