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
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
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.
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.
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
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
Pavilion to buy 0.4 mln tpy LNG from BP for 20 years. Aims to become a global LNG firm in medium to long term. Working with SGX, regional govts on LNG price marker. Singapore's Pavilion Energy said it had signed two long-term contracts to buy liquefied natural gas (LNG) for trading and supply to Asia, adding to a previous contract as the state-owned firm seeks to become a global supplier. Pavilion Energy said in a statement on Wednesday its wholly owned subsidiary Pavilion Gas Pte Ltd
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.
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
On May 13, 2014 Mitsubishi Corporation, GDF SUEZ and NYK signed a framework agreement aiming to develop the LNG bunkering market worldwide, in the context of international regulations that seek to reduce the impact of shipping activities on the global environment. This partnership now resulted in two concrete contracts: a joint order of an LNG bunkering vessel, the world’s first LNG bunkering vessel with the aim of providing LNG to LNG-fueled vessels; and also an LNG bunkering
GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters. According to preferences and vessel sizes, the deliveries will be split between Dabhol
Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to the new ninth edition of Douglas-Westwood’s (DW) World LNG Market Forecast 2015-2019
ABS has updated its guidance on LNG Bunkering in North America to support the transport sector's increasingly rapid transition to the use of cleaner fuels. The second edition of ABS' Bunkering of Liquefied Natural Gas-fueled Marine Vessels in North America was released today
Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has received an order for one liquefied natural gas carrier (LNGC). The ship will be built by the South Korean shipbuilder Daewoo
Britain's Isle of Grain liquefied natural gas (LNG) import terminal will test whether it can also export supply by loading a quantity of fuel onto inbound tanker Asia Vision on Thursday, a spokeswoman for operator National Grid said. This month National Grid outlined plans to add a reload
Sempra Energy’s subsidiary, Port Arthur LNG, has requested that the US Federal Energy Regulatory Commission (FERC) initiate the pre-filing review for the company’s proposed liquefaction and export facility in Port Arthur, Texas.
Lithuania's state-owned energy group Lietuvos Energija said on Monday national rules had to be changed to allow it to sell some liquefied natural gas (LNG) cargoes it had contracted from Norway's Statoil in the global market as domestic demand falls.
The unmatched track record and expertise that Wärtsilä has in LNG fuel solutions for the marine industry is again emphasised with the company's launching of a new series of LNG Carrier ship designs. This series of designs is the latest addition to Wärtsilä's ship design
The first load of Liquefied Natural Gas (LNG) traded by Qatari supplier, Qatargas, is planned to reach the Port Qasim LNG terminal on March 26, says a report in Reuters. Qatargas is providing the LNG to Pakistan at $8 to $9 per Million British Thermal Units (MMBTU)
Argentina's state-controlled YPF has bought at least five cargoes of liquefied natural gas (LNG) for delivery between April and June, traders said on Friday. Suppliers included Shell, EDF Trading, Petrobras, BP and Excelerate, traders said.
Rolls-Royce has secured a contract with Keppel Shipyard in Singapore to supply two all-gas engines for power generation on-board a Floating Liquefaction Vessel (FLNGV) owned by Golar LNG Ltd. The vessel Hilli was a former LNG carrier and is being converted to a FLNGV carrier.
SGMF membership - uncovered: an interview with Sean Andersen and Tony Haston of Dixon Valve & Coupling The Society for Gas and Marine Fuel (SGMF) recently interviewed members with Sean Andersen and Tony Haston of Dixon Valve & Coupling, who weighed in on their company, its products
USCG completes LNG bunkering regulations with reference to DNV GL’s Recommended Practice Responding to the industry’s need for more guidance on procedures related to liquefied natural gas (LNG) bunkering, the U.S. Coast Guard (USCG) has published two new Policy Letters on LNG
India's state-owned Gail India Ltd would reissue the multi-billion dollar tender to build three massive liquefied natural gas (LNG) carriers in India with “changed norms”, reports Financial Express. There has been news that GAIL has scrapped a tender that would have led
Fjord Line's liquefied natural gas (LNG)-powered newbuildings have claimed a new title as the 'world's cleanest ferries'. The Bergensfjord and Stavangerford have won the respective first and second places on the World Ports Climate Environmental Ship Index (ESI)