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LNG Update: USG Pricing Color & Mubadala Builds Its NEXT Stake
Updated Pricing Color For U.S. Developers: Cheniere, Shell, Venture Global, Next Decade, Freeport, Annova, Commonwealth, Delfin & More. Over the past week we've had several conversations with LNG buyers, project developers, and downstream operators, with the more...
LNG Update: Frozen 3? Funding Hot Potato For Novatek’s Arctic 2
Keeping An Eye On Budgeting Process For Arctic 2 Who Picks Up The Check For Arctic 2? The timeline for Novatek’s high-profile Arctic LNG 2 (19.8mpta) may have hit a modest speedbump, as the ~$1.9BN request to help finance critical aspects of Arctic 2 [the Utrenneye...
GLNG: Tangled Structure Clouds Golar Power Growth
Golar Treading Water Post Q3 Earnings. GLNG traded up ~1% late last week after posting relatively tepid Q3 results, regaining some early lost-ground following a disappointing headline number (below). While we continue to think GLNG looks washed out here ( ~0.7x our...
Webber R|A: Vertical LNG Weekly
FERC Approves 4 Texas LNG Projects: On 11/21 The Federal Energy Regulatory Commission (FERC) voted in favor (2-1) of all three Brownsville LNG export terminals (below), along with Cheniere’s CC Stage - 3 expansion – granting all 4 projects final approval. Among those...
Webber Research: Global Shipping Weekly
Russia May Delay IMO 2020 Compliance: Russia, a large producer and exporter of high sulfur fuel oil, intends to delay full implementation of IMO 2020 regulations until 2024. This will only be in effect within local waters (including Belarus, Kazakhstan, Armenia and...
LNG Update: Shut-In Cargo At Sempra LNG’s Cameron T1 – How A Freight Fiasco & Narrow Arb Killed A Cargo
First USG Cargo (Technically) Shut-In, After Pavilion Fails To Lift. We believe one of the first LNG cargoes from Sempra’s Cameron LNG T-1 was technically shut-in, after Pavilion Energy (via Mitsui) effectively chose to eat the liquefaction fee while failing to lift...
Cheniere: Previewing Q319 Earnings
Cheniere - Getting Ahead Of LNG/CQP Q319 Earnings... Earlier this week we put our deep dive into Cheniere's Q319 results (LNG/CQP), with a focus on 1) Narrow export arbs and the impact on CMI margins 2) A look at early peak season and floating storage/global...
Webber R|A Call Series: EPC Risks – KMI’s New Elba Island LNG Timeline Likely Slips Materially
Highlights From Webber R|A Conference Call Series W/ EPC Risks CEO, Eric Smith Diving Into EPC Risk: Friday we hosted Eric Smith, CEO of EPC Risks for our inaugural Webber R|A LNG Conference Call Series - which we think was particularly timely as the market gradually...
Webber R|A: Vertical LNG
As part our launch materials for Webber Research & Advisory, we introduced our Vertical LNG presentation series, which includes a full overview of the entire LNG value chain, from Liquefaction to Regas, including our Global Project Rankings, individual company...
Initiating Coverage On The Full Export Infrastructure Spectrum
Coverage Launch & Updated London Agenda: We’re very excited to have formally launched coverage of the LNG space (LNG, CQP, TELL, NEXT, LNGL, GLNG, GLOG, GMLP, GLOP, TGP, etc), Tankers (FRO, DHT, EURN, ASC), LPG Exports (NVGS, LPG), Containers (TRTN, CAI, etc), and...
Webber Research: Q219 ESG Scorecard
Webber Research Q219 ESG Scorecard New Logo, Same Idea. Along with our launch, we also included our Webber Research ESG Scorecard, as we’ll be incorporating additional factors that broadens our models score to include carbon disclosures (below). The scorecard that...