Gas Assets News

DNV has published a substantial revision to the ‘go-to standard’, DNV-ST-N001, for the design and planning of marine operations for the transport, installation and removal of offshore wind farms, subsea cables and oil and gas assets.The new major changes reflect the changing nature of the offshore industry in line with its support of the energy transition, ensuring that the standard remains relevant and supports the development of cost-effective marine operations during a fast-evolving energy transition.DNV…

Malaysia's MISC has entered into a binding Heads of Agreement (HOA) with Pengerang LNG (Two) Sdn. Bhd. (PLNG2SB), a subsidiary of PETRONAS Gas Berhad (PGB), for the supply, operation, and maintenance of a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU)intended to be deployed at the PETRONAS LNG Regasification Terminal Pengerang (RGTP) in Johor."This project is a continuation of the collaboration between MISC and PGB in 2012 that brought about the successful deployment of FSU Tenaga Satu and FSU Tenaga Empat at the LNG Regasification Terminal Sungai Udang…

MISC Berhad announced the change of President & CEO and Chairman of AET effective June 1, 2023. Zahid Osman has been appointed as the President & CEO, succeeding Capt. Rajalingam Subramaniam. The current Chairman, Datuk Yee Yang Chien will step down as of 31st May 2023, and Capt. Rajalingam will take over as the Chairman of AET on June 1, 2023.Currently, Osman is the Vice President of Corporate Planning at MISC. Osman joined the organization in 2017 as Vice President of Gas Assets and Solutions prior to his current role. He possesses more than 20 years of experience in the energy industry.

Subsea services firm DeepOcean has taken the Olympic Ares multi-purpose support vessel (MPSV) on a two-year charter. The vessel is owned by the Norwegian shipowner Olympic Subsea.The vessel is a modern construction support vessel equipped with a 250 Te crane. It will provide subsea inspection, maintenance, and repair (IMR), light construction, and recycling services to DeepOcean’s clients in the offshore renewables and oil and gas industries.Øyvind Mikaelsen, CEO of DeepOcean…

Seri Damai, Seri Daya join MISC LNG Carrier FleetMISC welcomed two of its latest new generation of Liquefied Natural Gas (LNG) carriers, Seri Damai and Seri Daya to its fleet of LNG carriers. These 174,000 CBM LNG carriers were built for MISC by Samsung Heavy Industries Co., Ltd. (SHI), and upon their delivery, the new LNG carriers will be on long-term charters to ExxonMobil’s wholly-owned subsidiary, SeaRiver Maritime LLC (SRM) and will be managed by Eaglestar Shipmanagenent (S) Pte.Ltd.“The delivery of Seri Damai and Seri Daya today…

MISC Berhad (MISC), through its wholly-owned subsidiary, Portovenere and Lerici (Labuan) Pte Ltd (PLL), together with its consortium partners, Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha, Ltd. (K-Line) and China LNG Shipping (Holdings) Limited (CLNG), have been awarded long-term time charter contracts by QatarEnergy for five additional newbuild Liquefied Natural Gas (LNG) carriers to be built by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.Together with the seven long-term time-charter contracts that were secured earlier in August…

India's Oil and Natural Gas Corp (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia's Far East, in a growing sign that complex trades involving one of Moscow's biggest partners are being interrupted by Western sanctions, sources say.Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine, snapping up the popular Urals crude grade, while other buyers…

UK-based offshore vessel owner North Star has said it has recently secured new Emergency Response and Rescue Vessel (ERRV) contracts totaling more than £100 million (around $133.7 million).Under the contracts, North Star said it would support new and existing clients in the UK Continental Shelf with its fast-response emergency fleet, purpose built to protect personnel working on offshore oil and gas platforms.

The market for marine services in support of the installation and maintenance of undersea telecommunications cables has matured over a period of more than 100 years to reach its present state of development. The largest providers of marine services (companies such as the Global Marine Group, SubCom, Alcatel Submarine Networks and Orange Marine) take different approaches to operations, but provide a mature and assured set of services that play a critical role in the industry. Marine services support the suppliers of undersea cable systems (delivering 50…

Offshore drilling contractor Transocean on Wednesday released its quarterly offshore drilling rig fleet status report, which shows one contract terminated in Norway, and several new deals secured Norway, U.S. Gulf, Brazil, Angola, Brunei, and, possibly, Myanmar. The rig owner's total backlog is now around $7.3 billion.While some of the contracts were already announced as they were coming in during the quarter, Transocean shared some new information, too.It said Thursday that the Hungarian oil firm MOL had in July terminated the Transocean Barents semi-sub drilling contract for convenience. The drilling rig was supposed to stay with MOL between May and December 2021…

Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia Pacific Maritime and Offshore Group and is accompanied by senior associate Bernice Chia.“When we launched our commodities and shipping group last year we set our sights on creating one of the premier practices in the market,” said Steve Mahon, global managing partner – clients and strategy.

Maersk will cut jobs in a major shake-up that will affect a third of the shipping giant's staff as it seeks to integrate its seaborne container and in-land logistics businesses, it said on Tuesday.Maersk, which handles about one in five containers shipped worldwide, has been under pressure from investors to speed its transformation from an unwieldy conglomerate but has proved resilient in the face of the COVID-19 pandemic.Cost cuts and its reinstatement of more upbeat guidance last month have helped to double its share price since March and the shares were trading 0.9% up at 9,652 crowns by 08

Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were immediately available and Saudi Aramco declined to comment. EOIs are preliminary enquiries that may or may not turn into full-fledged orders.According to Bahri's website, the national shipping carrier of Saudi Arabia has six business units dealing in oil…

Pieridae Energy moved closer to building a liquefied natural gas (LNG) export terminal on Canada's East Coast after taking ownership of fields from Royal Dutch Shell which will feed gas into the plant, the company said.The Goldboro LNG terminal would be the first on Canada's East Coast and compete with the growing number of plants on the U.S. Gulf Coast, hoping its shorter distance to Europe and further west will help sell its LNG by cutting shipping costs.Pieridae said in a statement late on Thursday it had closed a C$190 million ($145 million) acquisition of Shell's gas assets in Alberta's Foothills region, giving it most of the gas…

The global floating liquefied natural gas (FLNG) market is estimated to grow at CAGR above 5.2% over the forecast time frame 2019 to 2026 and reach the market value around $17.5 billion by 2026.Increasing demand for clean fuel techniques and increasing concentrate on sustainable energy blend will boost FLNG market growth, said a report by Acumen Research and Consulting.Rapid depletion of fossil fuel, combined with continuing carbon footprint reductions, will promote favorable company development.According to the International Energy Agency (IEA), there was a 4.6% increase in worldwide NG supply in 2018 relative to 2017. The U.S. and China are the biggest suppliers to the increase in oil manufacturing…

Fluor Corporation announced that Stork, part of Fluor’s Diversified Services segment, was awarded a contract extension by Centrica Storage Limited to continue providing fabric maintenance and associated services for the company’s UK onshore and offshore oil and gas assets.Fluor booked the undisclosed contract value in the second quarter of 2019, said a release.“Stork is extremely pleased to deepen our long-term relationship with Centrica in the UK by providing services to extend the life and efficiency of its assets in the northeast of England,” said Taco de Haan, Stork’s president.“Stork’s multidisciplined team will provide a single…

British industry regulator, Oil & Gas Authority (OGA) will soon publish an industry report detailing the cost of decommissioning on the UK Continental Shelf and the progress being made by industry, government and regulators to reduce costs by more than 30 per cent.The annual UKCS Decommissioning Cost Estimate Report  will give a deeper insight into the landscape of the sector as well as highlight the opportunities and challenges currently facing the market.Joe Leask, Decommissioning Manager at OGUK, said: "I look forward to hearing more about the progress industry has made in achieving the 35 per cent cost reduction target."“The UK is a first mover in the decommissioning of complex…

BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall have committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value chain – from production to the final consumer – to do the same. The commitment was made as part of wider efforts by the global energy industry to ensure that natural gas continues to play a critical role in helping meet future energy demand while addressing climate change. Since natural gas consists mainly of methane, a potent greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced.

Forth Ports Limited and AF Offshore Decom UK announced the signing of a Heads of Agreement with the intent to establish a new joint venture, AF Dundee, which will lay the foundations of creating a North Sea oil and gas decommissioning hub in the city of Dundee, with its nucleus at the port. AF Offshore Decom UK, a subsidiary of AF Gruppen, is one of the North Sea’s most respected and prominent decommissioning contractors and operates AF VATS Environmental Base in Norway, the North Sea’s most advanced facility for decommissioning offshore installations. The Port of Dundee, is optimally placed to accommodate a significant share of North Sea decommissioning work due to its proximity to many UK North Sea oil and gas assets…

The Buchan Alpha oil production vessel has arrived safely in Lerwick, Shetland for disposal. A semi-submersible moored floating production vessel, weighing 12,000 tonnes, Buchan Alpha was built in 1973 as a drilling rig and converted for production purposes in Stornoway between 1978-80. The vessel commenced production in 1981 from the Buchan field, located in blocks 21/1A and 20/5A, and has subsequently also produced the nearby Hannay field. Production ceased, as planned, on 12 May 2017 having produced around 148mm barrels of oil. The contract for disposal was internationally tendered and awarded to Veolia working with their strategic partner in decommissioning, Peterson, who have a proven safety and environmental track record in the decommissioning of oil and gas assets.

A joint event between the European Economic and Social Committee (EESC) and three Green Members of the European Parliament highlighted the paradox between the strict rules under OSPAR for the decommissioning of fixed oil platforms from the North Sea with the rules that govern the recycling of floating platforms and structures. The latter fall under the same rules as commercial ships, and would therefore have to follow the EU Ship Recycling Regulation. The NGO Shipbreaking Platform and other stakeholders have already highlighted the weakness of the SRR which needs to be coupled with a financial incentive to curb the trend to flag out and circumvent the legislation.

The March 2017 edition of Maritime Reporter & Engineering News, with U.S. President Donald Trump on the cover, is now available. Read it online here. As this is Maritime Reporter & Engineering News’ ‘Green Marine’ annual, one might be surprised to see a recent photo of President Trump gracing our cover. Regardless of your personal feeling or political view, the story of President Trump and his new administration is arguably the maritime story of the year, as it touches on nearly every sector, from defense and national security to international commerce and infrastructure.

Britain will look at ways of making it easier to sell North Sea oil and gas fields by changing tax rules in order to keep them producing for longer, the finance ministry said. The move, which is due to be announced in finance minister Philip Hammond's budget on Wednesday, follows a call by the industry's oil lobby group for a change to decommissioning tax rules that have prevented deals in the North Sea. Owners of oil and gas assets get tax relief on the future costs of dismantling them, but as assets are sold the relief cannot be passed on to new owners. "The UK government will publish a discussion paper and establish a panel of industry experts to consider how tax can assist sales of oil and gas fields, helping to keep them productive for longer," the ministry said in a statement.