Avance Gas’ Post

Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that it has agreed to purchase infrastructure fund CVC DIF’s share in the French company Geogas LNG, providing an indirect economic interest of up to 34% in France LNG Shipping SAS (“FLS”). FLS owns a portfolio of LNG carriers on long-term charters and is 50/50 owned by NYK and Geogas LNG. Six vessels are currently on the water with an average age of three years, with further two being delivered in 2024 and 2025. Four additional newbuildings are expected to be novated to FLS at or around closing of the transaction and will be delivered in 2027. All vessels are employed on long-term charters to tier-one investment grade-rated European energy companies, with an average contract duration of 10 years, or 14 years including extension options. Based on an indirect economic interest of 34%, the transaction will add approximately USD 840 million to Ocean Yield’s EBITDA backlog. Closing of the transaction is expected to occur during the second half of 2024, subject to certain customary conditions. Chief Executive Office Andreas Røde said in a comment: “We are pleased to partner with NYK, Geogas Maritime and Access Capital Partners for our first transaction in the LNG segment. FLS controls a fleet of modern LNG carriers with a low carbon footprint and long-term charters to investment grade-rated counterparties.” Advokatfirmaet BAHR AS and Stephenson Harwood LLP acted as legal advisors to the Company in connection with the transaction.

Myerson raises a crucial point highlighting the UK's heavy reliance on oil and gas, with a significant portion being imported. The decision on domestic production versus importation carries substantial implications, not only for energy security but also for economic and environmental factors. #ithacaenergy #ithaca #eni #oilandgas #ukenergy #northsea

Santos Ltd finally raises the costs for the #Barossa #gas project by US$200mn to US$300mn to between US$4.5bn to US$4.6bn. But this is still not the full cost, as Santos likes to talk up how is will bury the prolific amounts of #co2 from Barossa in the Bayu Undan CCS venture in the Timor Sea in #timorleste waters, but it hasn't disclosed the cost of Bayu Undan CCS. Until it does, we don't know the full cost of the CO2 laden Barossa field. https://lnkd.in/gWX4gmNp #energytransition #emissions

What has Tellurian done all those years? Those projects have been proposed many years ago. LNG development takes some time but if it takes that long, something seems to be fundamentally wrong with the structure. What markets did they develop? Or were their business developers just hopping from one international conference to the next hoping someone might sign up to their inflated expectations? The LNG world is ossified. Too much same, same. Very little innovation and virtually no market development. Driftwood LNG is not so far away from Starbase where LNG is being used as a fuel for rockets. Not the volumes that Driftwood hopes to produce but hey, how about looking around for some other opportunities instead of conference hoping? https://lnkd.in/daBHQmyW

I am currently dealing with the Administration of a North Sea gas field and it’s pretty ominous to see that parts of the Waldorf group intend to appoint Administrators. The structure and bonds are similar to our case, and at a time when gas is greasing the long slipway to net-zero, this won’t help at all. It also makes you wonder whether with a new government likely, both the North Sea energy sector and aspirations to Net Zero are about to get a bit of a beating. https://lnkd.in/gsEv_fbb #restructuring #gas #northsea #netzero

🗣 "Our manifesto is the path to a successful energy transition. I think it's a really valuable contribution, it shows how we unlock investment, how we build the skills that are required to make the best of it for the UK, and it shows how we do it in a way that brings people with us so that it's done with them and not to them." Our CEO, David Whitehouse, speaking with Allister Thomas of Energy Voice about our industry manifesto - watch the full clip here 👇

Oil and gas investors have made clear they see long term potential in the North Sea even as some fear the area is set to become ‘uninvestable’. BUSINESS VOICES 📈 ✍️ Mark Williamson #oilgas #energy #northsea #businessvoices Read the whole story 👇

The federal auction of oil and natural gas tracts in the Gulf of Mexico, Lease Sale 261, is set to proceed on December 20 after a court order from the U.S. Court of Appeals for the Fifth Circuit. The Bureau of Ocean Energy Management (BOEM) will include previously excluded lease blocks, addressing concerns about potential impacts on the Rice's whale population. The decision, prompted by a successful challenge by the American Petroleum Institute (API), the State of Louisiana, and Chevron, follows two delays and involves the removal of restrictions on oil and gas vessels in whale habitats. The auction, a pivotal event for energy independence, may be the final offshore sale mandated by the Inflation Reduction Act, with the Biden administration proposing a new offshore leasing program for 2025. The Gulf of Mexico contributes significantly to U.S. energy production, accounting for 15% of total crude output and 5% of total dry gas production. #Energy #NaturalGas #GulfofMexico #GOM #GulfLeaseSale261 #BOEM #BOEMAuction #EnergyIndependence #OffshoreEnergy #OilandGas #EnergyDevelopment https://lnkd.in/dGvf3pyn

Highlighting the most recent Webber Research & Advisory #LNG Project Deep Dive, our Venture Global LNG Plaquemines Parish - Q224 Project Update. We're particularly focused on recent comments around "Feed Gas" and "First LNG" from VG at least week's CERAWeek conference, and how our projected timelines differ, based on what we're seeing on the ground, and in regulatory filings. Specifically, we're focused on: - Estimated timelines (by block) for - Feed Gas - First LNG - Full Production - In-Service - Budget and cost overrun estimates - Satellite image reviews For access information, contact us at info@webberresearch.com, or Walter Lobo....#LETSGO #naturalgas #natgas #oilandgas Zachry Group KBR, Inc. Baker Hughes Honeywell #EPC #energy #commodities INPEX Corporation ExxonMobil Chevron EnBW Energie Baden-Württemberg AG New Fortress Energy China Gas Holdings Ltd PETRONAS Excelerate Energy BBVA Santander Mizuho MUFG PGNiG SA Sinopec International Petroleum Service Corporation CNOOC International Shell EDF CaixaBank ING Capital, LLC Nomura Sumitomo Mitsui Banking Corporation – SMBC Group Scotiabank Shell Landesbank Baden-Württemberg, New York Branch RBS Bank of China Industrial and Commercial Bank of China Michael Webber, CFA Greg Wasikowski, CFA Eric Smith Robert Meaney Worley

Our most recent Webber Research & Advisory #LNG Project Deep Dive - focused on Zachry Group's Chapter 11 filing of Zachry Industrial Inc. (ZII), and the impact on Golden Pass LNG, Venture Global LNG's #Plaquemines Parish LNG, and other projects, including: - Updated Project Timeline Estimates (by Train & Block) for GPLNG & PPLNG - Summary of recent #GPLNG milestones related to Zachry - Analysis of lien affidavits and releases (2019-present) - Other projects impacted by ZII's filing - Pockets of exposure for QatarEnergy, ExxonMobil, Chiyoda Corporation, McDermott International, Ltd, and others - Analysis of #EPC Cost Overages, Change Orders, and where risk may sit - Analysis of the #Geotechnical report that may sit at the center of the issue - Relevant wage & commodity inflation factors - GPLNG Design changes by Train and by function Contact Walter Lobo for access information, as well as information on our 06/05/24 #WEPC Client Call....#LETSGO #naturalgas #oilandgas #HenryHub #HHub #Energy NextDecade Greg Wasikowski, CFA Michael Webber, CFA Eric Smith Robert Meaney Alexander Bidwell #commodities Air Products Baker Hughes Repsol Shell ConocoPhillips Vitol Trafigura Mercuria Gunvor Group Ltd Tenaska Williams EQT Corporation Koch Industries Twin Eagle EDF NextEra Energy Resources Southwestern Energy Duke Energy Corporation Castleton Commodities International Gunvor Group Ltd Glencore UK PetroChina International bp Worley JGC