sections

Saturday, 20 April 2019

  • You are here:Home
  • Sectors

Gas infrastructure in Nigeria

Nigerian gas IPPs return to market

PFI Issue 646 - April 10, 2019

Denham Capital is set to revive the Nigerian IPP market with a new deal. More gas-fired projects are waiting in the wings. By Peter Collins

Wheelabrator UK to be sold

PFI Issue 646 - April 10, 2019

US waste project developer Wheelabrator, taken over by Macquarie Infrastructure Real Assets (MIRA) in February, is to sell its three UK plants after they come on line this year. The sale will allow the UK arm to become a standalone waste-to-energy (WtE) company with a platform for future growth.

Engie wins TAG auction with debt financing

PFI Issue 646 - April 10, 2019

French company Engie has won the auction for state-run oil company Petrobras’ gas pipeline operator TAG, which accounts for 47% of Brazil’s entire gas infrastructure.

REUTERS/Hannibal Hanschke - Uzbekistan’s President Shavkat Mirziyoyev attends a news conference at the Chancellery in Berlin, Germany

Uzbekistan is trending at #Oil&Gas

PFI Issue 646 - April 10, 2019

Uzbekistan has a long history and rich culture as a nation actively involved in global commerce and trade. For centuries, the country was at the very heart of the Silk Road connecting East and West. Today, the country once again sits at the crossroads of the One Belt One Road initiative. By Jason Kerr, Kamilla Azamat and Kamran Ahmad, White & Case.

SPV lands CCGT and LNG financing

PFI Issue 646 - April 10, 2019

Special purpose vehicle UTE GNA I Geração de Energia has closed a roughly US$763m non-recourse financing backing a 1,298MW gas-fired combined-cycle power project for the Açu Port in São João da Barra, in the northern part of Rio de Janeiro state.

PJM files reserve pricing reforms

PFI Issue 646 - April 10, 2019

PJM Interconnection has filed energy and reserve market reforms with the Federal Energy Regulatory Commission (FERC) that aim to provide fair value for energy reserve pricing.

Carlyle closes acquisition and financing

PFI Issue 646 - April 10, 2019

Carlyle Group, through its Revere Power unit, has closed the purchase and acquisition financing of a troika of gas-fired projects in New England from Emera.

TVA issues 200MW renewables RFP

PFI Issue 646 - April 10, 2019

Tennessee Valley Authority (TVA) has issued a request for proposals (RFP) for a developer of 200MW of renewable energy that can be brought online by the end of 2022.

CPPIB backs Aqua America acquisition of Peoples

PFI Issue 646 - April 10, 2019

Canada Pension Plan Investment Board (CPPIB) has made a US$750m investment in US-based water and waste-water utility Aqua America that will help Aqua finance the acquisition of Peoples Natural Gas from SteelRiver Infrastructure Partners.

NextDecade signs Shell LNG linked to Brent

PFI Issue 646 - April 10, 2019

NextDecade has signed the country’s first long-term contract for liquefied natural gas (LNG) produced in the US to be indexed to Brent oil prices.

Energy Transfer and Shell on Lake Charles LNG

PFI Issue 646 - April 10, 2019

Energy Transfer has signed a project framework agreement (PFA) with Shell to accelerate development of an LNG export facility in Lake Charles, Louisiana.

Ecolomondo closes EDC loan on decomp facility

PFI Issue 646 - April 10, 2019

Ecolomondo Environmental has closed a C$32.1m (US$24m) project financing with Export Development Canada (EDC) to back a thermal decomposition facility in Hawkesbury, Ontario.

Total agrees to Driftwood LNG investment

PFI Issue 646 - April 10, 2019

Total has agreed to invest in Tellurian’s Driftwood Holdings under a non-bonding heads of agreement (HOA). Total plans to offtake 2.5m tonnes per annum (mtpa) of LNG from the project.

CATS to be refinanced

PFI Issue 646 - April 10, 2019

Antin Infrastructure Partners is to refinance the debt on its Central Area Transmission System (CATS) gas pipeline, having repaid the previous loan in late March. RBC is leading the new deal.

CGN to sign Romanian nuclear deal

PFI Issue 646 - April 10, 2019

Romania’s Ministry of Energy has request the streamlining of approval for Chinese investor involvement in the expansion of the Cernavoda nuclear plant.

LNG supply agreed for Arctic 2

PFI Issue 646 - April 10, 2019

Novatek Gas & Power has signed non-binding heads of agreement (HoA) with Spain’s Repsol to conclude a 15-year contract for the yearly supply of 1m tonnes of LNG from the Arctic 2 LNG project and others.

Asterion finances energy metering acquisition

PFI Issue 646 - April 10, 2019

Asterion Industrial Partners, an investment firm founded by former KKR infrastructure head Jesus Olmos, has closed its first deal, the acquisition of French energy and metering company Proxiserve.

Bidders withdraw from Hellenic Petroleum sale

PFI Issue 646 - April 10, 2019

Greek privatisation fund HRADF has failed to obtain binding offers for a majority stake in Hellenic Petroleum.

Carlyle buys Cepsa stake

PFI Issue 646 - April 10, 2019

US private equity firm Carlyle Group has bought a stake of between 30% and 40% in Spanish oil and gas company Cepsa from Abu Dhabi’s Mubadala.

Brookfield to sell Tas Gas

PFI Issue 646 - April 10, 2019

Brookfield Infrastructure Partners is reported to have hired Citigroup to sell Tas Gas Networks, a natural gas distribution and retailing company in Tasmania.

AusGrid syndicates refinancing loan

PFI Issue 646 - April 10, 2019

New South Wales poles and wires company AusGrid has begun syndication of a A$900m (US$641m) three-year loan as part of a refinancing, LPC reported.

Meralco Marubeni signs New Clark City JV

PFI Issue 646 - April 10, 2019

Meralco Marubeni Corp, a consortium comprising Manila Electric (60%), Marubeni (20%), Kansai Electric Power (10%) and Chubu Electric Power (10%), has signed a joint venture agreement with Bases Conversion & Development Authority (BCDA) for the power distribution project in New Clark City.

Shell seeks Malampaya extension

PFI Issue 646 - April 10, 2019

Shell Philippines Exploration (SPEx) is seeking a six-year extension of Service Contract 38, the Malampaya natural gas field, to explore other areas in northwest Palawan. Shell’s current contract will expire in 2024.

Vung Ang 2 CFPP to go ultra-supercritical

PFI Issue 646 - April 10, 2019

OneEnergy Asia will be changing the technology it will apply to its US$2.2bn Vung Ang 2 coal-fired power plant in the Ha Tinh province of Vietnam.

Govt to launch transmission auction

PFI Issue 646 - April 10, 2019

The Indian government is reported by Reuters to be launching a A$5bn project to provide more transmission lines. The project will begin in phases in June.

Masela LNG delayed on project cost

PFI Issue 646 - April 10, 2019

Inpex’s Masela liquefied natural gas terminal project continues to be delayed by talks over the cost. The Indonesian government and Inpex Corporation have yet to reach agreement on the cost of the LNG plant as their respective estimates have been different.

Nebras Power staying in Paiton

PFI Issue 646 - April 10, 2019

Nebras Power is keeping its 35.5% stake in Paiton Energy, rejecting speculation that the Qatari energy company was considering selling its interest.

Sponsors sign Papua LNG deal with govt

PFI Issue 646 - April 10, 2019

Total SA, operator of the Papua LNG Project, ExxonMobil and Oil Search have signed a gas agreement with the Papua New Guinea government defining the fiscal framework for the Papua LNG Project.

Pelindo III plans LNG terminal

PFI Issue 646 - April 10, 2019

State port operator Pelabuhan Indonesia (Pelindo) III is planning to develop an LNG terminal at the Teluk Lamong Terminal, Tanjung Perak Port in Surabaya.

Cocopower proposes US$500m WtE in Bataan

PFI Issue 646 - April 10, 2019

Cocopower Energy has submitted an unsolicited proposal to develop a waste-to-energy project in the freeport area in Mariveles, Bataan.

Bukpyeong CFPP refinancing secured

PFI Issue 646 - April 10, 2019

STX Electric Power has refinanced a W1.55trn (US$1.36bn) loan on its 1,190MW Bukpyeong coal-fired power plant in the National Industrial Complex in Donghae City in Gangwon province.

PNG LNG sponsors sign LNG sale with Unipec

PFI Issue 646 - April 10, 2019

The sponsors of the PNG LNG project have signed a mid-term LNG sale and purchase agreement (SPA) with Unipec Singapore Pte Ltd (Unipec) for the supply of approximately 0.45MTPA over a four-year period commencing in April. Unipeg is a wholly owned subsidiary of China’s Sinopec.

Banks line up for Aker Energy

PFI Issue 646 - April 10, 2019

Banks are working on the hybrid project financing for Aker Energy’s Tano Cape Three Points oil field financing. Three or four banks are expected to be involved in the lead group, with Credit Agricole, Natixis, Societe Generale, ING, Standard Bank and Standard Chartered looking at the scheme.

Govt prepares upstream licensing round

PFI Issue 646 - April 10, 2019

The government of Equatorial Guinea has reduced the number of blocks available in this year’s upstream licensing round to 26, down from 27.

Coal IPP EPC to be announced this month

PFI Issue 646 - April 10, 2019

ContourGlobal is expected to announce its selected EPC provider for a 500MW coal IPP in Kosovo this month.

NNPC deals due

PFI Issue 646 - April 10, 2019

Nigerian National Petroleum Corporation’s US$2bn pre-export finance loan is due to be launched to banks in May.

Castleton CCGT financing launched

PFI Issue 646 - April 10, 2019

Investec has launched a five-year €160m financing to banks to back Castleton Commodities International’s two merchant power gas-fired plants in the Netherlands.

Bidders line up on solar

PFI Issue 646 - April 10, 2019

Four strong teams are emerging on the 900MW Al Kharsaa solar scheme being tendered by state utility Kahramaa. They are Jinko/Kepco, Power Construction Corporation of China, Marubeni, and Mitsui/Engie.

Amey appeals against Cambridge WtE rejection

PFI Issue 646 - April 10, 2019

Amey is appealing against a decision by Cambridgeshire County Council to reject its proposed £230m 250,000tpa waste-to-energy (WtE) plant at its existing Waterbeach, Cambridge site.

Derby WtE subdebt wiped out

PFI Issue 646 - April 10, 2019

Waste management company Renewi, the 50% owner of the Derby waste-to-energy (WtE) scheme, has written off its £22m in subdebt on the project plus £17m of historic costs and £10m of delay damages.

MUFG expands power unit

PFI Issue 646 - April 10, 2019

MUFG has hired Jean Monson as a vice-president in its Singapore-based regional project finance unit.

MOL signs LNG deal with Karpower

PFI Issue 646 - April 10, 2019

Japan’s Mitsui OSK Lines (MOL) and Turkey’s Karpower International have signed an agreement to collaborate in the LNG-to-powership business under the brand Karmol.

Welch to head EagleClaw

PFI Issue 646 - April 10, 2019

EagleClaw Midstream Ventures has named former Energy Transfer Equity chief financial officer Jamie Welch to succeed co-founder Bob Milam as chief executive.

AIA selects HSBC as debt adviser

PFI Issue 646 - April 10, 2019

AIA Group has appointed HSBC Global Asset Management as its infrastructure debt adviser to identify and provide access to opportunities across the Asia-Pacific region.

Be for ever wasteful

PFI Issue 646 - April 10, 2019

Waste glorious waste. Forget the once sexy gas and power distribution networks (sexy?) which fuelled the M&A infraco space, waste is the new M&A king.

EPC bids invited for massive refinery works

PFI Issue 646 - April 10, 2019

Mexican President Andres Manuel López Obrador has announced that the country has invited four teams to bid on the tender for the US$8bn gulf coast refinery in Veracruz that is one of the chief infrastructure works promised by his government.

Hull Street lands NY gas-fired duo

PFI Issue 646 - April 10, 2019

Maryland-based Hull Street Energy has bought the combined 110MW Bayswater and Jamaica Bay natural gas-fired projects in New York from a subsidiary of NextEra Energy Resources. The two facilities are flexible and fast-start peakers.

More details emerge on Niles IPP deal

PFI Issue 646 - April 10, 2019

The sponsor group of Korea Southern Power Co (KOSPO), Daelim Energy and Indeck Energy are shoring up the financing backing the 1,085MW Niles Energy Center in Michigan.

Sempra lands DOE approval for Costa Azul

PFI Issue 646 - April 10, 2019

Sempra Energy subsidiary Energia Costa Azul has received two authorisations from the US Department of Energy (DOE) to export US produced natural gas to Mexico and to re-export liquefied natural gas to countries that do not have a free-trade agreement with the US.

Riverstone launches Utopia TLB add-on

PFI Issue 646 - April 10, 2019

Riverstone Investment Group has launched a US$25m add-on to a Term Loan B financing backing its 50% stake in the Utopia gas pipeline in Ohio.

University of Iowa delays energy RFQ

PFI Issue 646 - April 10, 2019

The University of Iowa has delayed the release of a request for qualification (RFQ) for its utility operations that was expected on April 1.

Nuclear deal progresses

PFI Issue 646 - April 10, 2019

Argentina and China are nearing “new financial structures” backing the development of the massive Atucha III nuclear power project, according to Julian Gadano, undersecretary for nuclear energy for Argentina.

Dominion permanently shuts 10 plants

PFI Issue 646 - April 10, 2019

Dominion Energy has made a final decision to close 10 coal and gas-fired generating units it has deemed to be no longer profitable.

Lonestar II TLB launched

PFI Issue 646 - April 10, 2019

Lonestar Generation has launched a US$280m Term Loan B/C financing package that will fund a letter of credit account and add cash to the balance sheet.

Sponsors look to double Kitimat LNG size

PFI Issue 646 - April 10, 2019

Chevron and Woodside Energy have applied to Canada’s National Energy Board (NEB) for a new Kitimat LNG licence that would nearly double the size of the British Columbia project.

BC introduces LNG tax credit legislation

PFI Issue 646 - April 10, 2019

The government of British Columbia has introduced legislation to create a new tax credit for LNG projects. The credit was developed in an attempt to attract more LNG projects to the province.

PG&E DIP financing approved

PFI Issue 646 - April 10, 2019

Judge Dennis Montali has approved PG&E’s US$5.5bn debtor-in-possession financing, allowing the utility to access the funds after weeks of deliberation.

Battery in California

Battery storage finds a model

PFI Issue 646 - April 10, 2019

US power storage projects are increasingly bankable. Regulatory changes, increased familiarity with technology and lender appetite are the keys. By Alison Healey.

CIP issues RFP for offshore wind

PFI Issue 646 - April 10, 2019

Copenhagen Infrastructure Partners (CIP) of Denmark and its financial advisers MUFG and CTBC Bank have issued the request for proposal (RFP) to banks for the debt financing of up to NT$70bn (US$2.3bn) for its 600MW Chang Fang offshore wind projects in the country.

Mexico’s President Andres Manuel Lopez Obrador gives a speech marking the first 100 days of his presidency at the National Palace in Mexico City, Mexico. REUTERS/Edgard Garrido

LatAm energy’s missing ingredient – Financing

PFI Issue 646 - April 10, 2019

Latin America had been on the verge of becoming the world leader in renewable energy development. After the renewable energy development booms in Europe and the US had begun to taper off, developers turned to Latin America as the next gold rush region rich in development opportunities, particularly in jurisdictions such as Mexico, Chile and Argentina, where government policy-makers had implemented energy reforms to encourage renewable energy projects. By Dino Barajas, partner, Akin Gump Strauss Hauer & Feld LLP.

ERG moves away from PF with bond issue

PFI Issue 646 - April 10, 2019

Italian energy company ERG has placed its inaugural €500m six-year Green bond issue after pricing it at 1.875%, or 180bp over mid-swaps, saying it will increasingly rely on balance sheet financing to expand in renewables.

SMBC picks EMEA power and O&G heads

PFI Issue 646 - April 10, 2019

SMBC has appointed Caroline Smith as its new head of power and renewables for EMEA and Shehzad Haq as head of oil and gas.

EnBW to buy Valeco

PFI Issue 646 - April 10, 2019

German utility EnBW has been selected to buy French renewables developer Valeco from its owners, the Gay family and CDC.

KKR NEP US$1.09bn JV deal in syndication

PFI Issue 646 - April 10, 2019

Citigroup, MUFG, and Mizuho have closed a seven-year US$1.09bn financing backing KKR and NextEra Energy Partners’ joint venture that is acquiring more than 1GW of operating renewables assets from NextEra Resources.

Norway’s oil fund into unlisted renewables

PFI Issue 646 - April 10, 2019

The Norwegian government has allowed the country’s US$1trn oil fund to invest in unlisted renewable energy for up to 2% of the fund’s value.

Prime Capital launches wind fund

PFI Issue 646 - April 10, 2019

German asset manager Prime Capital has launched fundraising for a €500m fund that will invest in subsidy-free onshore wind farms in Sweden and Norway.

Meridiam reaches close on reopened Africa fund

PFI Issue 646 - April 10, 2019

Meridiam has exceeded its fundraising target on the reopening of its Meridiam Infrastructure Africa Fund (MIAF), closing at €546m against a target of €510m.

US corporates target 60GW by 2025

PFI Issue 646 - April 10, 2019

A group of more than 300 companies has launched the Renewable Energy Buyers Alliance (REBA), marking the largest group of corporate renewable energy buyers in the US.

Enel buys Tradewind and sells subsidiary

PFI Issue 646 - April 10, 2019

Enel, through Enel Green Power North America, has closed the purchase of Kansas-based renewable developer Tradewind Energy.

Wpd appoints finance chief

PFI Issue 646 - April 10, 2019

German renewables developer wpd has appointed Bjorn Nullmeyer as a member of the management board responsible for the financing division.

BlackRock makes second investment in CleanCapital

PFI Issue 646 - April 10, 2019

BlackRock has made its second investment in CleanCapital, a US clean energy investment platform co-founded by the Obama administration’s chief sustainability officer Jon Powers.

Avaada Energy secures renewables financing

PFI Issue 646 - April 10, 2019

Avaada Energy, the clean energy arm of Avaada Group and a leading solar project developer, has received US$143m of equity financing to double its renewable energy portfolio to 5GW.

Genneia taps Nordex

PFI Issue 646 - April 10, 2019

Argentine IPP Genneia has tapped Germany’s Nordex to supply 38 N149 4.0-4.5 wind turbines for its 166MW Chubut Norte cluster of wind farms.

Renova accepts revamped AES Tiete offer

PFI Issue 646 - April 10, 2019

Renova Energia has announced that its board has accepted an offer from AES Tietê Energia to buy the operational 433MW Alto Sertao III wind project. Renova rejected a January offer for the assets. It has been looking to sell the projects since July last year after a deal with Brookfield fell through in May.

AES buys wind portfolio

PFI Issue 646 - April 10, 2019

AES Gener subsidiary AES Chivor has purchased Colombian developer Jemeiwaa-Kai.

Rio to add BNB to lender roster

PFI Issue 646 - April 10, 2019

Denham Capital-backed Rio Energy is set to tap BNDES and Banco do Nordeste do Brasil (BNB) for financing backing the expansion of its wind portfolio in Brazil.

Governor to sign 100% RPS Bill

PFI Issue 646 - April 10, 2019

Puerto Rico Governor Ricardo Rosselló is set to sign Senate Bill 1121, which would make the island the fifth US state to establish a 100% renewable portfolio standard.

Sarco comes online

PFI Issue 646 - April 10, 2019

Aela Energia’s 170MW Sarco wind farm in Atacama has come online.

Enertronica lands renewables contract

PFI Issue 646 - April 10, 2019

Italian renewables company Enertronica has signed a memorandum of understanding (MoU) with “one of the main utility companies in the country”, according to a statement.

DIF acquires two MIC wind projects

PFI Issue 646 - April 10, 2019

DIF Infrastructure Fund V has agreed to acquire 100% of Macquarie Infrastructure Company’s indirect interest in two wind projects in Idaho and New Mexico.

RenovAr Ronda 4 due in 2019

PFI Issue 646 - April 10, 2019

The RenovAr Ronda 4 auction for large-scale renewables projects will be held in 2019, according to Minister of Energy and Renewable Energy Sebastian Kind.

Details emerge on Mass offshore round 2

PFI Issue 646 - April 10, 2019

Massachusetts utilities Eversource, National Grid, and Until are seeking state approval to launch a second round of offshore wind bidding in the state.

Tucson Electric selects EDF project

PFI Issue 646 - April 10, 2019

Tucson Electric Power (TEP) has entered a build and transfer agreement valued at US$370m with EDF Renewables for the construction of a 247MW wind project in New Mexico.

Goldman buys lease portfolio

PFI Issue 646 - April 10, 2019

Goldman Sachs Renewable Power has agreed to purchase a portfolio of commercial leases from SunPower for US$86.9m. The deal includes 233MW of projects in nine states.

Moody's details possible PG&E PPA savings

PFI Issue 646 - April 10, 2019

PG&E could save an estimated US$1.4bn annually by rejecting its above-market power purchase agreements in bankruptcy proceedings, according to Moody’s.

Recurrent Energy lands US$50m LC

PFI Issue 646 - April 10, 2019

Canadian Solar subsidiary Recurrent Energy has secured a US$50m letter of credit from Natixis to support the development of its utility-scale solar pipeline across the US and Canada.

Tokyo Gas to invest in Engie renewables JV

PFI Issue 646 - April 10, 2019

Tokyo Gas has agreed to buy a 50% stake in Engie’s renewable business in Mexico.

Neoen plans 900MW green hub

PFI Issue 646 - April 10, 2019

Neoen Australia is reported to be in talks with local communities in Victoria’s far west to build a 900MW wind and battery storage project at a pine plantation owned by Mount Gambier plantation company GTFP.

Macarthur wind farm bidders to receive IMs

PFI Issue 646 - April 10, 2019

Potential bidders for Malakoff Corp’s 50% share of the 420MW Macarthur wind farm in Victoria will be sent an information memorandum this week by financial adviser Rothschild, according to reports.

Wind Prospect looks to build 700MW wind farm

PFI Issue 646 - April 10, 2019

Wind Prospect, is reported to be exploring the possibility of building a 700MW, A$875m (US$622m) wind farm near Hexam in Victoria.

AREH looks to green energy exports

PFI Issue 646 - April 10, 2019

CWP Renewables, Macquarie, Intercontinental Energy and Vestas, the sponsors of the ambitious 11GW wind and solar Australian Renewable Energy Hub (AREH) in the Pilbara region of Western Australia, are reported to be looking at exporting green hydrogen to countries such as Japan and South Korea.

Solar tower project cancelled

PFI Issue 646 - April 10, 2019

US company SolarReserve has cancelled a A$650m (US$463m) solar tower and molten salt storage plant planned for South Australia as it was unable to secure funding.

Australian power prices drop

PFI Issue 646 - April 10, 2019

Average wholesale power prices dropped 18% in 2018 from 2017 in all Australian states apart from Victoria, according to renewables developer Foresight in its annual results announced last week.

Risen eyes Q4 solar securitisation

PFI Issue 646 - April 10, 2019

Chinese company Risen Energy has announced plans for financing its solar energy project pipeline in 2019 via a securitisation deal.

Snowy Hydro looks for Snowy 2.0 funding

PFI Issue 646 - April 10, 2019

Snowy Hydro is reported to have hired Macquarie Capital to seek some of the funding needed to build the A$5.5bn (US$3.5bn) Snowy 2.0 expansion project in New South Wales.

Govt approves 100MW floating solar

PFI Issue 646 - April 10, 2019

The government of Sri Lanka has approved the proposed development of a 100MW floating solar project, according to ColomboPage.

Govt rejects Orsted supply chain proposal

PFI Issue 646 - April 10, 2019

The Taiwanese government has rejected Orsted’s supply chain proposal for the turbine foundations at the 900MW Changhua 1&2a offshore wind farm complex.

Wpd wind farm gets equity partners

PFI Issue 646 - April 10, 2019

A Japanese consortium comprising Sojitz Corp, Chugoku Electric Power, Chudenko Corp, Shikoku Electric Power and JXTG Nippon Oil & Energy has acquired a 27% stake in wpd’s 708MW Yunklin wind farm project.

Energy bureau delays offshore wind Phase 3

PFI Issue 646 - April 10, 2019

Taiwan’s Bureau of Energy has pushed back the launch of Phase 3 bidding for offshore wind projects from the first quarter target.

Genex gets green light on K-2 hydro

PFI Issue 646 - April 10, 2019

Genex Power has secured all environmental approvals required to develop the Kidston Pumped Storage Hydro Project (K2) in Queensland.

Goldwind/PowerChina reach FC on wind farm

PFI Issue 646 - April 10, 2019

PowerChina and Goldwind Australia, the two sponsors of the 144MW Cattle Hill wind farm in Tasmania, have reached financial close on the debt facility of the A$300m project.

Green light for offshore wind

PFI Issue 646 - April 10, 2019

Copenhagen Infrastructure Partners and local joint venture partner Offshore Energy received an exploration licence from the federal government last week to undertake development studies for the proposed A$8bn (US$5.6bn) 2,000MW Star of the South offshore wind project off the coast of Victoria.

OSMI looks to develop 300MW wind farm

PFI Issue 646 - April 10, 2019

OSMI Australia, a local renewables developer, is looking to develop the proposed 300MW Delburn wind farm in the Latrobe Valley in Victoria.

SECI to auction 500MW of solar

PFI Issue 646 - April 10, 2019

The Solar Energy Corporation of India (SECI) is reported to be asking developers to submit a request for selection (RFS) to develop 500MW (Phase I) of grid-connected solar in Tamil Nadu on a build-own-operate basis.

Actis looks to buy Engie’s solar portfolio

PFI Issue 646 - April 10, 2019

Private equity firm Actis is in talks with French company Engie to buy Engie’s 810MW solar power portfolio, according to market talk.

Mercury to build wind farm

PFI Issue 646 - April 10, 2019

Power generator and electricity retailer Mercury will build the NZ$236m (US$160m) Turitea wind farm near Palmerston North in the North Island.

SECI to auction 750MW of solar

PFI Issue 646 - April 10, 2019

The Solar Energy Corporation of India (SECI) is reported to have issued a request for selection (RFS) from developers to build 750MW (Tranche-II) in Rajasthan.

Statkraft to look for hydropower

PFI Issue 646 - April 10, 2019

Norwegian government-owned power company Statkraft is reported to be looking for opportunities to either build new projects in northern India or make acquisitions.

SJVN secures funding for 900MW Arun 3 hydro

PFI Issue 646 - April 10, 2019

SJVN, a joint venture between the government of India and the government of the northern state of Himachal Pradesh, has signed a memorandum of understanding with the Nepal government to develop the 900MW Arun 3 hydro power project.

Sunseap secures funds for 50MW rooftop solar

PFI Issue 646 - April 10, 2019

Solar developer Sunseap has secured a S$50m (US$37m) loan facility to finance the development of a 50MW portfolio of rooftop solar projects in Singapore, the first such financing in the region.

Govt scraps wind subsidy cuts

PFI Issue 646 - April 10, 2019

The Polish government has backed off from plans to retroactively cap onshore wind support levels, as developers prepare for a 2.5GW auction this summer.

Govt awards 30MW solar concession

PFI Issue 646 - April 10, 2019

The government of Mali has awarded a temporary concession to IPP PowerPro to develop the first phase of a 50MW solar farm as a PPP. The company will be permitted to build the first 29.6MW on a 28-year concession as a build-own-operate-transfer (BOOT) structure.

First solar tender launched

PFI Issue 646 - April 10, 2019

State-owned utility ELEM has issued the tender for Macedonia’s first large-scale solar PV plant, a 10MW scheme.

Solar prices jump in latest tender

PFI Issue 646 - April 10, 2019

Germany’s Federal Network Agency has awarded 505MW in its latest PV auction, which saw prices increase by nearly 40%. In total, 121 contracts were awarded in an oversubscribed process.

NDB and DBSA sign renewable loans

PFI Issue 646 - April 10, 2019

New Development Bank (NDB) and Development Bank of South Africa (DBSA) have signed a US$300m loan agreement to be allocated to a series of wind, solar and biomass power projects.

Danish model for OFTOs

PFI Issue 646 - April 10, 2019

Denmark will adopt its own model for the offshore transmission element of its up-and-coming offshore wind farms.

ACWA confirmed on Kom Ombo solar

PFI Issue 646 - April 10, 2019

ACWA Power has been confirmed as the preferred bidder on the 200MW Kom Ombo solar power project tendered by the Egyptian Electricity Transmission Company (EETC).

EWEC RFPs due

PFI Issue 646 - April 10, 2019

ADWEA successor Emirates Water & Electricity Company (EWEC) is due to issue the request for proposals (RFP) on its 2000MW F3 CCGT and 2,000MW Al Dhafra solar PV projects in early and late May, respectively.

JLEN gets long-term refi

PFI Issue 646 - April 10, 2019

John Laing Environments Assets Group (JLEN) has refinanced the long-term debt on 180MW of UK renewables assets via a new 18-year, £188m loan from NAB and SMBC. Hogan Lovells advised JLEN and DLA Piper advised the banks. The portfolio is made up of 10 wind assets and four solar assets.

Mega solar planned

PFI Issue 646 - April 10, 2019

German company Wirsol and UK-based Tribus Clean Energy are planning a 500MW solar and battery storage project via joint venture Sunnica Energy JV.

Renewable power curves flatten

PFI Issue 646 - April 10, 2019

Long-term power curves in the UK have flattened, according to research from equity analyst Jefferies based on the reporting of various secondary renewable energy funds – Bluefield Solar, Foresight Solar, Greencoat UK, John Laing Environment Assets (JLEN), NextEnergy and TRIG.

ADs get construction finance

PFI Issue 646 - April 10, 2019

Two gas-to-grid anaerobic digestion (AD) plants in Kent have been funded by investor Prestige Funds – the first a 2.5MW, 700m3/biomethane, £23.2m scheme and the second a £14.3m scheme.

Govt launches solar tender

PFI Issue 646 - April 10, 2019

The government of the Republic of Guinea-Bissau has launched a tender for one 20MW and two 1MW solar projects.

Govt to revive hydro PPP

PFI Issue 646 - April 10, 2019

Uganda’s Ministry of Water has requested state-owned Uganda Electricity Generation Company Ltd (UEGCL) to accelerate preparations for the 6.6MW Nyagak hydroelectric dam.

'Tremendous' interest in solar tender

PFI Issue 646 - April 10, 2019

Uzbekistan’s first solar tender has received 23 proposals from a host of international investors.

Consultant sought for renewables auction

PFI Issue 646 - April 10, 2019

The EBRD has launched a tender for a consulting firm to assist the Azerbaijani government in designing and launching renewable energy auctions.

Govt announces solar tender winners

PFI Issue 646 - April 10, 2019

Tunisia’s Ministry of Energy has revealed the list of winning projects and sponsors for its second 70MW solar tender.

Tenergie buys DIF PVs

PFI Issue 646 - April 10, 2019

Dutch investor DIF has sold its stakes in 29 solar PV plants in France to Tenergie-controlled Terres d’Energie.

TRIG buys Envision wind

PFI Issue 646 - April 10, 2019

The Renewables Infrastructure Group (TRIG) has bought the 40MW Tille et Venelle wind farm in Burgundy for €30m from Envision Energy.

Foresight signs ArcelorMittal solar PPA

PFI Issue 646 - April 10, 2019

UK investor Foresight Group has signed a 10-year fixed-price corporate power purchase agreement (PPA) with steelmaker ArcelorMittal.

Axpo signs Brocklingberget PPA

PFI Issue 646 - April 10, 2019

Swiss energy trader Axpo has signed a 10-year fixed-price power purchase agreement (PPA) for the 45MW Brocklingberget onshore wind farm in Sweden owned by investor re:cap.

Vestas on first subsidy-free wind farm

PFI Issue 646 - April 10, 2019

Vestas has received an order for four 4.2MW turbines for Denmark’s first unsubsidised onshore wind farm, a 17MW project in the Port of Hirtshals.

CEE adds wind farms

PFI Issue 646 - April 10, 2019

Hamburg-based renewables investor CEE has bought two wind farms in Hesse and Rhineland-Palatinate from DunoAir.

SUSI buys Local Energy wind

PFI Issue 646 - April 10, 2019

Swiss investor SUSI Partners has bought a section of the 68.3MW Lonborg Hede onshore wind farm in Denmark from developer Local Energy.

Ferrovial eyes Ferroglobe hydropower

PFI Issue 646 - April 10, 2019

Construction group Ferrovial has approached metals group Ferroglobe, controlled by Grupo Villar Mir, to buy its mini hydroelectric power plants in Spain.

Hevel to co-develop solar projects

PFI Issue 646 - April 10, 2019

Russia’s largest solar company Hevel has said it will develop new solar farms in Kyrgyzstan alongside local group Astra Solar.

Tender issued for 10.5MW of solar capacity

PFI Issue 646 - April 10, 2019

The United Nations Development Programme (UNDP) has launched a tender for two solar farms of 7MW and 3.5MW in Gambia.

Scaling Solar tender advances

PFI Issue 646 - April 10, 2019

Ethiopia’s PPP Directorate has issued a request for proposals (RFP) to the 12 pre-qualified bidders for its 250MW Scaling Solar tender. The two 125MW projects will be awarded to the lowest bidders.

Renewables auction prices out

PFI Issue 646 - April 10, 2019

Finland’s energy agency has awarded feed-in premiums averaging just €2.50 per MWh to seven wind projects in its first renewable energy auction.

Ence closes Puertollano CSP financing

PFI Issue 646 - April 10, 2019

Spanish energy group Ence has closed a €110m non-recourse debt financing with four lenders for the 50MW concentrated solar plant (CSP) in Puertollano it acquired in December from Iberdrola.

Tages increases portfolio loan

PFI Issue 646 - April 10, 2019

Investor Tages Capital has signed an €85m debt facility to refinance the 48MW Enersol solar plants acquired in December from Glennmont Partners.

Eight apply for solar and wind auction

PFI Issue 646 - April 10, 2019

Greek energy regulator RAE has received eight applications totalling 638MW for its first joint solar and wind power tender.

Fri-El funds Colle Sannita wind

PFI Issue 646 - April 10, 2019

Italian renewables company Fri-El and Wealth Venture Fund, controlled by Singapore’s Golden Agri-Resources, have financed the €51m 28.6MW Colle Sannita wind farm in Campania.

Bidders awarded 120MW of solar power in GET FiT tender

PFI Issue 646 - April 10, 2019

Zambia has awarded 120MW of solar capacity to three different IPPs under the GET FiT programme on a weighted average tariff of US$0.0441 per kWh.

Templeborough refi bids due

PFI Issue 646 - April 10, 2019

Debt bids on Copenhagen Infrastructure Partners’ refinancing of the 42MW, £160m Templeborough biomass project in south Yorkshire are due this week. Rothschild is advising.

French bank finances La Isla solar

PFI Issue 646 - April 10, 2019

Jinko Power, Ardian and White Summit Capital have financed the €125m 182.5MW La Isla solar PV plant in Seville with €90m of debt provided by Natixis.

X-Elio closes 571MW solar financings

PFI Issue 646 - April 10, 2019

Spanish solar power company X-Elio has closed two financings covering 571MW of auction-based and power purchase agreement-backed solar PV plants.

Forestalia signs Phoenix funding and eyes more

PFI Issue 646 - April 10, 2019

Spanish renewables firm Forestalia has signed equity agreements and a €170m bridge loan for the 342MW Phoenix portfolio of 10 wind projects in Aragon. The deal follows last year’s Goya 300MW wind financing and is set to be followed by more projects.

Brisbane

Cross River financing leads the way

PFI Issue 646 - April 10, 2019

Brisbane’s Cross River tunnel project has been awarded. Its financing template is mirrored across other tunnel PPPs throughout Australia. By John Arbouw

SNC-Lavalin reaches close on Trillium

PFI Issue 646 - April 10, 2019

SNC-Lavalin’s TransitNEXT has reached financial close on the Trillium Line extension project. As the sole proponent in the TransitNEXT team, SNC-Lavalin will design, build, finance and maintain the extension, and will also assume responsibility for the long-term maintenance of the existing Trillium Line.

Details emerge on 4G mini-perm

PFI Issue 646 - April 10, 2019

Sacyr-led concessionaire Vial Union del Sur is nearing close on the debt package backing the Pasto–Rumichaca 4G roadway public-private partnership in the country’s south.

IDB mulls port financing

PFI Issue 646 - April 10, 2019

The Inter-American Development Bank (IDB), through IDB Invest, is mulling a US$112.5m loan backing the Puerto de Antioquia public-private partnership port complex.

Rumo wins rail auction

PFI Issue 646 - April 10, 2019

Brazilian logistics company Rumo has won the auction for the much-hyped Ferrovia Norte-Sul rail project with a bid of R$2.719bn (US$694m).

3i invests in Regional Rail

PFI Issue 646 - April 10, 2019

3i Group has agreed to invest in Regional Rail, owner and operator of short-line freight railroads and rail-related businesses in Mid-Atlantic US.

Three shortlisted on PA wetlands P3

PFI Issue 646 - April 10, 2019

The Pennsylvania Department of Transportation (PennDOT) has shortlisted three teams on its wetlands mitigation public-private partnership.

OMERS acquiring 407 stake

PFI Issue 646 - April 10, 2019

OMERS Infrastructure has agreed to acquire a 10.01% stake in the 407 express toll route (407 ETR) from SNC-Lavalin for C$3bn (US$2.24bn) upfront.

Tlicho road P3 reaches financial close

PFI Issue 646 - April 10, 2019

North Star Infrastructure (NSI) has reached financial close on a C$173m (US$130.5m) bank financing to back the Tlicho all-season road public-private partnership.

Fitch sees NJ/NY Gateway funding problem

PFI Issue 646 - April 10, 2019

Fitch Solutions said in a new report there is “no clear path forward” for the New York–New Jersey Gateway programme, an estimated US$29bn rail infrastructure modernisation and replacement initiative.

Bidders selected for North East Link early works

PFI Issue 646 - April 10, 2019

The Victorian government has shortlisted CPB and Laing O’Rourke for the A$200m (US$141m) early works package for the A$16.5bn (US$11.9bn) North East Link availability PPP project in Melbourne.

ARTC calls for EoIs for Inland Rail PPP

PFI Issue 646 - April 10, 2019

The Australian Rail Track Corp, the entity responsible for building the US$10bn Inland Rail project, has called for expressions of interest in building the PPP part of the project.

Siargao Airport gets unsolicited proposal

PFI Issue 646 - April 10, 2019

The Philippines’ Department of Transportation has received an unsolicited proposal for an operation and maintenance contract for the Siargao Airport (Sayak Airport) in Surigao del Norte in Mindanao.

Bulacan airport concession decision in Q3

PFI Issue 646 - April 10, 2019

The Philippines’ Department of Transportation (DoTr) is expected to award the concession to develop and operate an international airport in Bulacan by Q3.

April deadline for NAIA

PFI Issue 646 - April 10, 2019

The NAIA Consortium has until the end of April to complete its concession agreement with the government for the repair and modernisation of Ninoy Aquino International Airport (NAIA).

Atlas Arteria eyes Eastlink toll road stake

PFI Issue 646 - April 10, 2019

Atlas Arteria, which was spun out of Macquarie Group, is reported to be looking at buying China Investment Corp’s 13.8% stake in the Eastlink toll road in Melbourne. The deal is expected to be worth about A$500m (US$356m).

Govt to announce winning bid for road upgrade projects

PFI Issue 646 - April 10, 2019

The Victorian government is expected to announce the winning bid this month for the PPP project involving upgrades to 14 arterial roads across Melbourne’s outer north and south-east as part of the A$2.2bn (US$1.56bn) northern and south-eastern package of the Suburban Roads Upgrade.

GHIAL prices bonds

PFI Issue 646 - April 10, 2019

GMR Hyderabad International Airport (GHIAL) has priced a five-year senior secured issue of US$300m in the international bond market at a coupon of 5.375%, to finance the expansion of the airport in Hyderabad.

NIIF and Roadis JV to invest in roads

PFI Issue 646 - April 10, 2019

India’s National Investment & Infrastructure Fund and Spain’s Roadis have announced plans to set up a US$2bn equity platform to invest in roads.

Pelindo III plans LNG terminal

PFI Issue 646 - April 10, 2019

State port operator Pelabuhan Indonesia (Pelindo) III is planning to develop an LNG terminal at the Teluk Lamong Terminal, Tanjung Perak Port in Surabaya.

ADB shortlists legal counsel for road projects

PFI Issue 646 - April 10, 2019

The Asian Development Bank (ADB) has shortlisted law firms to be its legal counsel for road projects in Myanmar. The list is believed to include Pinsent Masons.

Brussels Airport debt detailed

PFI Issue 646 - April 10, 2019

Five institutional investors and four banks funded the €430m loan backing APG, QIC and Swiss Life’s purchase of 36% in Brussels Airport from MIRA – MetLife, Barings, Rivage, Blackrock, Schroders, IMI, NAB, ING and Mediobanca.

Causeway bid delay

PFI Issue 646 - April 10, 2019

The bid deadline for the advisory contract on the US$4bn Bahrain Saudi Causeway bridge expansion project has been put back once again, to April 14 from March 28.

Crossrail trains sale signed

PFI Issue 646 - April 10, 2019

The Equitix/NatWest/SMBC Leasing team has signed its £1bn sale and leaseback trains deal with Transport for London (TfL) for Crossrail trains as further delays to the scheme itself have been revealed.

M10 road tender to begin imminently

PFI Issue 646 - April 10, 2019

The tender for the €185.5m M-10 highway PPP is expected to be launched in the next two weeks, PFI has learnt.

Govt plans 760km rail PPP

PFI Issue 646 - April 10, 2019

Togo’s government has revealed plans to build a 760km railway using a PPP model from the capital city of Lome to Cinkasse, a town on the border with Burkina Faso.

Details emerge on Almaty road PF

PFI Issue 646 - April 10, 2019

Lenders to and sponsors of for the US$750m Almaty ring road, Kazakhstan’s first large-scale infrastructure PPP, are targeting financial close in the first half of this year.

HICL buys Blankenburg tunnel stake

PFI Issue 646 - April 10, 2019

UK-listed infrastructure fund HICL Infrastructure Company has agreed to buy a stake in the Blankenburg tunnel PPP project in the Netherlands from Macquarie.

Ardian to sell Indigo stake

PFI Issue 646 - April 10, 2019

French private equity firm Ardian has entered exclusive negotiations to sell its 50% stake in car park company Indigo to Mirova and MEAG.

Five bidders approved for Crete road PPP

PFI Issue 646 - April 10, 2019

The Greek government has pre-qualified all five bidders for the largest section of the northern motorway axis PPP on Crete.

Pedemontana Veneta wins appeal

PFI Issue 646 - April 10, 2019

The regional administrative tribunal of Veneto has rejected appeals by losing bidder Salini Impregilo against the award of the Pedemontana Veneta motorway to a rival Fininc/Sacyr consortium.

Toll road bonds priced

PFI Issue 646 - April 10, 2019

Ferde, the publicly owned toll road operator of south-western Norway, has priced NKr750m (€78m) of bonds to finance the NKr3.2bn E18 Tvedestrand–Arendal motorway.

Ardian eyes ADP stake

PFI Issue 646 - April 10, 2019

French private equity firm Ardian is looking to bid for a 29.9% stake in Aeroports de Paris (ADP) as part of the Paris airports operator’s privatisation, reported France’s Agefi.

One consortium bids on motorway PPP

PFI Issue 646 - April 10, 2019

Only one of the five shortlisted consortia for the €1.4bn Ploiesti to Brasov motorway PPP submitted a binding offer before the March 25 deadline.

Roadis sets up India toll road venture

PFI Issue 646 - April 10, 2019

Spain-based motorway operator Roadis has set up a joint venture with the National Investment & Infrastructure Fund (NIIF) of India to co-invest US$2bn of equity in Indian toll roads.

Date set for SNC-Lavalin trial decision

PFI Issue 646 - April 10, 2019

A judge has set a May 29 court date for his decision on whether SNC-Lavalin will proceed to a criminal trial.

Lendlease to sell construction business

PFI Issue 646 - April 10, 2019

Morgan Stanley and Gresham Partners are reported to have been mandated by Lendlease to sell its construction business.

AIA selects HSBC as debt adviser

PFI Issue 646 - April 10, 2019

AIA Group has appointed HSBC Global Asset Management as its infrastructure debt adviser to identify and provide access to opportunities across the Asia-Pacific region.

Light rail PPP to next stage

PFI Issue 646 - April 10, 2019

Guatemala public-private promotion group Agencia Nacional de Alianzas para el Desarrollo de Infraestructura Económica (ANADIE), alongside competition agency Pronacom, has launched a tender for a consultant to develop advanced design studies for a light rail project in the capital, Guatemala City.

Engie wins TAG auction with debt financing

PFI Issue 646 - April 10, 2019

French company Engie has won the auction for state-run oil company Petrobras’ gas pipeline operator TAG, which accounts for 47% of Brazil’s entire gas infrastructure.

REUTERS/Hannibal Hanschke - Uzbekistan’s President Shavkat Mirziyoyev attends a news conference at the Chancellery in Berlin, Germany

Uzbekistan is trending at #Oil&Gas

PFI Issue 646 - April 10, 2019

Uzbekistan has a long history and rich culture as a nation actively involved in global commerce and trade. For centuries, the country was at the very heart of the Silk Road connecting East and West. Today, the country once again sits at the crossroads of the One Belt One Road initiative. By Jason Kerr, Kamilla Azamat and Kamran Ahmad, White & Case.

Welch to head EagleClaw

PFI Issue 646 - April 10, 2019

EagleClaw Midstream Ventures has named former Energy Transfer Equity chief financial officer Jamie Welch to succeed co-founder Bob Milam as chief executive.

EPC bids invited for massive refinery works

PFI Issue 646 - April 10, 2019

Mexican President Andres Manuel López Obrador has announced that the country has invited four teams to bid on the tender for the US$8bn gulf coast refinery in Veracruz that is one of the chief infrastructure works promised by his government.

Sempra lands DOE approval for Costa Azul

PFI Issue 646 - April 10, 2019

Sempra Energy subsidiary Energia Costa Azul has received two authorisations from the US Department of Energy (DOE) to export US produced natural gas to Mexico and to re-export liquefied natural gas to countries that do not have a free-trade agreement with the US.

Riverstone launches Utopia TLB add-on

PFI Issue 646 - April 10, 2019

Riverstone Investment Group has launched a US$25m add-on to a Term Loan B financing backing its 50% stake in the Utopia gas pipeline in Ohio.

CPPIB backs Aqua America acquisition of Peoples

PFI Issue 646 - April 10, 2019

Canada Pension Plan Investment Board (CPPIB) has made a US$750m investment in US-based water and waste-water utility Aqua America that will help Aqua finance the acquisition of Peoples Natural Gas from SteelRiver Infrastructure Partners.

Brookfield to sell Tas Gas

PFI Issue 646 - April 10, 2019

Brookfield Infrastructure Partners is reported to have hired Citigroup to sell Tas Gas Networks, a natural gas distribution and retailing company in Tasmania.

Shell seeks Malampaya extension

PFI Issue 646 - April 10, 2019

Shell Philippines Exploration (SPEx) is seeking a six-year extension of Service Contract 38, the Malampaya natural gas field, to explore other areas in northwest Palawan. Shell’s current contract will expire in 2024.

Masela LNG delayed on project cost

PFI Issue 646 - April 10, 2019

Inpex’s Masela liquefied natural gas terminal project continues to be delayed by talks over the cost. The Indonesian government and Inpex Corporation have yet to reach agreement on the cost of the LNG plant as their respective estimates have been different.

Banks line up for Aker Energy

PFI Issue 646 - April 10, 2019

Banks are working on the hybrid project financing for Aker Energy’s Tano Cape Three Points oil field financing. Three or four banks are expected to be involved in the lead group, with Credit Agricole, Natixis, Societe Generale, ING, Standard Bank and Standard Chartered looking at the scheme.

Govt prepares upstream licensing round

PFI Issue 646 - April 10, 2019

The government of Equatorial Guinea has reduced the number of blocks available in this year’s upstream licensing round to 26, down from 27.

NNPC deals due

PFI Issue 646 - April 10, 2019

Nigerian National Petroleum Corporation’s US$2bn pre-export finance loan is due to be launched to banks in May.

CATS to be refinanced

PFI Issue 646 - April 10, 2019

Antin Infrastructure Partners is to refinance the debt on its Central Area Transmission System (CATS) gas pipeline, having repaid the previous loan in late March. RBC is leading the new deal.

Bidders withdraw from Hellenic Petroleum sale

PFI Issue 646 - April 10, 2019

Greek privatisation fund HRADF has failed to obtain binding offers for a majority stake in Hellenic Petroleum.

Carlyle buys Cepsa stake

PFI Issue 646 - April 10, 2019

US private equity firm Carlyle Group has bought a stake of between 30% and 40% in Spanish oil and gas company Cepsa from Abu Dhabi’s Mubadala.

SPV lands CCGT and LNG financing

PFI Issue 646 - April 10, 2019

Special purpose vehicle UTE GNA I Geração de Energia has closed a roughly US$763m non-recourse financing backing a 1,298MW gas-fired combined-cycle power project for the Açu Port in São João da Barra, in the northern part of Rio de Janeiro state.

NextDecade signs Shell LNG linked to Brent

PFI Issue 646 - April 10, 2019

NextDecade has signed the country’s first long-term contract for liquefied natural gas (LNG) produced in the US to be indexed to Brent oil prices.

Energy Transfer and Shell on Lake Charles LNG

PFI Issue 646 - April 10, 2019

Energy Transfer has signed a project framework agreement (PFA) with Shell to accelerate development of an LNG export facility in Lake Charles, Louisiana.

Total agrees to Driftwood LNG investment

PFI Issue 646 - April 10, 2019

Total has agreed to invest in Tellurian’s Driftwood Holdings under a non-bonding heads of agreement (HOA). Total plans to offtake 2.5m tonnes per annum (mtpa) of LNG from the project.

MOL signs LNG deal with Karpower

PFI Issue 646 - April 10, 2019

Japan’s Mitsui OSK Lines (MOL) and Turkey’s Karpower International have signed an agreement to collaborate in the LNG-to-powership business under the brand Karmol.

Sponsors sign Papua LNG deal with govt

PFI Issue 646 - April 10, 2019

Total SA, operator of the Papua LNG Project, ExxonMobil and Oil Search have signed a gas agreement with the Papua New Guinea government defining the fiscal framework for the Papua LNG Project.

Pelindo III plans LNG terminal

PFI Issue 646 - April 10, 2019

State port operator Pelabuhan Indonesia (Pelindo) III is planning to develop an LNG terminal at the Teluk Lamong Terminal, Tanjung Perak Port in Surabaya.

PNG LNG sponsors sign LNG sale with Unipec

PFI Issue 646 - April 10, 2019

The sponsors of the PNG LNG project have signed a mid-term LNG sale and purchase agreement (SPA) with Unipec Singapore Pte Ltd (Unipec) for the supply of approximately 0.45MTPA over a four-year period commencing in April. Unipeg is a wholly owned subsidiary of China’s Sinopec.

LNG supply agreed for Arctic 2

PFI Issue 646 - April 10, 2019

Novatek Gas & Power has signed non-binding heads of agreement (HoA) with Spain’s Repsol to conclude a 15-year contract for the yearly supply of 1m tonnes of LNG from the Arctic 2 LNG project and others.

Sponsors look to double Kitimat LNG size

PFI Issue 646 - April 10, 2019

Chevron and Woodside Energy have applied to Canada’s National Energy Board (NEB) for a new Kitimat LNG licence that would nearly double the size of the British Columbia project.

BC introduces LNG tax credit legislation

PFI Issue 646 - April 10, 2019

The government of British Columbia has introduced legislation to create a new tax credit for LNG projects. The credit was developed in an attempt to attract more LNG projects to the province.