Lng Industry

Maritime Administrator Named Government Man of the Year

The Maritime Port Council of Greater New York and Vicinity has named Maritime Administrator Sean T. Connaughton its 2007 Government Man of the Year. During Connaughton’s tenure, the Maritime Administration has pursued crewing initiatives to assure more U.S. mariners may serve aboard international ships, especially those in the Liquefied Natural Gas (LNG) industry; it has also pushed the Marine Highway Initiative, an effort to better use the nation’s waterways and coastal waters to relieve landside congestion in the transportation system; and realigned its operations to better serve the industry and address current challenges.

LNG: $93B Capex in 5 Years

The new Douglas-Westwood LNG report forecasts five-year facilities Capex will exceed $93 billion. A bright future is forecast for the LNG industry, as growing long-term gas demand drives major investment in global LNG facilities. The World LNG Market Report 2011-2015, from award-winning 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

Technip USA Announces Contract Award for the Freeport LNG Terminal

Freeport LNG Development, L.P. and Technip USA Corporation, a subsidiary of Technip have signed a contract for the Front End Engineering Design (FEED) leading to the finalization of the EPC (engineering, procurement and construction) contract for its LNG receiving terminal to be located on Quintana Island near Freeport, Texas. The FEED is expected to be completed by the end of December with the EPC phase of the project beginning in the first quarter of 2004.

Confirmation Arrow Energy to Acquire Bow Energy

Australia’s Arrow Energy Holdings Pty Ltd confirmed that it has entered into a Scheme Implementation Agreement with coal seam gas company Bow Energy Ltd under which Arrow has agreed to acquire all of the shares in Bow for a cash consideration of A$1.52 per Bow share. The offer values Bow at A$535 million.   Bow Board members have unanimously recommended shareholders vote in favour of the offer, in the absence of a superior proposal and subject to an independent expert concluding

Samsung Heavy Industries Building Two Golar LNG Carriers

Golar LNG Limited announces that  the Company  has entered into firm contracts with Samsung Heavy Industries Co. Ltd for a further two LNG carriers. The two additional vessels, each with a capacity of 160,000cbm have a combined total cost of slightly above $400 million. The first of the carriers is scheduled for delivery in the second quarter of 2014 and the second in early 2015. Subject to declaration deadlines

Asia's First Floating LNG Project to Have GE Compressors

GE Oil & Gas to supply gas turbine-driven compressor train technology to Malaysia’s Petronas for a floating liquefied natural gas (FLNG) facility. The start-up of the FLNG facility is scheduled for the fourth quarter of 2015. It will be moored about 180 kilometers off the coast of Bintulu, Sarawak, and is designed to produce 1.2 million tons a year (mtpa) of LNG. Once on stream, the facility will boost Malaysia’s total LNG production capacity to 26.9 mtpa from 25

$630m Drill Ship is Korea's Most Expensive Ship

The most expensive ship among the orders Korean shipbuilders have won this year is a $630m drill ship. Samsung Heavy Industries won a contract from Sweden in October to build the 97,000-ton drill ship, which is 228 m long and 19 m tall. In terms of price, the ship costs the equivalent of five 300,000-ton crude oil carriers (VLCCs) or two or three LNG ships. The next most expensive orders were also for drill ships, worth $550-590 million in second to fifth

LNG Bunkering – Singapore Sets Up Joint Industry Project

Maritime & Port Authority of Singapore (MPA) considers operational feasibility of LNG bunkering A Joint Industry Project (JIP), co-funded through MPA’s MINT fund, is aimed to provide recommendations to the Singapore government authorities on enabling LNG bunkering in Singapore, ensuring operational safety, alignment with industry expectations and best practice, and compliance with relevant international rules, regulations and standards.

DNV to Cooperate with Korea Gas Corporation

DNV and Korea Gas Corporation (KOGAS), Korea’s national gas company, has entered into an agreement to cooperate on a feasibility study on the establishment of an LNG bunkering infrastructure in Korea.   This is one of the largest and most comprehensive feasibility studies ever initiated in the worldwide LNG bunkering industry. Based on this agreement, DNV will qualitatively and quantitatively study the feasibility of implementing LNG bunkering in ports in the south-eastern area

LNG Bunkering Found Feasible in Australian Ports

A DNV-led Joint Industry Project (JIP) concludes attractive payback periods on the required investment are likely. Attractive payback periods from the additional investments required for LNG fuelled shipping, along with no significant legal restrictions hindering development of LNG bunkering in Australia. This is the conclusion of a Joint Industry Project (JIP) focusing on LNG fuelled tugs and OSVs, managed by DNV with nine partners in Australia.