Gunvor supplied the lowest bid, expressed as a percentage of a barrel of crude oil, in the five-year tender of 11.6247%, the official said, according to Reuters.
As prices drop in Asia, LNG exporters are once again attracted to European markets.
Low LNG deliveries to the Fos-sur-Mer terminal in the country's south had led to tight supply, prompting heavy reliance on stored reserves to meet winter demand, Reuters reported.
Australia’s LNG exports surged by 37.7% to 36.8 mtpa in 2016 as the plethora of new projects in Western Australia, the Northern Territory and coastal Queensland triggered a flood of new shipments to global markets.
Former ExxonMobil CEO provided hints to the direction U.S. foreign policy will take during his Senate confirmation hearing.
Law firm partners see Trump’s protectionist sound bites as potential threat.
Since February, 61 vessels have taken cargoes from Sabine, but just three vessels delivered LNG to East Asia between February and the end of November, Reuters reported.
India is the world's third-largest emitter of greenhouse gases and relies heavily on coal, gas and oil imports to meet its energy needs, but is seeking to shift to cleaner energy such as LNG, Reuters reported.
The agreement has a 20-year term. LNG will begin being supplied in 2017, sourced from BP’s LNG portfolio including the Freeport LNG project in Texas.
An expanded Panama Canal opens up opportunities for U.S. exporters, especially in LNG and ethane markets.
The Ministry of Economy, Trade and Industry now surveys hundreds of companies that generate power and/or sell it, after the breakup of 10 former power monopolies, Reuters reported.
The new LNG vessel will transport LNG from the Cameron LNG project in Louisiana for Toho Gas and Tohoku Electric Power.