Cheniere's Sabine Pass readies for fifth LNG export shipmentCheniere's Sabine Pass LNG export terminal is expected to ship its fifth cargo since start-up as the 162,400 cbm BW GDF Suez Brussels LNG carrier heads towards the Louisiana facility.
Shipping data reveals that the vessel is scheduled to dock at the Sabine Pass LNG export facility on April 5.
According to Genscape Inc., that has infrared cameras pointed at the export plant, the fourth cargo departed from the facility aboard Energy Atlantic on March 28.
The carrier was scheduled to pick up the first Sabine Pass cargo, but has been idling offshore the terminal for months.
However, the exact destination of the cargo is not known at the moment. The cargo could be heading towards Brazil but also it could be on its way to Kuwait and the Mina Al Ahmadi FSRU terminal, Genscape said.
It was recently reported that Brazil could be the most likely destination of seven of the eight to ten commissioning cargoes from Cheniere's terminal.
The report revealed that Sabine Pass LNG commissioning cargoes have a higher ethane content, and Petrobras' terminal at the Guanabara bay has the infrastructure to handle the high ethane cargoes.
The Guanabara terminal near Rio de Janeiro received the first cargo shipped from Cheniere's facility after it was diverted from its initial destination, the Bahia regasification terminal in All Saints’ Bay, Salvador.
With USA production going down to a possible 8Mbpd and Latin American countries following the Russia Saudi freeze, it won't be long to $50 oil. Possible $70 by the Fourth of July.
Oil's five-month high coincides with the comments of the most powerful man in Russian oil, Igor Sechin, who on Tuesday morning at a conference in Switzerland said oil prices couldn't stay low for much longer.
Sechin, the chief executive of Russia's state oil company, Rosneft, says the price of oil will not stay low, thanks to declining US output.
"The oil price is growing. I think everyone is expecting the successful outcome of our work," Sechin said, adding: "We will need higher price levels than $45 or even $50 a barrel." Sechin was speaking at a Financial Times commodity conference in Lausanne.
Sechin has previously been dubbed the "scariest man on earth," the "second most powerful man in Russia," and "Darth Vader" thanks to his huge influence over Russia's dominant oil industry and his close relationship with President Vladimir Putin.
6 reasons why oil stocks will be the best investment this year in this Huffington post article.
He'll try and say anything to hold down the price.
Mikey, your little friends are wrong. They have been affected by the skepticism of a skeptical age. They do not believe except [what] they see. They think that nothing can be which is not comprehensible by their little minds. All minds, Mikey, whether they be men's or children's, are little. In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge.
Yes, Mikey, there is a Santa Claus. He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy. Alas! how dreary would be the world if there were no Santa Claus. It would be as dreary as if there were no Mikeys. There would be no childlike faith then, no poetry, no romance to make tolerable this existence. We should have no enjoyment, except in sense and sight. The eternal light with which childhood fills the world would be extinguished.
Because of increased demand and lower production.
1. The U.S. natural gas “set-up” could be very bullish by the fourth quarter of 2016. The storage surplus is expected to decline as production is falling and capital formation on regulatory condition for the infrastructure remain challenging.
2. The decrease in March supply may mark the beginning of the rollover of U.S. natural gas supply.
24/7 Wall St.
Merrill Lynch Has 3 Top Energy Stocks Rated Buy Yielding 4.5% or More
3. The natural gas rig count is at the lowest level on record. Only 88 rigs are currently in operation. That is down a stunning 95% from the all-time highs in 2008.
4. Natural gas spending is down a huge, about 50% in 2016, and that is after an additional decline of around 30% in 2015.
5. U.S. natural gas demand continues to grow. Last year marked the sixth consecutive year of growth for U.S. demand. Jefferies cites the massive switch from coal as a major reason. In fact, for the first time ever in 2015, natural gas overtook coal as the top generation fuel for U.S. power.
6. Gas exports to Mexico continue to grow. In fact, exports to Mexico have grown for five consecutive years and ran above seasonal highs last year.
7. Producers can’t just turn production back on. The activation time to be back up and producing is posted in the report as six to nine months from what the analyst calls the “time zero” capital decision. Hardly like flipping a switch.
8. The top producing areas, like the Marcellus and Utica shales, are becoming pipeline short. The analysts note that there are limits on pipeline evacuation to the demand centers, which has created what they call severe bottlenecks. The future for new evacuation is murky at best, it appears.
No matter how much press shorty has bought to muddy up the "oil freeze", the Saudis want higher prices.
Saudi Aramco Sees Oil Rising as Demand Catches Up With Supply
March 21, 2016 — 8:56 AM PDT
Oil price will not rise to 2013-2014 levels: Saudi Aramco CEO
Saudi company looking for more energy investments in China
Oil prices will increase by the end of this year but won’t rebound to levels reached in 2013 and 2014, according to Amin H. Nasser, president and chief executive officer of Saudi Arabian Oil Co.
Prices will gain as “the gap between supply and demand in the oil market is shrinking,” Nasser said at an event in Beijing on Monday. Oil exceeded $100 a barrel in 2013 and 2014 before dropping amid a global glut. Benchmark Brent crude was trading on Monday at $40.21 a barrel in London.
The world’s largest crude oil-producing company, known as Saudi Aramco, is looking to boost investments in the Chinese energy industry, he said.
Since shares are up even as natural gas prices remain low, Cramer mentioned that management should do a 116 million share offering to ensure they have no problems paying off the company's 2017 debt.
"If I were Chesapeake management, I'd say, we're getting a chance here without natural gas rallying, we have people coming in that want stock, let's give them stock and take 2017 off the table" Cramer said. "At this point, you wait for the deal."
What he really means is: shorty can't cover because of the high volume of buying. Dilute the stock so that shorty can get out at a set price in the offering.
So they go broke. It'll be the last time that the Saudis do a price war. No money and nothing to show for it. OPEC totally destroyed with half of OPEC country governments broke and gone.
They have two choices. Remain inside and burn to death or head for the exit and get blown up. There's no smiles in Stortsville today.
Horrible capitalist is right. It looks like he had no ethics.