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GLOBAL LNG: Prices Steady in Subdued Market

Asian liquefied natural gas (LNG) prices were steady this week amid limited trading activity. The price of Asian spot cargoes for February delivery was pegged at $6.90 per million British thermal units (mmBtu), in line with the previous week. Traders eyed developments in Nigeria where Eni has declared force majeure on loadings from the country's LNG export plant due to pipeline sabotage. All other suppliers continued to ship, although traders said the pace of loadings had slowed. "There's a slight backlog of vessels, they're not loading as quickly as they normally would," said a trader. "There's obviously not enough LNG to bring ships in quickly or as per scheduled." Nigeria LNG's export plant at Bonny Island can produce 22 million metric tonnes of liquefied gas a year and has long-term supply contracts with buyers in Italy, Spain, Turkey, Portugal and France. It also sells on the spot market. On the demand side, Egypt, one of this year's brightest spots for LNG imports, is facing difficulty meeting payments due to its foreign currency crisis. Sources said that Egypt has asked oil and LNG suppliers to extend payment terms to 90 days after delivery. Traders said that Italy's offshore terminal at Livorno, OLT Toscana, picked DufEnergy Trading to supply a cargo earlier this month following a recent tender to secure a delivery intended to cover occasional spikes in Italian gas demand.


What’s Next for LNG - DNV GL

Courtesy DNV GL

Dr. Gerd-Michael Würsig, Business Director LNG fuelled ships at DNV GL – Maritime, looked at some of the current issues in the LNG industry and provided an overview of what DNV GL is doing to support growth in this segment. “The main drivers, in order of importance, are price, availability, and of course legislation. LNG as a fuel has the potential to become the most important fuel solution for environmentally sustainable shipping over the next few years


LNG Export Strategies on Agenda at London 'Russian Day'

The role of Russia as a key global supplier of natural gas will be amplified at upcoming 'Russian Day' event. The Russian Energy Minister, Alexander Novak, confirms he will host a special ‘Russian Day’ at one of the world’s leading gas industry events in London this October. The role of Russia as a key global supplier of natural gas will be examined during the day-long session, which also welcomes Novak’s Deputy, Pavel Fedorov


Angola Ships First Offshore LNG Cargo

First LNG Shipment Ceremony: Photo credit Angola LNG

The first cargo was sold to Angola's state oil & gas company and is currently being shipped to Brazil by the  LNG carrier 'SS Sonangol Sambizanga', one of seven 160,000 m3 LNG vessels that are under long-term charter to the Angola LNG project. Angola LNG, the Soyo-based facility built to create value from Angola's offshore gas resources, confirms that production of liquefied natural gas (LNG) has safely commenced at the Angola LNG plant in Soyo and that its first cargo has


Bestobell and W&O Enter Distribution Deal

Actuated globe valve with flanged end connections

Bestobell Valves, part of the President Engineering Group (PEGL), has named W&O Supply, a global supplier of marine pipe, valves and fittings, valve automation, and engineered solutions to the marine and upstream oil and gas industries, as its exclusive distributor for Bestobell Valves in North America. Through this partnership, Bestobell Valves, headquartered in the United Kingdom, and W&O, headquartered in Jacksonville, Florida


Singapore Offers Funding to Build LNG Vessels

Image: MPA

 Singapore Offers Funding to Build LNG Vessels   Port of Singapore offers S$12 million funding for building of LNG-fuelled vessels as Singapore advances LNG bunkering efforts to meet future demand   The Port of Singapore, regarded as a leading bunkering hub, is poised to expand its offering of marine fuel solutions to include LNG.   In line with these efforts, the Maritime and Port Authority of Singapore (MPA) has taken another step toward the planned 2017 launch of


Technip USA Announces Contract Award for the Freeport LNG Terminal

Freeport LNG Development, L.P. and Technip USA Corporation, a subsidiary of Technip have signed a contract for the Front End Engineering Design (FEED) leading to the finalization of the EPC (engineering, procurement and construction) contract for its LNG receiving terminal to be located on Quintana Island near Freeport, Texas. The FEED is expected to be completed by the end of December with the EPC phase of the project beginning in the first quarter of 2004.


Shippers Must Reduce Costs, Boost Efficiency

Michael Wilson

So what’s keeping ship operators awake at night these days?  Plenty, it seems. Sluggish recovery from a lingering worldwide recession, unsustainable debt loads, endemic overcapacity in most shipping trades, punishing freight rates, rising costs of fuel and regulatory compliance and a lingering sense that ships are not running as efficiently as they could.  The last two topics – reducing fuel costs while complying with emission regulations and improving ship operating


FLNG Birth of a Market

Easy cool Modec’s liquefaction concept is based on efficient “air-conditioning” Courtesy Modec

FLNG deal-making has been sporadic since Woodside Petroleum at the end of 2013 delayed a final investment decision for the giant Browse FLNG project off Northwest Australia.   The previous year had seen go-aheads for most of the floating liquefied natural gas projects (FLNG) underway today, including Shell’s Prelude FLNG — Woodside’s choice, it seems, of a liquefaction solution for fields 200 kilometers offshore


Healthy Global Growth for LNG

Photo: CWC Group’s World LNG Summit 2015

 Despite some recent turbulence, the global business environment for liquefied natural gas (LNG) remains strong, and a continuous growth in demand is expected for years to come, said Khalid Sultan R Al Kuwari, Chief Marketing and Shipping Officer of RasGas Company Limited.   Speaking at the CWC 16th World LNG Summit in Rome Al Kuwari said that a growth rate of approximately 5% per year from 2015 to 2025 is anticipated


Wartsila's Value of Expediency

The value of expediency Photo Wartsila

Regasifying and storing LNG offshore has allowed customers to import gas without committing to land-based infrastructure. The option also speeds up access to vast amounts of energy. “Wärtsilä focuses on completing the LNG value chain,” says Timo Koponen, Vice President


Hose-in-Hose Transfers Open a New Door to LNG

(Image: Trelleborg)

First of its kind Cryoline floating LNG hose-in-hose transfer system improves safety and lowers operator costs – improving access to LNG fuel   Trelleborg’s fluid handling operation, supplier of flexible bonded hose solutions for the crude oil


HUMMEL LNG Hybrid Barge Begins Second Season

LNG Hybrid Barge HUMMEL in the port of Hamburg (Photo: Becker Marine Systems)

For over one year the HUMMEL has been contributing to improved air quality at the port of Hamburg. Becker Marine Systems’ LNG Hybrid Barge will also be supplying lower mission power to the AIDAsol this year. The cruise ship has already made three calls since the middle of May and will have


DSME, Sovcomflot Delay Delivery of First Arctic LNG carrier

Yamal LNG project. Photo: PAO Sovcomflot

 South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) and Sovcomflot have agreed to delay a liquefied natural gas carrier being built for the Yamal LNG project in Russia.   According DSME statement the vessel, which was originally scheduled for June this year re-set the


Wärtsilä Joins LNG-powered Bulker Project

The supreme efficiency of the Wärtsilä 31 engine makes it a competitive and viable alternative option for equipping future dry bulk carrier vessels with LNG propulsion. Photo Wartsila

Wärtsilä is to team up with an international group of shipping industry companies and organisations in a project to develop a concept for equipping future dry bulk carrier vessels with LNG propulsion. Project Forward is led by Athens-based Arista Shipping


MOL Clinches FSRU Charter Deal

Gas Sayago President César Briozzo, right,and Lakler President, (MOL Director, Senior Managing Executive Officer) Takeshi Hashimotoat the signing ceremony Photo MOL

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that Lakler S.A., 100% subsidiary of MOL has officially agreed to conclude a charter contract, with an eye toward reaching a final deal in June this year, with Gas Sayago


Shell Deploys Third LNG-powered OSV

Harvey Liberty (Photo: Shell)

Shell Offshore Inc. today marked the delivery of the third liquefied natural gas (LNG) powered offshore supply vessel (OSV) in Port Fourchon, La.   The new vessel, Harvey Liberty, chartered from specialist company Harvey Gulf International Marine, will join sister ships


AIDAprima Christened in Hamburg

AIDAprima during her christening ceremony in Hamburg (Photo: Carnival Corporation & plc)

Carnival Corporation & plc officially welcomed its fleet’s newest ship with the christening of AIDAprima, now the flagship vessel for Carnival’s German-based brand AIDA Cruises.   AIDAprima made its debut with a light show and naming ceremony witnessed in person by 1


BMT Awarded LNG Engineering For Côte d’Ivoire

BMT to develop LNG import infrastructure in Côte d’Ivoire. Photo source Star Energie

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavor Energy, for the development of the LNG storage and regasification facility as part of the Songon Gas-to-Power Project in Côte d’Ivoire.  


HiLoad LNG Offloading Solution Presented at OTC

HiLoad LNG AS, a subsidiary of Sevan Marine ASA, and Technip presented together this year the HiLoad LNG Parallel Loading System (PLS) at OTC. This system utilizes the HiLoad LNG unit for station keeping and Technip’s cryogenic flexible aerial pipes to transfer LNG from a FLNG unit (either a


Japan in Race for Asian LNG Hub

Photo: LNG Japan Corporation

 Japan, the world’s largest buyer of liquefied natural gas is aiming to establish an international liquefied natural gas (LNG)  trading hub by the early 2020s, according to a statement by Japanese Ministry of Economy, Trade and Industry (METI) .  


Four Patrol Boats Delivered in Nigeria

Photo: Damen

Four Damen SPa 1605 ballistic protected security patrol vessels have been delivered to C&I Leasing Plc, a player in the Nigerian offshore support vessel market. The patrol boats, which have already undergone sea-trials, will provide security patrol and escort services for LNG tankers calling


US LNG Shipments Point to Global Gas Price Convergence

Image by East-West Center

 The emergence of US liquefied natural gas as a competitive alternative for European and Asian customers, combined with an oversupplied market, should drive more convergence between natural gas prices at major hubs and weaken the link between gas and oil prices, Fitch Ratings says.  


Awilco LNG Reports Loss

Photo: Awilco LNG

 Oslo-based LNG shipping company, Awilco LNG, reported a first quarter freight income of US$8.9 million, down from $12.1 million in the same quarter the previous year.    The pure play LNG transportation provider  said that an oversupply of shipping in the carrier market


Papua New Guinea Bullish on LNG Potential

Map:  InterOil Corporation

 A new wave of investments in Papua New Guinea’s energy sector could see some $19 billion of projects launched in the coming years, boosting the country’s liquefied natural gas (LNG) output and providing employment to thousands.  






 
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