Page 13 - GLNG Week 23

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South Texas-Tuxpan pipeline completed
Gulf Marine Infrastructure, a joint venture between TC Energy and Nova Energy Infrasture, announced today the completion of the construction of its South Texas-Tuxpan gas pipeline, which will provide capacity to transport 2,600 million cubic feet of natural gas daily.
e project represents approximately US$2.5 billion in investment in infrastructure to provide the natural gas required by electric power generation plants, industrial clients and urban centres to increase economic development in the country, in line with the objectives of the Government of Mexico.
e Texas-Tuxpan South gas pipeline is expected to increase the country’s current natural gas import capacity by 40% and will provide cleaner and more e cient fuel for power generation and industry development.
“Mexico is bene ted by a geographic location that allows it to have access to some of the lowest natural gas prices in the world. e expansion of its gas pipeline network and the supply provided by South Texas-Tuxpan will contribute to increasing competitiveness. We are proud to build the energy infrastructure necessary for Mexico to make this happen, “said Robert Jones, president of TC Energía. “ e gas pipeline represents a key element for the country’s energy security, since, through its interconnections, it will be able to supply natural gas to regions in central and southern Mexico,” said Jones.
e 772-kilometer (480-mile), 42-inch- diameter pipeline runs o shore from the US border, near the city of Brownsville, Texas, to Altamira, near the city of Tampico in the state of Tamaulipas, from where
it continues its journey towards Tuxpan
in the state of Veracruz. on land, the gas pipeline will supply Mexico with natural
gas through its connections with the TC Energía de Tamazunchale and Tula pipelines, as well as with the Integrated Natural
Gas Transportation and Storage System (SISTRANGAS).
e South Texas-Tuxpan gas pipeline has been one of the most challenging projects
in the world, and was the largest source of foreign direct investment in Mexico in 2017. e project included the construction of
the largest compression station in the entire country in Altamira, Tamaulipas, and the creation of three thousand jobs during the construction phase.
tC EnERGiA, june 11, 2019
Gunvor signs HoA with Commonweatlh
Commonwealth Projects and Gunvor Group Ltd today announced their respective subsidiaries, Commonwealth LNG, LLC and Gunvor Singapore Pte Ltd, have signed a heads of agreement (HoA). e HoA anticipates the negotiation and nalization of a de nitive 15-year lique ed natural gas (LNG) sale-and-purchase agreement (SPA) for 1.5 million tonnes per annum (Mtpa)
of LNG o ake from the Commonwealth LNG export project under development in Cameron Parish, Louisiana.
Kalpesh Patel, Gunvor Co-Head of
LNG Trading said, “ e agreement with Commonwealth LNG is a signi cant step
in executing Gunvor’s overall strategy of uncovering and securing low cost resources and seamlessly delivering them to high value markets. We look forward to working with the Commonwealth team as they continue to progress their project.”
“We are proud to be entering into an agreement for a portion of our LNG o ake with the Gunvor Group – one of the world’s premier commodities trading houses,” said Paul Varello, Commonwealth’s President and CEo. “our mantra is to develop LNG solutions for the next generation; in Gunvor, we have found a commercial partner who not only shares that vision, but through its creativity and innovation exempli es it.”
Commonwealth LNG expects to take a nal investment decision on the project later next year.
CommonWEAltH lnG, june 12, 2019
Macquarie’s flexible option
Macquarie Group’s commodity markets and nance (CMF) division brought out a new LNG trade in May 2018, Risk.net reported, intended to help clients handle arbitrage risk, in particular the potential mismatched price between purchase and sale, through delivery exibility. is allows clients to deliver LNG to an alternative destination, with the parameters based on price di erences at the start of the trade.
e exibility manifests as a type of nancial spread option, with an upfront premium. e report said since the rst trade, there have been seven subsequent deals.
AsiA
Guangdong seeks cargoes
China’s Guangdong Energy is seeking two LNG cargoes, Reuters quoted two industry sources as saying on June 12. It is seeking delivery in late August to September, with a tender closing on June 13.
e company bought its rst LNG cargoes from Petronas this year, with deliveries to
a regas terminal in southern China in May and July. It also has the right to purchase ve cargoes on its own this year.
SHI receives double LNG carrier order
Samsung Heavy Industries (SHI) revealed on June 6, 2019 that it receives LNG carrier duo for about KRW 450bn. SHI’s new order total for 2019 now stands at 11 vessels and US$3 billion, which include 10 LNG carriers and 1 FPSo.
sHi, june 7, 2019
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