Natural Gas News – May 4, 2018

By Published On: May 4, 2018Categories: Daily Natural Gas Newsletter

Natural Gas News – May 4, 2018

Exxon Pushes Ahead with Rosneft LNG Project Despite Sanctions: Sources

Reuters reported: Exxon Mobil (XOM.N) is pushing ahead with efforts to develop its $15 billion Far East Liquefied Natural Gas (LNG) project with Russia’s Rosneft (ROSN.MM) despite being forced to exit some joint ventures due to Western sanctions. Two months ago Exxon invited companies including China National Petroleum Corporation’s [CNPET.UL] engineering arm to bid for construction contracts by October, sources with knowledge of the matter said. A final investment decision is due in 2019, they said. The project is being jointly developed with Rosneft using gas from the Sakhalin-1 venture which will be chilled into liquid to underpin the LNG plant’s initial annual output target of 6 million tonnes. Western sanctions forced Exxon to exit some joint ventures with Rosneft in late February, but LNG is not part of the sanctions. The Russian company said the move would not affect the Sakhalin-1 oil and gas production-sharing JV struck in the mid-1990s.

PSC Fines Flemingsburg for Natural Gas Safety Violations

Lex 18 reported: The Kentucky Public Service Commission (PSC) has fined the city of Flemingsburg $60,000 for safety violations that led to an explosion during repairs to a leaking natural gas line. In an order issued today, the PSC levied the $60,000 civil penalty but suspended $30,000 of the fine, subject to Flemingsburg providing additional training to employees of the city’s utility system. The explosion occurred on January 29, 2016, as employees attempted to repair a leaking natural gas line in Mays Lick, which is in Mason County but is served by Flemingsburg, which is in Fleming County. After excavating the line to locate the leak, the Flemingsburg crew attempted a temporary repair.

This article is part of Daily Natural Gas Newsletter


Subscribe to our Daily Feed

Daily articles and insights from the fuel markets and natural gas space.


The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

Stay on Top of the Fuel Markets

FUELSNews, your daily source of marketing information and insights

Subscribe to our publications and newsletters