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).
|November, 17, 19:55:00|
|November, 17, 19:50:00|
|November, 17, 19:45:00|
|November, 17, 19:40:00|
|November, 17, 19:35:00|
|November, 17, 19:30:00|
REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.