A U.S. subsidiary of Moscow-based OAO Gazprom, the world’s largest gas producer, won federal approval today to import liquefied natural gas into the U.S. Mid-Atlantic region.
The Federal Energy Regulatory Commission voted in favor of a deal between Gazprom Marketing & Trading USA Inc. and a U.S. affiliate of Oslo-based Statoil ASA to import the gas through Dominion Resources Inc.’s LNG terminal in Cove Point, Maryland. As much as 200 million cubic feet of gas a day would be imported under the Dec. 1 deal.
Feb 19, 2010
Surat LNG pipeline
The State Government has approved the first licence for a gas pipeline from the Surat Basin to Gladstone in central Queensland.
Arrow Energy is planning to build an LNG facility on Curtis Island near Gladstone and hopes to start exporting in 2012.
The Government has approved a 470 km pipeline from Dalby which will cost about $550 million.
Arrow Energy spokesman Gareth Quinn says the company is also planning to build a pipeline from Moranbah to Gladstone.
Arrow Energy is planning to build an LNG facility on Curtis Island near Gladstone and hopes to start exporting in 2012.
The Government has approved a 470 km pipeline from Dalby which will cost about $550 million.
Arrow Energy spokesman Gareth Quinn says the company is also planning to build a pipeline from Moranbah to Gladstone.
Feb 17, 2010
Arrow Energy to acquire Gladstone LNG
Liquefied Natural Gas Limited (LNG) has executed a conditional heads of agreement with Arrow Energy Limited to sell the entire Fisherman's Landing liquefied natural gas project (Gladstone LNG Project) through the sale of LNG's 100% owned subsidiary Gladstone LNG Pty., Ltd. for a combination of cash, milestone payments, royalties and Arrow options. The total transaction is valued at approximately AUD45 million ($39.4 million). All the companies are based in Australia.
Arrow Energy is an integrated energy company focused on the development of coal seam gas. LNG is engaged in the production and sale of liquefied natural gas in Australia.
The consideration will consist of $10 million licensing fee for Arrow's use of LNG's OSMR(R) technology for the first LNG train, with $5 million to be paid by Arrow to LNG Ltd by February 28, 2010 and a further $5 million payable at notice of readiness to proceed to construction of the first LNG train. An additional $10 million license fee is payable for each additional LNG train developed at the project site using the OSMR(R) technology.
Deal Value (US$ Million) 39.4
Deal Type Acquisition
Sub-Category 100% Acquisition
Deal Status Announced: 2010-02-11
Deal Participants
Target (Company) Gladstone LNG Pty., Ltd.
Acquirer (Company) Arrow Energy Limited
Vendor (Company) Liquefied Natural Gas Limited
Arrow Energy is an integrated energy company focused on the development of coal seam gas. LNG is engaged in the production and sale of liquefied natural gas in Australia.
The consideration will consist of $10 million licensing fee for Arrow's use of LNG's OSMR(R) technology for the first LNG train, with $5 million to be paid by Arrow to LNG Ltd by February 28, 2010 and a further $5 million payable at notice of readiness to proceed to construction of the first LNG train. An additional $10 million license fee is payable for each additional LNG train developed at the project site using the OSMR(R) technology.
Deal Value (US$ Million) 39.4
Deal Type Acquisition
Sub-Category 100% Acquisition
Deal Status Announced: 2010-02-11
Deal Participants
Target (Company) Gladstone LNG Pty., Ltd.
Acquirer (Company) Arrow Energy Limited
Vendor (Company) Liquefied Natural Gas Limited
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