US

US DOE approves additional LNG exports from Freeport LNG

The US Department of Energy approved additional exports of domestically produced natural gas from the Freeport LNG Terminal located on Quintana Island, Texas. The expansion of the Freeport LNG facility is estimated to support up to 3,000 engineering and construction jobs and hundreds of indirect jobs related to the project.

ICS Chairman: Exact cost of 2020 sulphur cap the big unknown

Esben Poulsson, the Chairman of ICS has commended the Cyprus Shipping Chamber (CSC) as being a ‘model member’. Mr. Poulsson also highlighted that the lifting of the restrictions that Turkey has imposed on Cypriot-flagged ships would lead to a a win-win situation. Moreover, he expressed ICS’s full support on 2020 sulphur cap, but highlighted its concerns regarding the prices of the new fuels.

First small-scale waterside LNG terminal in the US now operational

On 16 May, JAX LNG, a liquefied natural gas facility located at Dames Point in Jacksonville, Florida, held a ribbon-cutting ceremony to signify the official start-up of the newly constructed plant. JAX LNG is the first small-scale LNG facility in the US with both marine and truck-loading capabilities.

US natural gas and oil achieve strong April

The American Petroleum Institute published its latest Monthly Statistical Report showing that US crude oil production sustained a record-tying 12.1 million barrels per day (mb/d) in April. Moreover, total petroleum demand was the highest for the month since 2007 at 20.2 million barrels per day.

LNG production begins at Cameron LNG export terminal

Total announced that the Cameron LNG project has achieved first LNG production from train 1. The project will begin exports in the following weeks. Phase 1 of the Cameron LNG project of 13.5 million tonnes per annum capacity includes three LNG trains of 4.5 Mtpa each. Construction is currently taking place for trains 2 and 3 with first production expected by the turn of the year and mid-2020 respectively.

Global LNG imports increase in 2018 compared to 2017

According to the International Gas Union’s Wholesale Gas Price Survey, dramatic changes have taken place in the natural gas wholesale price formation during a period of major developments in the global gas market. The share of spot LNG imports reached just over 30% of total LNG imports in 2018, amounting to about 126 BCM, which is an increase of 65 BCM since 2016, or 10.5%.

LNG imports moderated price increases in New England

As EIA informs, during winter 2018-2019, imports of LNG at terminals serving New England played an important role in moderating natural gas prices in the region. LNG imports are regasified at these terminals and then sent to natural gas distribution networks. Dpot natural gas prices in New England are more volatile during winter months, as cold weather drives increasing regional natural gas demand.

2018 the most profitable year for US oil producers in five years

EIA informed that net income for 43 US oil producers totaled $28 billion in 2018, which is a five-year high. According to the net income, 2018 was the most profitable year for these US oil producers since 2013, in spite of crude oil prices that were lower in 2018 than in 2013 on an annual average basis. These companies accounted for about one-third of total US crude oil and natural gas liquids production in the fourth quarter of 2018.

Oregon rejects water quality certificate to Jordan Cove LNG

The Oregon Department of Environmental Quality issued a decision on Jordan Cove’s application for a Section 401 Water Quality Certification. DEQ denied the requested certification at this time. DEQ denied the requested water quality certification at this time due to insufficient information to demonstrate compliance with water quality standards.

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