Re-exports from European LNG import terminals could intensify given the wide spread between domestic gas hub prices, currently trading around $6.10 per million British thermal units, and Asian markets, Reuters said.
The mid-scale LNG facility will use about 115 acres of available land in Lake Charles, La., on a long-term lease through the Lake Charles Harbor and Terminal District.
Trafigura is blazing a trail for trade houses, adopting highly successful tactics used in oil markets, to get an edge in the burgeoning LNG sector, Reuters said.
Report describes how expanding supply will overwhelm growth in demand.
The Houston-based LNG company appointed Jonathan Christodoro and Samuel Merksamer to its board, Reuters said. Activist investor Carl Icahn recently reported an 8.2% stake in the company.
Gladstone LNG, led by Australia's Santos, expects to begin loading tankers in late September, which traders say will be sold to market participants until long-term delivery obligations begin, Reuters said.
Malaysia is the second-largest exporter of LNG, according to U.S Energy Information Administration. LNG revenues comprised 2.7% percent of Malaysia’s GDP, according to World Bank data, Reuters said.
The environmental tick of approval covers the installation, operations and decommissioning phases for the development of the Torosa, Brecknock and Calliance fields using FLNG technology.
Final investment decisions from both Energy Transfer and BG Group are expected next year. LNG will be exported in mid-2020. Period for other federal agencies to complete reviews has begun.
Licenses were issued on Aug. 13 in response to Pieridae’s Oct. 24, 2014 application. Proposed Goldboro LNG facility will process the gas used in both the imports and the exports.
The company said in July it planned to buy at least one spot LNG cargo a month in 2015/16 to take advantage of lower short-term prices, Reuters said.
U.S. Energy Information Administration cites sharply lower usage for China, Japan, South Korea in first five months of 2015 compared to same period in 2014.