• 1 day PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 1 day Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 1 day Syrian Rebels Relinquish Control Of Major Gas Field
  • 1 day Schlumberger Warns Of Moderating Investment In North America
  • 1 day Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 1 day Energy Regulators Look To Guard Grid From Cyberattacks
  • 2 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 2 days New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 2 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 2 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 2 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 3 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 3 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 4 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 4 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 4 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 4 days China To Take 5% Of Rosneft’s Output In New Deal
  • 4 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 5 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 5 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 5 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 6 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
Alt Text

The Natural Gas Market Is Set To Boom

With the new lower-for-longer oil…

Alt Text

The U.S. LNG Boom Could Be About To Stall

United States LNG has seen…

Oil & Gas 360

Oil & Gas 360

From our headquarters in Denver, Colorado, Oil & Gas 360® writes in-depth daily coverage of the North American and global oil and gas industry for…

More Info

Another U.S. LNG Export Project To Come Online In Q4

LNG

Liquefied natural gas, long the domain of foreign producers like Qatar, has come to the U.S., with many LNG projects in the works. In general, these projects are progressing quickly, and several have released recent updates on their operations.

Cove Point on schedule to become second U.S. project to begin exports

While most planned LNG facilities are located in either Louisiana or Texas, a few will be constructed outside of the Gulf. One of these, Dominion Energy’s (ticker: D) Cove Point in Maryland, is queued to become the second major U.S. LNG export facility to begin shipping cargoes, following Cheniere Energy (ticker: LNG) which in February 2016 became the first LNG export project to begin shipping liquefied U.S. natural gas to international customers.

“The Cove Point export project remains on schedule for completion in the fourth quarter of this year,” a spokesman for Dominion Energy told Oil & Gas 360® via email. In its September update, Cove Point posted a statement on its website saying that “the liquefaction project is 95 percent complete; there are currently more than 3,200 construction workers on site. The company said all of the major equipment has been placed, cranes have been removed and now the focus is on commissioning activities.

Cove Point is currently an LNG import facility, but the rise of unconventional production from the Marcellus has pushed the facility to be retooled to export gas. Cove Point will have a total capacity of 5.7 MTPA when fully operational.

Related: The Driving Forces Behind Today’s Oil Markets

Jordan Cove files for FERC approval-for a third time

One of the other main LNG facilities outside the Gulf has also seen new developments. Veresen’s (ticker: VSN) Jordan Cove announced last week it has filed for FERC approval, seeking the go-ahead for the project. Located in Oregon, Cove Point is a planned 7.8 MTPA terminal.

This is the third time Jordan Cove has filed for FERC approval, and the company hopes that its changes have addressed previous objections. According to Veresen, “the application includes the elimination of a 420 MW power plant, reflects more than 50 route adjustments of Pacific Connector and the optimization of multiple water crossings to minimize environmental impacts via trenchless drilling techniques.”

Jordan Cove anticipates FERC will make a decision on this project by the end of 2018, which would allow FID in 2019 and an in-service date of 2024.

Calcasieu Pass finds long-term LNG buyer in Europe

Venture Global announced yesterday it has entered into a contract with Edison, an Italian power company, for the supply of LNG. Edison will purchase 1 MTPA from Venture Global’s Calcasieu Pass facility to power Italian facilities. The gas will be purchased on a free on-board basis for a 20-year term beginning when Calcasieu Pass begins operations.

Venture Global is currently awaiting approval from FERC for its project, and expects this approval in mid-2018. If this approval is granted, FID will take place in 2018, and commercial operations would begin in 2021. Calcasieu Pass is expected to have about 10.8 MTPA of export capacity.

This is not the first LNG contract Venture Global’s Calcasieu Pass has signed, as the company entered into an identical agreement with Shell in 2016.

By Oil and Gas 360

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment
  • Tom on September 30 2017 said:
    That must be a huge win for Marcellus drillers with a 20 year filled contract. Who are they?

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News