Blackstone may entertain offers for Cheniere Energy Partners stake, exec says
Private equity firm Blackstone Group views its foundation investment in the Cheniere Energy Inc. affiliate that owns and operates the Sabine Pass LNG export terminal as a mission accomplished, and the group is open to moving on, the chief of Blackstone's energy-focused business said. During a Sept. 18 chat with S&P Global Platts and S&P Global Market Intelligence reporters at the Gastech conference in Houston, Blackstone Energy Partners head David Foley said the firm would consider selling its 202 million shares in Cheniere Energy Partners LP — a 41% stake currently valued at $9.7 billion — if a good offer came along.
August gas flows at US LNG plants declined even as Cameron LNG began service
Daily natural gas flows feeding U.S. LNG export terminals rose again in August as the Sempra Energy-led Cameron LNG plant entered commercial service, becoming the fourth major facility to reach that milestone, but the total flows to these terminals were down for the month compared to July. The Louisiana terminal's first of three trains started shipping cargoes to world markets under its tolling agreements on Aug. 12 after having exported a number of commissioning cargoes since late May and receiving an in-service authorization from the Federal Energy Regulatory Commission in July.
US LNG industry sees curbing emissions as key to its long-term future
The growing U.S. LNG industry can help drive down global carbon emissions by displacing coal with exports to world markets, the head of the International Energy Agency said, but he warned that oil and gas companies could undermine that future if they are "greedy" when it comes to investments to reduce carbon emissions. Such investments, even those driven by stringent regulations, would have a nominal impact on the average cost of gas production, IEA Executive Director Fatih Birol said at an industry event organized in Washington D.C. by the American Petroleum Institute, the Center for Liquefied Natural Gas and LNG Allies.
Cheniere sees producer agreements as good start to commercializing expansion
Cheniere wants as much of its capacity sold as possible before it advances a proposed midscale liquefaction expansion at its Texas export terminal, though it sees two recent gas agreements with producers as a positive first step, CEO Jack Fusco said Sept. 17. Cheniere plans to use the EOG Resources Inc. and Apache Corp. deals to commercialize the Stage 3 expansion, although executives said the company is open to other forms of off-take agreements for the project's remaining capacity.
Cameron LNG loading on schedule despite force majeure at La. facility
Cameron LNG said it is loading cargoes on schedule even after it declared force majeure at its export terminal in Louisiana on Sept. 13 due to technical problems. Cameron LNG said it does not comment on commercial arrangements with its customers, but it "continues to produce LNG from train 1 and is loading cargoes in accordance with the lifting schedules" with its customers, a spokesperson for the LNG company said in an emailed statement Sept. 16.
Golden Pass LNG may be firming up off-take contracts after investment decision
Exxon Mobil Corp. and Qatar Petroleum might be trying to lock down long-term off-take contracts for the LNG export terminal they are building in Texas after going a significant distance without them, an Exxon executive said in an interview. The approach, described by Alex Volkov, Exxon's head of global LNG marketing, reflected the company's strategy of separating the rationale for a final investment decision for natural gas liquefaction projects from the ultimate execution of those projects, something its financial flexibility as an integrated major allows it to do.
Magnolia LNG investment decision may push to 2020, CEO says
It could be 2020 before Australia's LNG Ltd. builds enough commercial support for its proposed Magnolia LNG LLC export terminal in Louisiana to reach a final investment decision, the top executive said. In an interview with S&P Global Market Intelligence and S&P Global Platts, CEO Greg Vesey cited the ongoing trade war between the U.S. and China as one factor that could move the decision back.
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