Norway’s DeepOcean has entered into a contract for long term charter of an offshore support and construction vessel (OSCV) from Rem Ship AS.
“DeepOcean is established as a leading subsea services and installation contractor in the North Sea. In order to maintain and strengthen our leading position in this market, we are currently investing in our fleet of owned and chartered vessels.” says DeepOcean AS President Mads Bardsen.
The new build is a MT6022 design, with length of 108 meters and 22 meters breadth. The vessel is scheduled for delivery in the first quarter of 2014.
In addition to the new build, DeepOcean has already chartered the Rem Forza from Rem Ship AS. The vessel will be fitted with an AHC offshore crane and two work class ROVs and associated Launch and Recovery Systems.
GVEA announced that it has entered into a natural gas supply contract with BP Exploration (Alaska) Inc. Under the contract, the cooperative may purchase up to 23 billion cubic feet of natural gas each year for 20 years.
This positions GVEA as the aggregator, which is kind of like a wholesaler. All fuel purchases will flow through Golden Valley.
This contract benefits the Interior in many ways, including:
- It meets GVEA’s needs for electrical generation. GVEA can convert the North Pole Expansion Power Plant to burn natural gas, displacing expensive oil-fired generation.
- It allows for the expansion of a natural gas distribution infrastructure in the Interior. The high cost of space heating is crushing Interior Alaska. GVEA will be able to supply the natural gas, opening up opportunities for distribution system expansion.
“Beyond satisfying our own electrical generation needs, we recognized an opportunity to address the energy crisis facing Interior Alaska’s residents and businesses, in particular, the high cost of space heating,” said Cory Borgeson, GVEA Interim President & CEO. “BP’s willingness to work with our cooperative to address Interior Alaska’s energy crisis is appreciated and is crucial to the long-term success of our communities.”
It is difficult to determine the precise impact this natural gas contract will have on the average Interior resident’s electric bill. Savings are contingent on the price of other fuel sources, including oil. Adding natural gas to our fuel mix will help GVEA stabilize rates and provides an opportunity for decreased fuel costs.
Providing the project stays on track, natural gas is expected in the Interior by 2015.
Mitsubishi Corporation said it has signed a Commercial Development Agreement with Cameron LNG, a subsidiary of Sempra Energy, to liquefy approximately 4 million metric tones of natural gas at Cameron LNG terminal.
The agreement binds the parties to negotiate a 20-year tolling agreement, based on agreed-upon terms outlined in the Commercial Development Agreement. The intending tolling agreement will enable Mitsubishi Corporation to become a foundation customer of LNG produced at Cameron LNG terminal, and Mitsubishi Corporation will market them to overseas utility customers.
In recent years, due to the rapid increase of natural gas production in the United States, some LNG receiving terminals are planned to be converted to LNG export terminals by additionally building liquefaction facilities.
Cameron LNG receiving terminal in Hackberry is expected to start conversion in late 2013 with operations to commence in late 2016. The completed liquefaction facility will utilize Cameron LNG’s existing facilities, and is expected to be comprised of three liquefaction trains with a total export capability of approximately 12 million tonnes per annum (Mtpa) of liquefied natural gas (LNG). In January 2012, Cameron LNG received approval from the U.S. Department of Energy (DOE) to export up to 12 Mtpa of domestically produced LNG from the Cameron LNG terminal to all current and future Free Trade Agreement countries. The authorization to export LNG to countries with which the U.S. does not have a Free Trade Agreement is pending review by the DOE. Cameron LNG expects to receive the required permits from the Federal Energy Regulatory Commission (FERC) and enter into a turnkey contract in 2013 for engineering and construction services for the project.
Natural gas which Mitsubishi Corporation will procure from the North American natural gas market will be processed through the Cameron LNG facility pursuant to a tolling agreement for 4 Mtpa, which LNG will then be marketed to utility customers. To secure natural gas from the market in safely and cost competitive manner, Mitsubishi Corporation will utilize expertise of independent gas marketer CIMA Energy Ltd. (headquartered in Houston, Texas) which Mitsubishi Corporation holds 34% share.
Under a situation where Japan is currently importing LNG mainly from the Middle East and Southeast Asia, LNG import from the United States will contribute to diversification of energy resources and increase flexibility of supply plan by utilizing fluid North America’s natural gas market in parallel.
- USA: Sempra Wins DOE Approval for Cameron LNG Export (mb50.wordpress.com)
- USA: Freeport LNG to Buy Land for Gas Pretreatment Facility (mb50.wordpress.com)
- Will the US Become the World’s Largest Exporter of LNG? (appliedagrotech.net)
- USA: Cheniere, KOGAS Ink Sabine Pass LNG Deal (mb50.wordpress.com)
- USA: ETE Units File with FERC for Proposed Lake Charles Liquefaction Project (mb50.wordpress.com)
Cheniere Energy Partners, L.P. said today that its subsidiary, Sabine Pass Liquefaction, LLC, has entered into a LNG sale and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) under which KOGAS has agreed to purchase approximately 3.5 mtpa of LNG upon the commencement of train three operations.
Under the SPA, KOGAS will purchase LNG on an FOB basis for a purchase price indexed to the monthly Henry Hub price plus a fixed component. LNG will be loaded onto KOGAS’s vessels. The SPA has a term of twenty years commencing upon the date of first commercial delivery for train three, and an extension option of up to ten years. Deliveries from train three are expected to occur as early as 2017. The SPA is subject to certain conditions precedent, including but not limited to Sabine Liquefaction receiving regulatory approvals, securing necessary financing arrangements and making a final investment decision to construct the second phase of the liquefaction project.
“KOGAS is our fourth foundation customer and we have now sold 16 mtpa of the 18 mtpa being developed at the Sabine Pass LNG terminal. KOGAS is a strong addition to our portfolio of customers as it is the largest LNG importer in the world and the dominant gas provider for the Republic of Korea, a nation that is soon to become a Free Trade Nation with the U.S.” said Charif Souki, Chairman and CEO. “We look forward to finalizing all necessary steps in order to begin construction of the first phase of our project early this year and more importantly, to becoming the first LNG exporter in the Continental U.S.”
- USA: Cheniere Inks Sabine Pass LNG Supply Deal with GAIL India
- USA: Cheniere, BG Ink LNG Sale and Purchase Deal
- USA: Cheniere, Gas Natural Fenosa Ink LNG Deal
- Cheniere Signs MOU with Gas Natural SDG for Bi-Directional Processing Capacity at the Sabine Pass LNG Terminal (USA)
- Societe Generale Says Cheniere Can Make Sabine Pass Export Decision After Fenosa Deal (USA)
- USA: Societe Generale Says Cheniere Can Make Sabine Pass Export Decision After Fenosa Deal (mb50.wordpress.com)
- USA: Cheniere, BG Ink LNG Sale and Purchase Deal (mb50.wordpress.com)
- Gas Natural Fenosa Deals with Cheniere Energy to Buy US Shale Gas Sourced LNG (mb50.wordpress.com)
- USA: Total Close to Sign Sabine Pass LNG Deal (mb50.wordpress.com)
- USA: Cheniere Enters into Contract with Bechtel (mb50.wordpress.com)
- Soc Gen Says China May Look for US LNG Deals in Future (mb50.wordpress.com)
- Chesapeake CEO Opposes US LNG Exports (mb50.wordpress.com)
“Today’s ruling is a blow to ratepayers, businesses, and municipalities who are being asked to bear billions of dollars in new electricity costs when other green energy alternatives are available at a fraction of the cost.
The good news is the increasingly clear reality that Cape Wind will never be built. Cape Wind has been denied FAA approval, has been denied critical Federal loan guarantees, has no utility willing to buy half its power, and cannot find investors. Those facts alone render this decision moot.”
- SJC confirms Cape Wind-National Grid power deal (seattletimes.nwsource.com)
- After favorable court ruling, company chief says Cape Wind construction could begin within a year (boston.com)
- SJC Confirms Cape Wind-National Grid Power Deal (boston.cbslocal.com)
- SJC upholds DPU ruling approving sale of Cape Wind power to National Grid (boston.com)
- Cape Wind Power-Purchase Deal Upheld (earthtechling.com)
- Growing Cape Wind Opposition Brings Windfall Funds to Environmental Group (indiancountrytodaymedianetwork.com)
- USA: Fight for Nantucket Sound Continues (mb50.wordpress.com)