Marine link

Lng Demand

LNG Shipping Under Pressure from Tumbling European Re-exports

LNG re-exports by European countries. Source Drewry Maritime Research

  LNG shipping freight rates continue to be under pressure from weak Asian demand and a growing fleet. Shipowners are now pinning hopes on a revival in European demand. However, European LNG demand growth will not be sufficient to raise freight rates, according to the newly launched LNG Forecaster report published by global shipping consultancy Drewry. Until the recent fall in oil prices, Asian LNG prices were at a premium compared to piped gas prices in Europe. European traders therefore preferred to re-export cargoes to more profitable Asian markets (see figure below). This helped to create substantial shipping demand as vessels found employment on both legs of the trade, first in import and then in re-export.  However, as Asian demand has weakened, the price differential between Asian LNG and European piped gas has eroded, which has hit re-exports from Europe. Spain, the biggest re-exporter from Europe, shipped 1.3 million tonnes of LNG during the first eight months of the current year, down 40% over the same period last year. But can Europe be the game changer? The recent fall in oil prices has made LNG competitive compared with piped gas, which has the potential to create more demand for LNG in European countries as they seek to diversify their supply base. However, a growing preference for renewable sources of energy and weakening domestic gas consumption will cap any major surge in LNG demand in Europe

LNG: Gas Demand Drives Investment

A bright future is forecast for the LNG industry, as long-term gas demand drives major investment in global LNG facilities. A new report from energy business advisors, Douglas-Westwood (DW), predicts the Pacific basin will be the main contributor to a ten year global investment high of $26 billion per annum by 2015. The report is being launched this week at the 6th FLNG Asia Pacific Summit, Singapore and the 5th Annual Gas Storage Conference, London

Report: LNG Fleet Needs to Expand 66%

The global fleet of tankers carrying liquefied natural gas needs to expand by 66% by 2010 to meet current and future demand from exporters including Qatar, Australia and Nigeria, according to LNG Shipping Solutions, as reported by Bloomberg. About 205 carriers need to be ordered, adding to the 182 ships in service and 127 units already contracted to be built, to meet demand for existing and future LNG projects.,As many as 105 vessels need to be ordered to meet demand for future projects and

Bomin Linde, Lithuanian LNG Terminal sign MoU

OSLO, Feb 19 (Reuters) - Lithuania's liquefied natural gas import terminal and Germany's Bomin Linde LNG will work together to develop the use of LNG as marine fuel in the Baltic Sea, the terminal's operator Klaipedos Nafta said on Thursday. Lithuania opened the first LNG import terminal in the Baltic states last December to cut its dependence on pipeline gas imports from Russia. "In close cooperation both companies aim to jointly develop the LNG fuel market including the necessary

Global LNG-Asia Prices Creep Higher on Japanese Demand

Asian spot liquefied natural gas prices edged higher as scattered demand from Japanese buyers and others helped stem the recent decline in prices, traders said on Friday.   The price of spot LNG for April delivery inched up to $6.75 per million British thermal units (mmBtu) on Friday from $7.65 the previous week, while Europe's benchmark UK gas hub prices slipped to trade at a discount.   "We've seen some end-user demand in Japan," a trader said.  

Lithuania Mulls LNG Exports

Image: Klaipėda State Seaport Authority

 Domestic glut prompts Lithuania  government to consider selling-off surplus gas supplies, reports Reuters. Lithuanian LNG importer Litgas could be about to start re-exporting LNG bought.   Lithuania opened an LNG import terminal in 2014 and started exporting natural gas to neighbouring Estonia earlier this year, breaking the supply monopoly of Gazprom.   The Ministry of Energy forecasts that, in 2016

LNG Bunkering Study Released by LR

LR LNG Bunkering Study: Image credit LR

Key finding is that demand for the deep sea trades could grow significantly if LNG bunkers are competitively priced compared with other fuel options. The 52-page study, which is being launched at Gastech 2012, assesses the likely scale of demand for LNG fuel and LNG-fuelled newbuilds using a unique interactive model of data drawn from major industry stakeholders. The 2011-2012 study says global acceptance of LNG as a marine fuel will depend on the development of a global bunkering

Europe Stockpiling Low Cost, Surplus LNG

Demand from top Asian buyers drops sharply; Asian, European gas price spreads converge. Europe set to becoming dumping ground for LNG. Europe is set to become a dumping ground for the world's unwanted gas supplies this winter as Asian demand for sea-borne shipments fizzles out, leaving dealers to seek out willing buyers at rock bottom prices. Caught in a sharp downward spiral, Asian spot prices for liquefied natural gas (LNG) have more than halved this year as top Japanese and South

Harvey Energy Begins Work for Shell

Harvey Energy

  Gulf Coast Shipyard Group (GCSG) informed that Harvey Energy, the first LNG vessel operating in the United States—for Shell Upstream America’s deep water operations in the Gulf of Mexico—is fully in service. The first of six LNG OSVs being built for Harvey Gulf International Marine, Harvey Energy is the break-out vessel capable of operating on LNG or diesel and is the result of a forward-thinking operator, complex engineering and sophisticated building.

LNG Bunkering Market to Develop at 63.6% CAGR

Photo: Gazprom

 For shipping companies operating in emission control areas (ECAs), liquefied natural gas (LNG) represents an attractive bunkering alternative.    "The lower cost of LNG bunker fuel than other variants of ECA-compliant fuels in Europe and North America is the primary reason boosting the LNG bunker fuel market in the global scenario", says a lead TMR analyst.    Usage of LNG as a ship fuel reduces sulfur oxide (SOx) emissions by 90% to 95% compared to

Deepwater Downturn: Bump in the Road or Long-Term Slowing of Growth?

FPSO per iStock WEB.jpg

IMA/World Energy Reports has just completed a comprehensiveassessment of the five year outlook for the deepwater sector.  The new report – the 19th annual floater market forecast prepared by IMA since 1996 -- provides our forecast of orders for floating production systems between 2016

Swan Energy to Invest $845 mln for FSRU Terminal

Image by Swan Energy Limited

 Swan Energy Limited will invest around Rs. 5,600 crore ($845 mln) towards setting up of Jafrabad LNG Port project in Gujarat with one jetty-moored Floating, Storage and Regasification Unit (FSRU).   The joint venture project by Swan Energy Limited (SEL) and its Belgium partner Exmar

Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin designs of LNG handysize bulk carriers Courtesy Deltamarin

  Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities. The two B.Delta26LNG vessels will be constructed for the Finnish shipowner ESL Shipping Ltd by the

Hoegh LNG Q3 Profits Disappoints

Oslo-listed Hoegh LNG, whose floating plants turn liquefied natural gas (LNG) into gas, reported on Monday third-quarter earnings below forecasts and offered a dividend of $0.10 as expected. Its earnings before interest, tax, depreciation and amortisation (EBITDA) swung to a profit of $26

Lithuania Opens Door to LNG Re-exports

Lithuania's parliament on Tuesday approved amendments which will allow the Baltic state to re-sell liquefied natural gas (LNG) on the international markets, the energy ministry said.   The current laws require the country's regulated energy and heat producers to buy at least 540 million

Swan, EXMAR Partner for India’s First FSRU Terminal

Image: © Swan LNG

EXMAR has entered into a binding Term Sheet with Swan Energy Limited for the joint development and operation of the Jafrabad LNG Port project, to be located in the State of Gujarat, India.   The Jafrabad LNG Port will be a 5 million tons per annum (MTPA) LNG receiving terminal

Deepwater Downturn: Bump in the Road or Long-term Slowdown?

(Image: iStock)

IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016

BMT Fluid Mechanics to Validate FLNG Design

Marlin free surface velocity field

The emergence of the floating liquefied natural gas (FLNG) concept has seen an unprecedented focus on development activity and has reinforced the commercial interest in these facilities. However, as the industry strives to make the concept a reality

Klaipedos Nafta and Port of Helsingborg Sign LNG Deal

Image: AB Klaipėdos nafta

 Lithuania’s Klaipedos Nafta has signed a deal with the port of Helsingborg to cooperate on the HEKLA – Helsingborg & Klaipeda LNG infrastructure facility deployment project (HEKLA).   Klaipedos Nafta has also signed a Memorandum of Understanding (MOU) with the Spanish

Pittsburgh Coalition Receives Marine Air Quality Grant

Rendering of the conversion of an inland towboat to dual fuel diesel/liquid natural gas (LNG). (Image: Bristol Harbor Group)

Cutting-edge Demonstration Project on the Rivers. The Shearer Group, Inc. (TSGI) is proud to be participating with Pittsburgh Region Clean Cities (PRCC) and Clean Fuels Clean Rivers (CFCR) to conduct a marine air quality study centered on the conversion of an inland towboat to dual fuel

LNG Port in Poland Opened

The LNG terminal in Świnoujście. Photo: Polskie LNG S.A

 The Świnoujscie LNG terminal in northern Poland is ready to receive its first shipment of gas, with a tanker leaving Qatar on its way to Poland.      The tanker carrying LNG left Qatar-based Ras Laffan port on last Friday and is heading to the LNG terminal

Honeywell to Automate Finland's First LNG Terminal

The liquid natural gas terminal under construction in Finland. Image credit: SkanGas

 Honeywell has announced that it has received a contract to supply its Experion Process Knowledge System (PKS) automation controls and tank gauging systems for Finland’s first LNG import terminal.   The new terminal will efficiently supply natural gas to marine vessels and

Monadelphous Bags Shell FLNG Contract

Image: The Ichthys LNG Project, one of the world’s largest LNG developments. Photo by Monadelphous Group

 The engineering group Monadelphous has won a $200 million Shell Australia contract on its Prelude floating LNG project off the Kimberley coast.    The contract is for major, long-term maintenance and modifications services for the Prelude Floating Liquefied Natural Gas (FLNG)

Parker Bestobell Marine Launches Compact Valve

Parker Bestobell Marine has launched a new compact version of its Float Isolation Valve (FLIV). The compact FLIV, which is 150mm in diameter and 600mm high, was developed to cater for the use of smaller diameter floats that are now being specified by shipyards for secondary level monitoring

RasGas to Waive $1bln Penalty on LNG Deal

Photo:  RasGas Company Limited

 Qatar-based natural gas producer RasGas will not penalise Petronet LNG for lower offtake of the fuel, says a report by PTI.   Qatar has agreed to waive $1 billion penalty on India for breaking a long-term LNG contract, and has also consented to change the pricing formula to reflect

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