Oil and gas industry news: 15 December 2014

Cheniere

Cheniere Energy, Inc. has engaged 18 financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of up to US$11.5 billion of debt facilities. The proceeds will be used to pay for the costs of development and construction of the LNG export facility and related pipeline being developed near Corpus Christi, Texas and for general business purposes. As previously disclosed, estimated capital coats for the proposed liquefaction project of US$11.5 billion to US$12.0 billion, before financing the pipeline facilities, are expected to be funded from a combination of debt and equity financings.

Commencement of construction for the Corpus Christi Liquefaction Project is subject, but not limited to, obtaining regulatory approvals, entering into long term customer contracts sufficient to underpin financing of the project, obtaining financing, and Cheniere making a final investment decision.

HMRC

Two diesel laundering plants, capable of producing nearly 120 000 l of suspected illicit fuel a day, evading almost £12.5 million in taxes a year, have been dismantled by HM Revenue and Customs (HMRC). HMRC officers, accompanied by Merseyside Police, searched three premises on the Wirral and one in Liverpool, where they discovered a laundering plant in the Birkenhead area on 4 December. Over 9000 l of suspected illicit fuel were removed from the site, along with equipment and chemicals. Three men from Merseyside were arrested in connection with the find.

A second laundering plant was discovered after HMRC searched premises in Ashford, Kent. Officers removed 12 000 l of suspected illicit fuel from this site, dismantled the laundering plant and seized chemicals, equipment and separately a fuel tanker. The operation involved over 100 HMRC officers, assisted by Merseyside, Lancashire, Essex, Kent, West Midlands and Staffordshire police forces. A further eight premises were searched during the activity and another five men were arrested in Essex, Landashire and the West Midlands.

Ivanhoe

Ivanhoe Energy Inc. has announced the resignation of Peter G. Meredith from the company’s Board of Directors, effective 12 December. Meredith has served as a director of the company since December 2007 and also from 1996 – 1999. The directors and the management of the company thank Meredith for his hard work, dedication and contribution over the many years and wish him success in his other business endeavors.

Technip

Technip has entered into an agreement with Air Liquide Global E&C Solutions Germany to purchase all of its Zimmer polymer technology business. Based in Frankfurt, Germany, the business includes technologies for the processing of polyesters and polyamides, research and development facilities, and a team of approximately 40 skilled engineers, researchers and project realms. Technip is planning to integrate the new polymers technology business through Technip Stone & Webster Process Technology, the onshore global business unit formed in 2012 to manage the company’s expanding portfolio of downstream process technologies.

Stan Knez, Senior VP, Technip Stone & Webster Process Technology said, “the state of the art Zimmer polymer technology portfolio and the team’s 60 years of experience in the industry will reinforce our focus on technology as a way to differentiate us from our competitors. We look forward to welcoming this talented group to the Technip team.”

Edited from press releases by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/15122014/oil-gas-news-15-dec-14/