Iran is projected to officially join the LNG Exporters Club in the next two years, managing Director of National Iranian Oil Company Rokneddin Javadi was quoted as saying by Mehr News Agency. Establishing new LNG production units instead of constructing pipeline tops Iran's agenda for transferring gas to Europe, since economic calculations reveal LNG production is more economically efficient give the market's current state, he said. Currently, natural gas transmission through pipelines for a distance over 2500 km is not technically or economically profitable, Rokneddin said. Emphasizing that the setting up of LNG production in the country is affected by technology and investment, Rokneddin noted “accordingly, we have begun negotiations with countries possessing technology of gas liquefaction and production of LNG units .” Meanwhile, three foreign companies are reportedly keen to purchase an Iran LNG Company plant to complete it. A Chinese, an Arabian and a European company are keen to acquire an Iran LNG plant to complete it, accodring to a source, who said that Iran LNG plant needs "significant investment and it will take two years to complete". This plant’s capacity is projected to be 10.5 million metric tons per year of LNG production, earning the country more than $7 billion annually.
Nigeria Liquefied Natural Gas (NLNG) purchased two vessels owned by Duke Energy to transport gas from the Bonny LNG plant. The company said it had long-term chartered the ships in 1995 for 22.5 years with provisions for an extension or outright purchase within the period 2001 and 2006. The company is exercising the right to buy the vessels outright one year ahead of schedule. The $3.8 billion Bonny plant in southeast Nigeria began LNG production in October.
Qatargas expanded its LNG production capabilities with the groundbreaking of Qatargas 3 (QG3) and Qatargas 4 (QG4) at Ras Laffan. Both QG3 and QG4 will each have a capacity of 7.8mn tons a year. QG3 is an integrated project jointly owned by Qatar Petroleum (68.5%), ConocoPhillips (30%) and Mitsui (1.5%) and will comprise upstream gas production facilities with a capacity to produce 1.4bn cu ft of natural gas a day and will include an average 70,000 barrels of LPG per day and condensate
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
LNG carrier Spirit of Hela, which is jointly owned by MOL and Itochu Corporation, has left Papua New Guinea carrying the first LNG cargo from the ExxonMobil-led PNG LNG Project, Mitsui O.S.K. Lines, Ltd. announced. The PNG LNG Project is Papua New Guinea’s first ever LNG project, and it will provide long-term supply of gas to customers in Japan and other countries. The vessel loaded LNG at the Project’s Marine Terminal, which is located near Port Moresby
Total SA has signed an agreement to supply liquefied natural gas to ENN Energy in China, according to a news release on the French energy company's website. The deal is for 0.5 million metric tons of LNG per year for a period of 10 years and will be delivered from the company's facilities. Total didn't specify which projects if would source the product from but it has offtake from Australia's Ichthys project, geographically close to China.
Höegh LNG go for LNG FPSO; teaming up with Aker Yards and ABB Lummus Global Höegh LNG announced that it has entered into agreements with major contractors and formally started the engineering and design for its first LNG FPSO Unit (Floating Production Storage and Offloading), with the objective to design and construct the worlds’ first LNG FPSO. “Our strategy is to develop Höegh LNG’s business model from pure LNG transportation into offering also solutions for LNG production and
Woodside Petroleum has begun construction of the Pluto liquefied natural gas project. The first phase of the Pluto project will include a single liquefied natural gas (LNG) production train with forecast production of 4.3 million tons per annum (mtpa) (4.8 mtpa at 100% capacity) connected by a 180km, 36-inch offshore pipeline to a platform in 85 meters of water. Site preparation has been underway since January 2007
On the occasion of the World LNG Summit held in Paris on November 18-21, 2013, GTT was awarded the LNG Technological Innovation Award 2013 by CWC for its work on the development of its membrane containment systems to reduce the daily Boil-Off in LNG Carrier tanks. The LNG Technological award rewards an active member of the LNG industry, a company that has made a positive commercial or technical contribution to the LNG production
Russia's largest non-state gas producer Novatek said on Thursday its shareholders would decide on a new loan worth $600 million for the Yamal LNG project on June 20, according to Interfax news agency. The $27 billion Yamal LNG project envisages three liquefied natural gas (LNG) production lines with a capacity of 5.5 million tonnes a year each. The gas the project produces would be exported to world markets.
NextDecade LLC has signed lease agreements with the State of Texas and City of Texas City for a close to 1,000-acre site at Shoal Point for the potential development of a multi-billion dollar liquefied natural gas (LNG) export facility.
Rising demand from industrial sector, growing use for power generation and declining average landed prices to drive demand for LNG in Turkey through 2025, says TechSci Research report on Turkey LNG Market. LNG Imports in the country is projected to surpass 9 MMT by 2025
India, the world’s fourth-largest buyer of liquefied natural gas (LNG), has announced plans to halve its basic customs duty on imports of the chilled fuel. Indian Finance Minister Arun Jaitley presenting the Budget for 2017-18 in Parliament halved the import duty on LNG to 2
LNG market in Egypt is projected to surpass 4.5 MMT by 2025, due to rising demand from power and industrial sectors in the country, says TechSci Research report. Production of dry natural gas in Egypt declined at a CAGR of 7.17% during 2011-2015
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
South Korean shipbuilder Samsung Heavy Industries (SHI) has terminated a contract worth a 907.6 billion won ($776.8 million) for the construction of a liquefied natural gas (LNG) floating production and storage (FPSO) unit the shipbuilder signed with an unnamed European buyer back in January
ExxonMobil expects to deliver 7.9 million tonnes of liquefied natural gas from Papua New Guinea this year, around 14 percent above nameplate capacity of its PNG LNG plant, says a report in Reuter's quoting the company's PNG head.
Bahrain LNG, the developer of the Gulf state’s receiving and regasification terminal for liquefied natural gas (LNG), has closed a $741 million syndicated loan for the platform’s construction. The private-public partnership is being developed to supplement local
Total, the world’s fourth-ranked international oil and gas company, has joined SEA\LNG, a multi-sector industry coalition created to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel. Total is a global gas player, involved across the entire LNG chain
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
CSSC Wärtsilä Engine Co Ltd (CWEC), the joint venture company formed between Wärtsilä and China State Shipbuilding Corporation (CSSC), has formally opened its new production facilities located at Lingang, Shanghai. The opening ceremony took place on 9 January
Bureau Veritas congratulates owners Seaspan as their new emission reducing ferry enters service between the British Columbia mainland and Vancouver Island. Seaspan Swift is Seaspan Ferries Corporation’s (SFC) new dual-fuelled / hybrid - diesel
The construction of Tallink’s new LNG-powered fast ferry Megastar is nearing completion at the Meyer Turku shipyard, where the vessel is receiving finishing touches before transporting its first passengers January 29, 2017. The €230 million ferry is powered by three 12-cylinder
Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA), recently hosted a dinner to mark the financial close of its LNG Terminal Project with Bahrain LNG WLL, the developer and owner of the first LNG receiving and regasification
Australia's plans for a huge increase in its production of liquefied natural gas are being dealt a big blow by a series of production delays, as energy companies struggle with technical problems and cost overruns. The country is still likely to become the world's biggest LNG exporter