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.
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
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
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
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
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
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.
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
With investment support from the Finnish Government of 185 million NOK Skangass has decided to build a new import terminal for LNG. The terminal will be completed in 2016. Skangass plans to create an efficient LNG logistics chain in the Pori area. When the terminal is ready in Autumn 2016 it will have a capacity of 30,000 cubic meters. Skangass has already selected the main contractor and suppliers for the project.
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
Parker Bestobell Marine has recently completed a contract to supply cryogenic Globe and Check valves made in Sheffield, for Hoegh LNG’s series of five FSRUs (Floating Storage Regasification Units) that are being built at Hyundai shipyard (HHI) in South Korea.
A total of 16 new gas carrier ships being built in Japan for Japanese owners are to be powered by Wärtsilä dual-fuel engines capable of running on liquefied natural gas (LNG) or conventional diesel fuels. Wärtsilä's said its experience and technological
Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners LP for a sale price of $330 million. In connection with the closing, Golar LNG Partners will receive a daily fee plus operating
Harvey Gulf announced the opening of the first marine LNG fueling terminal in North America. Less than a year after the delivery of the M/V Harvey Energy, America’s first LNG-powered vessel, Harvey Gulf accomplished another first when it completed a successful LNG bunkering of the Energy
Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade Crowley Maritime Corp. has christened the second of four new Jones Act product tankers yesterday at the South Florida Petroleum Terminal (The Public Dock) in Fort Lauderdale, Fla
Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015 full year financials when compared to 2014. The liquefied natural gas (LNG) shipper said the higher earnings compared
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
Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports, the country's energy minister said on Monday. Russia's Gazprom had enjoyed a supply monopoly until the end of 2014
Sea trials aboard Greenland, the world’s first LNG-fuelled short-sea dry bulk vessel, have validated the performance of Thordon Bearings COMPAC propeller shaft solution, indicating that seawater-lubricated bearing systems are applicable to all ship types and are definitely here to stay.
China's import of liquefied natural gas (LNG) fell 1.1% in 2015, marking the first year-on-year decline since imports began in 2006, according to a report by the US Energy Information Administration (EIA). Chinese LNG imports have grown steadily in the last 10 years, from 0
New York-based energy company Hess has sold Shannon LNG, a proposed gas-import terminal in County Kerry, Ireland’s Sunday Independent has reported. The newspaper did not name the buyer for the site. The identity of the new owner of the proposed liquefied natural gas terminal
The keel of the Tallink’s new LNG-powered fast ferry Megastar was laid at the Meyer Turku shipyard The hull assembly of Tallink’s new fast ferry Megastar started today at the Meyer Turku shipyard with traditional ceremonies
India may contract long-term supplies of liquefied natural gas (LNG) from Australia if price is comparable to Indian coal which remains the fuel of choice for power generation companies in New Delhi. Power Minister Piyush Goyal
The U.S. Department of Energy has renewed authorization for liquefied natural gas (LNG) exports from the North Kenai ConocoPhillips facility, reports Reuters. The approval is to export about 40 billion cubic feet of natural gas from its Kenai LNG export terminal in Alaska over the
The U.S. Department of Energy approved ConocoPhillips' application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export terminal in Alaska over the next two years starting Feb. 19. The Kenai facility was the first LNG export facility in the United