Osaka Gas Looks to Sell Spare LNG in Europe
Japan's Osaka Gas has offered two liquefied natural gas (LNG) cargoes from the newly-commissioned Freeport LNG project in the United States for delivery into Europe, industry sources said.Mild weather in Japan and a weaker Chinese economy have helped to drag the global LNG market to multi-year lows and forced Asian sellers to seek alternative markets.Osaka Gas has offered the cargoes for delivery into Europe between July 5 and 13 and Nov.
Japan Marks 50 years of LNG Imports
Japanese gas buyers on Wednesday marked the 50th anniversary since the first cargo of liquefied natural gas (LNG) arrived in Japan, now the world's biggest importer of the fuel.The arrival of the cargo on Nov. 4, 1969 helped transform Japan's energy system, which had relied on oil, coal and gas from coal in an era of high growth, before nuclear power was developed.But Japan's…
New LNG Import Terminal Planned at Port Kembla
A consortium including Japan's JERA Co and Marubeni Corp aiming to ship liquefied natural gas (LNG) to Australia's east coast has chosen a site south of Sydney at Port Kembla for an import terminal, it said on Monday.The project will allow access to a new gas supply for local industries in New South Wales state by 2020, the consortium, Australian Industrial Energy (AIE), said in a statement.AIE also includes iron ore magnate Andrew Forrest's Squadron Energy.
Freeport LNG Delays Start of Texas Export Terminal
Freeport LNG, a privately held U.S. liquefied natural gas company, said on Thursday it pushed back the projected start date for its $13 billion export terminal under construction in Texas by about nine months to around Sept. 1, 2019.Freeport LNG now expects the first liquefaction train to enter service around Sept. 1, 2019, with the second and third trains seen in service around Jan.
Japan Restarts Reactor as Return to Nuclear Gathers Pace
Japan's Kyushu Electric Power Co on Friday said it restarted a reactor at its Genkai plant, the fifth nuclear power station in the country to get cleared under new safety regulations imposed after the Fukushima disaster. The move signals that Japan's return to nuclear power - criticized by some as too slow but still opposed by a majority in opinion polls - is gathering pace.
Swiss Traders Grab $10 Billion Slice of LNG Market
Traders mopping up LNG glut, finding new emerging market buyers. Swiss trading houses are muscling in on the global market for liquefied natural gas, until now the preserve of energy giants, and expect to grab a $10 billion share of the rapidly growing business this year. Trafigura, Gunvor, Vitol and Glencore are all shaking up a decades-old system dominated by Western oil…
As Japan Re-embraces Nuclear Power, Safety Warnings Persist
Japan's re-embrace of nuclear power, on display last week with the recertification of two ageing reactors, is prompting some critics to warn that Tokyo is neglecting the lessons of Fukushima. In the first such step since the 2011 disaster, Japan's Nuclear Regulation Authority (NRA) on June 20 approved Kansai Electric Power Co's application to extend the life of two reactors beyond 40 years.
Tokyo Gas to Build LNG Tank at Sodegaura Terminal
Tokyo Gas Co, Japan's biggest natural gas utility, said on Friday it plans to build a new liquefied natural gas (LNG) tank at the Sodegaura LNG terminal on Tokyo Bay. The 200,000-kl tank, slated to begin operations by March 2024, will be able to hold 92,000 tonnes of LNG, making it larger than two ageing tanks that are set to be demolished, a company spokesman said. Tokyo…
Anadarko in Talks with Jera for Mozambique LNG Deal
Anadarko Petroleum is in talks with newly formed Japanese joint-venture vehicle Jera, set to become the world's biggest buyer of liquefied natural gas (LNG), to sell long-term supply from its Mozambique export scheme. The U.S. oil major's gas finds in Area 1 of Mozambique's Rovuma Basin will feed the initial 10 million tonnes per annum (mtpa), $23 billion LNG export project, which is due to start by 2021.
Acquisitions, Mergers Show Changing LNG Dynamics
Nothing shows the changing nature of the global liquefied natural gas (LNG) market than the creation of super-sized producers and buyers. The $70 billion merger of Royal Dutch Shell and BG and the joint fuel procurement venture between Japan's top utilities, Tokyo Electric Power Co and Chubu Electric Power Co, are flip sides of the same coin. On the one hand Shell is trying to create a natural gas giant…
Global LNG Prices Fall on Lacklustre Demand
Asian spot liquefied natural gas prices for March delivery fell sharply for a second week as traders said supply disruptions failed to derail the market's downward trajectory weighed by weak demand. The price of spot LNG fell to $8 per million British thermal units (mmBtu) on Friday from $9.00 last week. One bullish factor for the market was Yemen declaring force majeure on LNG deliveries from its Balhaf plant…
Tepco, Chubu Buying 6 LNG cargoes from Vitol
Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender, three traders said on Friday. "They are waiting for the government to confirm," one of the traders said. Vitol and GDF Suez are expected to supply three cargoes each, the traders said.
Japan Atomic Power to Bifurcate to focus on decommissioning
Japan Atomic Power Company is considering splitting itself into two units, seeking to restructure its business to focus on the decommissioning of nuclear reactors on behalf of regional utilities, the Nikkei business daily reported on Saturday. The plan appears to reflect the government's intention to reorganise Japan's nuclear power businesses, which have effectively come to a halt since the 2011 Fukushima disaster, the newspaper said.
LNG Prices Hold Steady in Slow Trade
Asian spot liquefied natural gas (LNG) prices were steady on Friday as a mild winter continued to curb demand from many of the traditional LNG destinations. The spot price <LNG-AS> for February was steady at about $10.00 per million British thermal units (mmBtu), in line with the previous week. Traders said, however, that prices were nominal given there was very limited activity.
Cameco Resumes Jet Boring at Cigar Lake Mine
Canadian uranium miner Cameco Corp said on Thursday that it has resumed jet-boring, a system of using water to carve out cavities in the ore body, at its Cigar Lake, Saskatchewan mine. Cameco said in July that problems with freezing the ore and the ground around it had led to a halt in production at Cigar Lake, the company's newest mine that opened in March. Cameco operates the mine and owns 50 percent of it…
Japanese Court Rules Against Nuclear Operator
Japan district court rules Tepco responsible for woman's suicide. Tepco ordered to pay 49 mln yen ($472,000) compensation. The operator of Japanese nuclear reactors that melted down in 2011 is responsible for the suicide of a woman who became depressed after the accident and it must pay $472,000 in compensation, a court ruled on Tuesday. The surprise ruling could set a precedent…
Global Nuclear Power Falls to Lowest Level Since 1980s
Atomic power's share of global electricity supply is at the lowest level since the 1980s following the shutdown of Japan's reactors after the Fukushima disaster, and may fall further without major new plant construction. The forecast is one of the main conclusions of the World Nuclear Industry Status Report 2014, a draft copy of which was passed to Reuters before general release later on Tuesday.
First PNG LNG Cargo Shipped by Exxon Mobil
Exxon Mobil Corporatio says it has shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG (Papua New Guinea) LNG project ahead of schedule. PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan.
US Vows Help to Japan for Fukushima Nuclear Cleanup
U.S. Ambassador to Japan Caroline Kennedy pledged U.S. support for the clean-up at Japan's tsunami-wrecked Fukushima Daiichi nuclear power plant on Wednesday after her first visit to the site. Kennedy, dressed in a white radiation protective suit with her name taped on the back and a mask covering her face, went inside a damaged reactor building where she saw how Tokyo Electric Power Co (Tepco) is removing fuel rod assemblies from a cooling pool.
Japan Approves Energy Plan Reinstating Nuclear Power
Japan's Cabinet on Friday approved a new energy policy, reversing the previous government's plans to gradually mothball nuclear power plants following the 2011 Fukushima disaster. The plan defines nuclear as an "important baseload power source" and also says Japan will do as much as possible to increase renewable energy supplies, Industry Minister Toshimitsu Motegi told a news conference after the Cabinet meeting.