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Golar LNG Restructuring & Equity Offering

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.


Aqualis Offshore Lands Study Job for LNG Barge

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)


LNG Carrier BEIDOU STAR Delivered

LNG Carrier BEIDOU STAR

  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.


Jensen to Design LNG Bunker Barges

Image: Jensen Marine

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


LNG Containment System Upgrade DNV Qualified

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


Bestobell Bags Hat Trick Order in China

Photo courtesy of Bestobell Marine

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


GTT Grants License to India's CSL

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.  


Coming soon: German LNG-powered Ferries

An animated sequence of the AGA Seagas LNG fueling vessel by Bomin Linde LNG GmbH

 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


Harvey Gulf Buys 9 Bee Mar OSV's & to Stretch 5

A Harvey Gulf Vessel: Photo courtesy of Harvey Gulf

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


LNG in marine propulsion: Disruption to Maritime Industry?

LNG Propulsion Photo.jpg

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%


DSME, Sovcomflot Delay Delivery of First Arctic LNG carrier

Yamal LNG project. Photo: PAO Sovcomflot

 South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) and Sovcomflot have agreed to delay a liquefied natural gas carrier being built for the Yamal LNG project in Russia.   According DSME statement the vessel, which was originally scheduled for June this year re-set the


Wartsila's Value of Expediency

The value of expediency Photo Wartsila

Regasifying and storing LNG offshore has allowed customers to import gas without committing to land-based infrastructure. The option also speeds up access to vast amounts of energy. “Wärtsilä focuses on completing the LNG value chain,” says Timo Koponen, Vice President


BMT Awarded LNG Engineering For Côte d’Ivoire

BMT to develop LNG import infrastructure in Côte d’Ivoire. Photo source Star Energie

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavor Energy, for the development of the LNG storage and regasification facility as part of the Songon Gas-to-Power Project in Côte d’Ivoire.  


Yamal LNG Over 50% Complete

Photo: NOVATEK

 Novatek deputy chairman and CFO Mark Gyetvay said the Yamal LNG project in Russia have now passed the 50 percent overall completion mark.   Gyetvay noted that 100 percent of the Yamal LNG’s production capacity has been sold.  


China's CNOOC Expands Fujian LNG Terminal

CNOOCs LNG imports. Photo:Xinhua

 China's biggest liquefied natural gas (LNG) importer CNOOC has started building two storage tanks at a receiving terminal in Fujian province for the super-chilled fuel, the official Xinhua news agency reported.   The new tanks are part of a plan to increase the receiving capacity at


MOL's LNG Carrier KUMUL Delivered

At the naming ceremony Courtesy MOL

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


Cyprus LNG Terminal Non-starter?

Cypriot President Nicos Anastasiades. Photo: Cyprus Govt

 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


Cochin Shipyard, Samsung Heavy Pact for LNG Ship Project

Image: Cochin Shipyard Limited (CSL)

 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.   


UASC, Qatargas and Shell Join to Push LNG as Marine Fuel

Qatargas CEO Khalid bin Khalifa Al Thani (fifth left), United Arab Shipping Company CEO Jorn Hinge (fourth left), and Managing Director and Chairman of Qatar Shell Companies, Michiel Kool (sixth left) along with other officials after the signing ceremony. Photo: Qatargas

 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


LNG Producers Seek New Markets to Soak up Surplus

The world's top producers of liquefied natural gas (LNG) are investing in ship-fuelling operations, floating import terminals and power plants to open new markets and keep from drowning in a fuel surplus expected to last into the next decade.  


GTT, AG&P to Tap Smaller Scale Modular LNG Market

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)


Clough Wins Woodside Contract

Image: Woodside Energy Ltd

 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)


LNG Names New MD

Developing a LNG export terminal. Image: Liquefied Natural Gas Limited

 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


Dynagas Clinches New Time Charter Contracts

OB RIVER. Photo by 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


Dynagas Partners inks long-term deals for two LNG Vessels

Courtesy Dynagas Partners

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






 
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