Marine link
 

Lng Contract

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


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.   


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.


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


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.


BP, Pavilion Ink Long-Term LNG Deals

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


C-Job Designs Flettner Freighter for Switijnk

Flettner Freighter (Photo: C-Job Naval Architects)

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile. The contract follows the substantial media attention for the 4,500 DWT Flettner Freighter (the FF4500) which C-Job Naval


Sovcomflot Profits slip

Projects - The company services large-scale energy projects in Russia and abroad, including Sakhalin-1, Sakhalin-2, Prirazlomnoye, Varandey, Tangguh and Peregrino.

Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and


Viking Grace Marks 1,000 LNG Bunkering Milestone

M/S Viking Grace. Photo by Viking Line

 From the very beginning, the M/S Viking Grace – delivered in January 2013 – was an environmental milestone.   The vessel attracted global attention as an environmental pioneer by being the first large passenger vessel to run on liquefied natural gas (LNG).   


Hoegh LNG Profits Dip

Photo: Höegh LNG Partners

 Norway-based owner and operator of floating LNG import terminals, Höegh LNG  reported a second quarter profit after tax of US$3.5 million, down from $6.3 million in the first quarter 2016.   The company’s profit after tax was also down in comparison to the


Matson Orders Two ConRo Ships from NASSCO

Artist rendering of Matson Kanaloa Class vessel. Courtesy General Dynamics NASSCO (Image: Matson, Inc.)

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two new combination container and roll-on/roll-off (Con-Ro) vessels for its Hawaii fleet at a contract price of $511 million for both


MN100: Conrad Shipyard

Johnny Conrad (Photo: Conrad Shipyard)

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both commercial and government markets


SMM 2016: World Premieres from around the Globe

Photo courtesy of SMM

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,150 exhibitors from 67 countries, presenting their most innovative products and services


Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä will supply the re-gasification system for an FSRU conversion project that Höegh LNG plans to carry out on a modern LNG vessel

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel. The contract was signed in August.


Höegh LNG Speeds up FSRU Conversion

Photo Höegh LNG

Höegh LNG Holdings Ltd. today announced that it has signed agreements with Wärtsila Oil and Gas (EPCIC regas) and Moss Maritime (engineering) for its first FSRU conversion project, including the ordering of critical equipment with long lead time.


China Receives First American LNG Cargo

Apollonia passes through the Panama Canals locks on its way to Asia. Photo: Shell

 The first cargo of US liquefied natural gas (LNG) to target the world’s largest energy consumer arrived Monday at the Chinese port of Yantian in Shenzhen near Hong Kong.   The cargo was brought onboard the 161,870-cbm Maran Gas Apollonia


Pakistan Mulls Second LNG Import Terminal

BW LNG. Photo:  BW Group

 BW Group (BW) has signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing a new-build Floating Storage and Regasification Unit (FSRU) for the second Pakistan LNG terminal.  


A Shipyard Grows in Trinidad & Tobago

La Brea_T&T Shipyard Port_FIX..jpg

Spurred by Panama Canal Expansion and U.S. LNG Export, $500 Million Shipyard Projects Starts   As Trinidad and Tobago seeks to diversify its economy, it is banking on a massive shipyard construction project as the centerpiece of a maritime industry and economic revival


Nakilat Upgrades VSAT Service for LNG/LPG Fleet

Photo courtesy of Nakilat

Nakilat, the shipping arm of Qatar’s liquefied natural gas sector, has entered into a contract with Global Eagle Entertainment Inc.’s Emerging Markets Communications (EMC) service line to provide marine VSAT services for vessels in its fleet of liquefied natural gas (LNG) and liquefied


KOGAS to Support Korean Shipyards

Deagu Head Office. Photo: Korea Gas Corp.

 In a bid to help South Korean local shipyard weather their worst-ever slump, the State-run Korea Gas Corp. (KOGAS), the world's largest LNG importer, will soon place shipbuilding and maintenance orders with them, says a report by Yonhap.  


Iran Plans to Ship LNG to Europe

Pic:  Iran Liquefed Natural Gas co

 Iran plans to export Liquefied Natural Gas (LNG) to Europe, Mehr News Agency quoted Iranian Minister of Oil Bijan Zanganeh as saying.   Zanaganeh described Iran’s plan for gas exports to Europe saying “the main objective is to transfer the Iranian product in the form of LNG






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright