ENEL SIGNS U.S. LNG
The Enel Group has signed with US-based Cheniere Energy two year contracts for the supply of LNG (Liquefied Natural Gas), originating from fields of American shale gas, for a total of 3 billion cubic meters per year, of which about 1 billion intended for the Italian market.
Both contracts were signed with the Corpus Christi Liquefaction, company 'subsidiary of Cheniere. Thanks to this agreement, said in a statement, Enel "ensures a greater diversity and flexibility 'in the supply of gas supply portfolio for the coming years." Under the first agreement, finalized last week, Cheniere will supply the 'about 2 billion cubic meters per year to the Enel Group, which will use' the raw material for the needs of the Spanish market.
The second agreement will ensure 'Enel an additional one billion cubic meters per year, destined for Italy. Both contracts have a duration of twenty years, with an option for another ten years, and the validity 'of the Agreement will commence' from the first supplies provided since 2018.
The gas will be 'delivered in the form of LNG and on FOB basis , then with full flexibility 'destination at the terminal in Corpus Christi, which Cheniere Energy is building on Fifth Bay on the Texas coast, in an area heavily interconnected with main pipelines in the country. From there ', the raw material will be' loaded directly onto tankers and transported to the Enel Group's LNG terminals for which the Group has. The terminal 'designed for a maximum of three LNG trains with a capacity' aggregate of 13.5 million tons per year (about 18 billion cubic meters of gas).
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.