Latest news with #CommonwealthLNG
The Star
26-05-2025
- Business
- The Star
Petronas aims for China, Vietnam expansion while seeking long-term LNG supply
BEIJING: Malaysia's Petroliam Nasional, or Petronas, aims to expand its liquefied natural gas sales into markets such as China and Vietnam while also looking to secure more long-term supply from North America and emerging markets, said a company executive. "As part of our strategic growth plans, Petronas is actively seeking to expand our LNG supply into high-demand markets in Asia, including China and Vietnam," said Shamsairi Ibrahim, vice president, LNG marketing and trading in an email in response to questions from Reuters. "These regions present significant opportunities due to their robust economic growth and increasing energy needs." Apart from LNG, Shamsairi said Petronas is aiming to work with China on other lower-carbon energy solutions including renewable energy, hydrogen, green mobility, ammonia, carbon capture and storage and specialty chemicals. On supply, the Malaysian state energy firm also said it is keen to secure more long-term deals to buy LNG to provide stability and reliability to its customers. "Petronas is exploring opportunities with sellers from diverse regions, including North America and other emerging markets, to enhance our global supply network and meet the evolving needs of our customers," added Shamsairi. "We are in communication with several parties to explore mutually beneficial opportunities, including Commonwealth LNG." Petronas has previously said that its supply from some U.S. contracts could be sold in the spot market to Europe or Asia. Reuters reported last month that Petronas is in talks with Commonwealth LNG for 1 million tons per annum of the fuel from the U.S. company's facility in Cameron, Louisiana. Commonwealth LNG said in early May it had signed a 20-year supply deal with a major Asian energy company, but did not name the buyer. Malaysia was the world's fifth largest LNG exporter in 2024, shipping out 27.98 million metric tons of the chilled fuel last year, according to Kpler data. - Reuters
Business Times
26-05-2025
- Business
- Business Times
Malaysia's Petronas aims for China, Vietnam expansion while seeking long-term LNG supply
[BEIJING] Malaysia's Petroliam Nasional, or Petronas, aims to expand its liquefied natural gas (LNG) sales into markets such as China and Vietnam while also looking to secure more long-term supply from North America and emerging markets, said a company executive. 'As part of our strategic growth plans, Petronas is actively seeking to expand our LNG supply into high-demand markets in Asia, including China and Vietnam,' said Shamsairi Ibrahim, vice-president, LNG marketing and trading in an e-mail in response to questions from Reuters. 'These regions present significant opportunities due to their robust economic growth and increasing energy needs.' Apart from LNG, Shamsairi said Petronas is aiming to work with China on other lower-carbon energy solutions including renewable energy, hydrogen, green mobility, ammonia, carbon capture and storage and speciality chemicals. On supply, the Malaysian state energy firm also said that it is keen to secure more long-term deals to buy LNG to provide stability and reliability to its customers. 'Petronas is exploring opportunities with sellers from diverse regions, including North America and other emerging markets, to enhance our global supply network and meet the evolving needs of our customers,' added Shamsairi. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up 'We are in communication with several parties to explore mutually beneficial opportunities, including Commonwealth LNG.' Petronas has previously said that its supply from some US contracts could be sold in the spot market to Europe or Asia. Reuters reported last month that Petronas is in talks with Commonwealth LNG for one million tons per annum of the fuel from the US company's facility in Cameron, Louisiana. Commonwealth LNG said in early May it had signed a 20-year supply deal with a major Asian energy company, but did not name the buyer. Malaysia was the world's fifth largest LNG exporter in 2024, shipping out 28 million metric tonnes of the chilled fuel last year, according to Kpler data. REUTERS
New Straits Times
26-05-2025
- Business
- New Straits Times
Malaysia's Petronas aims for China, Vietnam expansion while seeking long-term LNG supply
BEIJING: Malaysia's Petroliam Nasional, or Petronas, aims to expand its liquefied natural gas sales into markets such as China and Vietnam while also looking to secure more long-term supply from North America and emerging markets, said a company executive. "As part of our strategic growth plans, Petronas is actively seeking to expand our LNG supply into high-demand markets in Asia, including China and Vietnam," said Shamsairi Ibrahim, vice president, LNG marketing and trading in an email in response to questions from Reuters. "These regions present significant opportunities due to their robust economic growth and increasing energy needs." Apart from LNG, Shamsairi said Petronas is aiming to work with China on other lower-carbon energy solutions including renewable energy, hydrogen, green mobility, ammonia, carbon capture and storage and specialty chemicals. On supply, the Malaysian state energy firm also said it is keen to secure more long-term deals to buy LNG to provide stability and reliability to its customers. "Petronas is exploring opportunities with sellers from diverse regions, including North America and other emerging markets, to enhance our global supply network and meet the evolving needs of our customers," added Shamsairi. "We are in communication with several parties to explore mutually beneficial opportunities, including Commonwealth LNG." Petronas has previously said that its supply from some U.S. contracts could be sold in the spot market to Europe or Asia. Reuters reported last month that Petronas is in talks with Commonwealth LNG for 1 million tons per annum of the fuel from the U.S. company's facility in Cameron, Louisiana. Commonwealth LNG said in early May it had signed a 20-year supply deal with a major Asian energy company, but did not name the buyer. Malaysia was the world's fifth largest LNG exporter in 2024, shipping out 27.98 million metric tons of the chilled fuel last year, according to Kpler data.
American Press
21-05-2025
- Business
- American Press
Louisiana delegation urge swift consideration of Cameron LNG project
Commonwealth LNG is a LNG liquefaction and export facility located on the west bank of the Calcasieu Ship Channel at the mouth of the Gulf of Mexico near Cameron. The facility will have six 50,000 M3 modular storage tanks and will be able to accommodate vessels up to 216,000 M3. (Special to the American Press) Special to the American Press U.S. Sen. John Kennedy, a member of the Senate Appropriations Committee, today joined Speaker Mike Johnson, House Majority Leader Steve Scalise U.S. Sen. Bill Cassidy and Reps. Clay Higgins and Julia Letlow — all Louisiana Republicans — in sending a letter to Federal Energy Regulatory Commission chairman Mark Christie in support of the Commonwealth liquefied natural gas project in Cameron Parish. The lawmakers urged FERC to quickly consider the project at the commission's June 2025 meeting. 'We write in support of the Commonwealth LNG project in Cameron Parish, Louisiana, and urge swift consideration of Commonwealth's application before the Federal Energy Regulatory Commission. Specifically, we ask you to add this matter to the June 2025 docket so that this project can move forward as soon as possible,' the Louisiana delegation began. 'Commonwealth LNG's terminal is an important project that will contribute to American energy dominance due to its capacity to process up to 9.5 million tonnes per year of LNG upon project completion. Furthermore, the Commonwealth project represents a direct investment of $4.5 billion in Louisiana, and construction of the terminal will generate 2,000 jobs during peak construction and maintain 200 jobs during regular operations,' they continued. 'Current predictions estimate global LNG demand to increase 60% by 2040, and Commonwealth LNG will support global energy security by supplying American-produced LNG to meet that increasing demand. Meeting global energy demands will reduce global reliance on LNG produced by our adversaries. Upholding Commonwealth LNG's authorization for the Cameron Parish project is crucial to broaden American presence in the global LNG market and ensure national security,'the lawmakers added. 'For these reasons, we urge you to move forward as quickly as possible to uphold the project's authorization during FERC's June 2025 Commission Meeting,' they concluded.
Reuters
16-05-2025
- Business
- Reuters
US LNG exporters push forward new projects despite trade war uncertainty
HOUSTON, May 16 (Reuters) - Woodside Energy's ( opens new tab decision last month to proceed with its Louisiana LNG export facility was the first of over 90 million tonnes of new LNG shipping capacity U.S. companies plan to approve this year despite uncertainty about President Donald Trump's trade war, according to company statements and analysts. The U.S., already the world's largest exporter of the superchilled gas with 91.3 million tonnes of annual capacity, should triple that before 2030 thanks to projects awaiting final investment decisions. Those come on top of 95.7 mtpa under construction, according to an April note to clients from Poten and Partners. Trump has said he wants to vastly expand U.S. energy production and exports, and his administration has lifted a freeze on new LNG export permits, declaring an energy emergency. The trade war has complicated construction of new plants, analysts and developers said, especially Trump's 25% tariffs on steel and aluminum which are heavily used at LNG facilities. Some worry this might ultimately raise prices for U.S. LNG exports, making customers look for cheaper alternatives. Still, at least seven proposed U.S. LNG projects are in various stages of development, with owners saying they intend to make a final investment decision in 2025, according the Reuters survey of recent earnings reports and analyst calls. Five of the seven are expansions of existing facilities. The other two are on green field sites without existing infrastructure like port facilities: Energy Transfer's (ET.N), opens new tab 16.5 mtpa LNG plant at Lake Charles and Commonwealth LNG's proposed 9.5 mtpa facility at Cameron, both in Louisiana. Among companies expected to soon approve construction of additional export facilities are the two largest U.S. LNG exporters, Cheniere Energy (LNG.N), opens new tab and Venture Global (VG.N), opens new tab. Cheniere is on track to approve this year its 5 MTPA expansion of its Corpus Christi, Texas plant, called mid-scale 8 and 9, the company's CEO Jack Fusco said last Friday during its earnings call. The Federal Energy Regulatory Commission issued a "permit on mid-scale Trains 8 and 9, one of the key remaining steps ahead of an expected FID later this year," Fusco said. FID stands for final investment decision. Venture Global (VG.N), opens new tab aims to approve the 28 MTPA CP2 project in Louisiana, the largest single LNG plant in the U.S., in the "middle of this year", its CEO Mike Sabel said at an earnings call on Tuesday. Last week, the company said it received the final supplemental environmental study on its CP2 plant. It also has its non-FTA export permit, allowing it to export to a broad range of markets. "An essential permit ahead of our FID for phase one of the project, which is anticipated for the middle of this year," Sabel told the earnings call. Commonwealth LNG, Port Arthur LNG and Next Decade announced several long-term supply deals in 2025, building commercial momentum toward final investment decisions they promise will come this year. Venture Global's Sabel said increased steel, aluminum and other tariffs could raise the cost for CP2 by about 1%. Sempra aims to make a final investment decision (FID) this year on phase 2 of its Port Arthur facility but will exercise patience to lock in favorable long-term economics, said Jeffrey Martin, Sempra's (SRE.N), opens new tab CEO. "Uncertainty in the macroeconomic environment may affect the timing of product development," he said. Since 2021, almost all U.S. LNG projects under construction have faced price escalation or cost overruns due to supply chain disruptions, labor shortages, high borrowing costs and other factors. Woodside's Louisiana LNG project price jumped by 31%, Next Decade's Rio Grande facility increased by 29% and Port Arthur Phase 1 by 18% from the original pre-FID figures, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group. He noted those increases hit largely before Trump imposed tariffs on steel and aluminum. Even if the White House totally cancels country-specific reciprocal tariffs, those 25% tariffs on steel and aluminum and the 10% blanket levy remain in place putting pressure on LNG construction costs, Munton said. Cheniere has promised to maintain capital discipline and will ensure it sells over 90% of its capacity before FID, said the company's Chief Commercial Office Anatol Feyin. Woodside, in contrast, said it gave the financial go ahead for its Louisiana LNG terminal with long-term sale contracts for only 1 MTPA in place. "We saw the first FID in two years here. And very little commercial activity to underpin that," Feyin told the earnings call. "We're not changing our stripes. We'll stay disciplined." On Wednesday, Woodside announced it entered into a non-binding agreement with Saudi Aramco that could lead to the Saudis taking a stake in the Louisiana project Either way, U.S. LNG projects remain attractive, said Ira Joseph, an LNG market expert and senior researcher at Columbia University's Center on Global Energy Policy. "Clearly not having customers is not impeding potential financing for these projects in a way it used to," Joseph said. Below is a list of U.S. projects awaiting FIDs:
