Golar LNG Limited announced a major restructuring combined with an intent to conduct an equity offering in its newly formed subsidiary, Golar LNG Energy Limited. Consistent with the announcement made in Golar's first quarter report, Golar has incorporated Energy in Bermuda for the purpose of transferring such part of its asset portfolio which is not employed on long term charters to this entity. The transfer will include the following assets and activities: • the ownership of four modern LNG carriers (Gracilis, Grandis, Granosa and Golar Arctic) • the ownership of three 1970's built LNG carriers (Khannur, Gimi and Hilli) • A 50% ownership interest in another 1970's build LNG carrier (Gandria) • A 13.6% ownership interest in the Australian listed company LNG Ltd. • Golar's current project portfolio • certain financial obligations, notably swap arrangements In addition, Energy will acquire the subsidiary owning the 1970 built LNG carrier Golar Freeze which is scheduled to be converted to an FSRU vessel. The transaction will be structured as a sale by Golar to Energy of its shares in and shareholder loans to the subsidiaries which are the formal owners of the above referred assets. In addition certain contractual rights will be transferred.
Offshore marine and engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis ASA, has been contracted by Gas Entec Co. Ltd to provide an engineering study of a new-build LNG barge that will operate offshore the U.S. The contract value is undisclosed. Aqualis Offshore’s work scope is to provide a Failure Modes and Effects Analysis (FMEA) study for Control and Alarm Monitoring System (CAMS), Emergency Shutdown System (ESDS)
GTT’s Mark III LNG cargo containment system reduces the boil-off rate from LNG carriers by one third. Mark III is GTT’s well-established containment system. This has now been further developed to reduce the boil-off rate from 0.15% to 0.10% of the cargo volume per day. The common industry practice has been to build LNG carriers with boil-off rates of 0.15% of the cargo volume per day, reflecting the typical need for boil-off gas as fuel on board
Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations. Currently no LNG bunkering barges are in operation in American waterways, and these vessels will be among the first to be developed and built
Bestobell Marine, part of the President Engineering Group, has received its third order in the past 12 months from Hudong Zhonghua shipyard in China. The deal involves the supply of 460 cryogenic miniature needle globe valves per ship for four Teekay/CNOOC/China Shipping Group LNG (liquefied natural gas) Carriers to be built at the shipyard, which will be chartered by BG Group. Bestobell Marine has already secured orders for its cryogenic globe and check valves
Mitsui O.S.K. Lines, Ltd. today announced the successful delivery of the LNG carrier BEIDOU STARfrom Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) on November 30. The BEIDOU STAR is the third ship in a series of four new-build LNG carriers that will provide transportation services on long-term charter, for ExxonMobil’s LNG interests in Papua New Guinea and Australia (*1). Before the delivery, the naming ceremony was held at the Hudong shipyard on November 6.
According a new forecast by MEC intelligence nearly 10,000 vessels could be adopting LNG propulsion by 2020 triggering a huge growth in the market. Companies in all aspects of the maritime value chain– oil majors, terminals, ports, bunker suppliers, service companies, component producers, vessel owners and charterers – need to rethink their offerings.” A ground breaking report published by the maritime cleantech market insight firm MEC Intelligence estimates more than 5%
Harvey Gulf International Marine closes its asset purchase purchase deal with Bee Mar LLC. The purchase price for the all-cash sale of Bee Mar's nine Offshore Supply Vessels was US$243-million. Harvey Gulf immediately renamed the vessels consistent with other Harvey Gulf vessels and began seeking bids to stretch 5 of the new vessels to meet 250’ OSV class specifications. Harvey Gulf also announced that it has exercised 2 of its 4 options to construct additional LNG OSV's at TY
Germany’s AG-Ems is preparing to put two liquefied natural gas-diesel dual fuel ferries into operation for the summer season in the North Sea for the first time. They both are powered by Wärtsilä 20DF engines, with fuel to be supplied by Bomin Linde. The 305-foot Ostfriesland is in the final stages of conversion to LNG power at Germany’s BVT (Brenn-und-Verformungstechnik Bremen GmbH) shipyard using two 6-cylinder Wärtsilä 20DF dual-fuel generating
GTT grants a License Agreement to Cochin Shipyard Ltd. for the construction of LNG carriers GTT (Gaztransport & Technigaz) announced it has granted a License Agreement to Cochin Shipyard Ltd. (CSL) for the construction of LNG carriers using GTT's membrane containment systems. CSL, the first Indian shipyard to be licensed by GTT, received this license after completing the GTT qualification process including membrane tank mock-up installation.
Qatargas, United Arab Shipping Company (UASC) and Shell signed a Memorandum of Understanding (MoU) to explore the development of LNG as a marine fuel in the Middle East region. This is the second such agreement signed by Qatargas and Shell in as many months and establishes
Cochin Shipyard Limited (CSL) has signed a memorandum of understanding (MoU) with South Koreas second-largest shipbuilder, Samsung Heavy Industries (SHI) to team up to bid for the GAIL (India) Ltd tender to build liquefied natural gas (LNG) ships.
Cypriot President Nicos Anastasiades has said that building an LNG terminal in Cyprus will depend on discoveries and the results of the country’s third licensing round. Discussing the Cyprus Exclusive Economic Zone’s third licensing round
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced the delivery of the LNG carrier KUMUL at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) in Shanghai on April 29. A naming ceremony was held at the shipyard on April 8
GAIL India has deferred a USD 7-billion tender for hiring nine newly-built ships to ferry liquefied natural gas (LNG) from the US by one month. Bids for the tender were to close on February 29 but now have been extended to March 31.
Norwegian based offshore shipping company Eidesvik Offshore announced it has been awarded contract extensions for the supply vessels Viking Lady and Viking Athene from Total E&P on the Solaris well. The contract is in direct continuation with the current contract.
The first shipment of liquefied natural gas (LNG) from the Australian Chevron's monster $55 billion Gorgon Project has departed Barrow Island yesterday aboard the 2015-built LNG carrier Asia Excellence, US-based energy giant Chevron Corporation said.
Dr. Gerd-Michael Würsig, Business Director LNG fuelled ships at DNV GL – Maritime, looked at some of the current issues in the LNG industry and provided an overview of what DNV GL is doing to support growth in this segment. “The main drivers, in order of importance, are price
Japan’s Tokyo Gas has completed construction of its Hitachi LNG terminal in Hitachi Port area marking the start of operations. The LNG terminal is equipped with a 230,000-kilolitre LNG tank that can hold about 100,000-110,000 tons of chilled gas.
Bangladesh on Thursday signed a deal with Texas-based Excelerate Energy to build its first floating terminal for importing liquefied natural gas (LNG) as it looks to ease chronic energy shortages. The floating storage and regasification unit (FSRU) terminal at Moheshkhali Island in the Bay of
Dynagas LNG Partners LP enters into new long-term time charter agreements for two of its LNG carriers and maintains current level of cash distribution following its latest drop down from its Sponsor Monaco – March 31, 2016 –Dynagas LNG Partners LP
Dynagas LNG Partners, the owner and operator of LNG carriers, has signed an extension and two new charter deals with Gazprom for the 2007-built Ob River until May 1, 2018. In addition, the Partnership has entered into a new long-term time charter agreement with Gazprom
Australia's Liquefied Natural Gas Limited (LNGL) has appointed Chevron executive Greg Vesey to replace company founder Maurice Brand as managing director and chief executive. Brand will continue on with LNG as an executive director until his retirement in June next year
Perth-based Clough has been awarded an engineering services contract by LNG operator Woodside Energy. The contract covers the full spectrum of engineering services including concept and feasibility studies, front-end engineering and design (FEED)
GTT, (Gaztransport & Technigaz), an engineering company specialized in the design of membrane containment systems for the transportation and storage of liquefied gases, has signed a Technical Assistance and License Agreement (TALA) with AG&P (Atlantic, Gulf and Pacific Company)