GLG News by LNG Experts

Hurricane Ike has seriously damaged the four LNG storage tanks of Exxon's receiving terminal at Golden Pass in southeast Texas near the Louisiana border.  The terminal was scheduled for operation in early 2009 with a sendout capacity of 2 bcfd, about 3% of US NG consumption.  The terminal...

Rigzone News on December 12 cited a Dow Jones Newswire report by Doug Cameron and Isabel Ordonez reporting on a speech by Rex Tillerson. The venue was a Chicago presentation by the CEO of Exxon Mobil (XOM). He suggested that the president-elect adopt a realistic long-term energy policy. Mr. Tillerson...

The recent upwards movement in the BCI is more a reflection of the market conditions that have persisted for the last two months and an upwards correction to reflect actual fundamentals.

Per the cited Chemicalweek article Praxair has experienced in the fourth quarter substantial demand drop in volumes of industrial gases and additional plant closing of customers in December will further reduce demand. Independently, AirProducts foresaw early October downturn in semiconductor foundry...

Jude Clemente at San Diego University reported in the December 15 issue of the Oil & Gas Journal that the irreversible decline of Mexico’s Cantarell field puts Mexican oil production levels at risk. Most analysts focus on what the drop-off menfor the U.S. which gets 16% of its imports from Mexico....

The $129M single lawsuit against Fortescue is the tip of the iceberg.  Many of the new entrants drawn into shipping during the bull market are going to get an unpleasant education in the vagaries of maritime law.

European truck sales were a bright spot in the global truck sales marketplace over the last year or so, but will lag any upswing we will see in the North American market due to a variety of reasons.  Manufacturers Worldwide are laying off workers, as noted in previous articles.

Demand for ships and pressure on rates Arbitrage (contango) opportunities

OceanFreight certainly won't be the last company to suspend dividend payments, and it was a prudent move, but renegotiating charters was a poor decision.

John Vautrain, vice president of Purvin & Gertz in Singapore reported that Asian refining capacity continues to grow despite a poor global economic outlook. The lengthy article appeared in the December 15 issue of the Oil & Gas Journal. Purvin & Gertz is a chemical engineering consulting...