LNG Prices To Rise Due To Global Outages

(Reuters) Asian prices for liquefied natural gas (LNG) were set to rise next week on strong prompt demand from Argentina and India as well as potentially lengthier supply disruptions in Australia and Angola. However, this week Asian spot LNG prices LNG-AS traded lower at $5.25 per million British thermal units (mmBtu), down 25 cents since last week. More supply in Asia … [Read more...]

Chevron Suspends LNG Production at Gorgon Mega-Project for Second Time

By James Paton and Dan Murtaugh (Bloomberg) -- Chevron Corp. halted output at its $54 billion Gorgon liquefied natural gas development for the second time this year after a gas leak at the site, the latest problem for the Australian mega-project. The plant, located on Barrow Island off Australia’s northwest coast, evacuated workers after a minor gas leak. Chevron will … [Read more...]

Production at Chevron’s Brand Spanking New Gorgon Mega-Project Could Be Shut for Months

By James Paton (Bloomberg) -- Chevron Corp. temporarily halted output at its $54 billion Gorgon liquefied natural gas project in Australia due to mechanical problems just two weeks after making the first shipment to Japan. The plant, located on Barrow Island off Australia’s northwest coast, is expected to restart within 30 to 60 days, Chevron’s local unit said in an … [Read more...]

Mechanical Problems Halt LNG Exports from Gorgon Mega-Project

By Henning Gloystein SINGAPORE, April 4 (Reuters) - Chevron's massive Gorgon liquefied natural gas (LNG) facility in Australia has hit technical difficulties, a spokesman said on Monday, resulting in a temporary suspension of exports less than a month after it started first production. Chevron's $54-billion project began producing LNG for export on March 7, but has since … [Read more...]