Tanker Rates Skyrocket To Fill Colonial Pipeline Shortages
By Elizabeth Low (Bloomberg) Oil tanker charter rates skyrocketed in the U.S. with refiners scrambling for ships to store fuel that has nowhere to go due to a cyberattack on...
While President Obama met with India last week to discuss clean energy and climate change mitigation initiatives, Russian energy giant Gazprom was signing commercial contracts to supply the subcontinent with natural gas (LNG).
Gazprom says 2.9 million tons of LNG per year will originate from the Yamal LNG project and be delivered to the Asia-Pacific markets, mostly to India over a 20-year period.
Yamal LNG is projected to come on line in 2017 and will have an annual production capacity of 16.5 million tons of LNG.
This week, the U.S. House of Representatives will consider H.R. 351, a bill to expedite the export of LNG from the United States.
Congressman John Garamendi wrote a letter to President Obama before his trip to India to highlighting a tender India submitted last August for the charter of nine LNG vessels to support their domestic energy import needs. India’s caveat however, was that the winning bidder would build one of every three ships in India.
With 2.3 million tons per year of liquefied natural gas from Dominion Energy’s Cove Point export terminal destined for India, Garamendi offered an Amendment today to H.R. 351 that would require American-produced LNG be exported on United States-flagged LNG carriers until 2020 and on United States-built and flagged LNG vessels thereafter.
Join the 68,622 members that receive our newsletter.
Have a news tip? Let us know.