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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


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


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


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


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


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


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


Technip awarded new LNG plant contract in China

Logo

  Technip has been awarded an engineering, procurement and technical assistance contract by Fengzhen Wanjie Gas Co. Ltd. for a liquefied natural gas (LNG) plant in Fengzhen City, Inner Mongolia Province, China. The plant will consist of 1.3 million Nm3/day(1) LNG train (0.35 Mtpa) and a 0


LNG America, Liquiline Partner for LNG Transport

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.


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


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






 
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