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Lng Market

TEN Enters Four-Year Time Charter

Tsakos Energy Navigation Ltd. ("TEN") (NYSE: TNP) has announced a four-year time charter for the 2007-built 150,000 m3 LNG carrier Neo Energy to a major international energy concern. The charter is expected to commence in the first quarter of next year upon expiration of the vessel’s existing employment. This new charter, in line with current market levels, is anticipated to make a significant contribution to the bottom line over its duration. “The operational performance of the Neo Energy since delivery in 2007 coupled with the current strength in the LNG markets has enabled us to secure an attractive employment for the vessel over the next four years,” stated Mr. Nikolas P. Tsakos, President and Chief Executive Officer of TEN. “The LNG market remains a close-knit and selective sector with demanding operating procedures. TEN has qualified as a reliable owner and operator of LNG tonnage and gained the acceptance of the LNG community worldwide. We view LNG transportation as integral in the overall energy chain, and we will continue to explore tangible opportunities in order to expand our footprint in this promising sector,” Mr. Tsakos concluded.


Crowley Enters LNG Market

Thomas B. Crowley, Jr., Crowley CEO, COO, COB, President (Photo: Crowley)

Crowley Maritime Corporation's petroleum services group is entering the Liquefied Natural Gas (LNG) market by acquiring Carib Energy LLC.  Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S. Department of Energy (DOE) for LNG transportation from the U.S. into Free Trade Agreement (FTA) countries. While Crowley’s overall strategic focus on the LNG market will span several of its diversified business


China Steps Up with LNG

China has made concrete progress in shipbuilding. In September 2007, the first LNG (Liquefied Natural Gas) ship made by China State Shipbuilding Corporation (CSSC) will be delivered, reported the state-run Xinhua News Agency on February 19, 2007. The LNG ship has a capacity of around 47,199 cubic meter and is currently under-construction by Hudong-Zhonghua Shipbuilding, an arm of CSSC, the topmost shipping group in China and third largest in the world.


TEN Enters LNG Market

Tsakos Energy Navigation Limited (TEN) announced that it had signed a contract for the construction of a Liquefied Natural Gas (LNG) carrier. The 150,000 cubic meter capacity vessel will be built by Hyundai Heavy Industries in Korea, and is scheduled for delivery in March of 2007. Today's contract represents TEN's first newbuilding order in the rapidly growing LNG market. TEN also expects to receive 6 suezmaxes and 6 product carriers between 2004 and 2007 and remains engaged in


LNG: Gas Demand Drives Investment

A bright future is forecast for the LNG industry, as long-term gas demand drives major investment in global LNG facilities. A new report from 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. The report is being launched this week at the 6th FLNG Asia Pacific Summit, Singapore and the 5th Annual Gas Storage Conference, London


Qatargas Signs 5-year UK LNG Supply Contract

LNG SPA signing: Photo credit Qatargas

Qatar Liquefied Gas Company Limited (Qatargas) and Petronas LNG (UK) Limited  have signed a 5-year Sales and Purchase Agreement (SPA) for shipment of an annual LNG volume of 1.14 million tones, to the UK, effective January 2014. The LNG will be supplied from Qatargas 4 (Train 7), a joint venture between Qatar Petroleum and Shell which started production in January 2011, and will be delivered on board Q-Flex LNG Vessels to Petronas’ Dragon LNG Terminal located in Milford Haven


Wärtsilä Hamworthy Wins Another Höegh FSRU Contract

FSRU Construction: Photo credit Wärtsilä Hamworthy

Hamworthy Oil & Gas Systems win contract for LNG regasification technology for a third Höegh LNG Floating Storage and Regasification Unit (FSRU) Working together with Sinopacific Offshore and Engineering (SOE) Wärtsilä Hamworthy will design and supply the system concept whilst the key equipment and fabrication will be supplied by SOE. The floating regasification market is experiencing significant uptake and Höegh have projected annual growth in the LNG market of


First Angola LNG Transits South Atlantic

Angolan LNG arrival: Photo credit Angola LNG

The 160,000 m3 cargo - which left Soyo aboard the SS SONANGOL SAMBIZANGA last month - has been safely unloaded at Petrobras' regasification terminal in Guanabara Bay, Rio de Janeiro. CEO, Angola LNG Marketing Ltd. said: "Our main priority is safe and reliable production and delivery of Angolan LNG to the world.  We have demonstrated this with our first cargo." At full production it is expected that over 70 cargoes per year will leave the Angola LNG plant, supplying 5


GDF SUEZ Gas: Non-Binding LNG Supply Offering

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Company plans to supply LNG to the northeastern U.S. via its advance LNG Project   GDF SUEZ Gas NA has announced  the advanceLNG Project, an initiative to provide attractively priced LNG to a wide array of customers in the U.S. Northeast. Starting today through December 31, 2013, GDF SUEZ Gas NA is accepting non-binding bids for LNG supply from the proposed project.     While LNG from GDF SUEZ Gas NA's facility in Everett


Gazprom & Shell Agree Roadmap for Sakhalin ll LNG Project

LNG plant in Sakhalin: Image courtesy Gazprom

Gazprom inform that Alexey Miller, Chairman of the Gazprom Management Committee and Ben van Beurden, Chief Executive Officer of Shell, met in Sochi and signed a document that that envisages the preparation of FEED documentation for the third LNG production train within the Sakhalin II project. “The global LNG market is booming – primarily in Asian countries. Novel LNG production capacities are the key to achieving a strong position


Wärtsilä's JV with CSSC to Expands Engines Range

  Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co


Wilhelmsen Secures Inert Gas System Orders

Breakthrough order in Japanese shipbuilding market sees largest ever capacity Maritime Protection IG units delivered for leading domestic owners. Wilhelmsen Technical Solutions (WTS) has secured multiple orders to supply its Maritime Protection Dry Inert Gas Generator (DIGG) systems for


FLNG Prelude: A New Dawn in the Age of Maritime & Energy

(Photo: Courtesy Royal Dutch Shell)

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting, game-changing floating liquid natural gas (FLNG) facility will serve as a prelude to a killing in the offshore


FortisBC Set to Expand its Tilbury LNG Facility

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FortisBC Energy Inc. today selected Bechtel Canada Co. (Bechtel) as the contractor for its Tilbury LNG Facility Expansion Project in Delta, B.C. (Project). The selection of Bechtel took place after a competitive procurement process. Bechtel brings global experience in the development of LNG


ODC Awarded GTT License for LNG Market

Photo courtesy of ODC

Oman Drydock Company (ODC) said it has made a “giant leap” forward in its campaign to become one of the leading shipyards in the world for LNG repairs after it was formally awarded the \ Gaztransport & Technigaz (GTT) license at the Posidonia Shipping Trade Fair in Athens, Greece


LNG America & Liquiline Join Hands in Marine Fuel Market

LNG ship bunering in Europe: File photo

LNG America and Liquiline announce an agreement to jointly develop commercial offerings for LNG marine fuel markets in the North American Pacific Northwest and the transport of LNG in ISO containers to remote markets in Hawaii and Alaska. The parties to the agreement explain that each brings


Texas LNG Gets Approval To Export LNG To FTA countries

Texas LNG’s liquefaction plan at its 110 acre complex at the Port of Brownsville

  Texas LNG LLC today announced that it has received authorization from the U.S. Department of Energy (DOE) to export domestically produced LNG to all existing, and any future, countries that have, or enter into, an FTA with the Government of the United States


Exxon's New Guinea LNG Plant: 4 August Cargoes

ExxonMobil's Papua New Guinea liquefied natural gas (LNG) export plant is offering to sell four cargoes loading in August to long-term buyers as well as Asian end-users, two traders said. The rapid export rate from the new plant, which was completed ahead of schedule


Excelerate Energy & the Year of LNG

“Consider, for example, that South America was not an LNG consuming region seven years ago. In 2014, more than 100 cargoes will be sold there. As floating technologies gain acceptance, there will continue to be a big shift in the market demographics.”  Edward Scott, COO,  Excelerate Energy

This being the “Yearbook” edition of Maritime Reporter & Engineering News, it would be remiss to not have coverage of LNG, one of the hottest fueling trends in maritime circles, particularly in North America. For a unique insight on a rapidly evolving market


Zeebrugge Orders Seagoing LNG Bunkering Vessel

Port of Zeebrugge (Photo: Port of Zeebrugge)

On May 13, 2014 Mitsubishi Corporation, GDF SUEZ and NYK signed a framework agreement aiming to develop the LNG bunkering market worldwide, in the context of international regulations that seek to reduce the impact of shipping activities on the global environment.


DNV GL to Study Risks of Small Scale LNG Bunkering

Photo courtesy of DNV GL

In order to better understand the consequences of an accidental liquefied natural gas (LNG) release, DNV GL has been asked by the industry to initiate a Joint Industry Project (JIP). It will be run in collaboration with E&P companies and LNG market stakeholders


Steelhead LNG Plans $30B LNG Export Terminal

A  Canadian company jumped into British Columbia's crowded liquefied natural gas (LNG) export fray with a plan to build a $30 billion terminal on Vancouver Island. Steelhead LNG said it applied to Canadian regulators for permission to export up to 30 million tonnes of LNG a year for 25


MOL China Shipping J/V Orders NSR LNG Carriers

LNG Carrier: Rendering MOL

Mitsui O.S.K. Lines (MOL) says its joint venture with China Shipping (Group) Company has signed shipbuilding contracts with Daewoo Shipbuilding & Marine Engineering (DSME) in Korea to build three ice class LNG carriers for the [Russian] Yamal LNG project.


3 Cargo Tenders for Australia's NWS LNG Project

Australia's North West Shelf liquefied natural gas (LNG) export plant is expected to soon launch a tender to sell three cargoes loading in September, shipping and trading sources with knowledge of the matter said. The project's stakeholders expect a September-loading tender to be issued


Shell suspends work on Canadian gas for transport facility

Royal Dutch Shell has suspended development of a liquefaction unit at Canada's Jumping Pound facility, which was to be used to develop the emerging gas for transport market. Gas liquefaction is increasingly being produced for use in transportation of large road vehicles, in trains






 
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