Moody’s says LNG prices to remain capped beyond 2020

By LNG World News Ratings agency Moody’s expects global liquefied natural gas (LNG) prices to remain constrained beyond 2020 as a wave of fresh supply capacity comes online at a time when demand from the world’s largest importers is weakening. Strong LNG demand growth from China, India and new markets would not be enough to…

Report: OLT Offshore issues 20 LNG cargo tender

By LNG World News OLT Offshore LNG Toscana has reportedly issued a tender seeking 20 LNG cargoes for delivery between April and September. Citing trade sources, Reuters reports that two cargoes are scheduled for delivery in September, with three cargoes to be delivered in April and June each. The remaining portion would be delivered in…

Chevron starts work on Gorgon second development phase

By LNG World News Image courtesy of ChevronUS-based energy giant Chevron said work has begun on further development at the Gorgon LNG project on Barrow Island offshore Western Australia. “Future development phases at the Chevron-operated Gorgon project have always been anticipated to maintain gas supply,” Chevron spokesman told LNG World News in an emailed statement….

Rig impairments drag Ocean Rig deeper into red

By Offshore Energy Today.. Offshore deepwater drilling services provider Ocean Rig on Wednesday posted a massive, deeper net loss for the last quarter of 2016 due to rig impairments. The driller is still looking into possible restructuring of its debt. For the fourth quarter of 2016, the company on Wednesday reported a net loss of…

Leviathan gas field FID taken (Israel)

By Offshore Energy Today Israeli firm Delek Group has said that the Final Investment Decision has been made for the development of the giant gas field in the Mediterranean – the Leviathan. The company on Thursday said its subsidiaries Delek Drilling and Avner Exploration had taken the fid the development of Phase 1A in the…

Cairn reaches total depth at SNE’s fifth appraisal well

By Offshore Energy Today.. Cairn Energy has reached a total depth at the SNE-5 well off Senegal, which is the first of two firm wells planed to further evaluate the SNE oilfield. Cairn, the operator, started drilling the SNE-5 appraisal well in January. The well is located in the southern area of the SNE oil…