A report by US watch-dog, the Government Accountability Office has concluded that the Coast Guard lacks the resources to adequately protect tankers carrying liquefied petroleum or crude oil from a possible terrorist attack.
The report concluded that the Coast Guard is stretched too thin in some cases “to meet its own self-imposed security standards such as […]

ExxonMobil and Oil Search, Papua New Guinea’s leading oil and gas producer, have ditched a $5.5bn plan to build a gas pipeline between PNG and Australia, saying they would focus instead on other more “promising investments” to tap into the vast gas reserves of the Pacific nation.
The decision was anticipated as the project […]

None of the world’s biggest energy companies approved developments last year to increase production of liquefied natural gas, or LNG, according to an article in the International Herald Tribune.
The main reason is the cost to build LNG plants has tripled in six years, according to Bechtel Group, the biggest U.S. contractor.

PetroChina, the country’s largest oil company, has signed a 25-year agreement to buy three million tons of liquefied natural gas a year from Iran to supply terminals it plans to build on China’s northern coast. Gas deliveries will start in 2011. The company is expanding gas production and sales as demand for cleaner-burning fuels increases […]

A quiet revolution is taking place in Louisiana, courtesy of company you have probably never heard of: Cheniere Energy. With help from Exxon Mobil and others, Cheniere are building three new liquefied natural gas terminals that will double America’s capacity to import natural gas by 2011.