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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


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


Gazprom, Gasunie Sign Framework Agreement - LNG

Han Fennema and Alexey Miller

  At a Meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Han Fennema, CEO and Chairman of the Executive Board of Gasunie a Framework Agreement on cooperation in the area of small scale LNG was signed by the two parties. The document stipulates the cooperation in the small scale LNG market in Europe, with a focus on joint projects for the construction of LNG receiving terminals, LNG filling stations and other infrastructure facilities.


Alaska, ConocoPhillips Eye JV to Market LNG

Image: Alaska LNG Project LLC

The state-owned Alaska Gasline Development Corp. (AGDC), and ConocoPhillips Alaska Inc. have executed a memorandum of understanding (MOU) to form a joint venture company (JV) to market liquefied natural gas (LNG) from the Alaska LNG project.  


Coal's Cost Advantage over LNG Slipping

file image: a ttypical bulk carrier at sea (Credit: BSM)

Thermal coal has been one of the commodity success stories this year, but there is a risk that it becomes a victim of its own success by eating into its advantage over liquefied natural gas (LNG) in generating electricity. The benchmark Australian thermal coal price, the Newcastle Index


Finland's 1st LNG Terminal Opens

Image: Gasum Oy

Finland’s first liquefied natural gas (LNG) import terminal at Pori on the west coast was officially opened, says Gasum. Deliveries of LNG to customers began on the same day, the company said in its statement.   It enables LNG deliveries to industrial


Harvey Gulf ATB Earns ABS, USCG Approvals

(Image: HGIM)

Harvey Gulf International Marine (HGIM) announced it has received both ABS (American Bureau of Shipping) class functional approval and USCG (United States Coast Guard) design bases approval on a 4,000 cubic meter LNG articulating tug barge (ATB) construction drawing package; the design accounts


LNG Investment Swings to North America

Photo: Chamber of Shipping of British Columbia

 The LNG industry is undergoing a dramatic transformation. North American activity (the majority of which is committed spend) is driving a return to growth in global capital expenditure. A wave of new LNG carrier newbuilds will also be required to support a huge increase in traded base-load


New Global Brand for LNG Bunkering: Gas4Sea

ENGIE, Mitsubishi Corporation and NYK Line have launched Gas4Sea, a new brand for their joint marketing of liquefied natural gas (LNG) as a marine fuel around the world. Gas4Sea aims to lead innovation through the ship-to-ship supply of LNG for the maritime sector.  


Royal Vopak to Acquire EXMAR's FRSU Share

EXMAR to sell its share in FRSU

EXMAR and Vopak announce that discussions are currently taking place to explore the possibility of an acquisition of EXMAR’s share in its floating LNG storage and regasification business (FRSU’s) by Vopak. As the outcome of these discussions between EXMAR and Vopak is currently


Gate Terminal Expanded for Handling Small LNG Vessels

Gate LNG terminal at the Maasvlakte in Rotterdam

Gate terminal and its shareholders Gasunie and Vopak are proud to announce that the LNG terminal at the Maasvlakte in Rotterdam has been expanded to include a third berth and special infrastructure for the loading of small LNG vessels. These small LNG vessels will enable distribution to LNG


DNV GL's New Project on EU LNG Market

Photo: DNV GL

 Whilst LNG has proven to be a viable option as a bunkering fuel for ships, there are still challenges to the pace of its development and demand for LNG as a fuel. One of the obstacles to the accelerated uptake is the uncertainty regarding its availability.   


Gasum, Wärtsilä Join Forces to develop Gas Value Chain

Gasum CEO Johanna Lamminen and Wärtsilä CEO Jaakko Eskola. Source Gasum

New joint co-operation between Gasum and Wärtsilä aims to develop the utilization and distribution of natural energy gases in marine and land markets. Gasum, the Nordic leader in natural gases and Wärtsilä, a global leader in advanced technologies and complete lifecycle


China Receives First American LNG Cargo

Apollonia passes through the Panama Canals locks on its way to Asia. Photo: Shell

 The first cargo of US liquefied natural gas (LNG) to target the world’s largest energy consumer arrived Monday at the Chinese port of Yantian in Shenzhen near Hong Kong.   The cargo was brought onboard the 161,870-cbm Maran Gas Apollonia


Coastal Contracts Buys Stake in Indonesian LNG Supply Chain

Image: PT. Jaya Samudra Karunia

 Malaysian offshore service provider Coastal Contracts  is tapping into the growing liquefied natural gas (LNG) supply chain in Indonesia with the purchase of a 49% stake in T Jaya Samudra Karunia for US$6.55mil (RM27mil), reports the Star.  


LNG Market Needs More Vessels than Currently on Order

Graph: Drewry

 Despite the current weakness in LNG shipping rates, Drewry maintains its bullish long-term outlook for LNG shipping and believes that the market will require more vessels than listed on the current orderbook, according to the latest edition of the LNG Forecaster report published by global


First LNG Vessel Transits Expanded Panama Canal

Shell-chartered LNG carrier Maran Gas Apollonia transiting the Expanded Panama Canal’s Agua Clara Locks

Today, the Panama Canal marked another milestone with the transit of the first-ever liquefied natural gas (LNG) carrier through its expanded locks.   Shell-chartered Maran Gas Apollonia—measuring 289 meters in length and 45 meters in beam—arrived Monday from the Sabine Pass LNG


LNG: Did the Greeks Get it Wrong?

Graph: Alibra

 In December 2013, Alibra’s market report front page read: “When in shipping, do as the Greeks do.” At that time, Alibra was referring to the fact that 31% of the LNG carrier orderbook had been ordered by Greek owners.  






 
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