Cheniere launches $500 million LNG contract with Korea

Korea Gas Corp. signed a 20-year supply agreement in January 2012 to buy liquefied natural gas from Cheniere Energy Inc.’s Sabine Pass export facility in Cameron Parish. On Sunday, the companies held a ceremony to mark the start of the deal at Sabine Pass.

Under the contract, Korea Gas, known as KOGAS, can buy 3.8 million tons of LNG each year — more than 10 percent of South Korea’s total demand — from Cheniere.

Cheniere is the United States’ only LNG exporter, so far, although a number of other facilities are in the works. The company has said it expects to load close to 200 LNG vessels with shipments this year, and its LNG has been delivered to 20 countries worldwide. The Korea Gas contract generate more than $500 million in revenue per year…

 

Click Here for Remainder of Article 




PLANO Awards Briggs with Meritorious Service Award

On June 19, 2017 Don Briggs, President of the Louisiana Oil and Gas Association, was  awarded the Meritorious Service Award in recognition of his many years of support to the Professional Landmen’s Association of New Orleans (PLANO).

“This award officially makes me a landman,” said Don Briggs, President of the Louisiana Oil and Gas Association. “I am honored to receive this award from PLANO and will continue to support landmen across this great state.”

PLANO was formed in 1953, and since then, they have worked to promote and advance the art and science of the profession of Petroleum Landmen.




‘Baby storm’ Cindy moves out

Local officials were hoping the worst was over Thursday evening after Cindy made landfall in the morning and weakened into a tropical depression.

In the afternoon, the National Weather Service reported the storm was about 45 miles south of Shreveport, moving at 10 mph.

By Thursday, Cindy had dumped 5.68 inches of rain on Houma and 2.43 inches on Thibodaux, according to Accuweather…

Click Here For Remainder of Article 




St. James residents, environmental groups sue over Bayou Bridge permit

Residents living near the proposed Bayou Bridge Pipeline’s end point in St. James have joined environmental groups to sue over a state permit authorized for the project.

The suit alleges the Department of Natural Resources’ Office of Coastal Management “violated the Louisiana Constitution and its own Guidelines” by issuing the permit through “the sensitive Coastal Zone of Louisiana.”

According to the suit

 

Click Here For Remainder of Article 




Tropical storm in Louisiana: Here’s what forecasters say to expect in south Louisiana

  • Projected rainfall through Friday morning depends on the area. Totals are estimated to be 4-10 inches in the New Orleans area. In the Baton Rouge area, anywhere from 2-6 inches is expected.
  • Because of anticipated heavy rain, a flash flood warning is in effect for all of southwest Louisiana until 7 p.m. Thursday.
  • Storm tide levels of 2 to 4 foot are possible.
  • Outer bands of Cindy is likely to track through saturated areas along the Central Gulf Coast, including the Baton Rouge and New Orleans areas, with “training highly efficient rain producing cells leading to likely flash flooding,” the National Weather Service said in a Wednesday afternoon statement…

 

Click Here For Remainder of Article 




With a number of massive projects in the works and a new lobby group, the liquefied natural gas industry is on the verge a major breakout in Louisiana

Liquefied natural gas plants aren’t built overnight, so long-range economic forecasts—rather than today’s supply and demand—play a much bigger role in an owners’ investment decisions. And while a global overabundance of natural gas and cheap oil is dampening current LNG export expectations, many owners remain bullish on Louisiana continuing its trajectory toward becoming a major hub by 2020.

In fact, with more than $88 billion in LNG projects planned, under construction or in operation, the state is poised to become the center of the LNG universe.

Regardless of short-term market variables, Jason French, chairman of the Louisiana Energy Exports Association, says satisfying long-term demand requires “a major LNG facility to be built somewhere in the world every year between now and 2035″…

Click Here For Remainder of Article 




LSU experts: Louisiana’s energy manufacturing, refining sectors will remain strong in the coming years

A new report says by 2020 Louisiana’s oil and gas industry will recover about half the 17,000 jobs lost during the recent downturn, while energy manufacturing and refining sectors will remain strong.

Of course, this will be a function of prices, according to the 2017 Gulf Coast Energy Outlook by the LSU Center for Energy Studies.

The latest bust in the oil patch began after a boom faltered during the second half of 2014. After trading at more than $100 a barrel, crude prices eventually bottomed in early 2016 at less than $30 a barrel…

 

Click Here For Remainder of Article 




Tropical storm in Louisiana: Here’s what forecasters say to expect in south Louisiana

A tropical storm warning has been issued for all of the Louisiana coast, with Tropical Storm Cindyforecast to make landfall sometime early Thursday.

  • Projected rainfall through Friday morning depends on the area. Totals are estimated to be 4-10 inches in the New Orleans area. In the Baton Rouge area, anywhere from 2-6 inches is expected.
  • Because of anticipated heavy rain, a flash flood warning is in effect for all of southwest Louisiana until 7 p.m. Thursday.
  • Storm tide levels of 2 to 4 foot are possible.
  • Heavy winds should reach the coast Tuesday morning, with a good chance of sustained winds of 39-plus mph in coastal areas.

 

Click Here For Remainder of Article 




LOGA’s Don Briggs to take on LAGCOE Looey role

Louisiana Oil & Gas Association President Don Briggs will serve as LAGCOE Looey for the biennial three-day trade show — Louisiana’s largest — scheduled for Oct. 24-26 at the Cajundome.

LAGCOE made the announcement in an issued statement Monday.

The Miami, Florida native founded LOGA in 1992. The Baton Rouge-based organization has grown to include more than 1,300 members, representing the interests of independent exploration and production and service industry…

 

Click Here For Remainder of Article 




State legislators have gone home, but they will be back; here’s why

State legislators finally departed Baton Rouge on Friday.

But they will be back – sooner than expected.

Lawmakers went home on Friday after passing a state budget on the ninth day of the special session, after being roundly criticized for failing to reach agreement on it during the two months of regular session…

 

Click Here for Remainder of Article