Page 11 - GLNG Week 24

GLNG
NEWS IN BRIEF
GLNG
14 million tpy Cameron LNG project, which recently shipped its rst commissioning cargo. And the company has received permits for a liquefaction facility at Energia Costa Azul in Baja California, Mexico.
Development of Port Arthur LNG is still contingent on the project obtaining additional customer commitments, completing the required commercial agreements, securing all necessary permits and obtaining nancing. Start-up is anticipated in 2023.
Brent Wahl joins
NextDecade as SVP of
finance
NextDecade announced today that it has appointed Brent Wahl as Senior Vice President, Finance.
In this role, Mr. Wahl will be responsible for leading the nancing needs of NextDecade’s Rio Grande LNG project as part of the company’s e orts to provide the largest LNG export solution linking Permian Basin associated gas to the global LNG market.
Mr. Wahl will be particularly focused on project-level debt and equity nancing for
the construction of NextDecade’s Rio Grande LNG project in the Port of Brownsville, Texas.
“Brent is widely known as one of the LNG industry’s preeminent nancial advisors, and we are thrilled to have him join our leadership team,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive O cer. “Brent brings considerable expertise to carry out our Rio Grande LNG nancing plans and work with our joint project-level nancial advisors, Société Générale and Macquarie Capital.”
Prior to joining NextDecade, Mr. Wahl was a Senior Managing Director and Head
of Midstream Investment Banking for North America at Macquarie. During his nine years at Macquarie, Mr. Wahl handled advisory assignments and capital raises for companies across the energy value chain, including more than $15 billion of debt and equity in support of the construction of LNG facilities in North
America. “I am pleased to join NextDecade
as the company approaches a nal investment decision on its ideally positioned Rio Grande LNG project later this year,” said Mr. Wahl. “NextDecade is deploying a solutions-oriented approach to provide Permian Basin producers natural gas ow assurance and access to the global LNG market, and I am delighted to help execute this industry-leading strategy.” NEXTDECADE, June 17, 2019
ASIA
Japan’s LNG imports drop again in May
Japan’s imports of LNG fell again in May according to provisional data released by the country’s Ministry of Finance. is comes a er they rose brie y in April. According to the ministry’s data, Japanese imports dropped to 5.56 million tonnes, down 13.1% on the 6.4 million tonnes reported in May 2018.
e value of LNG imports in May was also down, falling roughly 13.7% year on year to US$2.78 billion.
e data show a considerable drop in LNG imports from the Middle East, down 44.8% year on year to 793,000 tonnes, and from the US, with the latter falling by 37.5% to 131,000 tonnes. Imports from Asian sources dropped 3.2% year on year to 1.37 million tonnes.
But LNG imports from Russia rose 12.2% on May 2018, to 534,000 tonnes.
Tokyo Gas strikes LNG supply deal with Sumitomo
Tokyo Gas said on June 20 that it has signed a heads of agreement (HoA) to sell 170,000 tonnes per year (tpy) of LNG to Sumitomo Joint Electric Power, a unit of Sumitomo Chemical. e deal will cover a period of ve years starting in the 2021 business year.
e agreement marks Tokyo Gas’ third
LNG wholesale deal on an “ex-ship” basis, where the seller arranges for LNG shipping and transports the gas to the buyer’s receiving terminal, a Tokyo Gas spokeswoman said.
e supplies will come from multiple LNG projects with which Tokyo Gas has signed contracts, the company said in a statement.
Tokyo Gas and GS Energy to receive world’s first carbon neutral LNG cargoes from Shell
GS Energy and Tokyo Gas have signed an agreement with Shell Eastern Trading for delivery of one cargo each of carbon neutral lique ed natural gas (LNG). Nature based carbon credits will be used to compensate
the full carbon dioxide (CO2) emissions generated – from exploring for and producing the natural gas, to use by the nal consumer. e cargoes which will be delivered by July 2019, will provide enough carbon neutral energy to power nearly 300,000 homes for a full year.
Commenting on the agreement, Kentaro Kimoto, Tokyo Gas’s Managing Executive O cer said “In addition to the widespread expansion of natural gas with its character of having the least CO2 emission among fossil fuels, we will continue our e ort to realize the low carbon society as well as providing a new value to our customers by introducing carbon neutral LNG as a new e ort. We are very pleased to work on this new initiative together with Shell who are focused in their e orts to deliver more and cleaner energy.”
GS Energy stated that “We are pleased to participate in initiatives that will reduce CO2 emissions together with Shell. GS Energy will make every e ort to shape a more sustainable environment and assist the transition towards a lower-carbon future.”
“Carbon neutral LNG cargoes are another choice we are o ering our customers, as they seek to address their CO2 emissions today.
In turn, they are then able to o er the same
to their customers who increasingly want to reduce the net carbon footprint of their energy use,” said Slavko Preo?anin, vice president Shell LNG Marketing & Trading. “ is deal will set the ground for us to further develop this o ering and we are pleased to be able to make this pioneering rst step possible for our valued partners Tokyo Gas and GS Energy.”
SHELL, June 18, 2019
Week 24 20•June•2019
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