Commerce Dept. overrides objection to LNG plant
The Commerce Department has overridden Maryland's objection to a proposed liquefied natural gas terminal at Sparrows Point near Baltimore.
The department determined that the national interest served by the facility outweighs what it described as "limited adverse coastal effects."
Governor Martin O'Malley sharply criticized the decision, saying the project presents a homeland security and environmental threat.
Senator Barbara Mikulski pledged to search for legislative options to stop the project.
AES Corporation wants to build the LNG terminal at the former Bethlehem Steel shipyard, along with an 88-mile pipeline that would pump the gas to Pennsylvania. The Federal Energy Regulatory Commission has recommended conditional approval of the project and could make a final decision by the end of November.
Peru natgas project signs financing deal with IFC
June 26 (Reuters) - The World Bank's International Finance Corp on Thursday signed a $300 million financing agreement with Peru LNG to develop Latin America's first liquefied natural gas export project.
The loan by IFC, the World Bank's private-sector lender, is part of $2.25 billion in financing by international banks that were part of the signing.
Other lenders for the $3.8 billion project include the Inter-American Development Bank, the Export-Import Bank of the United States, Export-Import Bank of Korea, and SACE of Italy.
The project, which is expected to start up operations in 2010, is being developed by a consortium headed by US-based Hunt Oil and includes Spain's Repsol-YPF, South Korea's SK Energy, and Japan's Marubeni Corp.
Brazil, Venezuela To Sign LNG Supply Deal
The presidents of Brazil and Venezuela will sign a protocol of intention for Brazil to buy liquid natural gas from its Latin American neighbor, the local Estado news agency reported late Thursday.
According to the report, Brazilian President Luiz Inacio Lula da Silva and Venezuelan President Hugo Chavez will sign the deal.
The pact will cover future purchases of liquid natural gas by Brazilian state- run energy giant Petroleo Brasileiro (PBR) from Venezuela's state-owned Petroleos de Venezuela SA, or PdVSA. Natural gas will be shipped from Venezuela to two regasification plants in Brazil.
Gasification plants at Pecem in Ceara state and Baia da Guanabara in Rio de Janeiro state will process 20 million cubic meters of gas a day. The plants are expected to enter operation in the third quarter.
Shell Asks for Bids to Help Build a Floating LNG Unit
Royal Dutch Shell Plc, Europe's largest oil company, invited three companies to bid for the engineering and design of a floating liquefied natural gas facility.
Bids for the facility with an annual capacity of 3.5 million tons will be submitted around the end of the year and the first award is possible next year, The Hague-based Shell said in an e-mailed statement today. Shell is looking at the Asia-Pacific region for potential development, it said.
Shell, the largest non-government producer of LNG, said April 7 its Prelude discovery in the Browse Basin, about 400 kilometers (249 miles) off the Australian coast, may be one of the first fields to be developed using floating LNG technology.
Floating LNG is ``possibly the leading candidate'' for developing Prelude, Linda Cook, executive director gas and power at Shell, said at the Australian Petroleum Production & Exploration Association conference in Perth in April.
While the Basin holds several gas finds, none has been developed and construction of plants on the Kimberley coast region faces opposition from environmental groups.
The Commerce Department has overridden Maryland's objection to a proposed liquefied natural gas terminal at Sparrows Point near Baltimore.
The department determined that the national interest served by the facility outweighs what it described as "limited adverse coastal effects."
Governor Martin O'Malley sharply criticized the decision, saying the project presents a homeland security and environmental threat.
Senator Barbara Mikulski pledged to search for legislative options to stop the project.
AES Corporation wants to build the LNG terminal at the former Bethlehem Steel shipyard, along with an 88-mile pipeline that would pump the gas to Pennsylvania. The Federal Energy Regulatory Commission has recommended conditional approval of the project and could make a final decision by the end of November.
Peru natgas project signs financing deal with IFC
June 26 (Reuters) - The World Bank's International Finance Corp on Thursday signed a $300 million financing agreement with Peru LNG to develop Latin America's first liquefied natural gas export project.
The loan by IFC, the World Bank's private-sector lender, is part of $2.25 billion in financing by international banks that were part of the signing.
Other lenders for the $3.8 billion project include the Inter-American Development Bank, the Export-Import Bank of the United States, Export-Import Bank of Korea, and SACE of Italy.
The project, which is expected to start up operations in 2010, is being developed by a consortium headed by US-based Hunt Oil and includes Spain's Repsol-YPF, South Korea's SK Energy, and Japan's Marubeni Corp.
Brazil, Venezuela To Sign LNG Supply Deal
The presidents of Brazil and Venezuela will sign a protocol of intention for Brazil to buy liquid natural gas from its Latin American neighbor, the local Estado news agency reported late Thursday.
According to the report, Brazilian President Luiz Inacio Lula da Silva and Venezuelan President Hugo Chavez will sign the deal.
The pact will cover future purchases of liquid natural gas by Brazilian state- run energy giant Petroleo Brasileiro (PBR) from Venezuela's state-owned Petroleos de Venezuela SA, or PdVSA. Natural gas will be shipped from Venezuela to two regasification plants in Brazil.
Gasification plants at Pecem in Ceara state and Baia da Guanabara in Rio de Janeiro state will process 20 million cubic meters of gas a day. The plants are expected to enter operation in the third quarter.
Shell Asks for Bids to Help Build a Floating LNG Unit
Royal Dutch Shell Plc, Europe's largest oil company, invited three companies to bid for the engineering and design of a floating liquefied natural gas facility.
Bids for the facility with an annual capacity of 3.5 million tons will be submitted around the end of the year and the first award is possible next year, The Hague-based Shell said in an e-mailed statement today. Shell is looking at the Asia-Pacific region for potential development, it said.
Shell, the largest non-government producer of LNG, said April 7 its Prelude discovery in the Browse Basin, about 400 kilometers (249 miles) off the Australian coast, may be one of the first fields to be developed using floating LNG technology.
Floating LNG is ``possibly the leading candidate'' for developing Prelude, Linda Cook, executive director gas and power at Shell, said at the Australian Petroleum Production & Exploration Association conference in Perth in April.
While the Basin holds several gas finds, none has been developed and construction of plants on the Kimberley coast region faces opposition from environmental groups.
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