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.
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
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
The gas and power division of Royal Dutch/Shell ordered two additional liquefied natural gas (LNG) carriers to support its growing global LNG business. Shell International Gas Limited ordered a membrane-type carrier from South Korea's Daewoo Shipbuilding & Marine Engineering and a moss spherical tank carrier from Japan's Mitsubishi Heavy Industries. Shell did not disclose the price for the orders, but industry sources said the market level for a typical LNG carrier was around $175 million.
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
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
ConocoPhillips announced the finalization of its transaction with Freeport LNG Development, L.P. to participate in a proposed liquefied natural gas (LNG) receiving terminal in Quintana, Brazoria County, Texas. ConocoPhillips has acquired 1 billion cubic feet (BCF) per day of regasification capacity in the terminal, has obtained a 50 percent interest in the general partner managing the venture and will provide substantial construction funding to the venture.
It soon will be easier to import natural gas from fuel tankers, without disruption to shoreline communities and the environment, thanks in part to a new deepwater liquid natural gas (LNG) port approved today by the U.S. Maritime Administration. The LNG port, to be built by El Paso Energy Bridge Gulf of Mexico LLC about 116 miles south of New Orleans in the Gulf of Mexico, is a terminal to process and transfer natural gas received from LNG transport ships to a pipeline system
Shell International Gas Limited (Shell) and Sempra Energy LNG Corp., an affiliate of Sempra Energy, (NYSE:SRE), today announced their intention to form a 50/50 joint venture to build, own and operate a $600 million liquefied natural gas (LNG) receiving terminal in Baja California, Mexico. The terminal is to be located in Costa Azul on the west coast of Mexico, approximately 14 miles north of Ensenada and will be capable of supplying 1 billion cubic feet (Bcf) of natural gas per day
Det Norske Veritas (DNV) & nine key members of the Australian maritime, port and energy sectors have established the four-month study. The Joint Industry Project (JIP) is to facilitate the adoption of LNG fuelled vessels in Australian waters. The use of LNG as marine fuel eliminates SOx and particulate matter emissions, nets a 15% reduction in GHG emissions and diminishes that of NOx by 85-90%, which addresses both local and global pollution issues.
The U.S. Energy Department on Monday renewed ConocoPhillips' permit allowing the company to export liquefied natural gas from Kenai, Alaska to all countries. The approval was expected. The U.S. government has allowed LNG exports from Alaska's Kenai terminal for the past 47 years.
Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering. 22 ports were assessed in the analysis with 18 key questions addressed.
State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.
Brazil's state-run oil company Petroleo Brasileiro SA and Japanese trading house Mitsui Corp will study building a liquefied natural gas (LNG) terminal in the country's southernmost state, Rio Grande do Sul, to supply more fuel for local manufacturers and power generators.
Yamal LNG, a Russian project to produce liquefied natural gas from 2017, has chosen Fluxys' terminal in Zeebrugge, Belgium, as the transhipping point for gas from the peninsula in northern Russia. Russia's Novatek holds 60 percent in Yamal LNG
The liquefied natural gas (LNG) tanker Umm Slal is expected to arrive at Britain's Milford Haven on April 15, according to shipping data on Reuters. The 261,000 cubic metre capacity ship is carrying LNG from Qatar and exited the Suez Canal into the Mediterranean Sea on Monday morning.
The Australian oil and gas industry is telling everybody that a second wave of investment in liquefied natural gas (LNG) plants is at risk unless labour and regulatory costs are cut. The companies are unlikely to get all that they want. In fact they may not get very much at all out of the
Online registration is now open for SHIPPINGInsight 2014, North America’s premier maritime industry technical forum, scheduled for Sept. 30 - Oct. 2, 2014 at the Sheraton Hotel in Stamford, Conn. Now entering its third year
Bestobell Valves, part of the President Engineering Group, said it has received a major boost to its marine division with the award of a new contract for cryogenic cargo globe valves from the Hudong Zhonghua shipyard in China. The multimillion dollar contract will see the U.K
GTT Training Center announces that registration is now open for the first training course to be run at the new center which will take place on June 23, 2014. The course will be a LNG Cargo Operations Course for ships officers and will take place at its facilities in
A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas exports to countries that belong to the World Trade Organization. The legislation, which will be considered by the full House energy
A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas (LNG) exports to countries that belong to the World Trade Organization. The legislation, which will be considered by the full House energy committee
GasAtacama, energy provider to metal producers in Chile's Atacama desert, has lined up eight potential U.S. natural gas suppliers for a proposed import terminal on its Pacific Coast, but uncertainty about energy demand has delayed deals, CEO Rudolf Araneda told Reuters on Thursday.
The Subcommittee on Energy and Power today approved H.R. 6, the Domestic Prosperity and Global Freedom Act, by a vote of 15 to 11. Authored by Rep. Cory Gardner (R-Colo.), the legislation would cut through the red tape blocking exports of U.S. liquefied natural gas (LNG). H.R
When BG Group Plc announced last week it was shifting the headquarters of its oil and liquefied natural gas (LNG) trading operation to Singapore from Britain, it said the aim was to get closer to its customers. Analysts and consultants agreed that the growing importance of Japanese and Korean