Page 11 - GLNG Week 31

GLNG
NEWS IN BRIEF
GLNG
AMERICAS
BESIX Canada to build an
LNG terminal in British
Columbia
BESIX Canada, together with its joint venture partner Vancouver Pile Driving (Vanpile), will build an LNG export facility in Kitimat, in
the North Coast region of British Columbia, Canada. Via the Douglas Channel, one the principal ords of British Columbia, the port is part of the Northwest Corridor, connecting North America to the Paci c Rim.
e LNG Berth Marine Structure contract was awarded to BESIX Canada and Van Pile by the JGC-Fluor BC LNG Joint Venture (JFJV). Once completed, the LNG Terminal will be maintained by JFJV and operated by LNG Canada, a joint venture between Shell, PETRONAS, PetroChina, Mitsubishi and KOGAS.
Works include the construction of a 500-meter-long quay wall, an LNG platform and all associated mooring and berthing structures. e works also involve the construction of scour protection, roadways, foundations for buildings, electrical works as well as the installation of marine equipment such as automated navigation aids.
Construction will start in 2019 with the removal of the existing facilities, shoreline protection and current infrastructure. e works will be completed in 2021.
BESIX CANADA, August 08, 2019
Chart Industries and Stabilis Energy invest in small-scale LNG North American growth
Chart Industries announced a strategic investment in Stabilis Energy of up to
$7mn for up to 9% of common equity. e transaction is scheduled to close within
the next thirty days subject to both parties meeting certain closing conditions. e actual investment and ownership will be determined by an agreed upon formula at closing.
Small-scale LNG is a key aspect of the global LNG infrastructure buildout, as these smaller liquefaction plants serve speci c uses such as marine bunkering, fuel for over the road transport, gas-LDC peak storage and power generation. Stabilis and Chart together built a 100,000 LNG gallon per day lique er in Texas, with the intended purpose to service multiple end markets, including energy, industrial, mining, and Mexican exports. Chart supplied the liquefaction train, storage, gas pre-treatment, and truck loading facilities, which contributed to the record production levels of the plant.
“We are pleased to announce this strategic investment in Stabilis Energy,” said Jill Evanko, Chief Executive O cer of Chart. “We look forward to providing equipment and process to Stabilis and other customers as they
expand in the small-scale and utility-scale LNG market. We expect over $650mn of opportunity in this market for our products in the next three years.”
“Stabilis welcomes Chart Industries as a shareholder,” commented James Reddinger, President and Chief Executive O cer of Stabilis. “As a global market leader in LNG production equipment and process systems, we appreciate Chart’s con dence in us. is transaction better positions Stabilis to pursue our North American small-scale LNG growth strategy, which is currently focused on plant development opportunities in the United States and Mexico.”
Reddinger continued, “Chart’s investment will increase our publicly traded oat and total shares outstanding, thereby helping Stabilis meet its NASDAQ listing requirements. Furthermore, the investment will reduce
our nancial leverage and give us a stronger balance sheet to support our growth plans.” CHART INDUSTRIES, August 05, 2019
Cheniere reports second- quarter 2019 results and reconfirms full year 2019 guidance
Cheniere Energy reported a net loss1 of $114mn, or $0.44 per share (basic and diluted), for the three months ended June 30, 2019, compared to a net loss of $18mn, or $0.07 per share (basic and diluted), for the comparable 2018 period. Cheniere reported
a net income of $27mn, or $0.11 per share (basic and diluted) for the six months ended June 30, 2019, compared to net income of $339mn, or $1.42 per share – basic and $1.40 per share – diluted, for the comparable 2018 period. Net loss increased during the three months ended June 30, 2019 as compared to the three months ended June 30, 2018 and
net income decreased during the six months ended June 30, 2019 as compared to the six months ended June 30, 2018 primarily due to increased total operating costs and expenses as a result of additional Trains in operation between each of the periods and certain maintenance and related activities at the SPL Project, increased interest expense, increased net derivative loss, and decreased margins
per mmBtu of LNG recognized in income primarily due to decreased pricing on LNG sold by our marketing a liate, partially o set by increased volumes of LNG recognised in income and decreased net income attributable to non-controlling interest.
Consolidated Adjusted EBITDA for
the three months ended June 30, 2019 was $615mn, compared to $531mn for the comparable 2018 period. e increase in Consolidated Adjusted EBITDA was primarily
Week 31 08•August•2019
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