LNG Shipping Market in Recovery Stage: Flex LNG
Norwegian-born billionaire John Fredriksen-owned LNG shipper Flex LNG believes that the LNG market is in the early stages of a multi-year recovery.According to a report by Flex LNG, the market for seaborne transportation of LNG has improved significantly during the third quarter with the primary driver being the nearly 50 per cent year on year growth in imports to China.Additionally there is high demand growth in other more mature markets such as South Korea and Taiwan.Flex LNG pointed out that Bloomberg New Energy Finance estimate demand growth of approximately 8.5% in 2018, adding 24MMtpa to the global market which will reach a total…
Cheniere Inks 15-year LNG Sales Pact with Vitol
Cheniere Energy Inc said on Monday that it signed a 15-year agreement to supply liquefied natural gas (LNG) to the world's largest oil trader, Vitol Inc.Cheniere said it will sell 700,000 tonnes of LNG every year to Vitol, starting 2018 and the purchase price will be pegged to the Henry Hub monthly average, plus a fee.The United States has become a major LNG exporter in the last two years, mostly due to the ramp up of Cheniere's Sabine Pass terminal in Louisiana. Houston-based Cheniere is also building the Corpus Christi terminal in Texas.
Emco Wheaton Plays Key Role in First US Crude Oil Shipment
Emco Wheaton has played a pivotal role in the transfer of the first shipment of U.S. crude oil for export in 40 years, after the Theo T tanker set sail from the Port of Corpus Christi bound for Europe. The Greek oil tanker was loaded on New Year’s Eve by NuStar Energy LP at its North Beach Terminal at Port Corpus Christi in Texas using three Emco Wheaton Marine Loading Arms. To cost effectively and safely supply crude oil to the global market, Nustar Energy LP made significant investments in its Corpus Christi terminal operations in 2014 with the purchase of new equipment.
Double Eagle Pipeline Fully Operational
Double Eagle Pipeline LLC, a 50/50 joint venture between Magellan Midstream Partners, L.P. and Kinder Morgan Energy Partners, L.P.,today announced that the entire pipeline system, comprised of 195 miles of pipe, is now in full operation to Corpus Christi, Texas as designed. The 84-mile western leg of the Double Eagle pipeline system is connected into four central gathering facilities and is moving condensate from Gardendale near Cotulla, Texas, in LaSalle County through Three Riverstruck unloading and storage facility in Live Oak County to Magellan’s Corpus Christi Terminal. The 37-mile eastern leg of the Double Eagle pipeline system is moving condensate from Karnes County, Texas, also through Three Rivers, and down to Magellan’s Corpus Christi Terminal.
