Congressman John Garamendi (D-CA.) and Senator Roger Wicker (R-MS.) have introduced a bipartisan bill that seeks to boost the nation's shipbuilding and maritime industries by requiring an increasing percentage of LNG and crude oil exports be transported on American built, flagged and crewed vessels. The bill, named “Energizing American Shipbuilding Act” (H.R.3829<), would … [Read more...]
How U.S. LNG Plays Havoc with Dutch Gas and Asian Shipping
By Sabina Zawadzki LONDON, June 28 (Reuters) - Dutch gas prices hit 10-year lows this week, reflecting high European inventories swelled by liquefied natural gas (LNG) imports, testing levels at which companies that committed to buy U.S. LNG will start making serious losses. Prices for month-ahead Dutch gas have dropped by two-thirds since their peak last September of just … [Read more...]
Fortress Billionaire Wes Edens Bets on U.S. Gas Exports
By Naureen S. Malik (Bloomberg) -- Wes Edens is an unlikely evangelist for the benefits of U.S. natural gas exports -- or "freedom gas," as the Department of Energy likes to call it. The 57-year-old billionaire is a creature of Wall Street. After stints at Lehman Brothers Holdings Inc. and BlackRock Inc., he co-founded Fortress Investment Group, the private equity … [Read more...]
Cheniere Signals New LNG Pricing Structure with Apache Deal
By Sabina Zawadzki LONDON, June 3 (Reuters) - Cheniere Energy said on Monday it would buy natural gas from Apache Corp's Permian assets using a price mechanism linked to the liquefied natural gas (LNG) it ends up selling and not the typical U.S. natural gas benchmark. The deal is the first sign Cheniere, by far the largest U.S. LNG seller, may move away from its signature … [Read more...]
Sempra Energy’s Louisiana Cameron LNG Plant Exports First Cargo
May 31 (Reuters) - Sempra Energy said on Friday the $10 billion Cameron liquefied natural gas export terminal in Louisiana had shipped its first cargo, making the plant the fourth big LNG export terminal to enter service in the United States. Mitsui & Co Ltd, one of the partners in the Cameron project, chartered the tanker, Marvel Crane, to pick up the commissioning … [Read more...]