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Total Acquires a 20% Interest in GLNG Project

14 Sep 2010 05:52

Total announces the signature of an agreement with Santos and Petronas to acquire a 20% interest in the GLNG project in Australia, for US$750 million dollars (as of June 1, 2010), Santos and Petronas transferring 15% and 5% respectively to Total. Upon completion of this transaction which is subject to the approval of the Australian Foreign Investment Review Board, the project will bring together Santos (45%, operator), Petronas (35%) and Total (20%). Pursuant to the agreement, Total shall join the whole integrated Liquefied Natural Gas (LNG) chain, with production from coal seam gas fields in Queensland, eastern Australia, to gas liquefaction in a dedicated plant in Gladstone on the eastern coast of Australia. The plant will have a capacity of 7.2 million tonnes a year (Mt/y). Pursuant to the agreement Total will have the commitment to offtake 1.5 Mt/y of LNG, depending however on the result of ongoing discussions between the GLNG project and several Asian buyers. “As a lea Total announces the signature of an agreement with Santos and Petronas to acquire a 20% interest in the GLNG project in Australia, for US$750 million dollars (as of June 1, 2010), Santos and Petronas transferring 15% and 5% respectively to Total. Upon completion of this transaction which is subject to the approval of the Australian Foreign Investment Review Board, the project will bring together Santos (45%, operator), Petronas (35%) and Total (20%). Pursuant to the agreement, Total shall join the whole integrated Liquefied Natural Gas (LNG) chain, with production from coal seam gas fields in Queensland, eastern Australia, to gas liquefaction in a dedicated plant in Gladstone on the eastern coast of Australia. The plant will have a capacity of 7.2 million tonnes a year (Mt/y). Pursuant to the agreement Total will have the commitment to offtake 1.5 Mt/y of LNG, depending however on the result of ongoing discussions between the GLNG project and several Asian buyers. “As a lea, Total announces the signature of an agreement with Santos and Petronas to acquire a 20% interest in the GLNG project in Australia, for US$750 million dollars (as of June 1, 2010), Santos and Petronas transferring 15% and 5% respectively to Total. Upon completion of this transaction which is subject to the approval of the Australian Foreign Investment Review Board, the project will bring together Santos (45%, operator), Petronas (35%) and Total (20%). Pursuant to the agreement, Total shall join the whole integrated Liquefied Natural Gas (LNG) chain, with production from coal seam gas fields in Queensland, eastern Australia, to gas liquefaction in a dedicated plant in Gladstone on the eastern coast of Australia. The plant will have a capacity of 7.2 million tonnes a year (Mt/y). Pursuant to the agreement Total will have the commitment to offtake 1.5 Mt/y of LNG, depending however on the result of ongoing discussions between the GLNG project and several Asian buyers. “As a lea

Gazprom and SOCAR sign addendum to Azerbaijani gas purchase and sale contract

14 Sep 2010 05:49

Alexey Miller, Chairman of the Gazprom Management Committee attended in Baku an extended meeting with Ilkham Aliev, President of Azerbaijan within the official visit of the Russian Federation President Dmitry Medvedev to the Republic of Azerbaijan. The meeting participants emphasized that Russia and Azerbaijan had a long track record of cooperation, which evolved rapidly and had a great development potential for the future. The meeting resulted in signing an addendum to the effective gas purchase and sale contract for Azerbaijani natural gas between Gazprom and the State Oil Company of Azerbaijan Republic (SOCAR). Pursuant to the addendum, the annual volumes of gas purchase will grow to 2 billion cubic meters starting from 2011 and to more than 2 billion cubic meters from 2012. “At today’s meeting with our Azerbaijani counterparts and Rovnag Abdullayev, President of SOCAR we analyzed the implementation of the contract for gas supply from Azerbaijan to Russia over the period fr Alexey Miller, Chairman of the Gazprom Management Committee attended in Baku an extended meeting with Ilkham Aliev, President of Azerbaijan within the official visit of the Russian Federation President Dmitry Medvedev to the Republic of Azerbaijan. The meeting participants emphasized that Russia and Azerbaijan had a long track record of cooperation, which evolved rapidly and had a great development potential for the future. The meeting resulted in signing an addendum to the effective gas purchase and sale contract for Azerbaijani natural gas between Gazprom and the State Oil Company of Azerbaijan Republic (SOCAR). Pursuant to the addendum, the annual volumes of gas purchase will grow to 2 billion cubic meters starting from 2011 and to more than 2 billion cubic meters from 2012. “At today’s meeting with our Azerbaijani counterparts and Rovnag Abdullayev, President of SOCAR we analyzed the implementation of the contract for gas supply from Azerbaijan to Russia over the period fr, Alexey Miller, Chairman of the Gazprom Management Committee attended in Baku an extended meeting with Ilkham Aliev, President of Azerbaijan within the official visit of the Russian Federation President Dmitry Medvedev to the Republic of Azerbaijan. The meeting participants emphasized that Russia and Azerbaijan had a long track record of cooperation, which evolved rapidly and had a great development potential for the future. The meeting resulted in signing an addendum to the effective gas purchase and sale contract for Azerbaijani natural gas between Gazprom and the State Oil Company of Azerbaijan Republic (SOCAR). Pursuant to the addendum, the annual volumes of gas purchase will grow to 2 billion cubic meters starting from 2011 and to more than 2 billion cubic meters from 2012. “At today’s meeting with our Azerbaijani counterparts and Rovnag Abdullayev, President of SOCAR we analyzed the implementation of the contract for gas supply from Azerbaijan to Russia over the period fr

Essent, Vopak and Gasunie decide not to go through with the Eemshaven LNG terminal

03 Sep 2010 06:53

The study into the feasibility of an LNG terminal in the Eemshaven conducted by Essent, Vopak and Gasunie which was announced in 2007 has now been completed. The study has shown that there is insufficient basis to arrive at a positive investment decision. Groningen Seaports – the company that manages Eemshaven and the port of Delfzijl - has placed the 65-ha area that was reserved for the terminal back on the market. Discussions are currently already underway with interested candidates. This 65-ha site is the last area available in the Eemshaven situated immediately next to deep water. The study into the feasibility of an LNG terminal in the Eemshaven conducted by Essent, Vopak and Gasunie which was announced in 2007 has now been completed. The study has shown that there is insufficient basis to arrive at a positive investment decision. Groningen Seaports – the company that manages Eemshaven and the port of Delfzijl - has placed the 65-ha area that was reserved for the terminal back on the market. Discussions are currently already underway with interested candidates. This 65-ha site is the last area available in the Eemshaven situated immediately next to deep water., The study into the feasibility of an LNG terminal in the Eemshaven conducted by Essent, Vopak and Gasunie which was announced in 2007 has now been completed. The study has shown that there is insufficient basis to arrive at a positive investment decision. Groningen Seaports – the company that manages Eemshaven and the port of Delfzijl - has placed the 65-ha area that was reserved for the terminal back on the market. Discussions are currently already underway with interested candidates. This 65-ha site is the last area available in the Eemshaven situated immediately next to deep water.

Magellan Midstream to Acquire Petroleum Storage and Pipelines

15 Jul 2010 06:00

Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has agreed to acquire 7.8 million barrels of crude oil storage and more than 100 miles of active petroleum pipelines from BP Pipelines (North America), Inc. for $289 million. “This acquisition leverages Magellan’s expertise in transporting and storing petroleum products by greatly expanding our crude oil logistics infrastructure and our energy footprint in the attractive Cushing, Oklahoma and Houston, Texas markets,” said Don Wellendorf, chief executive officer. “These assets will facilitate our strategy to develop our existing East Houston terminal into a key distribution point for crude oil to Gulf Coast refineries by improving Magellan’s connectivity within the Houston market and extending our reach to the Texas City refining region.” Crude oil storage. Magellan will acquire 7.8 million barrels of crude oil storage in Cushing, Oklahoma, supported by a multi-year utilization agreement from the seller. Combine Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has agreed to acquire 7.8 million barrels of crude oil storage and more than 100 miles of active petroleum pipelines from BP Pipelines (North America), Inc. for $289 million. “This acquisition leverages Magellan’s expertise in transporting and storing petroleum products by greatly expanding our crude oil logistics infrastructure and our energy footprint in the attractive Cushing, Oklahoma and Houston, Texas markets,” said Don Wellendorf, chief executive officer. “These assets will facilitate our strategy to develop our existing East Houston terminal into a key distribution point for crude oil to Gulf Coast refineries by improving Magellan’s connectivity within the Houston market and extending our reach to the Texas City refining region.” Crude oil storage. Magellan will acquire 7.8 million barrels of crude oil storage in Cushing, Oklahoma, supported by a multi-year utilization agreement from the seller. Combine, Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has agreed to acquire 7.8 million barrels of crude oil storage and more than 100 miles of active petroleum pipelines from BP Pipelines (North America), Inc. for $289 million. “This acquisition leverages Magellan’s expertise in transporting and storing petroleum products by greatly expanding our crude oil logistics infrastructure and our energy footprint in the attractive Cushing, Oklahoma and Houston, Texas markets,” said Don Wellendorf, chief executive officer. “These assets will facilitate our strategy to develop our existing East Houston terminal into a key distribution point for crude oil to Gulf Coast refineries by improving Magellan’s connectivity within the Houston market and extending our reach to the Texas City refining region.” Crude oil storage. Magellan will acquire 7.8 million barrels of crude oil storage in Cushing, Oklahoma, supported by a multi-year utilization agreement from the seller. Combine

Wood Group to provide ready-for-start-up operations support services for Chevron’s Wheatstone LNG

09 Jul 2010 11:39

Wood Group to provide ready-for-start-up operations support services for Chevron’s Wheatstone LNG plant in Australia Wood Group to provide ready-for-start-up operations support services for Chevron’s Wheatstone LNG plant in Australia, Wood Group to provide ready-for-start-up operations support services for Chevron’s Wheatstone LNG plant in Australia

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