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Golar LNG Restructuring & Equity Offering

Golar LNG Limited announced a major restructuring combined with an intent to conduct an equity offering in its newly formed subsidiary, Golar LNG Energy Limited. Consistent with the announcement made in Golar's first quarter report, Golar has incorporated Energy in Bermuda for the purpose of transferring such part of its asset portfolio which is not employed on long term charters to this entity. The transfer will include the following assets and activities: •    the ownership of four modern LNG carriers (Gracilis, Grandis, Granosa and Golar Arctic) •    the ownership of three 1970's built LNG carriers  (Khannur, Gimi and Hilli) •    A 50% ownership interest in another 1970's build LNG carrier (Gandria) •    A 13.6% ownership interest in the Australian listed company LNG Ltd. •    Golar's current project portfolio •    certain financial obligations, notably swap arrangements In addition, Energy will acquire the subsidiary owning the 1970 built LNG carrier Golar Freeze which is scheduled to be converted to an FSRU vessel.   The transaction will be structured as a sale by Golar to Energy of its shares in and shareholder loans to the subsidiaries which are the formal owners of the above referred assets. In addition certain contractual rights will be transferred.


Smith Named CEO of Golar LNG

Photo: Golar LNG

Gary Smith will take over as CEO of Golar LNG limited, taking over for Doug Arnell, who will step down on February 1, 2015.   Smith brings a track record of leadership and operational management in the mid-stream oil and gas, shipping and LNG businesses. His career spans 35 years, including 25 years with Shell and Caltex Australia (a Chevron affiliate) in roles including General Manager LNG Shipping for Shell (STASCO) and General Manager Refining


GOLAR LNG LIMITED - Further New Building LNG Carriers

GOLAR LNG.bmp

Golar LNG Limited ("Golar" or the "Company") is pleased to announce in furtherance of its recent press release regarding new buildings, that it has acquired further firm contracts to build two additional 160,000 m3 LNG carriers with the Korean shipbuilder Samsung Heavy Industries Co Ltd ("Samsung"). The newbuilding contracts were originally entered into by Companies affiliated with Golar's largest shareholder World Shipholding


Keppel to Convert Second FLNGV for Golar

Keppel to convert second FLNG vessel

  Keppel Shipyard Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, informed that it is in the process of finalising contracts with Golar Gimi Limited (Golar Gimi), a subsidiary of Golar LNG Limited (Golar LNG), to perform the conversion of a second Moss LNG carrier, the GIMI, into a Floating Liquefaction Vessel (FLNGV). Earlier on 3 July 2014, Keppel Shipyard was awarded a firm contract by Golar Hilli Corporation (Golar Hilli) to perform the world's


Teekay LNG Acquires Interests in Four LNG Newbuildings

Photo coutesy of Teekay LNG

Teekay LNG Partners L.P. announced that it has acquired from BG Group ownership interests in four 174,000 cubic meter Tri-Fuel Diesel Electric (TFDE) liquefied natural gas (LNG) carrier newbuildings, which will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China. The vessels, which are scheduled to deliver between September 2017 and January 2019, will each operate under 20-year time-charter contracts, plus extension options, with Methane Services Limited


LNG Regassification Terminal for Canaport

The initial phase of construction for the Canaport LNG project begins this week at Irving Canaport. Clearing of the site was completed in May 2005. The initial construction phase involves site excavation and leveling, and is the precursor to full-scale construction. Front end engineering design for the project is now complete, and Canaport LNG issued a request for proposals for engineering, procurement and


China Bankrolls LNG Carrier Newbuildings

LNG carrier: File photo

The Export-Import Bank of China, a wholly state-owned bank has informed official news agency Xinhua that it is to lend US$400-million U.S. dollars to four separate shipowning companies.for building 4 liquified natural gas (LNG) carriers in a Shanghai shipyard. Citing information from the bank, Xinhua reports that the four carriers, each with a shipment capacity of 174,000 cubic meters are for: CNOOC Energy Technology and Services, China LNG Shipping Limited


Thor-Lube Bearing Receives Orders

Thordon Bearings Inc. of Canada recently received orders for environmentally friendly Thor-Lube sealed stern tube bearing systems for three LNG carrier newbuild projects in Korea and Japan. Daewoo Shipbuilding & Marine Engineering Co. Ltd ordered systems for two ships, one for Shell International Gas Limited and the second for the Australian LNG Ship Operating Co. (ALSOC). Mitsubishi Heavy Industries (MHI) of Japan ordered the third system for a second Shell newbuild


LNG Changeover Log-jam in N. American ECA

Image courtesy of DNV

The IMO (International Maritime Organization) has chosen DNV to gather knowledge about the potential of LNG powered international shipping in the North American Emission Control Area (ECA) and identify the necessary conditions for the successful implementation of LNG as a fuel source in the region. Natural gas is a widely available fuel across North America, but availability of LNG is limited, as the demand and supply side are waiting for each other, partly held up by logistical problems


FERC Accepts Kinder Morgan's Application

Proposed  Magnolia LNG Project

Liquefied Natural Gas Limited (LNGL) informs that the US   Federal Energy Regulatory Commission (FERC) has accepted Kinder Morgan  Louisiana Pipeline LLC’s (KMLP) application pursuant to Section 7(c) of the Natural Gas Act for the Lake Charles  Expansion  Project


Adani Group Revamps Businesses

Adani Ports and Special Economic Zone Limited

  Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced a composite Scheme of Arrangement (“Scheme”) for the demerger of the ‘Port


Tohoku Electric's LNG Buy Sets Asian Spot Level

Japanese utility Tohoku Electric has purchased an LNG cargo for delivery in the third week of March at a price in the low $7 per million British thermal unit (mmBtu) range, pushing Asian benchmark spot LNG prices lower, traders said. Tohoku's tender to buy one cargo closed this week


Yemen Lifts Force Majeure on LNG Deliveries

Yemen on Friday lifted force majeure on liquefied natural gas (LNG) deliveries from its Balhaf plant, trading sources with knowledge of the matter said. Reuters reported last week that the 6.7-million-tonne-per-year gas export terminal, operated by France's Total


Wärtsilä to Power LNG-fueled RoPax Ferry

Image courtesy of Wärtsilä

A ferry being built for Sweden’s Rederi AB Gotland will be fueled by LNG, featuring a Wärtsilä integrated solution which includes a complete LNG powered propulsion- and fuel storage and supply system, as well as comprehensive project services


First Container for LNG Hybrid Barge

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The HUMMEL (bumblebee) LNG Hybrid Barge will enable Becker Marine Systems to supply low-emission power to cruise ships lying at port in Hamburg. The first container with LNG fuel has arrived in the Hanseatic City. The barge works like a floating power plant and uses LNG to supply


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


Mitsui Orders 2 LNG Carriers from MHI

Moss-type tanks

Mitsubishi Heavy Industries, Ltd. (MHI) reports it has received an order for two next-generation LNG (liquefied natural gas) carriers from Mitsui & Co., Ltd., scheduled for completion and delivery in 2018 and 2019, respectively. They will be put into service for the Cameron LNG Project


US House Passes Bill to Pressure Regulators on LNG Exports

The U.S. House of Representatives passed a bill on Wednesday to speed permits for exports of natural gas, a measure that even if passed by the Senate and signed into law by President Barack Obama, is not expected to help bring much new fuel to global markets.  


DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered membrane containment systems from designer GTT.   These five ARC 7 LNGCs for Yamal Trade are expected to be delivered


GTT to Exhibit at Euromaritime

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), will exhibit at Euromaritime, the European Marine Business Show, from February 3-5, 2015 in Paris, Porte de Versailles.  


Bomb Threat Cut Lithuania LNG Terminal Output

Gas supply from Lithuania's liquefied natural gas (LNG) import terminal was interrupted on Wednesday due to a bomb threat that later turned out to be a hoax, the terminal's operator Klaipedos Nafta said on Wednesday. The terminal is now preparing to restart, a spokeswoman said.


Wärtsilä Propulsion Solution for 3 Tugs

Wärtsilä 34DF

  Three large new escort tugs contracted by Norwegian operator Østensjø Rederi, will feature Wärtsilä dual-fuel (DF) engines integrated with a customized gas storage and supply system also supplied by Wärtsilä


Danish Port Gets EU Funding for LNG Bunkering

Image: Port of Hirtshals in Denmark

Port of Hirtshals in Denmark will receive over EUR1 million a pilot construction of the first liquefied natural gas (LNG) tank and bunker, co-financed by EU’s TEN-T Program.  The pilot project will see construction of a 500 cubic meter LNG storage tank and bunkering facility


CFE to Lift Eight LNG Cargoes

Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume, selling seven cargoes, while oil major BP sold the remaining cargo, two traders said.


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.  






 
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