Page 11 - GLNG Week 16

GLNG
NEWS IN BRIEF
GLNG
AMERICAS
Mexico Pacific engages
MUFG bank to lead project
financing
Mexico Pacific Limited LLC (MPL), a North American LNG export project based on the West Coast of Mexico, announced today
that it has engaged Mitsubishi UFJ Financial Group (MUFG) as financial advisor, marking another step toward final investment decision (FID) of the project.
Headquartered in Japan, MUFG is one of the world’s largest publicly traded financial institutions and is the fifth largest bank by assets, with approximately $2.9 trillion as of December 31, 2019. In the Project Finance International Loan League Tables for 2019, MUFG ranked as Top Global Initial Mandated Lead Arranger (MLA) for the eighth consecutive year—and #1 for project finance loans in the Americas.
MPL is a leading West Coast LNG
export project in North America, offering customers in Asia a lower landed cost of LNG, geographic diversity and a de-risked shipping route. The combination of the shorter shipping distance to Asia from its West Coast location and its access to low-cost US natural gas allows the project to deliver some of the
lowest landed cost LNG into Asia.
“MPL is pleased to be working with MUFG
and we believe they are well positioned
to assist MPL due to their longstanding market-leading position in project finance, recent and relevant experience structuring and leading project financing transactions
in the Americas, extensive knowledge of project financing in Mexico, and unparalleled expertise in the global LNG market,”
said MPL’s president and CEO, Douglas Shanda. “With its breadth of knowledge
and experience and strong relationships
with leading lenders and investors globally, MUFG’s appointment represents another important milestone in MPL’s aggressive advancement to FID.”
MEXICO PACIFIC LIMITED, April 16, 2020
FERCapprovessixthtrainat
Kinder Morgan’s Elba Island
LNG
The US Federal Energy Regulatory Commission (FERC) approved a request from Kinder Morgan to place the sixth train at its Elba Island LNG project in Georgia into service on April 20.
After some delays during the commissioning process, the first train at Elba Island was approved to enter service in
October 2019, with trains 2-5 following over the coming months.
The Elba Island project will eventually consist of 10 small-scale trains, with a combined capacity of around 2.5mn tonnes per year (tpy). The facility uses movable Royal Dutch Shell’s modular liquefaction system (MMLS) trains connected to Kinder Morgan’s existing regasification terminal, which has been modified to export LNG.
Shell is the offtaker for 100% of Elba Island’s output.
ASIA
Daewoo E&C to participate inTangguhLNGexpansion
Daewoo Engineering & Construction (E&C) has signed a contract to participate in the second expansion phase of the Tangguh LNG plant in Indonesia.
The contract involves piping work worth $50mn. The expansion phase entails the construction of a third liquefaction train at Tangguh LNG, which is located in Bintuni Bay, Papua Barat. The train will have a capacity of 3.8mn tonnes per year (tpy).
The CSTS JO consortium, consisting of Chiyoda, Saipem, Tripatra and SAE, is the engineering, procurement and construction (EPC) contractor on the project.
Daewoo E&C’s contract marks the company’s entry into the Indonesian LNG industry and follows a request to participate from main contractor Saipem.
Daewoo E&C has also collaborated with Saipem on other LNG projects elsewhere in the world.
Thailand’s EGAT to receive
second LNG spot cargo from
Petronas
The state-run Electricity Generating Authority of Thailand (EGAT) said that it would buy a second LNG cargo on the spot market this week.
The Thai utility said the cargo, comprising 65,000 tonnes of LNG, would be delivered to the Map Ta Phut LNG receiving terminal in the eastern part of the country from Malaysia’s Petronas.
The shipment is the second, after EGAT bought a cargo on the spot market in December 2019. The two shipments are being
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