Chevron Corp is slowing spending on the Kitimat liquefied natural gas project on Canada’s Pacific Coast amid a crash in oil prices and competition from new projects worldwide.
The San Ramon, California-based producer is also delaying all final investment decisions except for its Tengiz field in Kazakhstan, Chief Executive Officer John Watson said on a conference call on Friday. He did not elaborate on the slowing of investment in Canada.
ExxonMobil has signed a Memorandum of Understanding (MOU) to supply natural gas to power plants in Papua New Guinea.
The company said it would begin preparations this year to drill an appraisal well at the P’nyang field, which is co-owned by Oil Search.
ExxonMobil said the reserves could “enable expansion of the PNG LNG project which could include the development of a possible additional train”.
BG Group has loaded up its first cargo from the QCLNG (Queensland Curtis Liquefied Natural Gas) project.
The company said the first vessel being loaded is from the Methane Rita Andrea.
A second cargo will be loaded onto the Methan Mickie Harper which is expected in Gladstone in the first week of January.
The chief executive of Cheniere Energy has had his salary cut to $1 following a revolt by the company’s shareholders.
Last year, Charif Souki took home a $142million pay package.
However, Cheniere Energy said it was cutting his salary from $800,000 to just $1, but also approved a cash bonus of $2.4million.
US oil firm Apache has sold off its interest in two LNG projects along with accompanying reserves to Woodside Petroleum in a $3.75billion deal.
The company is also expected to be reimbursed $1billion for its net expenditure on the two assets, Wheatstone and Kitimat.
The terms of the agreement means Apache will sell its equity ownership in its Australian subsidiary Apache Julimar.
Australia is keen to develop a potential $1.1 billion natural gas project that’s been described as a “pipeline to nowhere.”
APA Group, the nation’s largest gas pipeline owner, has signaled its interest in building the project linking the Northern Territory with east-coast markets.
The federal government sees it as a way to ease a looming shortage.
Finland and Estonia have reached an agreement on a road map for creating a Liquefied Natural Gas (LNG) terminal between the two countries.
The Finnish Prime Minister Alexander Stubb and Estonian Prime Minister Taavi Rõivas said the two countries will implement the LNG projects when it is both “technically and economically feasible” to do so.
The plan includes the construction of a large-scale LNG terminal in Finland, which would then provide liquefied natural gas to users in the region at competitive prices.
The former chief operating officer of BG Group, Martin J Houston, has launched an LNG (Liquefied Natural Gas) business.
Parallax Energy announced the launch of its worldwide headquarters in Houston this week.
A major contract has been awarded to Philippines fabricator Atlantic Gulf and Pacific Company (AG&P) to build process modules for one of the world's largest LNG projects in Russia.
The company will carry out work on the Yamal liquefied natural gas(LNG) project and is based in the estuary of the Ob River which is ice-bound nine months of the year.
