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Lng Trading

BG's Singapore Move Seen Cutting Big UK Tax Bill

BG Groups Methane Kari Elin delivers the first consignment of LNG to Singapores SLNG terminal. (Photo courtesy BG Group)

When BG Group Plc announced last week it was shifting the headquarters of its oil and liquefied natural gas (LNG) trading operation to Singapore from Britain, it said the aim was to get closer to its customers. Analysts and consultants agreed that the growing importance of Japanese and Korean utilities in the LNG market meant the move would have clear logistical and commercial benefits. But they also said another motivation was likely at play: tax. "Tax is always a factor," said Bob Piller, a Swiss-based energy trading consultant who previously worked for commodities giant Vitol. "Singapore has already attracted some people from Geneva," he added. While Britain's centre-right government is in the process of cutting its corporate income tax rate to 20 percent, from 28 percent in 2010, Singapore offers firms tax holidays in return for establishing operations there, corporate filings show. BG's tax savings could be significant because its trading operation is one of Britain's biggest taxpayers. In 2012, the last year for which the group's largest LNG trading subsidiary, BG Gas Marketing Limited, published accounts, it reported a tax charge of $384 million. That's more than was paid by eight of the 10 biggest publicly-traded companies in Britain, other than BG, which published their UK tax payments in their annual reports.


The Marine Industry and LNG

Moran LNG photos 044.jpg

Several years ago many people in the marine industry either did not know about LNG or did not think that it would amount to anything worth more than a passing interest. At that time there were just four LNG import terminals in the and even they were underutilized. Today there are eight LNG import terminals in operation with two more slated for their first “cool down” shipments this year or early next year


LNG Spot Prices Drop; Demand Dips from Brazil, Japan

By Oleg Vukmanovic and Jacob Gronholt-Pedersen,  Reuters Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals. Prices for April delivery dropped to around $18.10 per million British thermal units (mmBtu) from $19.60 per mmBtu last week. Petrobras, a major Atlantic Basin LNG buyer in recent weeks


New LNG Carrier Bunkers in Russia

LNG carrier Pskov: Photo GM&T

Gazprom Marketing & Trading’s (GM&T) says that its newly delivered LNG carrier “Pskov” has received bunkers (Heavy Fuel Oil and Marine Gas Oil) at the port of Nakhodka in the Primorskiy Region of Russia. This marks the first time a GM&T time-chartered LNG vessel bunkered in a Russian port. Bunkers were provided by another Gazprom subsidiary – GazpromNeft Marine Bunker.


MOL JV Ink Deal for 2 LNG Vessels

  Mitsui O.S.K. Lines, Ltd.  announced today that through a joint venture ship-owning company with Itochu Corporation charter agreements have been signed with E.ON Global Commodities SE, a wholly owned subsidiary of E.ON SE. The joint venture also signed a deal with Daewoo Shipbuilding & Marine Engineering Co., Ltd.’s shipyard in Korea to build maximum of two new 179,900m3 liquefied natural gas (LNG) carriers to be able to fulfil the contractual requirements to EGC.


Europe Set for LNG Supply Surge

Europe is luring twice as many liquefied natural gas (LNG) tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia. In just a week, seven new LNG tankers embarked for Belgian, British and Dutch ports and six more may arrive in the next month, attracted by the widest and most consistent premium to Asian prices in at least five years, price data on Reuters Eikon shows.


Jordan Cove Approved for LNG Export

Terminal in Coos Bay, Oregon authorized to export Liquefied Natural Gas to non-free trade agreement countries The U.S. Energy Department announced that it has conditionally authorized Jordan Cove Energy Project, L.P. (Jordan Cove) to export domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the United States, from the Jordan Cove LNG Terminal in Coos Bay, Oregon


ABS Grants AIP for Small LNG Carrier Design

Photo: ABS

ABS granted engineering company GTT approval in principle (AIP) for a 32,000 m capacity LNG carrier design.   "While a few membrane LNG carriers in the 20,000 m capacity range were built in the 1990s, this is the first new design to be introduced since that time," said ABS Vice President, LNG, Patrick Janssens.   The reason for this innovation, Janssens says, is the development of new markets that have led to a keen interest in smaller LNG carrier designs.  


US Gives Final Approvals to Freeport for LNG Exports

Proposed liquefaction facilities (Image courtesy of Freeport LNG)

The U.S. Department of Energy gave two final approvals on Friday to Freeport LNG Development LP to export liquefied natural gas, or LNG, from its project in Texas to any country. The planned project in Quintana Island, Texas, would have the capacity to export up to 1.8 billion cubic feet a day of LNG once constructed. With domestic gas production booming, U.S. companies have lined up to ship the nation's abundant shale gas to energy- hungry consumers in Europe and Asia


Connaughton Leads Delegation of U.S. Maritime Officials in Tokyo

Maritime Administrator Sean T. Connaughton

On July 24 and 25, Maritime Administrator Sean T. Connaughton led a delegation of U.S. maritime officials in meetings in Tokyo with Japanese counterparts to discuss issues of mutual interest and challenges facing the maritime industry, both around the world and in the bilateral trade.  The talks reflected the major concern of both countries about the impact on the shipping sector of the rapidly expanding consumption of liquefied natural gas (LNG) around the world


JV Wins $2bln Freeport LNG Contract in US

Photo: Freeport LNG Development, L.P. (Freeport LNG)

 A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural gas (LNG) train at Freeport LNG in Texas, US.   Upon completion


Feds Delay LNG’s Port Ambrose Application

Port Ambrose Map:  Liberty Natural Gas, LLC

 The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.   Liberty Natural Gas’s application to build the Port Ambrose deep-water port to receive LNG in the New York/New


GAIL Seeks 7 LNG Cargoes

Image: GAIL (India)

 GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters.    According to preferences and vessel sizes, the deliveries will be split between Dabhol


Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to the new ninth edition of Douglas-Westwood’s (DW) World LNG Market Forecast 2015-2019


ABS Updates Guidance on LNG Bunkering

Image courtesy of Harvey Gulf

  ABS has updated its guidance on LNG Bunkering in North America to support the transport sector's increasingly rapid transition to the use of cleaner fuels. The second edition of ABS' Bunkering of Liquefied Natural Gas-fueled Marine Vessels in North America was released today


GTT Bags Order for DSME-built LNGC

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has received an order for one liquefied natural gas carrier (LNGC).   The ship will be built by the South Korean shipbuilder Daewoo


Britain's Isle of Grain to Test LNG Export Capability

Britain's Isle of Grain liquefied natural gas (LNG) import terminal will test whether it can also export supply by loading a quantity of fuel onto inbound tanker Asia Vision on Thursday, a spokeswoman for operator National Grid said. This month National Grid outlined plans to add a reload


Sempra Energy Plans Port Arthur LNG project

Image: Cameron LNG (Sempra LNG)

 Sempra Energy’s subsidiary, Port Arthur LNG, has requested that the US Federal Energy Regulatory Commission (FERC) initiate the pre-filing review for the company’s proposed liquefaction and export facility in Port Arthur, Texas.  


Lithuanian Energy Group Calls for Rule Change on LNG Imports

Lithuania's state-owned energy group Lietuvos Energija said on Monday national rules had to be changed to allow it to sell some liquefied natural gas (LNG) cargoes it had contracted from Norway's Statoil in the global market as domestic demand falls.  


Wärtsilä Debuts LNG Carrier Designs

The new series of LNG Carrier ship designs consists of four vessel designs.

  The unmatched track record and expertise that Wärtsilä has in LNG fuel solutions for the marine industry is again emphasised with the company's launching of a new series of LNG Carrier ship designs. This series of designs is the latest addition to Wärtsilä's ship design


Pakistan's Port Qasim to Receive First Cargo of LNG from Qatargas

LNG Floating Terminal: Port Qasim Authority

 The first load of Liquefied Natural Gas (LNG) traded by Qatari supplier, Qatargas, is planned to reach the Port Qasim LNG terminal on March 26, says a report in Reuters.   Qatargas is providing the LNG to Pakistan at $8 to $9 per Million British Thermal Units (MMBTU)


YPF Buys Five LNG Cargoes

Argentina's state-controlled YPF has bought at least five cargoes of liquefied natural gas (LNG) for delivery between April and June, traders said on Friday. Suppliers included Shell, EDF Trading, Petrobras, BP and Excelerate, traders said.


Rolls-Royce Gas Engines for FLNG Power Generation

Photo courtesy of Rolls-Royce

Rolls-Royce has secured a contract with Keppel Shipyard in Singapore to supply two all-gas engines for power generation on-board a Floating Liquefaction Vessel (FLNGV) owned by Golar LNG Ltd. The vessel Hilli was a former LNG carrier and is being converted to a FLNGV carrier.


SGMF Interviews Members from Dixon Valve & Coupling

SGMF membership - uncovered: an interview with Sean Andersen and Tony Haston of Dixon Valve & Coupling   The Society for Gas and Marine Fuel (SGMF) recently interviewed members with Sean Andersen and Tony Haston of Dixon Valve & Coupling, who weighed in on their company, its products


USCG Issues LNG Bunkering Policy Letters

The port of Jacksonville could become a key LNG bunkering center in the United States. (Credit: Ramunas Bruzas)

USCG completes LNG bunkering regulations with reference to DNV GL’s Recommended Practice   Responding to the industry’s need for more guidance on procedures related to liquefied natural gas (LNG) bunkering, the U.S. Coast Guard (USCG) has published two new Policy Letters on LNG






 
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