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LNG prices under sustained pressure-IEA


* LNG market looks oversupplied in mid-term


* IEA likely to trim long term energy demand forecast


* Oil supply crunch looms


Oversupply

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Natural Gas cartel :still a distant dream

 

 

 
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NEWS Latest News

Korea s Hyundai awarded $2.1 billion LNG facility contract for Gorgon project in Australia
[10/21/2009 9:24:35 AM] 
South Korea's Hyundai Heavy Industries said Wednesday it has won a 2.1-billion-dollar contract to build facilities to produce liquefied natural gas (LNG) off the coast of Western Australia.

Under the deal with energy group Chevron, Hyundai Heavy will deliver 48 modules weighing a total of 190,000 tonnes by 2013 which will be used for the massive Gorgon LNG project.


The modules will be built on Barrow Island near the gasfield to liquefy, refine and produce LNG.


Hyundai Heavy, the world's leading shipbuilder, said in a statement the deal would be its largest single contract.


Chevron, Shell and ExxonMobil last month agreed to develop the Gorgon field, spending some 43 billion Australian dollars (39.25 billion US) in the initial construction phase of the country's largest-ever resources development.

 

 

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