LNG - 22 January 2020

Asian LNG spot prices have fallen to a new multi-year low, with at least one cargo selling for less than US$4 per million Btu.

Buckeye Partners L.P. has announced that the IFM Global Infrastructure Fund has contributed its 57.6% equity interest in Freeport LNG Development L.P.’s Train 2 into Buckeye.

Asian LNG sellers, such as Osaka Gas, are seeking alternative markets as the global LNG market hits multi-year lows.

PAO NOVATEK has announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed a comprehensive reserve appraisal of the company’s hydrocarbon reserves as of 31 December 2019.

McDermott International, Inc. has announced that it has the support of more than two-thirds of all its funded debt creditors for a restructuring transaction that will equitise nearly all its funded debt.

MAN Cryo has signed a contract to supply the LNG fuel gas supply systems to Wallenius SOL, in connection with the construction of two RoRo newbuildings in China at the Yantai Raffles shipyard.