Monday, November 5, 2018

SRE, Total Sign LNG Agreement -- November 5, 2018

SRE and Total join forces: to develop North American LNG export projects
the other day it was reported that the US and Australia were in a race to become #1 in LNG exports, along with some Mideastern country (Qatar?)
it's being reported over at SeekingAlpha
  • Sempra Energy and Total sign a memorandum of understanding to develop North American liquefied natural gas export projects, which could see Total acquire a further stake in the sector
  • the MOU says Total could contract for as much as 9M metric tons/year of LNG offtake across SRE’s LNG export development projects on the U.S. Gulf Coast and west coast of North America, specifically the Cameron LNG Phase 2 and Energia Costa Azul LNG projects
  • Total, which is already a partner of Cameron LNG joint venture with a 16.6% stake, also may acquire an equity interest in the Energia Costa Azul LNG project
  • the $10B Phase 1 of the Cameron LNG project includes three liquefaction trains under construction in Louisiana, with commissioning of the first train now under way and all three trains expected to be producing LNG in 2019; Phase 2 encompasses up to two additional liquefaction trains and up to two additional LNG storage tanks.
Israeli natural gas, update on Leviathan: last update was posted here. Rigzone is reporting that Noble's project is now 67% complete.

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