Gas

Global Energy Ventures secures CNG export deal

Australian compressed natural gas (CNG) developer Global Energy Ventures (GEV) has selected a site near New Orleans, Louisiana offshore Gulf of Mexico for the company’s development of a CNG export facility.

GEV has also executed a non-binding agreement with Kinetica Partners for potential firm transportation service of natural gas supply. Under the agreement, the parties have preliminarily agreed to the rates for transportation of up to 400 MMscf/d of firm natural gas supply over a term of 15 years.

According to GEV, its strategy has been to locate the site where all or most of the infrastructure is already in place so that GEV would simply need to add compression and facilities to load the CNG to the company’s CNG 200 Optimum ships.

GEV said it would continue to progress and seek to secure gas offtake customers for gas volumes between 50 and 400 MMscf/d, for up to a 15-year term and it believes such gas sales agreement would underpin the financing of the US CNG export facility.

Earlier this month, GEV entered into an agreement with Chinese yard CIMC Raffles to extend the letter of intent to build a series of CNG carriers to the end of this year.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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