Page 19 - GLNGl Week 24

GLNG NEWS IN BRIEF GLNG

AMERICAS Work over the coming weeks will focus Offered Rate (LIBOR) plus a margin based
on environmental monitoring and field upon the applicable credit rating of the
Coastal GasLink names work, grading, grubbing and workforce Cheniere term loan. The closing of the
Cheniere term loan is expected to occur in
accommodation establishment to position
Aecon as its prime the project for pipe assembly and installation June 2020.
later this summer. Pipe deliveries will also
CHENIERE ENERGY, June 16, 2020
contractor for project continue with pipe stringing and assembly
commencing as early as July in multiple areas
facilities as construction across the project, although the project’s first ASIA
in-field pipeline weld took place in Kitimat
ramps up earlier this month. Receiving the first
With this work, comes additional
Coastal GasLink has selected Aecon Group workforce requirements as the summer commingling LNG Cargo at
Inc. as prime contractor for construction of construction season ramps up, ultimately
the compressor and metering stations that growing to over 2,500 by September. Hatsukaichi LNG terminal
will become the anchor points of the natural COASTAL GASLINK, June 16, 2020
gas pipeline. This announcement comes as The first commingling LNG cargo of
the project is poised to launch the summer Cheniere Energy announces Hiroshima Gas (President: Kensuke
construction program and see first pipe put in Matsufuji) and Tokyo Gas (President: Takashi
the ground in July. commitments for term Uchida) transported by Tokyo LNG Tanker
“We are pleased to welcome Aecon to (President: Atsunori Takeuchi) has arrived at
our high-quality team of prime contractors loan facility to refinance Hatsukaichi LNG terminal of Hiroshima Gas
that’s been assembled to safely and effectively today.
deliver this world class project,” said David convertible notes This is the first commingling LNG cargo
Pfeiffer, Coastal GasLink’s President. based on the LNG Transportation Agreement
Facilities are key pieces of infrastructure Cheniere Energy announced today that it between Hiroshima Gas, Tokyo Gas and
and important components of a natural gas has obtained commitments from 17 financial Tokyo LNG Tanker that was executed in
pipeline, as they ensure that natural gas moves institutions for an approximately $2.5bn February 2020 in which LNG procured by
through the pipeline safely and efficiently. The three-year delayed draw senior secured Hiroshima Gas and Tokyo Gas from Sakhalin,
initial phase of the Coastal GasLink Project term loan at Cheniere Energy, with the Russia would be jointly transported by an
includes the Wilde Lake Compressor Station ability to add further commitments from LNG carrier owned and operated by Tokyo
and the Kitimat Meter Station. additional financial institutions. Proceeds LNG Tanker for a period of eight years from
“Aecon brings a wealth of experience from borrowings under the Cheniere term FY2020 to FY2027. The agreement was made
constructing pipeline facilities, and similar loan, along with cash on the balance sheet, possible with the cooperation of Sakhalin
to our pipeline contractors, they share our are expected to be used to (i) repay the Energy Investment Company Ltd., a long term
commitment to creating an extraordinary existing 11.0% convertible senior secured supplier of Hiroshima Gas and Tokyo Gas.
legacy of safety and respect for all people, notes due 2025 issued by Cheniere CCH Hiroshima Gas and Tokyo Gas will
communities and the environment,” added HoldCo II, (ii) repay and/or repurchase the continue to provide a stable supply of city gas
Pfeiffer. 4.875% convertible PIK Notes due 2021 issued and aim to further the usage of natural gas
Construction of the Wilde Lake facility will by Cheniere and (iii) pay related fees and thorough the realization of a stable supply
kick off in July 2020, as part of our summer expenses. The Cheniere term loan will rank of energy that will be beneficial for the
construction program, which will see a pari passu with the existing $1.25bn Cheniere customers of both companies.
gradual ramp up of work across the route revolving credit facility. TOKYO GAS, June 15, 2020
over the coming months, in advance of peak Borrowings under the Cheniere term loan
activity in September. will bear interest at a rate of London Interbank
EUROPE

German LNG Terminal

and RWE to explore
hydrogen opportunities via

Brunsbüttel

To develop green hydrogen possibilities via
the planned LNG terminal in Brunsbüttel:
RWE and German LNG Terminal, the joint
venture developing Germany’s first LNG
terminal, have agreed to jointly explore
the opportunities of this climate friendly
fuel. Both companies have therefore signed

Week 24 19•June•2020 www. NEWSBASE .com P19