Page 15 - GLNG Week 14 2022

GLNG NEWS IN BRIEF GLNG

AMERICAS reported citing unnamed sources. pursuing an energy policy which targets
Indian oil refineries are already buying nuclear power phase-out and reduction of
Excelerate Energy heavily discounted Urals blend oil, as greenhouse gas emission. Under this energy
policy, the government is planning to increase
sanctions for the military invasion of Ukraine
announces launch of initial have had Western buyers shunning Russian the share of natural gas in power generation to
50% by 2025 and CPC is expanding its LNG
crude. India is also looking to increase its
public offering imports of coking coal from Russia. regasification and storage capacity in tandem
Reportedly, Chinese oil refiners have
with the plan.
Excelerate Energy today announced that it has already purchased cheap Russian crude, with The Phase-4 expansion project includes
launched the roadshow for its initial public several LNG shipments already purchased building 4 LNG storage tanks (each with
offering (IPO) of 16,000,000 shares of its Class by Chinese importers in the last few weeks, 180,000 kl storage capacity), regasification
A common stock. The initial public offering according to unnamed traders, even as there is facilities and a jetty for LNG tankers. After
price is expected to be between $21.00 and no immediate need for LNG imports. the completion of this project scheduled in
$24.00 per share. The company also intends According to Bloomberg sources, instead 2029, LNG handling capacity of Taichung
to grant the underwriters a 30-day option to of participating directly in a Russian LNG LNG receiving terminal will increase to 13mn
purchase up to an additional 2,400,000 shares sales tender, Chinese companies are looking tonnes per annum.
of Class A common stock at the initial public to use so-called “sleeves,” or firms to buy on OG has accumulated skills and know-how
offering price, less underwriting discounts their behalf, to mask their procurement. for efficient and safe LNG receiving terminal
and commissions. Excelerate intends to list Reportedly smaller Chinese LNG buyers operation and maintenance through the
its common stock on the New York Stock are struggling to get credit guarantees from experiences at its world-class terminals since
Exchange (NYSE), under the ticker symbol banks to purchase additional spot cargoes the arrival of its first LNG cargo in 1972.
“EE.” from Russia, with the top Chinese importers DGPS’s first business experience with
Barclays, J.P. Morgan, and Morgan Stanley benefiting from the pre-approved credit lines. CPC dates back to 1990 when Osaka Gas
are serving as joint lead book-running Engineering (OGE, a predecessor company
managers for the offering. Wells Fargo of DGPS), provided technical support for
Securities is also acting as a book-running Daigas Gas and Power the commissioning of CPC’s Yung-An LNG
manager. Raymond James, Stephens Inc., receiving terminal. Since then, OGE/DGPS
Tudor, Pickering, Holt & Co., SMBC Nikko Solution was awarded FEED has established close business relationship
and BOK Financial Securities are acting as co- with CPC through continuous involvement
managers for the proposed offering. and technical consulting in CPC’s LNG receiving terminals including
The proposed offering will be made the ongoing technical consulting service
available only by means of a prospectus. service contract for for the construction of CPC’s third LNG
EXCELERATE ENERGY, April 04, 2022 receiving terminal in Guantang, Taoyuan City.
LNG receiving terminal DGPS believes that Daigas Group’s technical
capabilities for designing, construction and
expansion project in Taiwan own relentless efforts and contributions in
ASIA operation of LNG receiving terminal and its
China said to eye cheap Daigas Gas and Power Solution (DGPS), the preceding projects were highly evaluated
by CPC when awarding DGPS the FEED
100% subsidiary of Osaka Gas (OG), has been
Russian LNG awarded front end engineering and design and technical consulting service contract
for the Phase-4 expansion project. DGPS is
(FEED) and technical consulting service for
China’s largest importers of LNG state- the Phase-4 expansion project of Taichung committed to keep providing a high level of
owned Sinopec and PetroChina are LNG receiving terminal owned and operated technical services to CPC for the successful
studying the options of buying Russian by CPC, Taiwan. completion of the Phase-4 expansion project
LNG at about a 10% discount, Bloomberg The Taiwanese government has been of Taichung LNG receiving terminal.
Daigas Group including DGPS is going
to expand its overseas energy business from
upstream to downstream by fully utilising
its experiences in and out of Japan and its
existing overseas business platforms.
DAIGAS GAS AND POWER SOLUTION, April 05,
2022

EUROPE
Estonia and Finland to adopt

LNG terminal for joint use

Estonian Minister of Economic Affairs and
Infrastructure Taavi Aas and Finnish Minister

Week 14 08•April•2022 www. NEWSBASE .com P15