Thailand Boosts LNG Imports
Thailand is signing new contracts for LNG purchases and expanding terminals to boost imports to replace flagging domestic production, Bloomberg reported. Southeast Asia’s second-largest economy will boost LNG imports by more than 70 percent this year. The report said that the country is doing everything it can to facilitate increased LNG imports to replace the declining domestic production. These include expanding the existing terminals. Producers of the fuel are expected to expand…
Natural Gas Fleet Sail to the Future
Natural gas is set to account for an increasing share of the global energy mix in coming years, with gas consumption growing by an average of around 1.5%-2% a year out to 2040, according to energy forecasting agencies such as the IEA. And based on recent trends, Clarksons Research says, if the consensus views on natural gas prove accurate, the implications for the offshore and LNG carrier fleets are likely to be significant. In 2016, global natural gas demand stood at an estimated 347bn cfd, up by 24% on the 280bn cfd consumed in 2006.
Top LNG Buyers Form Alliance to Push for Flexible Contracts
The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Japan, China and South Korea are the world's biggest LNG importers, accounting for about 55 percent of global purchases, according to data from energy consultancy Wood Mackenzie. The countries' biggest respective buyers are joining together to extract concessions from producers that would give them supply flexibility such as having the right to re-sell imports to third parties…
Gazprom to Cement LNG Ties with Kuwait
Russia-based energy company Gazprom has negotiated about supplies of liquefied natural gas (LNG) to Kuwait, reports Tass. The talks continue in "a rather progressive mood,"during the the Energy Minister Alexander Novak’s visit to the Middle East country, the report said. However, it is too early yet to speak about finalizing them. Though Kuwait is satisfied with LNG supplies from Qatar, the parties continued the discussion on a long-term contract. Kuwait is building a new LNG terminal, which should be ready by 2020.
ICE to Offer First US Gulf Coast LNG Futures Contract
With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas futures contract in May. ICE said the contracts would be cash-settled against the Platts LNG Gulf Coast Marker price assessment and use Platts-derived U.S. GCM LNG forward curves for daily settlement purposes. The curves will have an initial term of 48 months. "Domestic and international market participants now have a risk-management solution that lays the foundation for a more effective means of hedging their spot and forward exposure," J.C. Kneale, ICE's vice president, North American power and natural gas markets, said in a statement. U.S.
GTT to Equip Knutsen’s New LNG Carrier
GTT said it has received an order from Hyundai Heavy Industries to equip a new LNG carrier with its Mark III Flex containment system. Hyundai's shipyard based in Ulsan, South Korea will build the vessel of 180,000 m3 on behalf of the Norwegian shipping company NORSPAN LNG XI AS (Knutsen). Delivery is scheduled in 2019. Knutsen is a longstanding owner of LNG carriers equipped with membrane technology, with 10 vessels of this type. GTT records the first LNG carrier order of the year. With its Mark III Flex containment system, GTT said it provides efficient insulation solution able to reduce the daily guaranteed boil-off gas rate to 0.085 percent of tank volume. The Mark and NO ranges have been designed to meet all the transport and storage requirements of liquefied gases.
LR, Penn Oak Energy Partner for LNG Retrofit Service
Lloyd’s Register North America, Inc. (LR) has teamed with Penn Oak Energy Corp to help companies raise capital and mitigate the technical risks associated with retrofitting ships fuelled by liquid natural gas (LNG), by providing a one-stop-shop solution to the industry. Ships that are fuelled by LNG can reduce operating costs while meeting stricter environmental regulations. LNG-fuelled ships have reduced emissions (nitrogen oxide, sulphur oxide and particulate matter) as compared with heavy bunker oil and even low-sulphur marine diesel. Historically, the leading expense for ship operators is fuel and personnel. The challenge to building these new ships has been that shipowners are unwilling to invest in LNG-fuelled ships if supplies of LNG bunker are difficult to obtain…
Nakilat Transitions LNG Mesaimeer to In-house Management
Nakilat has assumed full ship management and operations of Q-Flex LNG carrier Mesaimeer from STASCo (Shell Trading and Shipping Company Ltd.) with effect from March 23, 2017, as part of the planned and phased transition announced on October 19, 2016. With a cargo carrying capacity of 216,312 cubic meters, Mesaimeer is wholly-owned by Nakilat and chartered by Qatargas. The vessel built in South Korea by Hyundai Heavy Industries was delivered in March 2009 and has been in service ever since.
Asian Spot LNG Prices Slip on Weak Demand
Asian spot LNG prices fell this week on poor demand from major gas-consuming regions despite a slew of new purchase tenders. The May spot LNG contract fell by $0.25 cents to $5.40 per million British thermal units (mmBtu), with new production coming on stream in Australia and the United States. Analysts and traders mainly blamed low demand for driving prices lower. In the Middle East, Abu Dhabi was staying on the sidelines of the market and new solar power capacity in Dubai was eroding gas demand there.
Will LNG Remain a Key Energy Source?
Japan imported 8.3 million metric tons of LNG in January, an increase of 1.06 million metric tons compared to the previous year. The data, released by the Japanese Ministry of Finance, also reveals that the amount the country pays for LNG imports had increased by 6.7 percent since 2015. Japan is one of the largest LNG importers in the world and it is expected that gas and LNG will continue to remain a key energy source in the future. The nation’s reliance on LNG rose in 2011 following the closure of the country’s nuclear reactors…
LNG Tech on tap at Europort 2013
Emissions regulations from 2015 onwards are driving shipowners to a crossroads on fuel selection. Ahead of Europort 2013, Rotterdam, Dutch interests are making significant waves in tangible investments in LNG as a fuel option. While there is not consensus on the potential of liquefied natural gas (LNG) as a marine fuel, the concept is gaining traction rapidly as using LNG reduces nitrogen oxide (NOx) and carbon dioxide (CO2) emissions from ships, as well as allowing operators to meet restrictions set in Sulfur Emission Control Areas (SECAs) today, which tighten from 2015 onwards.
First LNG-fueled Aframax Tankers Ordered
Hyundai Heavy Industries’ shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) said it recently won a $240 million order to build four 114,000 DWT Ice-Class IA aframax tankers from Sovcomflot, the Russia’s state-owned shipping company. The vessels are said to be the world’s first LNG-fueled aframax tankers, and will measure 250 meters in length, 44 meters in width and 21 meters in height. They are scheduled to be delivered from the third quarter of 2018 and to be chartered to Shell.
Barging Right into LNG
A raft of new and innovative concepts for LNG barge missions hits the market, in North America and across the pond, as well. Industry gears up for the soon-to-come need for bunkering, infrastructure and LNG-related logistics. In 2014, innovation – as it turns out – means new ideas for the (previously) boring subject of marine barges. It also means LNG. Paired together, LNG and barges are giving naval architects, global classification societies and the operators of a new generation of LNG-powered tonnage something to think about.
Total Seeking to Buy Stake in Iranian LNG Project
French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported. It has signed an agreement with Iranian authorities for a 50 per cent stake in Iran’s South Pars gas field project which will developed at an investment of $4 billion. Sources told Reuters in February that Total was in talks to buy a multi-billion dollar stake in Iran's partly-built LNG export facility.
Shell Shelves Prince Rupert LNG
Royal Dutch Shell PLC has officially shelved its plans to build the Prince Rupert LNG project, which had been planned for Ridley Island in British Columbia. However, it is still considering the potential of its other West Coast LNG option. Shell acquired the Prince Rupert LNG as part of a portfolio of projects in its takeover of natural gas giant BG Group last year. Shell said it decided to discontinue the project after reviewing how it stacked up against its existing options, but it continues to actively move forward on the proposed Kitimat, B.C.-based LNG Canada project with its partners.
South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal
A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also said in a statement to Reuters that it would be seeking to buy floating LNG production and import facilities as part of an ambitious plan for Africa and Asia. The orders would be a major shot in the arm for South Korea's ailing shipbuilding industry, which has been hit by a collapse in new orders as global trade growth slows and after the slump in commodities prices in recent years.
Video: Crowley Builds for LNG Bunkering at JAXPORT
Crowley Maritime Corp. and Eagle LNG Partners have started to build a new shore-side liquefied natural gas (LNG) facility on Crowley-leased property at JAXPORT’s Talleyrand Marine Terminal in Jacksonville, Fla. The new LNG bunkering facility will serve Crowley’s Commitment Class LNG-powered combination container/roll-on roll-off (ConRo) ships presently under construction for use in the U.S. Mainland-Puerto Rico trade. “LNG will provide a cleaner, efficient fuel source for our industry-leading Commitment Class ships…
Singapore’s shipyards are looking to recent investments in capacity, design and newly acquired technology to combat order declines after a decades-long offshore buildup. Sembcorp and peer Keppel are making the most of partnerships in FLNG and showing signs they’ll be okay through the downturn, helped by their gas-hungry Australasian backyard and renewed ties with old charterer parties and suppliers. With drilling contractors unable to pay for the offshore rigs they’ve ordered, Singapore’s heavyweight yards have had to defer deliveries and become defacto rig owners.
Dynagas Partners inks long-term deals for two LNG Vessels
Monaco – March 31, 2016 –Dynagas LNG Partners LP. * Gazprom Global LNG Limited has extended its current charter for the 2007-built LNG carrier Ob River, on the same terms, until May 1, 2018 (plus or minus 15 days). In addition, the Partnership has entered into a new long-term time charter agreement with Gazprom Marketing and Trading Pte. Ltd., an affiliate of Gazprom, for the Ob River, which is expected to commence immediately following the vessel’s redelivery from its current charter with Gazprom, for a period of 10 years (plus or minus 15 days).
MEBA Signs LNG Crewing Agreement with Excelerate Energy
natural gas (LNG) carriers. congressional and administrative oversight over the last few years. address this issue. securing LNG tankers. well, working with Excelerate and other LNG operators. certifications for loading and discharging LNG. officers will join Excelerate's international fleet of LNG vessels.
ABS to Class 45,000 cbm LNG Carrier
ABS, a provider of classification services to the maritime and offshore industries, has been chosen to class a new design of medium-sized LNG carrier to be built in China for Landmark Capital. The 45,000 cbm vessel, featuring self-supporting IMO Type-A tanks mounted within an insulated hold space, will be built in China, with an option for another vessel. Last year, ABS completed an Approval in Principle for the 'LNT A-BOX' gas containment system and will review the vessel design, survey the construction and class the ship for operation upon delivery, which is due in 2017. Landmark Capital affiliate LNG New Technologies (LNT), with operations in Norway and Singapore, has developed the LNT A-BOX system and is providing engineering services for the project.
Nigeria LNG Records 50 Vessel Charters
Since its first day of operations in May 17, 1989, the Nigeria LNG Limited (NLNG) has recorded no fewer than 45 vessels chartered-in and five chartered out, said a report in ThisDay. The chartered-in including liquefied natural gas (LNG), liquefied petroleum gas (LPG) and condensate carriers for shipment of its products to buyers across the globe. The chartered-out of its own vessels is for other operators in the market. The company’s assets are now worth over $13bn, a press release from NLNG quoted Tony Attah, Managing Director as saying.
EGAS: Egypt to tender for 10 LNG Cargoes
Egypt will tender next week to import 10 cargoes of liquefied natural gas (LNG) for delivery in July and August, an official from the state gas company, EGAS, said on Thursday. The official said Egypt would consider importing a further 10 cargoes of LNG, either through direct contracts or through a further international tender, once next week's tender is complete. Egypt relies to a large extent on LNG to generate electricity for its 90 million people. Reporting by Ehab Farouk