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LNG Destination Clauses May End: IGU

Destination clauses on contracts for liquefied natural gas (LNG)shipments will soon be a thing of the past because of the shale revolution in the United States, the head of the International Gas Union said in an interview. Japan and other buyers of LNG have long complained that the destination clauses on multiple-year term contracts place an unfair restriction on trade of the fuel. Those objections have been rebuffed by producers up until recently, but that is changing as the United States is on the verge of becoming a gas exporter. The conversion of U.S. sites formerly planned as import terminals into liquefaction plants - after its natural gas output surged with the use horizontal hydraulic fracturing - has meant that supplies contracted for deliveries to the United States often have no market. "It will be more and more difficult to maintain destination clauses, based on the recent experience with the reverse of the U.S. market," Jerome Ferrier, the president of the International Gas Union told Reuters in an interview. "It doesn't make sense to send Yemen production with the destination Boston in the U.S. when there is no market and not accepting to send (the cargo) to Asia ... sharing the margin or the advantage of such a reroutage," Ferrier said. Boston, Massachusetts, is the main destination of the few LNG cargoes still heading into the United States


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 from the previous month to $4.10 per mmBtu, the monthly data by the Ministry of Economy, Trade and Industry (METI) showed, down from $14.80 two years ago.  


Oil Ministry Hopes to Get Iran LNG Contract

With the UN referral issue creating uncertainty about India's future relations with Iran, the Petroleum Ministry is fairly assured of the supply of five-million-ton contracted liquefied natural gas (LNG) from Iran. According to the Hindu Business Line, the 5 mt per annum LNG deal was legally binding, which ends speculations that the $20 billion LNG deal with Iran may be in trouble. The ongoing negotiations with Iran are for the additional 2.5 mt per annum


Torghatten Nord Names LNG Supplier for Ferry Fleet

Barents NaturGass AS reportedly won a contract to supply liquefied natural gas (LNG) to Torghatten Nord AS for seven new LNG ferries in one of Norway’s busiest waterways, according to a report on www.ngvglobal.com. The contract takes into consideration the full environmental profile of fuel supply and stipulates that trucks delivering fuel to depots must also be LNG-powered. Torghatten Nord signed the largest ferry contract in Norway, to a value of $238m


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.  


Yamal LNG Bags Contract for 96% output

Image: Yamal LNG

The Yamal LNG project has signed contracts for the sale of 96% of liquefied natural gas (LNG) it produces, Tass news agency reported, citing Evgeny Kot, head of Yamal LNG.   "96%, practically the total volume of LNG we produce will be sold under long term contracts. This means 20-25 years," he said.   According to him, the countries of Asian-Pacific region account for 86% of the contracts.   


LNG Starts Flowing From Oman

Oman began loading liquefied natural gas (LNG) onto a ship last Thursday for its first exports of the gas. "It is being loaded as we speak, and it is expected to be shipped tomorrow morning," Oman LNG spokesman Julian Barnes said. Barnes said the shipment would go to South Korea, a key customer for Oman's future LNG sales. Oman LNG, a $2.5 billion LNG project in the Gulf Arab state, has a 25-year contract to sell 4.1 million tons a year of LNG to Korea Gas Corp


Korean Shipyard Wins LNG Carrier Contracts

LNG Carrier: Photo credit Wiki CCL Wolfgang Meinhart

Hyundai Heavy Industries (HHI) & its affiliated shipyard obtain orders totalling US$1.05 billion to build five liquefied natural gas (LNG) carriers. One of the LNG carriers of 155,000-cubic-metre capacity and worth US$210 million is for Brunei Gas, reports the Oman Daily Observer. HHI's affiliated shipyard, Hyundai Samho Heavy Industries, also won a contract for four 174,000-cubic-metre LNG carriers valued at $840 million from Greece’s Maran Gas


Teekay Order Two More 173,400 cu.m LNG Carriers

Flags displayed at signing: Photo credit Teekay Tankers

Teekay LNG Partners L.P. has exercised two of its three existing options with Daewoo Shipbuilding & Marine Engineering Co., Ltd., (DSME) of South Korea for the construction of two 173,400 cubic meter liquefied natural gas (LNG) carrier newbuildings for delivery in 2016. These two newbuilding LNG carriers are in addition to the two LNG carriers Teekay LNG ordered from DSME in December 2012, which have since secured time-charter employment commencing upon delivery.


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.


Wärtsilä CSSC JV Opens Factory in China

Inaguration of the new factory in China Photo Wärtsilä

CSSC Wärtsilä Engine Co Ltd (CWEC), the joint venture company formed between Wärtsilä and China State Shipbuilding Corporation (CSSC), has formally opened its new production facilities located at Lingang, Shanghai. The opening ceremony took place on 9 January


MOL: LNG Carrier Delivered for SINOPEC LNG Project

At the naming and deliveryceremony on January 6 Photo MOL

Mitsui O.S.K. Lines, Ltd. today announced that the LNG carrier CESI Qingdao — ordered by a joint venture of MOL, China COSCO Shipping Corporation Limited and China Petroleum & Chemical Corporation (SINOPEC) — was delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd


Vard Wins Two Ferries Contract from Torghatten Nord

Ferries for Torghatten Nord - Picture Multi-Maritime Photo VARD

Vard Holdings Limited (“VARD”)secured contracts for the construction of two LNG powered car- and passenger ferries for Torghatten Nord in Norway. The total contract value amounts to approximately NOK 600 million. The new car- and passenger ferries are designed for environmentally


CNOOC Diverted Two LNG Cargoes from Tianjin After Pipeline Fire

China's state-owned energy company CNOOC diverted two cargoes of imported liquefied natural gas (LNG) after a pipeline fire in northern China's Tianjin, though imports were normal as of Monday, traders with knowledge of the matter said on Tuesday.


Petrobangla Signs $950mln Deal with Petronet for LNG Terminal

Photo: Petronet LNG Limited

 Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) signed an initial agreement with India's energy company Petronet LNG Limited to set up an LNG re-gasification terminal on Kutubdia Island and a pipeline at an estimated cost of $950 million.  


Great Ships of 2016: Seri Camellia

(Photo: MISC Berhad)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.”   Seri Camellia - New LNG Carrier for MISC Berhad


Skangas, Statoil Pact for LNG Reload at Klaipeda

Photo: Klaipedos Nafta

 Skangas signed an agreement with Statoil, the Norwegian oil and gas company, for a small-scale LNG reload to take place at the Klaipeda LNG Terminal in Lithuania.    The reload will take place early January 2017. This will be the first reload conducted at the terminal and it is


Wärtsilä, MOL Sign maintenance Deal for Two LNG Carriers

Wärtsilä increases operational safety and predictability for two LNG carriers of MOL LNG Transport (Europe) Ltd. Photo Wartsila

Wärtsilä has signed a ten-year maintenance agreement with MOL LNG Transport Europe Ltd., an affiliate of the Japanese MOL Group. The agreement, which covers two LNG carriers, increases the predictability of the vessels' operations, enhances safety and reduces operational costs


Great Ships of 2016: Polaris

Polaris (Photo: Arctech Helsinki Shipyard)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.”   Polaris - World’s First LNG-Powered Icebreaker


Wison Launches Floating LNG Power Plant Solutions

Photo: Wison

Wison Offshore & Marine has developed a range of solutions for floating power supply. With design philosophy of “plug-in power”, all products which are named W-FSRP series (Wison-Floating Storage Regasification and Power generation) feature integrated functions of LNG loading and


Great Ships of 2016: Ternsund

(Photo: Tärntank Ship Management AB)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.”   Ternsund - LNG fueled tanker with Direct Drive Permanent Magnet Shaft


Gaslog’s New LNGC to Feature Mark V Technology

 Following Samsung Heavy Industries’ (SHI) order announced last October 11, 2016, the new GTT's Mark V technology is confirmed as the technology to equip the new LNG carrier ordered by the European ship-owner Gaslog.   The vessel will be built at SHI's shipyard in Goeje Island


LNG: Lagging, Not Gone

(Photo: Sanmar Shipyard)

Low energy prices, depressed day rates and slow growth of bunkering infrastructure has dampened progress for the marine industry’s ‘white knight’ of environmentally friendly fuels. LNG, nevertheless, is here to stay.    Slow Start


Megastar's First LNG bunkering at Skangas Pori Terminal

Photo Skangas

To be completed at the Meyer Turku shipyard in late January, Tallink’s new liquefied natural gas (LNG) powered fast ferry M/S Megastar was bunkered with LNG for the first time at the newly opened Skangas Pori LNG terminal on January 4. Her maiden voyage will take place from Tallinn to


JERA Imports Japan's First Liquefied Shale Gas Cargo from U.S.

File Image: an LNG carrier (CREDIT: Parker Bestobell)

Japan's JERA Co said on Friday it imported the country's first liquefied shale gas cargo from the United States as part of efforts to diversify its supply.   This also marks Japan's first import of liquefied natural gas (LNG) produced in the contiguous United States






 
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