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Gold/Mining/Energy : LNG -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (38)	1/23/2004 8:57:01 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 919

LNG: Where Will it Go? neftegaz.ru © Nick Muessig Neftegaz.ru New forces are shaping the LNG trade east of the Suez Canal. China has signed a major agreement with Australia for LNG supply from Australia’s Gorgon plant from 2008. In addition, the American west coast is desperately seeking an alternative energy source. The potential demand of China and the United States has only accelerated the development of the Gorgon project in Australia, now in its pre-construction stage. But Gorgon is only one of many planned or under-construction plants competing for the Asia-Pacific market. Projects such as Gorgon are simply the result of strong demand projections for natural gas. Asian demand alone is forecast to rise from 87 million tonnes per year in 2005 to 116 million tonnes per year by 2010 and 138 million tonnes per year by 2015. This does not include the US West Coast. Unfortunately, analysts believe that over the short-to-medium term there are too many projects chasing customers. For example, if Gorgon is to rely on demand only from the established Northeast Asian buyers, it is unlikely that it could contemplate production until sometime in the next decade. In fact, if all proposed plants and expansions are realized, capacity for Asian markets could outstrip demand by 50 million tonnes per year in 2010, a US study says. It’s unlikely, however, that all projects will be completed, at least as scheduled. In addition, Asian supply can be 'controlled' as plants in the Middle East swing supply to Europe and America’s east coast through the Suez Canal if there is insufficient Asian demand. Western hemisphere producers cannot ship LNG through the Panama Canal to the Pacific because the canal is too narrow. Key to Gorgon’s future, and the future of LNG in the Pacific, is the development of the American West Coast. With the State of California facing an increasing shortfall in piped gas supply, LNG import terminals are being planned by leading energy companies to meet what, by 2015, could be demand in the order of 15 million tonnes per year. ChevronTexaco has heeded the call through its plans to import LNG to California from Gorgon by the end of 2007 through a five million tonnes-per-year terminal in Mexico. Gas will then be piped north and/or supplied to local power plants that export electricity to California. What will be most interesting as the LNG market develops is how the energy source will be traded. Some analysts believe an ‘OPEC like’ organization will form where LNG producers band together to determine market supply and price, drastically changing global economics and politics. Others see LNG giving a second wind to some OPEC members whose crude supply is quickly drying up. And yet some downplay the craze calling LNG too risky, and likely to fail. Whatever happens, it is clear the world of energy is in for a change.

To: Dennis Roth who wrote (38)	7/28/2004 6:57:22 AM
From: Dennis Roth	Respond to of 919

US energy giant signs LNG supply deal with RasGas II - Qatar menafn.com The Peninsula - 28/07/2004 DOHA: Ras Laffan Liquefied Natural Gas Company Ltd (II) , popularly known as RasGas II, and FPL Group Resources LLC, a subsidiary of FPL Group Inc, have announced the signing of a Heads of Agreement (HoA) to supply LNG from Qatar to a proposed terminal and regasification facility located at South Riding Point on Grand Bahama Island. Under terms of the HoA, RasGas II and FPL Group Resources have entered into an exclusive agreement and expect to conclude an LNG sale and purchase agreement (SPA) for approximately 800,000 million British Thermal Units (MMBtu) per day of LNG, or about six million tonnes per annum (mtpa) to be delivered over a 25-year period beginning in mid 2008. The feed gas will come from Qatar's North Field, the largest offshore non-associated natural gas field in the world, with proven natural gas reserves in excess of 900 trillion cubic feet (tcf). FPL Group Resources plans to sell the regasified LNG to wholesale customers throughout Florida. RasGas II is a joint venture between Qatar Petroleum (QP) and ExxonMobil RasGas Inc, an affiliate of ExxonMobil. RasGas ventures are currently engaged in projects that are expected to deliver more than 36 million tons per annum to South Korea, India, Europe and the United States by 2011. "Qatar Petroleum, through its joint venture participation in RasGas II, is very pleased for this opportunity to sign a long-term agreement for the supply of LNG to FPL Group Resources LLC for the United States market. We anticipate a close and mutually beneficial relationship with the Bahamas, as that country is an integral part of this project's success," said Dr Ibrahim B Ibrahim, Vice-Chairman of RasGas Board of Directors. "Today's announcement is another important step in bringing an additional supply of much needed natural gas to South Florida," said Brad Williams, vice president, Gas Projects, for FPL Group Resources. "RasGas is a proven leader in the global LNG business and shares our commitment to safety and environmental stewardship. We look forward to continue working with the Bahamian government to ensure the success of this project." As previously announced, FPL Group Resources recently executed a precedent agreement with Seafarer Bahamas Pipeline Ltd. and Seafarer US Pipeline Inc, subsidiaries of the El Paso Corporation, for transportation of regasified LNG from the proposed LNG terminal on Grand Bahama Island. The venture encompasses production operations from Qatar's giant North Field for the manufacture of LNG, and exports LNG to current and anticipated markets in Asia/Pacific, Europe and USA. By 2011, the RasGas venture is expected to process and supply more than 36 mtpa of LNG to meet rising global demand.

To: Dennis Roth who wrote (38)	11/21/2004 12:43:59 PM
From: Dennis Roth	Respond to of 919

El Paso ready to construct Bahamas-Florida gas pipeline Thursday November 18, 04:06 PM uk.biz.yahoo.com El Paso Corporation (NYSE: EP - news) has applied to federal regulators for authorization to construct and operate the US section of a project intended to bring natural gas from a liquefied natural gas regasification facility in the Bahamas to southern Florida. El Paso Corporation has applied to federal regulators for authorization to construct and operate the US section of a project intended to bring natural gas from a liquefied natural gas regasification facility in the Bahamas to southern Florida. The Seafarer Pipeline System consists of an 87-mile international segment from the proposed High Rock LNG regasification terminal in the Bahamas to the US-Bahamas Exclusive Economic Zone (EEZ) boundary in the Atlantic Ocean and a 41-mile US segment from the EEZ to an onshore interconnect with the existing Florida Gas Transmission pipeline system in Palm Beach County, Florida. El Paso applied to the Federal Energy Regulatory Commission for authority to build the 41-mile segment of the project. Construction is scheduled to begin in 2006, and the 26-inch pipeline is expected to be in service by 2008. Liquefied natural gas (LNG) is expected to play a significant role in US plans to meet its needs for natural gas. Demand from existing resources is already threatening to outstrip supply. "We continue to make progress with the Seafarer project, which will provide a new source of natural gas supplies for southern Florida," said John Somerhalder II, president of El Paso's Pipeline Group. "Seafarer has market support with its existing pipeline capacity agreements, as well as clear technical and environmental advantages."

To: Dennis Roth who wrote (38)	12/14/2004 2:03:58 PM
From: Dennis Roth	Respond to of 919

FPL, Suez, El Paso team up on Florida LNG plans By Stephanie I. Cohen Last Updated: 12/14/2004 12:13:26 PM investors.com WASHINGTON (CBS.MW) -- Subsidiaries of FPL Group, Suez, and El Paso Corp. announced plans Tuesday to be joint equity owners in a project to build a pipeline to connect liquefied natural gas receiving terminals in the Bahamas with customers in South Florida. FPL (FPL), a Florida utility, currently has an option to purchase 100 percent of the development rights of El Paso's (EP) proposed receiving terminal at South Riding Point on Grand Bahama Island along with 50 percent of a proposed Seafarer pipeline stretching to Palm Beach County, Florida. El Paso owns the largest natural gas pipeline system in North America and is one of the largest independent natural gas producers. Tractebel North America, a subsidiary of French utility company Suez (SZE), is developing the Calypso pipeline project to transport natural gas to Broward County from a terminal in Freeport, Grand Bahamas. The agreement provides for FPL Group Resources, affiliates of Tractebel, and El Paso to all have an equity stake in both the Seafarer and Calypso pipelines and "ultimately plan to construct one of these pipelines from the Bahamas to Florida," the statement said. Under the agreement FPL Group Resources and Tractebel North America, will also be equal owners of a proposed receiving terminal in the Bahamas and a Florida marketing company called Sailfish Natural Gas Company. The new Sailfish marketing company plans to issue a proposal for liquid natural gas in connection with an earlier request by Florida Power & Light Company, a statement from the FPL said. © 1997-2004 MarketWatch.com, Inc.

To: Dennis Roth who wrote (38)	4/9/2005 10:08:21 AM
From: Dennis Roth	Respond to of 919

Seafarer pipeline said still on track palmbeachdailynews.com Bahamas rejects second proposed site for natural gas line, but companies told they can investigate other sites. By WILLIAM KELLY, Daily News Staff Writer Saturday, April 09, 2005 Houston-based El Paso Corp. said this week that the Bahamian government's rejection of a proposed site in the Bahamas for a liquid natural gas terminal won't derail its plan to build the terminal and a high-pressure natural gas pipeline from the Bahamas to South Florida. "It doesn't change the plan, and it doesn't impact the schedule," El Paso spokesman Aaron Woods said. El Paso plans to open the terminal in 2008. Known as the Seafarer, the pipeline would carry gas from Grand Bahama Island to Palm Beach County. After passing through the Palm Beach Inlet, it would go around Peanut Island and come ashore in Riviera Beach, near Florida Power & Light Co.'s Riviera Station plant. The Town of Palm Beach and some residents have objected to the route, saying the risk of explosion, due to an accident or terrorist activity, places too great of a risk to residents and property. El Paso says the pipeline is safe and the gas is needed to meet South Florida's growing energy needs. The gas would originate in the Middle Eastern nation of Qatar. It would be frozen and transported by tankers to the LNG terminal, and converted into gaseous form for transmission in the pipeline. FPL Resources Group has an option to buy 100 percent of the gas. The Bahamas Environment Science and Technology Commission recently refused to approve a site at South Riding Point on East Grand Bahama for the terminal. It is the second location the commission has rejected. The commission told El Paso and Suez Energy North America (formerly Tractebel), which would build the terminal, that they were free to investigate other possible sites in the Bahamas, Luther E. Smith, senior executive assistant to Prime Minister Perry G. Christie, said this week. The commission also expressed safety concerns about the terminal, Smith said. El Paso, Suez and FPL Resources Group will look for another site in the Bahamas and will address the Bahamas' safety concerns, Woods said. In the United States, El Paso has applied with the Federal Energy Regulatory Commission and other agencies for permission to build the pipeline. El Paso expects to receive federal certification before the end of the year, Woods said.