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MOL, Mitsui Ink Charter Deal

Courtesy  Cameron LNG

  Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This is the third newbuilding vessel chartered by Mitsui & Co., following a contract signed last September 26 for two carriers. MOL will manage the new vessels and transport shale gas-derived liquefied natural gas (LNG) from Cameron Project in Louisiana, the United States. Aiming toward its goal of "solid growth through innovative changes" set forth in the midterm management plan STEER FOR 2020, MOL continues to meet customers' needs for LNG procurement and offer safe, high-quality LNG transport services backed by the experience, know-how, and network accumulated as the world leader in LNG carrier ownership and management. [Outline of charter contract] Shipowner: Wholly owned subsidiary of MOL Charterer: Mitsui & Co., Ltd. Chartering period: Starting around 2019 (up to 25 years) [Profile of newbuilding LNG carriers] Length: 297.5m Breadth: 48.9m Draft: 11.40m Cargo tank capacity: 177,000m3 Shipyard: Mitsubishi Heavy Industries, Ltd. Ship management company: Mitsui O.S.K. Lines, Ltd.


Yamal LNG Inks Deal with Gazprom to Sell LNG in Asia

A trading subsidary of Russian gas producer Yamal LNG has signed a long-term supply contract with a trading subsidiary of Gazprom, under which liquefied natural gas (LNG) produced by Yamal LNG will be sold in Asia, Yamal LNG said on Friday.   The company said in a statement that the contract involved sales of 2.9 million tons of LNG per annum which would be sold to the Asia-Pacific region, primarily India, with the LNG priice indexed to crude oil.  


Keyspan LNG facility – letter of recommendation

The U.S. Coast Guard issued a Notice stating that, in response to a Letter of Intent to modify the Keyspan liquefied natural gas (LNG) facility in Providence, Rhode Island to accept shipments of LNG by water, the Coast Guard is preparing a letter of recommendation as to the suitability of the Narragansett Bay waterways for LNG marine traffic. Comments pertaining to maritime operation and waterways management aspects of the proposed LNG facility modifications should be submitted by


Novatek: Yamal LNG Financing in 2-3 Months

Photo: Novatek

Russian gas producer Novatek expects its Yamal LNG project to secure external financing in the next 2-3 months, Interfax news agency quoted Leonid Mikhelson, Novatek chief executive, as saying on Wednesday. Western sanctions imposed over Moscow's role in the Ukraine crisis have made it harder for Novatek to raise funds for the Yamal project, which is due to start producing liquefied natural gas (LNG) in 2017. (Reporting by Polina Devitt; Editing by Alexander


Chevron Ships First LNG From Gorgon Project

LNG shipment Courtesy Chevron

Chevron Corporation (NYSE: CVX) today announced that its first shipment of liquefied natural gas (LNG) from the Gorgon Project has departed Barrow Island off the northwest coast of Western Australia. The cargo will be delivered to one of Chevron's foundation buyers, Chubu Electric Power, for delivery into Japan. The Asia Excellence loading the first Gorgon liquefied natural gas (LNG) cargo for delivery into Japan. The first cargo highlights the company's growing leadership as an LNG supplier


EGAS: Egypt to tender for 10 LNG Cargoes

Egypt will tender next week to import 10 cargoes of liquefied natural gas (LNG) for delivery in July and August, an official from the state gas company, EGAS, said on Thursday. The official said Egypt would consider importing a further 10 cargoes of LNG, either through direct contracts or through a further international tender, once next week's tender is complete. Egypt relies to a large extent on LNG to generate electricity for its 90 million people.


Qatar Orders World’s Largest LNG Ships

Qatar Gas Transport Company (Nakilat) signed a contract with two South Korean shipbuilders to construct the world's largest liquified natural gas (LNG) carriers at a cost of $2.5bn, according to a report from The Peninsula/Agencies. Nakilat said in a statement that it has ordered three "QMax" LNG carriers with a capacity of 265,000 cubic metres (9.3 million cubic feet) each from Daewoo Shipbuilding and Marine, and another three from Samsung Heavy Industries


Gulf LNG Clean Energy Marine Terminal Project – Meeting

The U.S. Coast Guard is preparing a letter of recommendation as to the suitability of the Pascagoula Bar, Horn Island Pass, Lower Pascagoula Bay, and Bayou Casotte Channels for liquefied natural gas (LNG) marine traffic. The letter of recommendation is in response to a letter of intent submitted by Gulf LNG Clean Energy Marine Terminal Project to operate a LNG facility in Jackson County, Mississippi. A public meeting will be held in Pascagoula on December 7 to receive input


Repsol YPF Eyes LNG Joint Venture

Repsol YPF SA is studying the creation of a joint venture with Tambeyneftgaz and Anadarko for a liquified natural gas (LNG) project in the Yamal Peninsula. The project would transport gas to the west coast of Canada, where it would go through Repsol YPF's regasification plant at Canaport, to be later sold in the US. The company also plans to open an office in Moscow to support its growing business in Russia, to foster opportunities for new partnerships with some of the country's leading


Exxon's New Guinea LNG Plant: 4 August Cargoes

ExxonMobil's Papua New Guinea liquefied natural gas (LNG) export plant is offering to sell four cargoes loading in August to long-term buyers as well as Asian end-users, two traders said. The rapid export rate from the new plant, which was completed ahead of schedule, has helped push global LNG prices lower as major Japanese buyers retreat from spot markets. The plant's main long-term buyers are Japan's Tokyo Electric Power, Osaka Gas and Taiwan's CPC


ABS Group Signs on Elba LNG Project

ABSG Consulting Inc., a subsidiary of ABS Group of Companies, Inc. (ABS Group), has been contracted by Kinder Morgan, Inc. to develop a Maintenance and Integrity Program for the liquefied natural gas (LNG) regasification terminal at Elba Island (Elba LNG Project) near Savannah, Georgia.  


SCF Group Secures Funds for New Arctic LNG Tanker

PAO Sovcomflot (SCF Group) and VTB Bank have signed a $260 million 13-year loan agreement, providing financing of construction of an Arctic liquefied natural gas (LNG) tanker for the Yamal LNG project.   The agreement was signed on June 17, 2016 by Sergey Frank


GasLog Completes $1.05 Bn Financing Facility for Six Vessels

Photo: GasLog Ltd

 Monaco-headquartered owner and operator of liquefied natural gas (LNG) carriers GasLog Ltd. has launched a debt financing of USD 1.05 billion with a number of international banks to re-finance six legacy vessel facilities.   The Legacy Facility Re-financing covers eight on-the-water


VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.   VEB said in a statement that the guarantee would help encourage overseas financing for the Yamal project


Dual-fuel Icebreaker Polaris Presented at CIMAC

Wärtsilä 34DF engine (Image: Wärtsilä)

The design and technical features of Finland's newest icebreaker Polaris were presented on Monday, June 6, in Helsinki as part of the CIMAC World Congress. IB Polaris is the most environmentally friendly diesel-electric icebreaker ever built


India to Boost LNG Impots

Photo: FERC

 India plans to more than double its liquefied natural gas (LNG) import terminal capacity in six years to cater to the rising natgas demand from refineries, fertilizer and power plants, according to a report in the Economic Times.  


Amec Foster Wheeler Bags LNG Terminal Work in India

Photo: Amec Foster Wheeler

 Amec Foster Wheeler has been awarded a contract by Indian Oil LNG Private Ltd. Co. (IOLPL) for the Liquefied Natural Gas (LNG) Terminal in Ennore, Tamil Nadu, on the east coast of India.    This award follows the successful completion of a front end engineering and design


IEA Sees Slower Global Gas Demand Growth to 2021

Growth in natural gas demand will slow to an average 1.5 percent a year globally through 2021, as stagnation in Europe and uncertainty about Chinese consumption offsets robust growth in India, the International Energy Agency (IEA) said on Wednesday.  


French LNG Terminal Workers Plan to Strike

Photo: Elengy

Workers at Elengy's three liquified natural gas (LNG) terminals in France have voted to stage two 24-hour strikes on Thursday and next Tuesday as part of nationwide protests against a labour reform bill, a CGT union official said on Wednesday.  


No New Australian LNG Projects Doesn't Mean No New LNG

Conventional wisdom in the liquefied natural gas (LNG) sector is that no new projects will be built for several years, given the vast cost can't be reconciled with the current low prices.   This view has led some in the industry to predict that the market will flip back to a structural


Novatek: Shareholders to Decide on $600 Mln Loan for Yamal LNG

Photo: Novatek

Russia's largest non-state gas producer Novatek said on Thursday its shareholders would decide on a new loan worth $600 million for the Yamal LNG project on June 20, according to Interfax news agency.   The $27 billion Yamal LNG project envisages three liquefied natural gas (LNG) production


Japan LNG Prices Fall to Lowest in More Than 2 Years

Prices for liquefied natural gas (LNG) spot cargoes for Japan, the world's top buyer, fell in May to the lowest since the trade ministry started publishing figures more than two years ago, official data showed on Thursday.   The average price of spot LNG contracted in May fell by 10 cents


NLNG Adds New Vessels

Image: Nigeria Liquefied Natural Gas Limited

 The Nigeria Liquefied Natural Gas Limited (NLNG) will this month receive the last of the six new vessels it bought for the transportation of liquefied natural gas (LNG) to various parts of the world, says a report in The Nation.  


India Teams up with Japan, South Korea on LNG

Dharmendra Pradhan. Photo: Ministry of Petroleum and Natural Gas

 India plans to form an alliance with Japan and South Korea to buy liquefied natural gas (LNG) at "reasonable prices", the country's oil minister Dharmendra Pradhan said.   India may soon rope China into the alliance as well, he said.  


Teekay Orders LNG Cargo Training Software

Specialist liquefied natural gas (LNG) training and simulation provider GTT Training has been awarded a contract by Teekay Shipping to supply the G-Sim LNG simulator software into its training centers in Glasgow, Manila and Bahrain.  






 
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