Today, Venture Global LNG and CNOOC Gas & Power Group Co., Ltd., a wholly owned subsidiary of China National Offshore Oil Corporation (CNOOC), announced the execution of a 20-year Sales and Purchase Agreement (SPA). This marks the first LNG supply agreement signed by a US exporter with CNOOC, China’s largest importer of LNG. Under the deal, Venture Global will supply 2 million tonnes per annum (MTPA) of LNG on a free on board (FOB) basis from its Plaquemines LNG export facility, in Plaquemines Parish, Louisiana. In addition, CNOOC Gas & Power will purchase 1.5 million tonnes (MT) of LNG from Venture Global’s Calcasieu Pass LNG facility for a shorter duration.
“Venture Global is pleased to announce the expansion of our footprint in Asia through two new deals to supply the Chinese market with clean, low-cost US LNG,” said Mike Sabel, Chief Executive Officer of Venture Global LNG. “China is critical to global climate efforts, and LNG supplied by Venture Global will serve as an important addition to their low carbon energy mix for decades. This new long-term partnership with CNOOC builds on our company’s continued momentum in a very active 2021.”
“As China’s largest LNG importer, CNOOC is committed deeply not only to the mission of securing China’s gas supply, but also to the climate goals of building a carbon-neutral China by 2060,” said Shi Chenggang, Chairman of CNOOC Gas & Power. “We are pleased to announce our long-term LNG cooperation with Venture Global. By signing the SPAs with Venture Global, CNOOC will be able to further improve its ability to meet China’s increasing gas demand, whilst provide solid support for China’s energy transition pathway to build a more “beautiful China”.
Tuesday 21 December 2021
PETRONAS Awards FEED Contracts for Sabah's Nearshore LNG Project
PETRONAS has awarded two Front End Engineering Design (FEED) contracts to a JGC Corporation-Samsung Heavy Industries consortium and to SAIPEM Spa as part of an international dual FEED design competition for a nearshore liquefied natural gas (LNG) project in Sabah.
The project, with a minimum capacity of 2.0 million tonnes per annum (MTPA) is a first of its kind in Malaysia.
The FEED design competition is expected to take place over the course of 10 months with the Final Investment Decision (FID) planned for end of 2022.
Subject to FID, the winning FEED contractor will be rolled over to the Engineering, Procurement, Construction and Commissioning (EPCC) phase. The nearshore LNG plant is planned to be Ready for Start Up (RFSU) by end of 2026.
The design and construction of the nearshore plant is expected to be simpler and upon completion, has the potential for improved production uptime as it will be located within a protected bay area as compared to an offshore floating LNG facility in the open seas.
PETRONAS Executive Vice President and Chief Executive Officer of Gas and New Energy Adnan Zainal Abidin said, “PETRONAS continues to provide greater access to cleaner energy sources such as natural gas. The development of Sabah’s first nearshore LNG plant reflects our technological expertise where we continue to innovate modern solutions to monetise gas resources in an optimised and environmental-friendly manner.”
Upon completion, the nearshore LNG plant will increase PETRONAS’ LNG production from floating LNG facilities from 2.7 MTPA to 4.7 MTPA. Currently, PETRONAS operates two floating LNG facilities, the PFLNG SATU and PFLNG DUA, at the Kebabangan and Rotan offshore gas fields respectively.
The project, with a minimum capacity of 2.0 million tonnes per annum (MTPA) is a first of its kind in Malaysia.
The FEED design competition is expected to take place over the course of 10 months with the Final Investment Decision (FID) planned for end of 2022.
Subject to FID, the winning FEED contractor will be rolled over to the Engineering, Procurement, Construction and Commissioning (EPCC) phase. The nearshore LNG plant is planned to be Ready for Start Up (RFSU) by end of 2026.
The design and construction of the nearshore plant is expected to be simpler and upon completion, has the potential for improved production uptime as it will be located within a protected bay area as compared to an offshore floating LNG facility in the open seas.
PETRONAS Executive Vice President and Chief Executive Officer of Gas and New Energy Adnan Zainal Abidin said, “PETRONAS continues to provide greater access to cleaner energy sources such as natural gas. The development of Sabah’s first nearshore LNG plant reflects our technological expertise where we continue to innovate modern solutions to monetise gas resources in an optimised and environmental-friendly manner.”
Upon completion, the nearshore LNG plant will increase PETRONAS’ LNG production from floating LNG facilities from 2.7 MTPA to 4.7 MTPA. Currently, PETRONAS operates two floating LNG facilities, the PFLNG SATU and PFLNG DUA, at the Kebabangan and Rotan offshore gas fields respectively.
Tank Roofs raised on all four 220,000 cubic meters storage tanks of the Longkou LNG project
On December 15, 2021, the national natural gas infrastructure interconnection and the key project of the Bohai Rim production, supply, storage and marketing system-the first phase of the first phase of the Longkou Nanshan LNG Receiving Station Project (hereinafter referred to as Longkou LNG) of the State Pipeline Network Group 22 The top of the 10,000 cubic meter storage tank was successfully raised. Since the topping of the 4 storage tanks of the Tianjin LNG receiving station on November 15th, the National Pipeline Network Group has successfully completed the topping of 8 220,000 cubic meters of LNG storage tanks within one month.
The Longkou LNG project is located in Longkou Port District, Yantai City, Shandong Province. The annual construction scale of the first phase of the project is 5 million tons of LNG. It is planned to be completed and put into operation in 2023. By then, Longkou LNG's single-day natural gas transmission capacity will reach 40 million cubic meters, which will be able to provide continuous and stable clean energy for Shandong Province and even the Bohai Rim region, effectively enhance the capacity of regional peak shaving, emergency storage and winter supply, which is important for promoting my country's energy Structural adjustment, promotion of regional economic development, and achieving carbon peak and carbon neutrality are of great significance.
The gas-lifting operation of the storage tank completed this time is one of the most difficult, most complex and risky procedures in the construction of large-scale LNG storage tanks. The principle is to deliver low-pressure air to the sealed space in the tank to overcome the tank roof structure. The self-weight and the friction with the tank wall are raised to the design height at a uniform speed, and are connected with the compression ring to form a complete dome structure.
The 220,000 cubic meter storage tank of Longkou LNG Phase I project has a single bearing platform with a diameter of 93.4 meters and a tank height of 60.4 meters. The space inside the tank can stack two Boeing 747 passenger planes; the dome structure weighs about 850 tons, which is more than domestic The weight of the dome of the same type of storage tank is reduced by about 300 tons, realizing the optimal design; the dome span is 88 meters, and the lifting height is 44.5 meters. The successful completion of the gas jacking operation of the storage tank marked the transition of the project construction from the civil construction stage to the installation stage, laying a solid foundation for the smooth commissioning of the project.
The Longkou LNG project is located in Longkou Port District, Yantai City, Shandong Province. The annual construction scale of the first phase of the project is 5 million tons of LNG. It is planned to be completed and put into operation in 2023. By then, Longkou LNG's single-day natural gas transmission capacity will reach 40 million cubic meters, which will be able to provide continuous and stable clean energy for Shandong Province and even the Bohai Rim region, effectively enhance the capacity of regional peak shaving, emergency storage and winter supply, which is important for promoting my country's energy Structural adjustment, promotion of regional economic development, and achieving carbon peak and carbon neutrality are of great significance.
The gas-lifting operation of the storage tank completed this time is one of the most difficult, most complex and risky procedures in the construction of large-scale LNG storage tanks. The principle is to deliver low-pressure air to the sealed space in the tank to overcome the tank roof structure. The self-weight and the friction with the tank wall are raised to the design height at a uniform speed, and are connected with the compression ring to form a complete dome structure.
The 220,000 cubic meter storage tank of Longkou LNG Phase I project has a single bearing platform with a diameter of 93.4 meters and a tank height of 60.4 meters. The space inside the tank can stack two Boeing 747 passenger planes; the dome structure weighs about 850 tons, which is more than domestic The weight of the dome of the same type of storage tank is reduced by about 300 tons, realizing the optimal design; the dome span is 88 meters, and the lifting height is 44.5 meters. The successful completion of the gas jacking operation of the storage tank marked the transition of the project construction from the civil construction stage to the installation stage, laying a solid foundation for the smooth commissioning of the project.
Monday 20 December 2021
Venture Global and Louisiana Governor John Bel Edwards Announce Proposed CP2 LNG Export Facility
Today, Venture Global LNG and Louisiana Governor John Bel Edwards announced the company will invest more than $10 billion to develop a fourth LNG export facility in the State of Louisiana. The new project, CP2 LNG (“CP2”) will be located in Cameron Parish, adjacent to Venture Global’s first facility, Calcasieu Pass. This announcement brings Venture Global’s total planned capital investment in the State of Louisiana to more than $20 billion. CP2 will result in thousands of good paying jobs and an estimated $2 billion in new local revenue during the life of the project. The direct new jobs created by the project will have average annual salaries of $120,000 plus benefits.
“Venture Global is proud to continue our expansion in Louisiana with the launch of our next project, CP2 LNG. CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal. These two projects, combined with our Plaquemines LNG facility now under construction, represent more than $20 billion of investment in the State of Louisiana and will create thousands of jobs—including both permanent and construction jobs,” said Venture Global CEO Mike Sabel. “With two major LNG export projects currently under active construction, Venture Global is on a mission to produce the cleanest, low-cost LNG in North America. We are proud to partner with Louisiana in these efforts and in developing Carbon Capture and Sequestration (CCS) for our facilities. Under the leadership of Governor John Bel Edwards, Louisiana is enhancing its status as an international hub for innovation to tackle the energy and climate challenges of our time.”
“Venture Global has invested significantly in Louisiana’s economy, and I am proud to celebrate this exciting new project with them,” said Louisiana Governor John Bel Edwards. “The CP2 facility in Cameron will create more than 1,000 new permanent jobs and thousands of construction jobs in the area, which will have a significant impact on our economy. And it is incorporating clean energy technology that reduces the amount of CO2 released into the atmosphere, which is significant for our environment. As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain industry without sacrificing our long-term carbon-reduction goals.”
Today, Venture Global also announced that it has submitted a formal application requesting authorization from the Federal Energy Regulatory Commission (FERC) to site, construct and operate the CP2 LNG facility and the CP express pipeline. CP2 LNG will build, own and operate a liquified natural gas (LNG) terminal with a nameplate liquification capacity of 20 million metric tonnes per annum (MTPA) of LNG. The CP Express pipeline will provide natural gas to the CP2 LNG facility.
“Venture Global is proud to continue our expansion in Louisiana with the launch of our next project, CP2 LNG. CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal. These two projects, combined with our Plaquemines LNG facility now under construction, represent more than $20 billion of investment in the State of Louisiana and will create thousands of jobs—including both permanent and construction jobs,” said Venture Global CEO Mike Sabel. “With two major LNG export projects currently under active construction, Venture Global is on a mission to produce the cleanest, low-cost LNG in North America. We are proud to partner with Louisiana in these efforts and in developing Carbon Capture and Sequestration (CCS) for our facilities. Under the leadership of Governor John Bel Edwards, Louisiana is enhancing its status as an international hub for innovation to tackle the energy and climate challenges of our time.”
“Venture Global has invested significantly in Louisiana’s economy, and I am proud to celebrate this exciting new project with them,” said Louisiana Governor John Bel Edwards. “The CP2 facility in Cameron will create more than 1,000 new permanent jobs and thousands of construction jobs in the area, which will have a significant impact on our economy. And it is incorporating clean energy technology that reduces the amount of CO2 released into the atmosphere, which is significant for our environment. As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain industry without sacrificing our long-term carbon-reduction goals.”
Today, Venture Global also announced that it has submitted a formal application requesting authorization from the Federal Energy Regulatory Commission (FERC) to site, construct and operate the CP2 LNG facility and the CP express pipeline. CP2 LNG will build, own and operate a liquified natural gas (LNG) terminal with a nameplate liquification capacity of 20 million metric tonnes per annum (MTPA) of LNG. The CP Express pipeline will provide natural gas to the CP2 LNG facility.
Thursday 16 December 2021
MOL and Vopak reach agreement to jointly own and operate the FSRU for the new LNG terminal in Hong Kong
Mitsui O.S.K. Lines, Ltd. (MOL) and Royal Vopak (Vopak) announce an agreement has been
reached, whereby Vopak will acquire 49.99% of the shares in the vessel owning company of
MOL FSRU Challenger, whose name will be changed to Bauhinia Spirit. This new joint venture
company between MOL and Vopak in Hong Kong will own the world’s largest floating storage
and regasification unit (FSRU) and have a long-term contract with Hong Kong LNG Terminal
Limited.1 The FSRU has a storage and regasification capacity of 263,000 cbm and 800 mmscfd,
respectively. Under the contract, the joint venture will provide the FSRU as well as jetty
operations & maintenance and port services.
The offshore jetty platform for the mooring of the FSRU and LNG carriers are owned by Hong
Kong LNG Terminal Limited. The terminal is currently under construction and is expected to be
operational around mid 2022. The terminal will be located offshore about 25 km southwest of
Hong Kong Island. The terminal will provide natural gas feedstock to the customer’s dedicated
power plants. It is being developed to support the Hong Kong Special Administrative Region
(HKSAR) government’s target to improve air quality and environmental conditions by increasing
the percentage of power generation by natural gas.
Both MOL and Vopak are excited to contribute to the success of Hong Kong's first ever LNG
import terminal based on the companies’ complementary strengths, combining their experiences
related to the LNG industry including FSRU, and offshore jetty platform operations &
maintenance respectively. Being the global market leaders in their respective fields, MOL is
involved in over 100 LNG carrier and FSRU projects with Vopak having a portfolio of 4 LNG
terminals in operation and more than 300 jetties across its global terminal network.
“An ideal complementary relationship works by combining Vopak's many years of experience as
a terminal operator for oils, chemicals and liquefied gas with MOL's know-how of LNG carrier
and FSRU operation. MOL looks forward to further working with Vopak on this promising proand feels confident that with our joint forces, we will be able to establish a safe and reliable
operation structure for the Hong Kong FSRU project.” said Takeshi Hashimoto, President &
CEO of MOL.
Eelco Hoekstra, Chairman of the Executive Board & CEO of Royal Vopak, said “We very much
look forward to further strengthening our partnership with MOL and to actively contribute
together to the energy transition policy of the government in Hong Kong. This cooperation gives
Vopak an excellent entry in the growing LNG market in Hong Kong and fits our ambition to
diversify our service offering in LNG by investing in FSRUs.”
This agreement follows MOL’s earlier announcement whereby MOL has entered into a long-
term contract with the customer and an agreement with Vopak for jetty support. The transaction
is subject to customary conditions, including closing, refinancing and obtaining (regulatory)
approvals, with the expected completion after the commissioning of the terminal around mid
2022.
Based on these joint initiatives, MOL and Vopak also aim to explore further downstream
opportunities for bunkering of LNG as a cleaner marine fuel in Hong Kong, where is one of the
major bunkering port of fuel oils for marine transportation. MOL has a plan to operate
approximately 90 LNG-fueled vessels by 2030, which is a part of MOL Group Environmental
Vision 2.1, aiming for Net Zero GHG emission by 2050.
- Length : 345.00 m
- Beam : 55.00 m
- LNG storage capacity : 263,000 m3
- Regas discharging capacity : 800 mmscfd
- Delivery : 2017
Wednesday 15 December 2021
Scarborough And Pluto Train 2 Developments Approved
Final investment decisions have been made to approve the Scarborough and Pluto Train 2 developments, including new domestic gas facilities and modifications to Pluto Train 1.
The US$12.0 billion (100%, $6.9 billion Woodside share) LNG development is expected to deliver significant cash flow and enduring value to shareholders. Scarborough gas processed through Pluto Train 2 will be one of the lowest carbon intensity sources of LNG delivered to customers in north Asia, with first LNG cargo targeted for 2026.
With the sell-down of 49% of Pluto Train 2 announced on 15 November 2021, the expected investment
metrics for the integrated development are:
• An internal rate of return (IRR) of above 13.5%
• An all-in cost of supply for LNG delivered to north Asia of approximately $5.8/MMBtu
• A payback period of 6 years.1
Woodside’s overall corporate 2P Total Reserves has increased by approximately 158% to 2,342.0 MMboe. Woodside CEO Meg O’Neill said approving the development of the world-class Scarborough gas resource is a landmark achievement for Woodside.
“Today’s decisions set Woodside on a transformative path. Scarborough will be a significant contributor to Woodside’s cash flows, the funding of future developments and new energy products, and shareholder returns. “This capital efficient development leverages Woodside’s existing infrastructure and our proven expertise in project execution. The contracting model, development concept and execution strategy have been designed to reduce cost risk and protect shareholder value.
“The Scarborough reservoir contains only around 0.1% carbon dioxide, and Scarborough gas processed
through the efficient and expanded Pluto LNG facility supports the decarbonisation goals of our customers in Asia.
“The final investment decision is underpinned by quality customer support with approximately 60% of
Scarborough capacity contracted, including domestic gas for the proposed Perdaman urea project.
“Developing Scarborough delivers value for Woodside shareholders and significant long-term benefits locally and nationally, including thousands of jobs, taxation revenue and the supply of gas to export and domestic markets for decades to come,” she said.
Sembcorp Marine to Support Bechtel in the Construction of Gas Processing Train for Pluto Train 2 Project
Sembcorp Marine Ltd, through its wholly-owned subsidiary, Sembcorp Marine Offshore Platforms Pte. Ltd. (“SMOP”), has entered into a contract with Bechtel Overseas Corporation (“Bechtel”) for module assembly of the second LNG train to be constructed at the Pluto LNG Project (“Pluto Train 2”).
Bechtel and SMOP will form an integrated management team to manage the module assembly programme for Pluto Train 2, scheduled to be completed in 2024.
Pluto LNG is a single onshore LNG processing train located on the Burrup Peninsula near Karratha in the north-west of Western Australia and currently processes gas from the Pluto and Xena offshore fields. Woodside has operated Pluto LNG safely and reliably since its start-up in 2012. The construction of Pluto Train 2 will expand Pluto’s existing processing capacity by around five million tonnes per annum and allow for the processing of third-party gas resources.
Sembcorp Marine Head of Offshore Platforms Mr Samuel Wong said, “Sembcorp Marine is pleased to collaborate once again with Bechtel on an Australian LNG project. The Group looks forward to executing the project safely and efficiently and we thank Bechtel for their continued trust in our capabilities.”
Previous collaborations between Sembcorp Marine and Bechtel include Australia Pacific LNG project and the Wheatstone LNG project.
The aforementioned contract is not expected to have any material impact on the net tangible assets and earnings per share of the Group for the year ending 31 December 2021.
Bechtel and SMOP will form an integrated management team to manage the module assembly programme for Pluto Train 2, scheduled to be completed in 2024.
Pluto LNG is a single onshore LNG processing train located on the Burrup Peninsula near Karratha in the north-west of Western Australia and currently processes gas from the Pluto and Xena offshore fields. Woodside has operated Pluto LNG safely and reliably since its start-up in 2012. The construction of Pluto Train 2 will expand Pluto’s existing processing capacity by around five million tonnes per annum and allow for the processing of third-party gas resources.
Sembcorp Marine Head of Offshore Platforms Mr Samuel Wong said, “Sembcorp Marine is pleased to collaborate once again with Bechtel on an Australian LNG project. The Group looks forward to executing the project safely and efficiently and we thank Bechtel for their continued trust in our capabilities.”
Previous collaborations between Sembcorp Marine and Bechtel include Australia Pacific LNG project and the Wheatstone LNG project.
The aforementioned contract is not expected to have any material impact on the net tangible assets and earnings per share of the Group for the year ending 31 December 2021.
Subscribe to:
Posts (Atom)