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Project finance from international banks is growing significantly tighter, requiring developers to put more equity into projects at a time when equity markets have softened. The American Stock Exchange index of leading oil producers is down 45% from five months ago. Meanwhile, oil prices have slumped 40% since July’s high.

Some $426 billion will be required for upstream natural gas development, LNG projects, and other gas-related industries in the Middle East over the next 25 years, according to a report published by the 10-nation Organization of Arab Petroleum Exporting Countries (OAPEC). Fortunately for LNG markets, supplies are expected to jump during the next 15 months as eleven new trains come online, seven of which are being built in Qatar and Yemen. More...

1) Croatia Definitively Chooses Krk as the Site for Adria LNG

Austria-based OMV announced on October 1 that Croatia confirmed the Island of Krk as the location for the proposed Adria LNG terminal. Construction is now planned to begin by the end of 2009.More...

1) Crown Landing Shelved by BP

BP announced on October 8 that it has shelved plans for its proposed Crown Landing LNG terminal offshore New Jersey. More...

1) Qatargas, Nakilat Receive Delivery of World’s Largest LNG Carrier

On September 30, Qatargas and Nakilat took delivery of the Mozah, currently the world’s largest LNG carrier, which has a capacity of 250,000 cubic meters. The world’s first Q-Max vessel will be used to ship LNG produced by Qatargas 2 to customers in Europe.More...

1) GAIL Sees Progress in Ratnagiri LNG Terminal Construction

On September 26, GAIL of India released conclusions from its third annual general meeting, which highlighted progress at its Ratnagiri LNG terminal in southwestern India. The company noted that construction of both the marine and non-marine infrastructure was still ongoing but that pre-commissioning activities of several systems had already commenced.More...

1) Inpex, Total to Site $20 Billion Ichthys LNG Plant at Darwin

Japan’s Inpex announced on September 26 that the $20 billion Ichthys LNG project will be constructed at the industrial site at Blaydin Point, on Middle Arm Peninsula, near Darwin, Australia. More...

1) Keppel Shipyard Wins Conversion Project for Golar Winter

Keppel Shipyards announced on October 2 that it had won the contract to convert the Golar Winter, a membrane LNG carrier, into an FSRU for Petrobras. The company recently completed another conversion for Petrobras, the conversion of the Golar Spirit for use at Pecém LNG. More...

1) Nigeria to Halt LNG Projects by Foreign Firms?

The gas minister for Nigeria, Emmanuel Odusina, intimated on September 26 that the country may shelve all LNG ventures unless the projects increase gas supplies to domestic markets, according to a report by Bloomberg.More...