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Freeport LNG seeks extension to build 4th liquefaction train at Texas plant

Tue, 17th May 2022 16:20

May 17 (Reuters) - U.S. liquefied natural gas company Freeport LNG has asked federal regulators to extend the amount of time it has to construct a fourth liquefaction train at its export plant in Texas until August 2028.

The U.S. Federal Energy Regulatory Commission (FERC) approved construction of the fourth train in May 2019, requiring Freeport to finish the train by May 2023, the company said in a filing on Monday.

In September 2020, FERC extended the time Freeport had to build the fourth train until May 2026.

Freeport, however, said it has not started to build Train 4 "due in large part to delays" stemming from the COVID-19 pandemic.

"The impact of the pandemic on the global community has now waned substantially, and global demand for U.S. LNG has rebounded and is projected to remain strong," Freeport said.

The company said it is "actively marketing Train 4 Project capacity to a number of potential off-takers, particularly in European markets, and is in active negotiations with several potential customers."

Freeport also said it is participating in the U.S.-European Commission energy security task force recently announced by U.S. President Joe Biden to assist in getting LNG supplies into Europe.

The United States has committed to supply LNG to Europe to help Washington's allies lessen their reliance on Russian energy following Moscow's invasion of Ukraine.

But since it would take about 48 to 56 months to build Train 4, Freeport said "it is not possible" to meet the current May 2026 in-service deadline.

The three operating trains at Freeport can turn about 2.1 billion cubic feet per day of natural gas into LNG.

Freeport's customers include units of Osaka Gas Co Ltd , JERA, BP Plc, Total SA and SK E&S. JERA is an alliance between Tokyo Electric Power Co Holdings Inc and Chubu Electric Power Co Inc.

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20 Dec 2023 17:00

Sustainable Finance Newsletter - This time it's different for US SEC climate rules

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20 Dec 2023 15:36

Shipping container price surge to reverse due to overcapacity -logistics platform

MUMBAI, Dec 20 (Reuters) - Higher prices for containers used by merchant ships caused by attacks on Red Sea shipping are likely to fall back in three to nine months to levels seen in early December due to market overcapacity, the head of an online container logistics platform said on Wednesday.

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20 Dec 2023 15:05

London close: Stocks rise as UK inflation slows further

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19 Dec 2023 20:11

Norwegian Johan Sverdrup crude prices soar on Red Sea shipping issues

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19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

Crisis is spillover from Israel-Hamas war

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19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

Dec 19 (Reuters) - A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

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19 Dec 2023 17:01

LONDON MARKET CLOSE: Stocks close higher ahead of UK inflation data

(Alliance News) - Stock prices in Europe closed higher on Tuesday, after data confirmed that the eurozone is inching closer towards its 2% inflation targets.

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19 Dec 2023 15:02

London close: Stocks manage gains amid holiday slowdown

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19 Dec 2023 13:18

UK warns of deteriorating security in Red Sea, Royal Navy ship joins taskforce

LONDON, Dec 19 (Reuters) - Britain warned that the security situation in the Red Sea was deteriorating and ballistic missile and drone attacks were an increased threat, as it agreed for a Royal Navy Destroyer to join a U.S.-led operation to safeguard commerce in the region.

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19 Dec 2023 11:49

LONDON MARKET MIDDAY: FTSE 100 flat; Eurozone inflation cools to 2.4%

(Alliance News) - Stock prices in London were mixed at midday Tuesday, despite news that the eurozone's inflation is edging closer to its 2% target.

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19 Dec 2023 08:47

LONDON MARKET OPEN: Stocks rise as investors pin hopes on US rate cuts

(Alliance News) - Stock prices in London opened higher on Tuesday, with sentiment still buoyed by expectations of rate cuts in the US.

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18 Dec 2023 18:18

Red Sea attacks force rerouting of vessels, disrupting supply chains

Houthis launched series of attacks, latest on Monday

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18 Dec 2023 17:40

Europe Gasoline/Naphtha-Margins slip as Red Sea attacks push oil higher

LONDON, Dec 18 (Reuters) - Northwest European gasoline refining slipped by about $1 to $8.6 a barrel as underlying crude prices rose 3% on mounting attacks on ships in the Red Sea.

Trades   Bids     Offers   Prev.    Sellers  Buyers
(vol.) Trades
Ebob $727.50
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob $728
Barges
E10
Platts(fo
b ARA)
Ebob $735.50 Varo, Trafigu
Barges (4KT) Glencor ra
Argus e
E5(fob
AR)
Ebob $727 Shell, Varo,
Barges 11KT Exxon Totsa
E10 Argus
(fob AR)
Jan. swap $741.25 $725.25
fob ARA
Premium
Unleaded
(fob ARA)
<PU-10PP-
ARA>
Cargoes
(fob MED)
Cargoes
(cif NWE)
Naphtha Jan
(cif NWE) +$14
<NAF-C-NW
E>

Ebob crack (per barrel) $8.6 Prev. $9.7
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ahmad Ghaddar; Editing by Mark Porter)

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18 Dec 2023 16:55

LONDON MARKET CLOSE: FTSE 100 outperforms European peers

(Alliance News) - Stock prices in London closed higher on Monday, after investors shrugged off hawkish comments from US Federal Reserve officials amid festive cheer.

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