• 3 minutes In a Nutshell...
  • 5 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 7 minutes Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 9 minutes Why Oil could hit $100
  • 7 hours COVID is real now
  • 1 day Is Biden the poster child for White Privilege ? DNC needs to replace him now before it's too late.
  • 14 hours The Boris Yeltsin of America
  • 10 hours Where is Alberta, Canada headed?
  • 24 hours Why Putin is popular in Russia
  • 3 hours Is The Three Gorges Dam on the Brink of Collapse?
  • 5 hours Joe Biden offers advice to correct the public health
  • 10 hours There Has Been No Trump Manufacturing Boom Even Before Covid
  • 20 hours Fauci: "USA will soon have 100K new cases per day". Trump re(p)-lies: "The problem has been fixed"

Breaking News:

Oil Climbs On Major Crude Draw

Is This The End Of The American Pipeline Boom?

Is This The End Of The American Pipeline Boom?

The Dakota Access Pipeline is…

U.S. LNG Industry Needs Prices To Double

U.S. LNG Industry Needs Prices To Double

Large U.S. LNG projects are…

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