LNG

BP’s chief executive Bob Dudley ahs declared that BP has reached a turning point and is now profitable after the last disastrous year that it has been through following the Macondo oil spill.

A quick roundup of downstream news from Asia.

The energy security strategies of states across the region, if not working in cooperation with each other, could have severe geopolitical and economic repercussions in a region where high food and oil prices threaten economic recovery and human security.

The 38 in. gas pipeline that links the block 18 gas field to the Balhaf terminal on the Gulf of Aden was sabotaged in Yemen on October 15th. The explosion occurred at in a desert region 75 km north of the Balhaf terminal.

Canada’s National Energy Board (NEB) has approved an application by KM LNG Operating General Partnership (KM LNG) for a licence to export liquefied LNG from Kitimat, British Columbia to markets in the Asia Pacific region.

Latin America will account for half of the projected floating production Capex over the next five years according to a new Douglas-Westwood report.

The latest EIC Monitor tracking new active and future projects across the global energy industry shows growth in potential investment value across all sectors this quarter.

The organisation which represents America’s oil and gas companies has cautioned the president’s job council not to overlook potentially a million new oil and natural gas jobs, which could be created by energy development.

Teekay LNG Partners L.P. and its joint venture partner Marubeni Corporation have agreed to acquire ownership interests in eight LNG carriers from Denmark-based, A.P. Moller-Maersk A/S, for approximately US$ 1.4 billion.

Sinopec has agreed to buy Daylight Energy, the intermediate oil an gas company, for C$ 2.1 billion, the deal will give Sinopec access to over 300,000 acres of land rich in oil and shale gas reserves.

Total has signed the final agreements to jointly develop the Yamal LNG project, becoming the main international partner on this gas liquefaction project with a 20% share. Novatek intends to keep at least a 51% interest in the project.

Douglas Westwood has forecast strong growth in the drilling and production of unconventional gas through to 2020.

Arrow LNG (a joint venture between Petrochina and Shell) has acquired Bow Energy after boosting it’s bid to AU$ 535 million (US$ 524.2 million). Arrow had to raise its’ offer by 2% on it’s initial offering to secure the deal.

Chevron has given the green light to start work on the proposed Wheatstone LNG project in Western Australia, the approval has come after Chevron received federal approval to build the 25 million tpa LNG liquefaction plant last week.

A consortium formed by Techint E&C and Sener has successfully completed construction of a 12 billion m3/yr LNG regasification plant at the Gate terminal in Rotterdam. The plant was officially opened in a ceremony involving over 700 people including Her Majesty Queen Beatrix of the Netherlands.