Gas Supply Fears News

U.S.-based LNG company Excelerate Energy and a subsidiary of Gasgrid Finland, a Finnish state-owned natural gas transmission system operator, on Friday signed a ten-year deal in Helsinki for the charter of a floating storage and regasification vessel (FSRU) that they said would provide "flexible, reliable, and secure" supply of liquefied natural gas (LNG) to Finland, Estonia, and the Baltic Sea Region.Excelerate President and CEO Steven Kobos, Gasgrid Finland CEO Olli Sipilä,…

Italian gas group Snam has signed a contract with Golar LNG under which Golar will deliver the existing LNG Carrier "Golar Arctic" as a floating storage and regasification unit (FSRU).Snam will install the FSRU in the port area of Portovesme, in Sardinia, as part of a project to supply the island with energy.The contract, worth 269 million euros (~$283 million), includes the vessel and the capex for Golar to convert the Golar Arctic into an FSRU with storage capacity for up to 140,000 cubic meters. Further to the full conversion of the vessel, the FSRU will be sold to the Snam Group.Golar said that the start of activities for the conversion…

GAS Entec has completed the conversion of a 125,000m³ LNG carrier into an FSRUfor KARMOL, a joint-venture between Turkey's Karpowership and Japan's Mitsui OSK Lines (MOL), for deployment in Senegal.The company, a subsidiary of Atlantic Gulf & Pacific International Holding (AG&P), has converted the LNG carrier into an 84 mmscfd Modular Floating Storage and Regasification Unit (M-FSRU) with the capacity to scale from 15 to 300 mmscfd per unit."This M-FSRU is the world's first modular floating LNG regasification terminal…

The kick-off ceremony for the realization of Gastrade SA's LNG FSRU facility in Alexandroupolis, Greece, was held on Tuesday, May 3, 2022, in the old Storage House of the Alexandroupolis Port Customs.Once delivered, the FSRU, with a capacity of 153,500 c.m. of LNG, will be moored in the offshore area 17.6 km southwest of the port of Alexandroupolis. It will be connected to the National Natural Gas Transmission System (NNGΤS) of Greece with a 28 km long pipeline, through which the gasified LNG will be transmitted to the markets of Greece…

Belgian shipowner Exmar reported a wider loss in the first quarter of 2022 as it continued to seek a user to charter one of its giant liquefied natural gas (LNG) ships.Exmar, which offers maritime and offshore services, reported a consolidated loss after tax of $7.7 million in the first three months, against a loss of $2.2 million a year earlier.Earnings were hit by two of Exmar's mammoth floating storage and regasification units (FSRU) being out of use during the quarter, but…

Fears of gas supply interruptions due to Russian gas export constraints are driving interest and demand for floating regasification terminals, with contracting activity for oil and gas floaters also being quite active, World Energy Reports said in April 2022 Floating Production Systems Report. Tensions in East Europe and Covid outbreak in China continue to rattle the energy sector. Oil prices remain above $100, despite efforts to lower prices by releasing crude from strategic reserves…

Reuters - European physical coal prices rose on Monday along with gains in gas, power and crude oil markets across the region, reflecting escalating tensions between Russia and Ukraine. Cargos for delivery in April to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were trading at $74.25 a tonne at 1720 GMT, up $0.25 from the previous settlement. Physical cargos for May delivery jumped $0.60 to $74.40 per metric ton. In the futures market, API2 coal contracts for delivery in 2015 edged up $1.49 to $82.10 a metric ton. Commodity prices rose on fears that a standoff between Russia and Ukraine could disrupt the shipment of gas from Europe's biggest supplier.