The Freeport LNG project in Texas started production at its first liquefaction train on Aug. 12 and aims to start commercial operation in the fall this year, Japan's Osaka Gas Co Ltd. and JERA Co. said on Aug. 20.
Osaka Gas and JERA, a joint venture between Tokyo Electric Power Company Holdings Inc. and Chubu Electric Power Co. Inc., will each lift half of the first train's total contracted capacity of about 4.64 million tonnes per annum after commercial production starts.
Freeport has about 20-year liquefaction tolling agreements with Osaka Gas and JERA from Train 1. Under the deal, both companies will secure LNG without destination restrictions, helping them diversify supply sources and price indices, as well as enhance procurement stability and flexibility.
Freeport LNG said last week that it plans to load the first LNG cargo from the Freeport export plant within the next couple of weeks.
Recommended Reading
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Bobby Tudor on Capital Access and Oil, Gas Participation in the Energy Transition
2024-04-05 - Bobby Tudor, the founder and CEO of Artemis Energy Partners, says while public companies are generating cash, private equity firms in the upstream business are facing more difficulties raising new funds, in this Hart Energy Exclusive interview.