Page 13 - GLNG Week 43

GLNG
NEWS IN BRIEF
GLNG
NextDecade’s capital position as the company continues to develop its Rio Grande LNG project, the largest liquefied natural gas (LNG) export solution linking Permian Basin associated gas to the global LNG market.
“We are honoured to welcome Mubadala,
a leading global investor, as a shareholder in our company,” said Matt Schatzman, chairman and chief executive officer of NextDecade. “Mubadala brings a valuable perspective on large-scale infrastructure investment and the growing role of LNG in the Middle East and other markets around the world. We look forward to a strong and lasting partnership.”
Khalifa Al Romaithi, Mubadala’s executive director, midstream, said: “We are pleased
to make this investment in NextDecade. We strongly believe that the Rio Grande LNG project is optimally positioned to provide
a highly competitive export route for the abundant gas resources of the Permian Basin and a compelling commercial proposition for LNG customers, Permian producers
and NextDecade shareholders alike. Our investment also reflects Mubadala’s positive outlook on the global gas market and the growing role of gas in the energy transition.”
As part of its investment in NextDecade, Mubadala will receive one seat on NextDecade’s board of directors. Mubadala will also have the right to contribute a certain amount of project-level capital upon the final investment decision of NextDecade’s Rio Grande LNG project.
NEXTDECADE AND MUBADALA INVESTMENT, October 24, 2019
Delfin announces
advancements in newbuild
FLNGvesseldevelopmentin
partnership with Samsung
Heavy Industries and Black
& Veatch
Delfin Midstream initiated co-operation with Samsung Heavy Industries (SHI) and Black & Veatch in Q4 2018 and successfully completed a pre-FEED study for a newbuild FLNG vessel in the first half of 2019. In parallel
the parties have been developing a Term Sheet for a lump-sum, turnkey engineering, procurement, construction, installation and commissioning contract (LSTK EPCIC)
for the construction and completion of the newbuild FLNG vessel.
Today the company is pleased to announce it has entered into new agreements for front- end design and engineering work with SHI and Black & Veatch. Delfin and its partners are on-track for completion of the engineering work, including a fully termed LSTK EPCIC by the middle of 2020, for the Delfin LNG project.
Many land-based LNG export projects seek ‘economies-of-scale’ to lower their costs by developing 10-20+ mtpa projects. By re-purposing existing offshore pipelines and building the FLNG Vessels at efficient, low-cost Asian shipyards, Delfin can achieve
total capital costs around 500-550 $/tpa for just 3.5 MTPA FLNG Vessels. Furthermore, each FLNG Vessel can be developed independently with its own commercial and financial structure. This enables Delfin to offer standard HH+ or tolling models with terms
of 10 to 25 years, integrated structures or JV arrangements with offtakers, producers and/ or traders. Delfin’s existing offshore pipelines connect directly to the extensive network of onshore pipeline systems, with ample supply capacity for the first 2-3 FLNG Vessels.
With the lowest costs for FID thresholds
of just 2.0 to 2.5 MTPA of firm offtake and with full commercial flexibility, Delfin is a true differentiator among the US LNG export companies. With 4 FLNG vessel slots at the Delfin project for a total of 13 MTPA of LNG export and with up to 8 MTPA expansion potential with the Avocet project, Delfin offers large scale LNG production at the bottom-end of the cost curve.
DELFIN MIDSTREAM, October 29, 2019
ASIA
Zhonghua Gas Holdings
announcessignedMoUon
LNG Cooper
Zhonghua Gas Holdings together with its subsidiaries today announces that it has signed a memorandum of understanding (MoU) with Shanghai Jiulian Group, a wholly- owned subsidiary of Shenergy (Group) on co-operation in area of liquefied natural gas (LNG).
Zhonghua Gas and Shenergy Jiulian co- operate to form a 60: 40 joint venture (JV)
to co-explore end users market in Yangtze River Delta region for maximising the edges of LNG resources of Shenergy Jiulian while end users resources of Zhanghua Gas. The JV will be principally engaged in sale of LNG, sale of LPG, engineering of LNG pipeline, sale, installation, maintenance of LNG delivery equipment, technology development, consulting and transfer of heating system, technology development of new energy, etc.
Zhonghua Gas intends to integrate the
gas supply business of its existing customer resources in the Yangtze River Delta, such
as existing point-to-point supply of LNG, decentralised energy, direct supply of industrial LNG, vehicle and ship refueling etc., into the LNG sales channel and business of the JV, and constantly expand the business scope of the JV and improve the market share. It will also be responsible for obtaining the
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