Latest news with #CurtisWilliams
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5 days ago
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Canada could produce first LNG by this weekend, sources say
By Curtis Williams HOUSTON (Reuters) -Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Wednesday. The facility, the first of a handful of Canadian LNG projects to begin production, will be the first LNG facility in North America with direct access to the Pacific coast, significantly reducing sail time to Asian markets. When fully operational it will have a capacity to export 14 million metric tonnes per annum (mtpa), according to company statements. "We began cooling down Train 1 on Monday and as long as there is no unforeseen difficulty we expect to produce LNG six days from Monday. So I would say between Saturday and Sunday we can expect first LNG," one of the people familiar with the startup told Reuters. Cooldown of Train 1 is expected to continue until Thursday June 19 and extensive flaring is expected, LNG Canada told staff in a memo last Friday. First LNG will be produced from Train 1, with first LNG cargoes by the middle of this year, LNG Canada told Reuters on Tuesday. Only a portion of the processing plant will be operating this weekend, according the two sources. Train 1 which has a capacity of 6.5 mtpa, or half of the total output of LNG Canada, has had difficulties with one of its lines and it will only produce at half its capacity until it is able to solve the problem, one of the two sources told Reuters. LNG Canada did not comment on the production challenges. LNG tanker Gaslog Glasgow is on its way to LNG Canada's Kitimat port, according to LSEG ship tracking data. The vessel is expected to arrive on June 29 and will be loaded with LNG, the people said. It is now seven years since the partners, Shell Plc, Petronas, PetroChina, Mitsubishi Corporation gave the project a financial go ahead. Once LNG Canada enters service, Canadian gas exports to the U.S. will likely decline, traders said, as Canadian energy firms will have another outlet for their fuel and will sell more to other countries. For now, the U.S. is the only outlet for Canadian gas. Canada exported about 8.6 billion cubic feet per day (bcfd) of gas via pipelines to the U.S. in 2024, up from 8.0 bcfd in 2023 and an average of 7.5 bcfd over the prior five years (2018-2022), according to data from the U.S. Energy Information Administration. That compares with a record 10.4 bcfd in 2002.
Yahoo
10-06-2025
- Business
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JERA close to signing deal for 1 MTPA of LNG from Commonwealth, sources say
By Curtis Williams HOUSTON (Reuters) -U.S. liquefied natural gas developer Commonwealth LNG is close to signing a deal with Japan's biggest power generator, JERA, to supply it with 1 million metric tons per annum (mtpa) of LNG from its proposed export facility in Louisiana, two sources told Reuters. The deal would run for 20 years and bring Commonwealth LNG to 8 mtpa committed under long-term contracts. The company has said publicly that it wants to get contracts for at least 8 mtpa of its 9.5 mtpa LNG export terminal capacity to give the project the financial go ahead. The U.S. is the largest exporter of LNG in the world and based on projects under construction and those expected to get the financial go ahead this year, the country could triple its export capacity by 2030. "They have agreed to terms on the deal and should be signing it soon," one of the sources familiar with the negotiations told Reuters. Commonwealth LNG did not respond to a request for comment. JERA declined to comment. Commonwealth was one of the projects impacted by a pause on new LNG export licenses imposed by former President Joe Biden pending a study on the economic and environmental impact of further U.S. LNG expansion. That freeze was lifted by the Trump administration, which has promised to unleash American energy. In February Commonwealth received a conditional non-free trade agreement (non-FTA) export authorization from the Department of Energy. Commonwealth said it expects to reach a final investment decision in September 2025 for the project, with first LNG production expected in the first quarter of 2029. In May JERA announced that it had signed an agreement with NextDecade to purchase 2 mtpa of LNG from its Rio Grande project's fifth liquefaction facility.
Yahoo
02-06-2025
- Business
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US LNG output declines in May from April's record
By Curtis Williams HOUSTON (Reuters) -U.S. liquefied natural gas output fell in May due to plant outages and maintenance at the country's largest export facility, preliminary LSEG ship tracking data show. The U.S. is the world's largest LNG exporter and monthly changes in production can impact global LNG prices. In May the U.S. exported 8.9 million metric tons of LNG, down from a record 9.3 MT in April, according to LSEG data. During May all U.S. plants experienced short periods of lower output when compared to April, the LSEG data showed, and Cheniere Energy confirmed that its 30 MT per annum (mtpa) Sabine Pass facility in Texas, the biggest in the nation, was undergoing maintenance work. Gas flows to Sabine have held at a 23-month low of around 3.1 bcfd since May 31. That compares with an average of 4.3 bcfd over the prior seven days. Freeport LNG, the U.S.' third largest LNG producer, also reported several outages. Europe remained the favored market for U.S. LNG exports as traders tried to take advantage of higher prices in Europe for the superchilled gas when compared to Asia. Gas prices at the European benchmark Title Transfer Facility (TTF) in the Netherlands rose to $11.68 per million British thermal units (mmBtu) in May, up from $11.48 in April and an average of $10.12 in May 2024. Of the 8.9 MT of LNG exported from the U.S., 6.05 MT or 68% went to Europe, the same percentage as in April, LSEG data showed. Exports to Asia remained relatively low with 1.88 MT or 21% of total exports, compared to 2.05 MT or 22% of total exports in April, LSEG data showed. Stronger domestic production, pipeline imports, renewable generation and weak industrial demand have kept Chinese demand muted and China, the world's largest LNG user, continues to resell U.S. LNG to avoid paying retaliatory tariffs as the trade dispute continues between the world's two largest economies. Prices at the Asian benchmark Japan Korea Marker (JKM) slid to $11.83 per mmBtu in May, down from $12.23 in April but up from an average of $11.10 in May 2024. Exports to Latin America also fell with .66 MT sold in May compared to .68 MT in April. Egypt bought 3 cargoes for a total of .22 MT, while Bahrain bought one cargo for .07 MT. One cargo also left Cheniere's Sabine Pass plant on May 23, but as of Monday was in the Caribbean Sea with no clear destination, LSEG ship tracking data showed. The United States is poised to remain the world's largest LNG exporter with an expected 6 projects getting the financial go ahead in 2025, adding another 90 million metric tons per annum (mtpa) of LNG to the U.S. output by 2030. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
29-04-2025
- Business
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Exclusive-Malaysia's Petronas and Commonwealth LNG in talks for term supply, say sources
By Marwa Rashad, Curtis Williams and Emily Chow (Reuters) - Malaysian state-owned oil and gas firm Petroliam Nasional, or Petronas, is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company's facility in Cameron, Louisiana, according to four trading and industry sources with knowledge of the matter. Petronas is in talks to buy at least one million metric tons per annum (mtpa) of LNG from Commonwealth LNG, said two of the four sources, who declined to be identified as they were not authorised to speak to the media. "Talks are at an advanced stage for at least 1 mtpa," said one of the sources. Several Asian countries plan to increase their contractual purchases of U.S. LNG to reduce the trade imbalance with the United States and escape high reciprocal tariffs. Petronas has previously mentioned its key focus area of expanding its global LNG portfolio to meet growing demand, and that its supply from some U.S. contracts could be sold in the spot market to Europe or Asia. Commonwealth LNG and Petronas did not respond to a Reuters request for comment. Commonwealth LNG is developing a 9.5 mtpa LNG plant in Cameron, Louisiana. It received its export license from the U.S. Department of Energy in February having waited almost two years for it under the Biden administration. Commonwealth said it has seen an increase in interest from prospective buyers since securing its export license. The project currently has almost 8 mtpa of its supply either under contract or under consideration, including 2.5 mtpa with Woodside Energy and 2 mtpa with Private equity firm Kimmeridge, which acquired a 90% stake in Commonwealth LNG. Petronas has 20-year deals for 1 mtpa of LNG from Venture Global's Plaquemines facility and 1.1 mtpa with Cheniere Energy. In December, Petronas had also signed a 15-year deal with ADNOC for 1 mtpa of LNG, with deliveries expected to start in 2028. Sign in to access your portfolio
Yahoo
16-04-2025
- Business
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BP begins loading its first LNG cargo from Venture Global's Calcasieu Pass plant
By Curtis Williams (Reuters) - BP Plc (BP) will begin loading its first shipment of liquefied natural gas from Venture Global's (VG) Calcasieu Pass plant in Louisiana on Wednesday, according to LSEG data. The BP-chartered vessel British Mentor was about to dock at the Calcasieu Pass port. It is the first cargo BP is receiving from the export facility under its supply contract, more than three years after Venture Global started selling LNG from the plant on the spot market. Galp Energia said earlier on Wednesday that it had lifted its first cargo from Calcasieu Pass, signaling the start of the 20-year supply agreement signed in 2018 for 1 million tonnes per annum of LNG from the plant. Galp's cargo was loaded onto the Gaslog Wellington, LSEG data showed. The two cargos are the first since Venture Global finished commissioning Calcasieu Pass on April 15. Shares of Venture Global jumped more than 10% in early afternoon trading. Venture Global is the second largest LNG producer in the U.S. and has helped make the U.S. the world's largest exporter of the supercooled gas. Venture Global's years-long delay in providing cargoes to contracted customers of the Calcasieu Pass led to a contentious battle with companies including BP, Galp, Shell, Orlen, Edison and Repsol. They accused Venture Global of dragging its feet to commission the plant so it could profit from higher spot prices. Venture Global has blamed the global pandemic, two hurricanes and a force majeure event triggered by issues with the facility's power island for the extended commissioning. Commissioning, or making sure a new plant's systems are functioning as designed, takes just months at many LNG facilities.
