• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 5 hours Governments that wasted massive windfalls
  • 29 mins Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 2 hours Let’s take a Historical walk around the Rig
  • 16 hours Trump has changed into a World Leader
  • 5 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 4 hours Here is Why People Lose Money Trading Natural Gas
  • 1 day Beijing Must Face Reality That Taiwan is Independent
  • 2 days Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 hours US Shale: Technology
  • 7 hours 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 13 hours Trump capitulated
  • 2 days Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)

Breaking News:

Brazil Decides Against Joining OPEC

Alt Text

Why U.S. LNG Can’t Win In Europe

Competition in EU gas markets…

Jen Alic

Jen Alic

 

More Info

Premium Content

BG Group Gets US LNG Export Approval

BG Group (LON:BG) and Southern Union are the third to get the green light from the federal government to export LNG to all countries from a planned facility in Lake Charles, Louisiana.

On Wednesday, the US Department of Energy approved the group’s export plans and now they will just wait on approval from the Federal Energy Regulatory Commission (FERC) for terminal construction plans.

The State Department’s green light means that BG Group and Southern Union will be able to export 2 billion cubic feet of natural gas per day for 20 years.

Related article: This Week in Energy: Another move forward on US LNG exports

This is good news for Britain’s BG Group, but it’s not nearly as good as the deal it’s got in Equatorial Guinea, where, according to the Financial Post, the company’s 2004 contract is as good as it gets.

Essentially, according to the report citing anonymous sources, BG agreed to buy all of Equatorial Guinea’s LNG for 17 years and gets to keep almost all the profit for this gas, which it sells at five times the price in Asia.

It’s not a deal that anyone else is going to get ever again.

By. Jen Alic of Oilprice.com




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play