Excelerate Energy, Inc. (NYSE: EE) (the Company or Excelerate) and QatarEnergy announced today the execution of a 15-year liquefied natural gas (“LNG”) Sales and Purchase agreement (“SPA”). Under the SPA, Excelerate has agreed to purchase up to 1.0 million tonnes per annum (“MTPA”) of LNG from QatarEnergy on a delivered ex-ship basis in Bangladesh for 15 years, beginning January 2026. Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027 and 1.0 MTPA from 2028 to 2040.
“This inaugural long term supply agreement with the world’s largest LNG supplier marks a new milestone in our collaboration with QatarEnergy. Qatar delivers approximately 10 percent of its current annual LNG production through Excelerate FSRUs and we are pleased to unlock further new demand in the markets where we operate,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “This agreement highlights our ability to secure critical and affordable LNG volumes for our customers with increasing natural gas demand, while driving stable, long-term economic uplift on our existing infrastructure.”
Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased to sign this agreement with Excelerate for the supply of up to one million tons per annum of LNG to Bangladesh. This new agreement will further strengthen our relationship with Excelerate while also supporting the energy requirements of the People’s Republic of Bangladesh and its stride towards greater economic development.”
As a leading provider of flexible LNG infrastructure and integrated solutions, Excelerate Energy is helping to enhance energy security for countries around the world, while supporting their transition to a clean energy future.
Monday 29 January 2024
Tuesday 23 January 2024
Wison New Energies Spearheads the Design validation and Pre-FEED for two 3MTPA FLNG Projects in Nigeria
The Design validation and Pre-FEED phase for two 3MTPA FLNG Projects of Ace Gas and FLNG (“ACE”), and Transoceanic Gas and Power （“Transoceanic”）officially commences. In this project, Wison New Energies is entrusted with the FLNG design and EPC. The contract has been successfully signed, and mobilization funds have been disbursed for this phase of the project.
The agreement is to provide the design validation and engineering studies for the design of a 3MPTA facility to support the "design one and build two strategies "to be applied across Ace and Transoceanic projects in offshore Escravos and offshore Pennington respectively. The FLNG will produce, store and offload 3MPTA LNG and associated LPG and condensates for transport to market.
Commenting on the milestone, Mr. Chris Nwokolo - Group CEO from Ace Gas and FLNG said "We’re excited about the collaboration with Wison New Energies. We thank our team, partners and the government for their efforts and support in ensuring this project becomes a reality.”
Mr. Fan Jian, Country Manager of Nigeria from Wison New Energies, remarked “Wison is excited to see the project has been officially entering into the pre-FEED stage. We’re confident that our FLNG EPCIC experience will guarantee a successful and efficient delivery. We are excited about advancing to the next stage in the near future.”
The agreement is to provide the design validation and engineering studies for the design of a 3MPTA facility to support the "design one and build two strategies "to be applied across Ace and Transoceanic projects in offshore Escravos and offshore Pennington respectively. The FLNG will produce, store and offload 3MPTA LNG and associated LPG and condensates for transport to market.
Commenting on the milestone, Mr. Chris Nwokolo - Group CEO from Ace Gas and FLNG said "We’re excited about the collaboration with Wison New Energies. We thank our team, partners and the government for their efforts and support in ensuring this project becomes a reality.”
Mr. Fan Jian, Country Manager of Nigeria from Wison New Energies, remarked “Wison is excited to see the project has been officially entering into the pre-FEED stage. We’re confident that our FLNG EPCIC experience will guarantee a successful and efficient delivery. We are excited about advancing to the next stage in the near future.”
Friday 12 January 2024
EQT Announces Tolling Agreement with Texas LNG
EQT Corporation (NYSE: EQT) ("EQT" or the "Company") today announced it has entered into a Heads of Agreement ("HOA") for liquefaction services from Texas LNG's facility in Brownsville, Texas to produce 0.5 million tons per annum of LNG under a 15-year tolling agreement. Final terms remain subject to negotiation of a definitive agreement between the parties. Texas LNG, a subsidiary of Glenfarne Energy Transition, LLC, anticipates a final investment decision on the project in 2024, with first cargo deliveries expected in 2028.
Toby Z. Rice, President and CEO, said, "This HOA with Texas LNG highlights continued momentum behind EQT's differentiated LNG strategy, which is focused on achieving the best combination of upside exposure and downside risk mitigation. Our tolling capacity gives us direct connectivity to end users of natural gas globally, allowing for end-market structuring flexibility and superior downside protection."
Rice continued, "EQT's low-cost structure, peer-leading core inventory depth and environmental attributes uniquely position us to compete and win in the global energy arena and we believe the international market will increasingly covet our molecules as a long-duration secure supply source that can drive meaningful emissions reductions via coal displacement."
Toby Z. Rice, President and CEO, said, "This HOA with Texas LNG highlights continued momentum behind EQT's differentiated LNG strategy, which is focused on achieving the best combination of upside exposure and downside risk mitigation. Our tolling capacity gives us direct connectivity to end users of natural gas globally, allowing for end-market structuring flexibility and superior downside protection."
Rice continued, "EQT's low-cost structure, peer-leading core inventory depth and environmental attributes uniquely position us to compete and win in the global energy arena and we believe the international market will increasingly covet our molecules as a long-duration secure supply source that can drive meaningful emissions reductions via coal displacement."
Monday 8 January 2024
KN Becomes Commercial Manager of Four German LNG Terminals
International energy terminal operator KN (KN Energies AB starting 10th January 2024) is kicking off the year 2024 by securing the public tender for the commercial management of four German liquefied natural gas (LNG) terminals on the North Sea coast. The company has signed contract with Deutsche Energy Terminal GmbH (DET), the German state-owned company that operates state-controlled LNG terminals.
On behalf of the German Federal Ministry for Economics Affairs and Climate Action, the DET operates Germany's first LNG terminals on the North Sea coast,
On behalf of the German Federal Ministry for Economics Affairs and Climate Action, the DET operates Germany's first LNG terminals on the North Sea coast,
Additionally, DET will operate two upcoming terminals:
The two-year contract between KN and DET covers the commercial management of all four LNG terminals. Until now, KN already provided these services for the 1 Wilhelmshaven and Brunsbüttel LNG terminals, but after DET took over the management of these facilities, a new tender was launched for the consolidated commercial management of four LNG terminals.
In recent years Germany is rapidly embarking on the development of the construction of floating LNG terminals in order to provide new sources of supply for LNG following the failure of gas supplies via pipelines from Russia. The German Government is using the state-owned liquefied natural gas terminals to secure reliable energy supplies to the federal market. Germany is expected to have a total of five FSRU-based LNG import terminals within this year, four of which will be operated by DET.
According to the contract signed by KN and DET, commercial management services for the four LNG terminals will include managing commercial and logistics operations, gas dispatching processes, accounting and reporting of the commercial activities to the DET, development and provision of IT systems and tools and other terminal operational services adapted to the customer’s needs.
The contract also includes a commitment to capacity building and knowledge transfer of KN expertise to DET staff. During the term of the contract, the objective is to train the local team to be able to ensure the commercial operation of the terminals themselves.
Darius Šilenskis, CEO of KN, is confident that the success in securing the tender can be attributed to the experience already gained by KN in the German market.
“By providing commercial management services to two German LNG terminals, we have had the opportunity to demonstrate unique competences, expertise, professionalism, and the ability to meet customers' expectations in a qualitative and prompt manner," Mr. Šilenskis stated.
KN CEO emphasizes that assuming a more significant role in the German LNG terminal projects will enhance KN's position in the European LNG terminal market. The company consistently adheres to its strategic direction of being the first choice for customers involved in the development of LNG terminals worldwide.
Dr. Peter Röttgen, Managing Director of DET is satisfied with the result of the tender: “After our initial positive experience of working together with KN at our sites in Brunsbüttel and Wilhelmshaven, we are now looking forward to continuing this fruitful and professional collaboration for all DET sites.”
KN is an international energy terminal operator responsible for ensuring safe and reliable flows of liquid energy, loading of chemicals and raw materials for Baltic consumers, while also using the company’s knowledge and skills to assist clients around the world in developing sustainable energy infrastructure projects. The company currently operates three terminals for liquid energy products in Klaipėda, Subačius, and Marijampolė, and is also the operator of liquefied natural gas (LNG) terminals in Lithuania and Brazil. To date, the company has contributed to more than 10 different LNG projects around the world.
- the second LNG terminal in Wilhelmshaven
- LNG terminal in Stade on the Lower Elbe River.
The two-year contract between KN and DET covers the commercial management of all four LNG terminals. Until now, KN already provided these services for the 1 Wilhelmshaven and Brunsbüttel LNG terminals, but after DET took over the management of these facilities, a new tender was launched for the consolidated commercial management of four LNG terminals.
In recent years Germany is rapidly embarking on the development of the construction of floating LNG terminals in order to provide new sources of supply for LNG following the failure of gas supplies via pipelines from Russia. The German Government is using the state-owned liquefied natural gas terminals to secure reliable energy supplies to the federal market. Germany is expected to have a total of five FSRU-based LNG import terminals within this year, four of which will be operated by DET.
According to the contract signed by KN and DET, commercial management services for the four LNG terminals will include managing commercial and logistics operations, gas dispatching processes, accounting and reporting of the commercial activities to the DET, development and provision of IT systems and tools and other terminal operational services adapted to the customer’s needs.
The contract also includes a commitment to capacity building and knowledge transfer of KN expertise to DET staff. During the term of the contract, the objective is to train the local team to be able to ensure the commercial operation of the terminals themselves.
Darius Šilenskis, CEO of KN, is confident that the success in securing the tender can be attributed to the experience already gained by KN in the German market.
“By providing commercial management services to two German LNG terminals, we have had the opportunity to demonstrate unique competences, expertise, professionalism, and the ability to meet customers' expectations in a qualitative and prompt manner," Mr. Šilenskis stated.
KN CEO emphasizes that assuming a more significant role in the German LNG terminal projects will enhance KN's position in the European LNG terminal market. The company consistently adheres to its strategic direction of being the first choice for customers involved in the development of LNG terminals worldwide.
Dr. Peter Röttgen, Managing Director of DET is satisfied with the result of the tender: “After our initial positive experience of working together with KN at our sites in Brunsbüttel and Wilhelmshaven, we are now looking forward to continuing this fruitful and professional collaboration for all DET sites.”
KN is an international energy terminal operator responsible for ensuring safe and reliable flows of liquid energy, loading of chemicals and raw materials for Baltic consumers, while also using the company’s knowledge and skills to assist clients around the world in developing sustainable energy infrastructure projects. The company currently operates three terminals for liquid energy products in Klaipėda, Subačius, and Marijampolė, and is also the operator of liquefied natural gas (LNG) terminals in Lithuania and Brazil. To date, the company has contributed to more than 10 different LNG projects around the world.
Thursday 4 January 2024
Cedar LNG awards EPC contract for state-of-the-art floating LNG production unit
The Haisla Nation and Pembina Pipeline Corporation (Pembina) (TSX: PPL) (NYSE: PBA), partners in the development of the proposed Cedar LNG Project (Cedar LNG), today announced Samsung Heavy Industries (SHI) and Black & Veatch have been selected to provide engineering, procurement and construction for the design, fabrication and delivery of the Project's floating LNG production unit (FLNG), subject to a Final Investment Decision (FID).
"This is a critical milestone on our path towards a FID for Cedar LNG, the first Indigenous majority-owned LNG project in the world," said Doug Arnell, Cedar LNG Chief Executive Officer. "We have secured world-class FLNG expertise and look forward to working with SHI and Black & Veatch to build an LNG facility with one of the cleanest environmental profiles in the world that will usher in a new era of low carbon, sustainable LNG production."
"Our role in helping Cedar LNG make history on this world-class facility aligns with our commitment to deliver a reliable and resilient global energy supply as a leader in the world's energy transition," said Mario Azar, Black & Veatch Chairman & Chief Executive Officer.
Cedar LNG now has major regulatory approvals, signed memorandums of understanding for long-term liquefaction services for the project's total LNG capacity, and with the achievement of this milestone, the Project is at an advanced stage of planning and development with a FID expected by the end of the first quarter 2024.
Subject to a positive FID, onshore construction work for the project could commence as early as the second quarter 2024, with the delivery of the FLNG and substantial completion expected in 2028.
"This is a critical milestone on our path towards a FID for Cedar LNG, the first Indigenous majority-owned LNG project in the world," said Doug Arnell, Cedar LNG Chief Executive Officer. "We have secured world-class FLNG expertise and look forward to working with SHI and Black & Veatch to build an LNG facility with one of the cleanest environmental profiles in the world that will usher in a new era of low carbon, sustainable LNG production."
"Our role in helping Cedar LNG make history on this world-class facility aligns with our commitment to deliver a reliable and resilient global energy supply as a leader in the world's energy transition," said Mario Azar, Black & Veatch Chairman & Chief Executive Officer.
Cedar LNG now has major regulatory approvals, signed memorandums of understanding for long-term liquefaction services for the project's total LNG capacity, and with the achievement of this milestone, the Project is at an advanced stage of planning and development with a FID expected by the end of the first quarter 2024.
Subject to a positive FID, onshore construction work for the project could commence as early as the second quarter 2024, with the delivery of the FLNG and substantial completion expected in 2028.
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