US LNG facility strikes 20 year contract with Vietnam facility

Fuel Fix:
A liquefied natural gas export terminal being developed in Louisiana by Australia-based LNG Limited has landed a supply deal for a power project planned in the Mekong Delta of southern Vietnam.

In a statement issued on Sunday evening, LNG Limited announced that its proposed Magnolia LNG export terminal in Lake Charles has landed a 20-year supply deal to an electric power project being developed by Singapore-based Delta Offshore Energy in Vietnam's Bac Lieu province.

The contract with Delta Offshore Energy and the government of Bac Lieu province will be for 2 million metric tons of LNG per year for 20 years.

Magnolia LNG has yet to be built but the company holds a federal permit to build a plant at the site that will produce 8 million metric tons of LNG per year. LNG Limited is seeking permission to boost that production by another 800,000 metrics tons per year but the Vietnamese supply represents one-fourth the proposed plant's currently permitted production.

"This agreement is a major achievement for the Magnolia LNG project as we progress our global commercial and marketing push toward a final investment decision," LNG Limited CEO Greg Vesey said in a statement.

Under a deal approved by the Vietnamese government, Delta Offshore Energy will be building a natural gas power plant in Bac Lieu province as well as an offshore LNG import terminal known in the industry as a floating storage regasification unit, or FSRU.

Tankers from Magnolia LNG will arrive at the planned offshore LNG import terminal where the supercooled liquid fuel will be converted back into its gas form and fed into an underwater pipeline that will move the natural gas to the onshore power plant.
...
The Asia market appears to be getting stronger for US LNG exports despite the trade problems with China.  In fact, the trade problems with China are leading to an expansion of the US markets in Asia to China's detriment.  Vietnam is already getting several manufacturing deals because of the Chinese unwillingness to enter into a fair trade deal with the Trump administration.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more