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Lng Markets

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. World spend is forecast to recover momentum and Capex on LNG facilities for the 2011-2015 period is expected to total over $93 billion. A recovery in LNG demand, led by Asian consumers, is underway. China, in particular, has seen its LNG demand grow from 1 bcm in 2006 to around 13 bcm today. LNG imports to Western European and Latin American countries also increased. In addition there is the prospect of further demand for natural gas as the world considers the future of nuclear energy in the aftermath of the Japanese crisis. On the supply side, 2010 saw the commencement of major construction work on new facilities in Australia and Papua New Guinea. A Unique Market Report This latest edition of The World LNG Market Report highlights LNG facilities’ capital expenditure over the 2011-2015 period. It examines new prospects for LNG liquefaction & regasification terminals and LNG carriers, looks at the technology underlying the LNG business and presents market forecasts for activity in the sector


Cheniere's LNG Program to Begin Accepting Cargo Nominations

Cheniere's North American LNG Gateway Program with issuance of a Request for Proposals to sell to Cheniere up to 200 cargoes per year of liquefied natural gas (LNG) for the years 2008 - 2010. Cheniere's North American LNG Gateway(TM) program will provide global LNG suppliers a direct platform to nominate cargoes into Cheniere's LNG receiving terminals starting with the Sabine Pass LNG Receiving Terminal, which is currently under construction in Louisiana


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. The ice class LNG carriers for the project will have independent ice-breaking capabilities that enable them to sail in icy seas with maximum 2.1m ice thickness


ExxonMobil Chief Touts Q-Max Advantage

Rex Tillerson, CEO, Exxon Mobil

Speaking at the 19 World Petroleum Congress in Madrid, Mr. Tillerson outlined the challenge of supplying growing energy needs while minimizing the impact on the environment. “New energy technologies for energy supply, such as those enabling an increase in world LNG supplies, together with technologies to improve energy efficiency, will be critical in meeting the world’s energy challenge,” Mr. Tillerson said.


ABS and CCS Conduct Joint LNG Forum

Increased interest in the building of liquefied natural gas (LNG) carriers at Chinese shipyards spurred the recent Large LNG Carriers Forum, held in Shanghai, and conducted jointly by classification societies ABS and CCS (China Classification Society) in conjunction with leading LNG operators.       More than 150 representatives from the Chinese government, shipowners, shipbuilders, designers, energy corporations and universities attended the forum


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


Samsung Heavy Industries Building Two Golar LNG Carriers

LNG Carrier: Credit Wikipedia CCL Wmeinhart

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


Gasum Boosts LNG Network with Skangass Deal

Reuters - Finnish gas company Gasum is to acquire 51 percent of Norwegian Skangass's distribution operations from Lyse Corporation as it seeks to improve the efficiency of its liquefied natural gas (LNG) network. Gasum said on Monday that the deal, which will make it the largest Nordic operator in the LNG market, is also intended to ensure that it benefits from tighter European Union emissions regulations. Various new regulations on sulphur emissions in the shipping sector will come into


Crowley to Ship LNG to Coco Cola Puerto Rico Plant Long Term

LNG mobile tank: Photo courtesy of Crowley

Crowley’s Carib Energy has been awarded a multi-year contract to supply containerized, U.S.-sourced Liquefied Natural Gas (LNG) to its first industrial customer, Coca-Cola Puerto Rico Bottlers in Cayey and Club Caribe in Cidra, both wholly owned subsidiaries of CC1 Companies, LLC. The contract, executed through Crowley’s Carib Energy subsidiary, includes the fuel supply and transportation of LNG to two of the manufacturer’s plants in Cayey and Cidra, Puerto Rico


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


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.  


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


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.  


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.  


First Skangass LNG Loading in Zeebrugge

LNG was loaded aboard Anthony Veder's Coral Energy, the Skangass time chartered ship, at the Fluxys LNG Terminal in Zeebrugge, marking the first Skangass loading at Zeebrugge under the recent agreement between Skangass and energy company Eni.   


WesPac to Build N. America’s First LNG Bunker Barge

Image: WesPac Midstream

WesPac Midstream LLC (WesPac), a provider of energy infrastructure and liquefied natural gas (LNG) solutions, and its affiliate Clean Marine Energy LLC (CME), the global facilitator of tailored solutions for Emission Control Area (ECA) compliance


LNG Destination Clauses May End: IGU

Destination clauses on contracts for liquefied natural gas (LNG)shipments will soon be a thing of the past because of the shale revolution in the United States, the head of the International Gas Union said in an interview. Japan and other buyers of LNG have long complained that the destination


Wikborg Rein & Co: Oil Prices Won't Impact Dual-Fuel LNG Carriers

   Joe McGladdery (Photo courtesy of Wikborg Rein & Co)

Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and


Oil Prices Should Not Impact Dual-fuel LNG Carriers

Joe McGladdery (Photo courtesy: Wikborg Rein & Co, )

Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and


LNG Shipping Rates Nosedive

LNG Ship (Source: Shell)

 With LNG prices down as slowing demand combines with rising output, the cost to ship super-chilled natural gas has also tumbled to the lowest level in more than four years and is forecast to fall further, reports Bloomberg    According to Andrew Buckland


BIMCO's New Charter Contract for LNG Shipping

Image: BIMCO Headquarters

 With the amount of LNG traded on the spot market continuing to grow, the Baltic and International Maritime Council (BIMCO) is developing a new contract for the transportation of LNG under voyage charter terms.    This will add additional flexibility to the spot market and give


Spain's First Pure-Gas Marine Engine

Photo courtesy of Rolls-Royce

 Rolls-Royce has signed a collaboration agreement with Spanish energy company Gas Natural Fenosa to develop and install a pure-gas Bergen engine aboard the Baleària-operated ferry Abel Matutes. According to Rolls-Royce , the contract gives the company its first reference for a


Bomin Linde, Lithuanian LNG Terminal sign MoU

OSLO, Feb 19 (Reuters) - Lithuania's liquefied natural gas import terminal and Germany's Bomin Linde LNG will work together to develop the use of LNG as marine fuel in the Baltic Sea, the terminal's operator Klaipedos Nafta said on Thursday.


Europe Set for LNG Supply Surge

Europe is luring twice as many liquefied natural gas (LNG) tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia. In just a week, seven new LNG tankers embarked for Belgian


Wärtsilä, Cryonorm to Develop LNGPac Fuel System

The Wärtsilä LNGPac system.

  An agreement has been reached between Wärtsilä and Cryonorm Systems BV, the Netherlands based developer and supplier of cryogenic vaporizers, to form a consortium to deliver LNG systems for the Inland Waterway (IWW) European market.






 
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