Page 12 - GLNG Week 42

GLNG
NEWS IN BRIEF
GLNG
FWS issues favourable
biological opinion for
Annova LNG project
e US Fish & Wildlife Service issued its nal biological opinion for the Annova LNG project in Brownsville, Texas this week, saying, “It is the opinion of the Service that the proposed construction of the Annova LNG project will not likely jeopardise the continued existence of the ocelot or Gulf Coast jaguarundi.”
“Our mission is to be the most sustainable U.S. provider of lique ed natural gas, and this o cial opinion re ects our close consultation with the Service over the past several years
to protect and conserve habitat for these protected and other valued species in the Rio Grande Valley,” said Omar Khayum, CEO, Annova LNG.
Annova LNG has made several proactive voluntary conservation measures, including: Expanded its lease and modi ed its project layout to establish a 185-acre environmental conservation corridor, where existing dense thornscrub and other habitats, including over 100 acres of wetlands, would be preserved; contributed funding to the perpetual conservation of over 1,000 acres of land, including approximately 390 acres of dense thornscrub in the South Texas Ocelot Coastal Corridor area in Cameron County that are inhabited by ocelots, and has committed
to an additional 250 acres of thornscrub habitat preservation; committed to provide funding for adaptive research, conservation, and recovery e orts of the Feline Research Program of the Caesar Kleberg Wildlife Research Institute at Texas A&M University – Kingsville.
“We appreciate the Service’s dedication to habitat recovery and their guidance to Annova LNG during our project’s development,”
said Khayum. “Annova LNG’s habitat conservation measures are just one example of our dedication to responsible, sustainable development in the Rio Grande Valley.” ANNOVA LNG, October 22, 2019
DominionEnergyannounces
equity recapitalisation of
Cove Point
Dominion Energy today announced that it has entered into an agreement with Brook eld Super-Core Infrastructure Partners, an infrastructure fund managed by Brook eld Asset Management Inc. (Brook eld), in
which the company will transfer a 25% non- controlling equity interest in Cove Point to Brook eld in exchange for cash consideration of just over $2bn, excluding working capital. e announcement is part of Dominion Energy’s previously communicated intention to establish a permanent capital structure for Cove Point.
omas F. Farrell, II, chairman, president and chief executive o cer, said: “ e agreement highlights the compelling intrinsic value of Cove Point and allows us to e ciently redeploy capital toward our robust regulated growth capital programs. We are very excited to have a highly respected infrastructure investor such as Brook eld as our partner in this world-class facility.”
Dominion Energy Cove Point LNG
owns a lique ed natural gas (LNG) import, export and storage facility located on the western shore of the Chesapeake Bay in Lusby, Md., including a 136-mile pipeline that interconnects the facility with the interstate pipeline system. ese assets provide liquefaction, gasi cation, transportation, storage and peaking gas supply services to customers in the United States, India and Japan. In 2018, the company completed
a $4.1bn expansion to enable natural gas exports.
e transaction represents an implied enterprise value of $8.22 bn, excluding working capital, and is supportive of the company’s existing operating earnings per share and earnings growth guidance. Proceeds are expected to be used for general corporate purposes including signi cantly reducing the annual common equity nancing described at the company’s investor day in March 2019.
Upon transaction close, expected by
the end of 2019, Dominion Energy will retain full operational control of the facility and its services, and existing customers and employees will be una ected by this recapitalisation agreement.
DOMINION ENERGY, October 21, 2019
ASIA
JERAGM reportedly seeking upto0.5mntonnesof
LNG for first-quarter 2020 delivery
JERA Global Markets (JERAGM), a joint venture between Japanese power generator JERA and France’s EDF Trading, is reportedly seeking to buy 0.5mn tonnes of LNG on the spot market. Reuters cited four market sources as saying this week that the cargo is being sought for delivery in the rst quarter of 2020. According to the sources, the tender is due to close on October 24.
Chart Industries and Energy
Capital Vietnam (ECV)
to jointly promote LNG
distribution within Vietnam
Chart Industries and Energy Capital
Vietnam (ECV) signed a Memorandum of Understanding (MoU) on October 23, 2019 to promote the distribution of lique ed natural gas (LNG) within Vietnam, with Chart supplying the downstream equipment into ECV’s terminal projects.
Energy Capital Vietnam is a Vietnam- focused project development and asset management company that works closely with Vietnam’s O ce of the Prime Minister and the Ministry of Industry and Trade (“MOIT”), the key authoritative body that oversees the energy sector. With a population of nearly 100
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Week 42 24•October•2019