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Japan: Osaka Gas Eyes U.S. LNG

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Japan’s Osaka Gas is in negotiations to buy liquefied natural gas from Dominion Resources, Sempra Energy and Freeport LNG in the United States, Bloomberg reported, citing Tetsushi Ikuta, general manager of Osaka Gas energy resources and international business development.

He said that Osaka Gas may invest in planned LNG terminals in Maryland, Louisiana and Texas.

Osaka Gas said recently that it plans to purchase 7.19 million mt of LNG during fiscal 2012.

The company also plans to invest 290 billion yen (3.49 billion U.S. dollars) in LNG storage facilities and laying pipelines in five years from fiscal 2012-2016.

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UK: Wellbore Clean Up Specialist Eyes Turnover Increase

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Aberdeen-based oilfield services firm Coretrax Technology Limited has secured over £1.2million of contracts since the start of the year and expanded its team to 12 people.

Coretrax specialises in innovative oilfield services to the completion, cementing, abandonment and wellbore clean up sectors both in the North Sea and globally. The contract wins are for projects in the North Sea utilising Coretrax’s innovative wellbore clean up tools and chemicals.

The team in Aberdeen has also expanded with the appointment of a new business development manager and offshore supervisor both bringing many years of oil industry experience to the company. Coretrax plans to recruit a further 6-8 new staff in 2012 including a second graduate in design engineering.

Kenny Murray, director and founder of Coretrax, said: “We have had a really promising start to the year and I’m delighted with the new members who have joined the Coretrax team. Our focus this year is continual R&D to expand our range of products and services to provide solutions to operators with our team of engineers globally.

“Our innovative approach to wellbore clean up has also led to successful projects globally and we are completing successful contracts in Africa, Middle East and Asia. We will continue to expand both internationally and in the North Sea with on-going recruitment and new premises this year.”

Formed in 2008, Coretrax is a finalist in the ‘new idea’ category of SPE’s Offshore Achievement Awards taking place in Aberdeen this month. The company forecasts a turnover of £3million this year.

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Japan Eyes LNG from 3 U.S. Terminals

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Japan is in talks to buy a part of the combined 30 million mt a year of LNG from Cameron in Louisiana, Cove Point in Maryland and Freeport terminal in Texas, Bloomberg reported, citing Hisayoshi Ando, director general of natural resources and fuel at the country’s trade ministry.

Japan is facing an unprecedented crisis,” he said.

We are asking the U.S. to consider our circumstances and allow Japan to import from terminals from the U.S. mainland,” he added.

Japan’s LNG imports reached 8.15 million mt in January, a rise of 28.2 percent compared to a year earlier.

The country’s monthly LNG imports have been rising steadily year on year, due to the devastating earthquake and tsunami in March 2011.

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ExxonMobil Eyes North American LNG Exports

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ExxonMobil Corp is actively assessing options to export liquefied natural gas from North America, where it is a top producer of the fuel.

“In terms of exports from North America, whether it is the Gulf Coast or whether it is Western Canada, it’s something we’re actively looking at,” Andrew Swiger, senior vice president of Exxon said at a Bank of America Merrill Lynch investors conference.

North America market is different from places where Exxon has LNG projects because the gas is not stranded without a viable market, so the company is mulling options, Swiger said in remarks broadcast on the Internet.

Exxon has 340,000 shale gas acres in Western Canada’s Horn River Basin. The company also has a stake in the Golden Pass LNG Terminal in Texas.

(reuters)

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Lithuania: Cheniere Eyes LNG Exports by 2015

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U.S.-based Cheniere Energy plans to export liquefied natural gas (LNG) by 2015 and hopes to take a stake in a floating LNG terminal in Lithuania.

The Baltic state, which joined the European Union and NATO in 2004, depends 100 percent on Russian gas supplies, and in a move to diversify it plans a floating terminal to handle 1.5-2.0 billion cubic metres of LNG per year.

We expect to start (LNG export) operations by late 2015 … and we have a high degree of confidence that we can meet these timelines, and look forward to continuing negotiations with Klaipedos Nafta to supply Lithuania with LNG,Helena Wisden, senior trading manager at Cheniere Energy said at a conference in Vilnius, Lithuania, on Thursday.

Lithuanian government-owned oil and gas company Klaipedos Nafta says it aims to lease a floating storage and regasification unit (FSRU) of at least 130,000 cubic metres of LNG under long-term contract or acquire it under a build-operate-transfer transaction.

Energy minister Arvydas Sekmokas said during the same conference that the government hoped to connect the LNG terminal to the grid in 2014.

Houston-based Cheniere Energy is planning to export U.S. LNG from its Sabine Pass terminal in Louisiana by 2015, and in October signed an $8 billion deal with Britain’s BG Group , a leading LNG trader, under which Cheniere Energy will supply BG Group with gas to ship across the globe.

Sabine Pass will have an initial capacity to export 9 million tonnes per year, and plans to sell the LNG for 115 percent of U.S. benchmark Henry Hub prices, plus a premium ($2.25 for BG Group).

Wisden said at current prices an average-sized LNG cargo was  worth $35 million.

Cheniere Energy said in May that it was considering taking a minority stake in Lithuania’s LNG terminal, which is being developed by Klaipedos Nafta.

U.S. TO BECOME NET GAS EXPORTER

Cheniere’s Wisden said that she expected the United States to become a net gas exporter by the middle of the decade, and that exports were the only way to sell the large amounts of gas produced in the country.

“Gas demand in the U.S. cannot keep up with production, and we see LNG exports as the only way to take all that gas,” Wisden said.

Wisden said that around 15 percent of global LNG supply was now traded on spot markets (or 200 million tonnes a year).

(reuters)

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