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2014-03-20 08:03:00

MARUBENI AGREE

MARUBENI AGREE

WO. Marubeni has reached agreement wi th GDF SUEZ on participation in the offshore LNG receiving terminal project in Uruguay for providing the LNG receiving, storage and regasification service project which GDF SUEZ, through its affiliate International Power (Belgium , IPSA ) has been developing, and has executed the Shareholders Agreement. Through the company (Holding Company) incorporated in Spai n by Marubeni and IPSA on a 50/50 basis , Marubeni and IPSA participate in GNLS incorporated in Uruguay as a wholly -owned subsidiary of the Holding Company. This project consists of the construction of one of the world’s largest Floating Storage and Regasification Units (FSRU) about 2km offshore in the LaPlata River near Montevideo and providing the LNG receiving, storage and regasification service for a period of 15 years from the commencement of commercial operation of the said FSRU. The Terminal Usage Agreement was executed on October 1, 2013 between GNLS and Gas Sayago created by National Administration of Power Generation (UTE) and Transmission and National Administration of Fuels , Alcohol and Portland Cement (ANCAP) on a 50/50 basis. It is scheduled to commence commercial operation of the initial phase in July 2015.

This is the first offshore LNG receiving terminal project in Uruguay and is also the first time in the world for not only Marubeni but also Japanese com panies to participate in a project of this kind. Beginning with this Project, Marubeni aims for global expansion in the business area of offshore LNG receiving terminal projects in the future.

Tags: MARUBRNI, URUGUAY, LNG

Chronicle:

MARUBENI AGREE
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

MARUBENI AGREE
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

MARUBENI AGREE
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

MARUBENI AGREE
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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