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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


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


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


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


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


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


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


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


Interview: Nakilat's Samir Bailouni

Samir Bailouni (Photo: SGMF)

SGMF Membership - Uncovered: An interview with Samir Bailouni, Nakilat The Society for Gas and Marine Fuel (SGMF) recently interviewed one of its members, Samir Bailouni of Nakilat (Qatar Gas Transport Co.). Bailouni weights in on Nakilat, LNG, the gas industry, and SGMF membership.  


'K' Line to Shrink Container Fleet

Image: K Line

 Japan's third-biggest shipping company Kawasaki Kisen Kaisha ('K' Line) plans to beef up its LNG and bulker vessels over the next four years, while downsizing its container shipping fleet.   The group plans to reduce its fleet of container ships from 70 to 61; however


EC Study on LNG as Shipping Fuel Reveals Industry Backing

LNG carrier LNG Pioneer. By MOL

 As efforts to combat climate change increase worldwide, pollution stemming from maritime shipping presents a particular challenge.     The study on the perception of the risks and opportunities of LNG as a shipping fuel is presented by the European Commission.  


BG Group's Australian Project Helping to Double LNG Supplies

A smooth start to operations at BG Group's Australian project in Queensland is expected to help the British company to roughly double its liquefied natural gas (LNG) supplies in 2015/16, it said on Wednesday. Seven cargoes have been shipped since December from the Queensland Curtis LNG facility


GTT Receives Order for LNG Bunker Barge

Image: GTT

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of LNG liquefied natural gas (LNG), announced that its U.S. subsidiary GTT North America (GTTNA) has received an order for one LNG bunker barge.  


Asia: LPG Shipping and LNG Pricing

Image: Navigator Gas

 While declining Asian LNG prices have reduced margins on the long-distance LNG trade, causing spot-charter rates for LNG vessels to fall, LPG shipping earnings are forecast to remain buoyant on the back of low oil prices and the absence of fuel substitution.  


Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather and Brazilian demand leave tankers torn over where to sail. The region's gas markets


Brookings Institution Hosting Panels on LNG Marine Fuel

The Brookings Institutions Charles Ebinger will moderate the panels (Photo courtesy of the Brookings Institution)

The Brookings Institution, a Washington D.C.-based think tank, will host a two-panel discussion on the use of LNG as a marine fuel on Tuesday, March 3, the organization announced today. The panels are part of the Institution's Energy Security and Climate Initiative (ESCI)


Conrad Shipyard Bags LNG Order

Image: Conrad Shipyard

 Energy infrastructure and LNG solutions provider WesPac Midstream and its subsidiary Clean Marine Energy (CME) have awarded a contract to Conrad Orange Shipyard for the construction of a dedicated LNG bunker barge for the marine market in North America.  


Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia. Litgas said on Friday it had signed a memorandum of understanding (MOU) with Delfin LNG


Davie Building LNG-powered Ferries

Photo courtesy of Davie

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under construction at Davie for the Société des traversiers du Québec (STQ).


GasLog Post 4Q 2014 Results

GasLog

  GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31, 2014. Highlights •         Agreement to acquire two


ADB Okays $30mln for Pak LNG Terminal

Image: Port Qasim

 The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s first liquefied natural gas (LNG) regasification terminal at the Port Qasim.  


Tallink & Meyer Turku to Build LNG Ferry

Meyer Turku is very happy to continue the long and good tradition to build ferries for Tallink

  AS Tallink Grupp and Meyer Turku Oy signed a contract for the construction of LNG powered fast ferry for Tallinn-Helsinki route shuttle operations. The dual fuel ship will be about 212 metres in length with a passenger capacity of 2800


Eniram to Provide Boil-off Management for LNG Sector

Eniram Limited, the Finnish provider of energy management technology and data analytic services to the shipping industry, announced that it is releasing an onboard and onshore Boil-off Management Tool designed for LNG carriers.   Eniram’s Boil-off Management Tool enables






 
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