Keyword: lng
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Acceptance of natural gas as a consumer motor fuel has a long road ahead, even if Texans soon will be able to travel it in a gas-powered version of their favorite vehicle – a Ford F-150 pickup. Concerns about a lack of refueling stations, higher up-front costs and limited availability of the vehicles themselves mean that customers will probably not be rushing to buy natural gas trucks or cars any time soon. Still, a bi-fuel option on 2014 models of the top-selling F-150 – which will let the trucks run on natural gas or gasoline – along with changes in...
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Japan registered a ¥4.84 trillion ($48.7 billion) trade deficit for the six months through June, the biggest on record for any six-month period, as the yen’s sharp slide boosted import costs despite a rebound in exports, the government said Wednesday. During the first half of 2013, the value of imports rose 9.2 percent on year to ¥38.8 trillion, with those of liquefied natural gas jumping 13.2 percent and of crude oil increasing 6.0 percent, the Finance Ministry said in a preliminary report. Exports, a key engine of Japan’s economic growth, grew 4.2 percent to ¥33.96 trillion on the back of...
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Liquefied natural gas (LNG) is finding a home in an increasing number of transportation applications. On land, the fuel is gaining acceptance as a cleaner-burning and cheaper alternative to diesel in truck fleets and rail locomotives. The waterborne transport community is also turning to LNG to power ferries, tankers and other marine vessels. It will only be a matter of time until the aviation sector begins adopting LNG as a transport fuel as well, according to Graham Dorrington. The senior lecturer in aeronautical engineering at RMIT University in Melbourne, Australia contends that commercial airlines will find the environmental and economic...
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The perception of natural gas as a mainstream fuel for vehicles runs the gamut, dependent upon where you live: from the improbable…to the viable…to the everyday reality. So from recent burrito research expeditions, here are ten points to stir up the melding pot of the great natural gas vehicle debate. 1) Here is a breakdown of the total number of natural gas vehicles globally. The key takeaways: there are A LOT of natural gas vehicles already in the world (15 millionish in 2011) and the number is rapidly increasing. However, there are relatively few in North America (aka, the tiny...
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Moscow has reiterated its vivid interest for Cyprus’ natural gas by expressing once again its interest for the exploitation of the reserves in the island’s exclusive economic zone (EEZ). The interest was expressed during a meeting in Moscow between the Cyprus House President Yiannakis Omirou and Russian Deputy Minister of Energy Yury Sentyurin. The meeting lasted two hours and was also attended by the members of the parliamentary party delegation which accompany Omirou, as well as by representatives of Russian natural gas companies, NOVATEK and Gazprom Bank. Omirou arrived in Russia this morning, for a two-day official visit, heading a...
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While the 16th round two-day India-China border talks concluded in Beijing Saturday seeking to resolve the vexed boundary disputes, some of which dates back prior to the establishment of either an independent India or the establishment of the People's Republic of China, but both the Asian giants have pitched themselves in the deep waters of Mozambique - home to the world's biggest gas discovery in a decade - for a higher stake in global energy assets. India made a difference with the Oil and natural Gas Corp. Ltd (ONGC) and Oil India Ltd. (OIL) clinching a deal, an entry into...
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BEIJING, June 29 (Xinhua) -- China Petrochemical Corporation (Sinopec) said on Saturday that it has completed the purchase of 50 percent of Chesapeake's share in its Mississippi Lime assets for 1.02 billion U.S. dollars. Chesapeake is the second-largest natural gas developer in the United States and its Mississippi Lime oil and natural gas assets are in northern Oklahoma. Sinopec signed the agreement with Chesapeake on Feb. 23 through its wholly-owned subsidiary Sinopec International Petroleum Exploration and Production Corporation. The deal means Sinopec acquires 425,000 acres (171,991 hectares) in the Mississippi Lime shale formation, with estimated proven and probable (2P) oil...
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As the possibility of free market competition in liquefied natural gas sales looms, Gazprom is preparing to do battle with potential domestic and international rivals. The gas giant plans to take as much as 15 percent of the world LNG market, up from its 5 percent share today, Gazprom chief Alexei Miller said at annual shareholder meeting held at company's headquarters on Friday. Europe's own gas production is decreasing, while many LNG producers prefer to supply premium markets in the Asia-Pacific region. As a consequence, Europe's share in world LNG imports decreased from 28 percent in 2009 to 21 percent...
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Natural gas turbines now are powering the world’s fastest ferry, according to GE. Two of the turbine-maker’s engines, capable of generating a combined 59,000 horsepower, were installed on a 325-foot passenger and vehicle ferry, GE said. The ferry has reached record speeds while running fully on natural gas and will soon be delivered to Argentina, where it will begin shuttling passengers between Buenos Aires and Montevideo, Uruguay, according to GE. The “wave-piercing catamaran” can travel at a speed of 58.1 knots, or 67 miles per hour, Australian ferry builder Incat Tasmania said in a statement. “Of course there’s a few...
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ExxonMobil is hoping to get the green light from Canada’s National Energy board to export 30 million tons liquefied natural gas (LNG) per year and build a new export terminal in British Columbia. This is the biggest export plan ever proposed for Canada’s west coast. The oil giant has optioned land from the government of British Columbia in a place called Grassy Point, just north of Prince Rupert, and is now seeking approval for the massive LNG terminal project.
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Cyprus and a US-Israeli partnership on Wednesday signed a statement of intent for the development of a natural gas liquefaction plant on the island. The parties are the Cyprus state, Noble Energy International, and Israel’s Delek Drilling and Avner Oil Exploration Limited Partnership. It is hoped the preliminary accord will lead to a final agreement in the future setting up a joint venture between the parties – a special-purpose vehicle seeking investors for the estimated €7 to €8bn LNG plant. “The signing of the memorandum between the Republic of Cyprus and the three companies represents the next milestone on the...
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ST. PETERSBURG, RUSSIA – Russia’s state-owned gas company Gazprom and a Japanese joint venture signed a memorandum Saturday to build a liquefied natural gas production base in the suburbs of Vladivostok and jointly sell LNG in Japan. Gazprom aims to expand in Asia amid falling sales in Europe, while Japan Far East Gas Co. hopes to lower LNG procurement costs by participating in building the production base. The joint venture was established in December 2010 by Itochu Corp., Japan Petroleum Exploration Co., Marubeni Corp., INPEX Corp. and Itochu Oil Exploration Co.
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The American shale gas revolution has led to a strong and growing interest in liquefied natural gas (LNG) exports as a result of domestic supply far outstripping domestic demand, coupled with strong international demand. Current U.S. policy requires Department of Energy (DOE) approval for exports to countries with which the US does not have free trade agreements, based on the sole criteria of whether a requested permit to export would be in the public interest. This week, the process by which the Department evaluates permits to export LNG was analyzed in earnest by the House Energy & Commerce Committee’s Subcommittee...
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Expands to Rail with GE Transportation SEAL BEACH, Calif.--(BUSINESS WIRE)-- Clean Energy Fuels Corp. (Nasdaq:CLNE) today released Vol. IV of ROAD TO NATURAL GAS, an update of its growing portfolio of customers making the switch to natural gas as a transportation fuel or expanding their current fleets. This edition includes new agreements recently signed including Clean Energy’s first railroad fuel deal with GE Transportation to provide liquefied natural gas (LNG) for its new initiative to test LNG locomotives...
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When President Obama meets with Russian President Vladimir Putin at the Group of Eight meeting this week, there should be a spotlight on our two nations’ drastically different approaches to natural gas exports. While Russia continues to export natural gas and dominate the European market, the United States continues to slow-walk approval for natural gas exports. Our slow and sluggish process is affecting U.S. economic and national security. While traveling recently to Azerbaijan, the Persian Gulf and Eastern Europe to research energy issues, I witnessed the heavy hand of Russian influence and oppression. Russia’s control of the natural gas market...
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WASHINGTON (Reuters) - Delays in approval of more natural gas export projects are costing U.S. companies millions of dollars a day and giving a leg up to rival countries also looking to boost exports, the chief of Exxon Mobil Corp (XOM.N) said on Thursday. The comments by Exxon's Rex Tillerson came hours after new U.S. Energy Secretary Ernest Moniz told lawmakers he hopes to "expeditiously" begin evaluating the more than a dozen applications awaiting approval to export liquefied natural gas (LNG). "It's a very competitive marketplace. It's not like people are just going to stand at our door like panting...
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...Already, a raft of global players have opened their wallets to invest in the early stages of the dozen or more planned Liquefied Natural Gas (LNG) export facilities, which chills methane gas to -260 degrees to move it as a liquid in ships. International owners include China Investment Corporation, BG Group from the United Kingdom, Government of Singapore Investment Corporation, Mitsui from Japan, Osaka Gas from Japan, Qatar Petroleum, RRJ Capital from Hong Kong and Singapore , RWE from Germany, Temasek from Singapore, and Tokyo Gas . Midstream Master Limited Partnerships (MLPs) are the logical owners of LNG export facilities,...
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There are few, if any, US energy policy decisions that are being more fiercely debated than the fate of liquefied natural gas exports. With a recent, high-profile approval from the Department of Energy, ramped up rhetoric and more decisions looming, it might be a good time to get up to speed on the LNG export issue. What’s this about? If you’ve followed the LNG export fight just a little, you’ve probably heard that, thanks to the shale gas revolution, the US has abandoned its plans to import gas from foreign markets and is now looking to aggressively export it. Ample...
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Exxon Mobil and Qatar Petroleum International have announced plans to build a $10 billion natural gas liquefication facility in the Gulf Coast port of Sabine Pass. The announcement comes as the two companies and the rest of the natural gas industry eagerly await permission from the U.S. government to begin exporting natural gas, which is cooled and liquefied before being shipped overseas.
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In the second article of this series, we examined the second of the top three promising U.S. LNG (liquefied natural gas) exporters, Dominion Resources (D), that could benefit from the rising demand for LNG. Today, I will discuss about the top LNG exporter making business with natural gas (UNG) that could very much profit from the vast potential offered by the natural gas boom in the U.S. To see my article on this opportunity, click here... Cheniere Energy (LNG)
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