Eni Reorganizes Gas and Power Segment
Following the reorganization of Eni’s Gas and Power activities, approved by the Company's Board of Directors, the Business Unit Optimization and Trading will be renamed Business Unit Midstream and a new Business Unit Downstream Gas and Power has been created. The Business Unit Downstream Gas and Power, of which Eni’s Chief Executive Officer, Paolo Scaroni, has been appointed interim head, will be responsible for the development in Italy and abroad of commercial retail and mid gas & power as well as the generation of electricity power. The Business Unit Midstream, headed by Marco Alverà, will oversee commodity trading activities, supply and oil & gas portfolio optimization, sales on wholesale gas and power markets, midstream LNG commercial activities and commodities transport.
Shell Orders Two LNG Tankers
The gas and power division of Royal Dutch/Shell ordered two additional liquefied natural gas (LNG) carriers to support its growing global LNG business. Shell International Gas Limited ordered a membrane-type carrier from South Korea's Daewoo Shipbuilding & Marine Engineering and a moss spherical tank carrier from Japan's Mitsubishi Heavy Industries. Shell did not disclose the price for the orders, but industry sources said the market level for a typical LNG carrier was around $175 million. The two new vessels have been secured against the background of a growing portfolio of Shell LNG projects around the world which require shipping capacity and will help supply growing demand for LNG.
Frozen Gas Market Heats Up
While seemingly miniscule in terms of deadweight tons ordered and delivered per year as compared to the shipbuilding business as a whole, the production of gas tankers, LNG and LPG, are high-value, high prestige orders that are likely to rise significantly in the coming years. Consistently high oil prices have effectively forced the production and processing of gas, and the current trend is towards increased usage of this valuable commodity. Late last month, the gas and power division of Royal Dutch/Shell ordered two additional liquefied natural gas (LNG) carriers to support its growing global LNG business. Shell International Gas Limited…
