Page 12 - GLNG Week 31

GLNG
NEWS IN BRIEF
GLNG
due to increased income from operations. Consolidated Adjusted EBITDA for the
six months ended June 30, 2019 was $1.27bn, compared to $1.44bn for the comparable 2018 period. e decrease in Consolidated Adjusted EBITDA was primarily due to decreased income from operations and decreased adjustments for certain non-cash items including net gain from changes in fair value of commodity and foreign exchange derivatives.
During the three months ended June
30, 2019, 104 LNG cargoes were exported from our liquefaction projects, one of which was a commissioning cargo. During the
six months ended June 30, 2019, 191 LNG cargoes were exported from our liquefaction projects, of which eight were commissioning cargoes. Twelve cargoes exported from our liquefaction projects and sold on a delivered basis were in transit as of June 30, 2019, one of which was a commissioning cargo.
CHENIERE ENERGY, August 08, 2019
ASIA
Gail (India) reportedly
offers US LNG cargoes for
October-December
Gail (India) has o ered three cargoes of LNG for loading from the Cove Point terminal on the US East Coast, two industry sources told Reuters on August 8.
According to the sources, the cargoes are o ered for loading over October, November and December. One source said the tender closes on August 8.
Gail has agreements in place over a 20-year period to buy 5.8 million tonnes per year (tpy) of US LNG in total, from Dominion Energy’s
Cove Point terminal and Cheniere Energy’s Sabine Pass plant.
MOL and COSCO Shipping Energy Transportation signs a memorandum of understanding facilitating further co-operation for upcoming LNG and ethane projects
On 6 August 2019, Mitsui OSK Lines (MOL) and COSCO Shipping Energy Transportation (CSET), which is a subsidiary of China COSCO Shipping, signed a memorandum of understanding (MoU).
e MoU recognises and further develops the joint co-operation between the two organisations, for future LNG carrier projects and ethane carrier projects.
to the development of LNG and Ethane transportation industry.
MITSUI OSK LINES, August 07, 2019
Pakistan seeking LNG cargoes in fourth quarter
Pakistan has issued a tender for the supply of 10 LNG cargoes in the fourth quarter of this year, from the start of October until the end of December. e tender was reported by Reuters, which cited documents from Pakistan LNG, this week.
According to the documents, state-owned Pakistan LNG is seeking four cargoes for October, two for November and four for December, with bids due by September 5.
e last time Pakistan LNG issued a short- term LNG supply tender was in May, when
it sought ve cargoes between the end of July and September. O ers came in at 7.13-8.54% of the Brent crude price, or around $4.4-5.3 per million British thermal units at that day’s price.
e company also issued a long-term tender in June, covering 240 cargoes over a 10-year period. is was one of its largest ever tenders, and closed in July. Pakistan LNG has not yet announced the lowest bidders. But sources told Reuters that Italy’s Eni, China’s PetroChina, the trading arm of Azerbaijan’s SOCAR and commodities trader Tra gura bid in this mega-tender.
e latest short-term tender is likely to be welcomed by the spot market, as a glut of supply has been weighing on prices, pushing them below $4 per mmBtu last week for the rst time in years.
AUSTRALASIA
Safe start up and operation
of the carbon dioxide
injection system at the
Gorgon natural gas facility
Chevron Australia and the Gorgon Joint Venture participants today announced the safe startup and operation of the carbon dioxide injection system at the Chevron-led Gorgon natural gas facility on Barrow Island, o the northwest coast of Western Australia.
Chevron Australia managing director Al Williams said, “We are pleased to reach the rst milestone of safely starting the operation of the Gorgon carbon dioxide injection
Over more than 10 years, MOL and CSET have established a strong and extensive partnership, which MOL and CSET jointly participate in various ongoing projects, namely the ExxonMobil DES project, Australia Paci c LNG project and Yamal LNG project.
At the same time, MOL and CSET are aiming to develop and deepen the partnership through the joint participation for the new opportunities of upcoming LNG and ethane carrier projects.
Based on the solidi ed relationship through this MoU and accumulated history of co-operation over the decade, MOL
and CSET, as mutual strategic partner to each other, continue to lead and contribute
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Week 31 08•August•2019