Despite some delays, the Indian shipping industry appears to be finally gearing up to develop an LNG (liquefied natural gas) fleet. With India emerging as a major importer of the gas, even the Ministry of Shipping has asked Indian ship-owners in no uncertain terms to take the initiative to develop an LNG fleet, according to a report on - www.thehindubusinessline.com It is estimated that by 2012 India's LNG imports will almost equal Japan's current LNG imports of 60 million tons per annum. And to transport this quantity, the country will need about 25 LNG vessels by 2012 and 34 by 2025. Indian ship-owners are realizing the need to build up an LNG fleet. "Japan transported about 43 perent of its total LNG import of 59.1 million tonnes in 2003 on Japanese owned and controlled ships. Similarly, Korea transported about 61 per cent of its LNG imports of 19.3 million tonnes during that period on Korean controlled ships. In the combined import of Japan and Korea, third party owned ships participation was only 8.3 per cent," points out the Indian National Shipowners Association (INSA) President, Mr Yudhishthir Khatau, according to the published report. Understandably, this kind of LNG fleet development will mean significant value addition to the economy. According to a recent study by TERI, on an average, the value added by the shipping industry to the economy per unit of Gross Registered Tonnage (GRT) acquired is Rs 2,211.
Europe's largest oil company Royal Dutch Shell and French firm GDF Suez are likely to take 26 percent stake each in GAIL India Ltd’s proposed ‘floating LNG import terminal’ at Kakinada in Andhra Pradesh. Andhra Pradesh Gas Distribution Corp (APGDC) – a joint venture of GAIL Gas and Andhra Pradesh Gas Infrastructure Corp (APGIC) will have the remaining 48% share. Shell, GDF and GAIL on Thursday also signed an agreement to procure LNG for the project
The House Homeland Security Committee conducted a hearing entitled Securing LNG Tankers to Protect the Homeland. Chairman Bennie Thompson (D-MS) stated that he was concerned about the significant increase in LNG imports and the increased safety and security risks related thereto. Mr. Jim Wells, Government Accountability Office (GAO), testified that the public safety consequences of a liquefied natural gas spill need clarification. Rear Admiral Brian M
According to an Interfax analysis of customs data, China used just over half its LNG regasification capacity in 2014, as tariff hikes and cheaper competing fuels hit gas demand growth. Slow downstream demand, driven by rising natural gas prices and sluggish GDP growth, coupled with rising pipeline imports and plunging prices of alternative fuels, have halved China's LNG consumption growth, said industry sources.
The Panama Canal Authority (ACP), which administers the canal, is looking at building a Liquefied Natural Gas (LNG) import terminal near the Canal. The ACP has been awarded a US Trade and Development Agency grant to help fund a feasibility study for the project, which it is considering for when the expanded canal is opened next year and the waterway is expected to handle considerable liquefied natural gas tankers.
China's import of liquefied natural gas (LNG) fell 1.1% in 2015, marking the first year-on-year decline since imports began in 2006, according to a report by the US Energy Information Administration (EIA). Chinese LNG imports have grown steadily in the last 10 years, from 0.1 billion cubic feet per day (Bcf/d) in 2006 to 1.3 Bcf/d in 2010, and have more than doubled since then. They reached their peak in 2014 at 2
The U.S. Coast Guard is seeking comments on a proposal it received for construction and operation of a liquefied natural gas (LNG) import facility on the Columbia River in the vicinity of Bradwood, Oregon. The agency will prepare a Letter of Recommendation concerning the suitability of the river for LNG marine traffic. A public meeting on this proposal will be held in Astoria on September 29. Written comments must be submitted by October 6. 70 Fed. Reg. 53677 (HK Law)
Golar LNG Limited signed a share purchase agreement with OLT Energy Toscana SpA in November 2006 for the acquisition of 20% of shares in OLT Offshore LNG Toscana SpA (OLT-O). The purpose of the joint venture company OLT-O is the construction of the Livorno offshore LNG import and regasification terminal, which will be located approximately 20 kilometers off the coast. Source: CCN
The Federal Energy Regulatory Commission (FERC) issued a notice stating that on February 4 it will convene an engineering design and technical conference in Astoria, Oregon with the LNG Development Company LLC regarding the proposed Oregon liquefied natural gas (LNG) import terminal. In view of the nature of the critical energy infrastructure information and security issues to be explored, the cryogenic conference will not be open to the public. 74 Fed. Reg
Lithuania has put plans to buy liquefied natural gas from the United States on hold because the LNG is not yet suitable for the Baltic state's gas system, its state energy company said on Wednesday. Lithuania's system was built to use Russian gas and state energy group Lietuvos Energija said U.S. LNG was much more calorific than Russian gas. The country opened an LNG import terminal in the Baltic Sea at the end of 2014
Pakistan State Oil has dropped plans to buy 60 liquefied natural gas (LNG) cargoes from Royal Dutch Shell after receiving a lower price from Qatar, two trade sources with knowledge of the matter said on Friday. Pakistan was to buy from Shell after the oil major submitted the lowest price in a
Asian spot LNG prices fell this week as top consumer Japan struggled with surplus stock and Chevron's new Gorgon project neared start-up, which will feed into an already oversupplied market. The big worry was about Russia's Sakhalin-2 export plant
State-owned Abu Dhabi National Oil Co. (ADNOC) plans to start a new liquefied natural gas floating import terminal (FSRU) in the second half of this year, three LNG industry sources said. The floating import terminal is being supplied by U.S
Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports, the country's energy minister said on Monday. Russia's Gazprom had enjoyed a supply monopoly until the end of 2014
Finnish gas utility Gasum has abandoned its plans to build the Finngulf liquefied natural gas (LNG) import terminal in Finland with an offshore pipeline connection (known as Balticconnector) to Estonia, reports Reuters. “On the basis of the studies Gasum has conducted
Seven companies reportedly met with Egyptian Natural Gas Holding Co. (EGAS) to discuss an liquified natural gas (LNG) tender, including: Vitol, Noble Group, Trafigura, EDF Trading, PetroChina, Shell and Gas Natural, reports Reuters.
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
Stolt-Nielsen Limited announced today that its subsidiary, Stolt-Nielsen Gas B.V., has purchased 10 percent of the shares in HIGAS S.r.L., with an option to acquire up to 80 percent of the company. HIGAS is a joint venture between Gas and Heat S.p.A. and CPL Concordia Soc
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
Golar LNG Limited announced today that it has executed a firm contract to provide West African Gas Limited (WAGL) with floating storage and regasification unit (FSRU) services to support their liquefied natural gas (LNG) import operations in Ghana.
Crowley Maritime Corp. ’s petroleum distribution group has been granted approval by the U.S. Department of Energy (DOE) and the National Energy Board – Canada (NEB) to import Canadian-sourced liquefied natural gas (LNG) for supply
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
A consortium composed of Teekay LNG Partners L.P., Samsung C&T (Samsung) and Gulf Investment Corporation (GIC) executed today with the Government of the Kingdom of Bahrain the project agreements for the development of an LNG receiving and regasification terminal in Bahrain.
Asian liquefied natural gas (LNG) prices were steady this week amid limited trading activity. The price of Asian spot cargoes for February delivery was pegged at $6.90 per million British thermal units (mmBtu), in line with the previous week.
Government aims for second terminal startup by mid-2017. Pakistan has launched a tender for a second liquefied natural gas (LNG) import terminal, a government official said on Tuesday. The nation of 190 million people can only supply about two-thirds of its gas needs