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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


Total, KOGAS Extend Cooperation on LNG

Image: Korea Gas Corp

 Korea Gas Corp, the world’s biggest importer of LNG, has struck deals with French giant Total to extend its reach into the liquefaction sector, reports Reuters.   Total has pledged to press forward with investment in LNG despite the downturn in oil and gas prices and has signed a new agreement with South Korean utility company Kogas to explore mutual opportunities across the LNG value chain.  


Skangas Aquires Risavika LNG

Photo: Skangas

 Skangas, a unit of Gasum, signed a deal with Lyse Group to acquire the Risavika liquefied natural gas (LNG)production facility in Norway.    The acquisition of the Risavika production plant will strengthen Skangas’s presence in the downstream of the LNG value chain and secure Skangas’s commercial position in the Norwegian market and North Sea.   The Risavika production plant has an annual production capacity of 300,000 tonnes of liquefied natural gas (LNG)


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


Keppel, BG Group JV to supply LNG Bunkers in Singapore

BG Group and Keppel to fuel ships with LNG in Singapore Photo BG Group

First delivery of LNG bunker expected to commence in 2017 Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), and BG Group plc (BG Group) have been selected to supply Liquefied Natural Gas (LNG) bunker to vessels in the Port of Singapore. The joint bid submitted by Keppel O&M and BG Group for the LNG bunker supplier licence is one of the two top bids selected by the Maritime and Port Authority of Singapore (MPA)


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


Canada's First LNG Export Terminal Seen as One-off

Woodfibre LNG, Canada's first liquefied natural gas export project, will be a "nice-to-have" fillip for the country's gas producers but does not signal the start of a west coast LNG boom, industry watchers said on Monday.   Privately held Woodfibre LNG Ltd said on Friday it will start building its C$1.6 billion ($1.2 billion) project in Squamish, British Columbia, next year after its Singaporean parent company authorized the funds last week.  


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


LNG Shipping Under Threat from Cargo Diversions

Graph: Drewry  LNG Forecaster report

 If Asian buyers continue to divert their contracted supply from the US towards Europe and Latin America, it will reduce demand for LNG vessels in the long term by cutting down on long-haul trade, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry.   Drewry has been maintaining a bullish long-term outlook for LNG shipping for quite some time and expects rates to improve substantially from 2018 onwards


JERA Imports Japan's First Liquefied Shale Gas Cargo from U.S.

File Image: an LNG carrier (CREDIT: Parker Bestobell)

Japan's JERA Co said on Friday it imported the country's first liquefied shale gas cargo from the United States as part of efforts to diversify its supply.   This also marks Japan's first import of liquefied natural gas (LNG) produced in the contiguous United States


Megastar's First LNG bunkering at Skangas Pori Terminal

Photo Skangas

To be completed at the Meyer Turku shipyard in late January, Tallink’s new liquefied natural gas (LNG) powered fast ferry M/S Megastar was bunkered with LNG for the first time at the newly opened Skangas Pori LNG terminal on January 4. Her maiden voyage will take place from Tallinn to


Skangas, Statoil Pact for LNG Reload at Klaipeda

Photo: Klaipedos Nafta

 Skangas signed an agreement with Statoil, the Norwegian oil and gas company, for a small-scale LNG reload to take place at the Klaipeda LNG Terminal in Lithuania.    The reload will take place early January 2017. This will be the first reload conducted at the terminal and it is


Vessel Earnings and Global Fleet Trends

Graph: Clarkson Research Services

 Clarkson Research Services says market conditions across most sectors of the shipping industry have been highly challenging in 2016.   The ClarkSea Index, which illustrates the fortunes of earnings for the major commercial ship types makes fairly clear the fate of the volume shipping


Innovation in Offshore Transfer of LNG

Image: Trelleborg

The marine and offshore industries are becoming increasingly concerned with questions over the future fuel market, especially given ongoing uncertainty around future emissions regulations and the dates in which they will come into force. Marine owners and operators need to identify viable


Novatek Inks Agreements with Japanese Companies on Gas

Novatek, Russia's second biggest gas producer, said on Friday it had signed agreements with Japan's Mitsui & Co, Mitsubishi Corp and Marubeni Corp to cooperate in liquefied natural gas and other energy sectors.   Japan, lacking fuel resources


New Partnership for LNG Carrier Repair

Dr. Patrick Cheppe, CEO of Europe Technologies Group, and Wilfred de Gannes, Chairman & CEO of the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited, signe the MOU in Nantes, France on November 25, 2016. (Photo: SRDC)

On the November 25, 2016 Europe Technologies Group signed a Memorandum of Agreement with the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited in Nantes, France.   This Trinidad-based ship repair arrangement with the expert guidance of the Europe Technologies Group


NextDecade in FSRU Deal with Flex LNG

Image: FLEX LNG Management

NextDecade Global Solutions, a subsidiary of NextDecade, LLC, and FLEX LNG have signed a Heads of Agreement (HOA) to create a full value chain solution for customers looking to purchase LNG from NextDecade’s Rio Grande LNG export project in Brownsville, TX.   


JERA Buys First-ever U.S. LNG Cargo

File Image: LNG carrier underway (Credit: Parker Bestobell)

Japan's JERA Co, the world's biggest importer of liquefied natural gas (LNG), on Thursday said it made its first-ever purchase of LNG from the lower 48 U.S. states, as part of its goal to diversify supplies. JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power


Höegh LNG Orders Four FSRUs at Samsung Heavy

Pic: Höegh LNG

 Norway’s floating liquefied natural gas company Höegh LNG has signed a Letter of Intent (LOI) for one firm and three optional floating storage and regasification units (FSRUs) at South Korea’s Samsung Heavy Industries (SHI).  


Fuel Talk: Greener Ships 'Abandoned'

Push Back: Leaders citing limited returns for “green-fuels” investments include (from left): Håvard Ulstein, MD, Island Offshore; Karsten Sævik, CEO, Remøy Shipping; and Ståle Kyrkjedelen, Norway’s Operations Manager, Bourbon Offshore. (Photo: William Stoichevski)

In the immortal words of one Kermit the Frog, “it’s not easy being green.” Nor inexpensive. Offshore ship owners managing the demand “fallout” of the past year and navigating myriad environmental strictures say their leap of faith toward greener fuels has taken its


Scottish Ferries Contract for Parker Bestobell Marine

Ferry Valve (Photo: Bestobell Marine)

Parker Bestobell Marine, part of Parker Hannifin, has won a contract to supply cryogenic globe and check valves for two Caledonian MacBrayne Ferries (Calmac) being built at Ferguson Marine Engineering in Glasgow.   The valves will be installed in the liquid natural gas (LNG) fuel gas


Two New SEA\LNG Partners

SEA\LNG, which works to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, has welcomed two new partners, each representing key aspects of the LNG maritime value chain: ABS and Keppel Offshore & Marine’s Gas Technology Development.  


SVEZA OK'd to Supply Plywood for LNG Carriers

GTTs auditor signs of plywood samples for qualification tests. (Photo: Sveza)

SVEZA Ust-Izhora plywood mill recently obtained the GTT (Gaztransport & Technigaz) Approval confirming compliance with specification of containment system for liquefied natural gas carriers. SVEZA Group is a leader in birch plywood production


DNV GL Debuts Tool to Support Wider Adoption of LNG as Fuel

Fitness for purpose of LNG - New tool helps overcome quality issues and protect engines by calculating the PKI methane number

New easy-to-use calculator helps overcome quality issues and protect engines European Autumn Gas Conference, The Hague: Greater use of LNG as fuel would reduce global emissions of greenhouse gases, but barriers remain to its widespread adoption






 
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