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Gas Transporting News

06 Nov 2019

Japan Marks 50 years of LNG Imports

File Image: AdobeStock / © Fotmart

Japanese gas buyers on Wednesday marked the 50th anniversary since the first cargo of liquefied natural gas (LNG) arrived in Japan, now the world's biggest importer of the fuel.The arrival of the cargo on Nov. 4, 1969 helped transform Japan's energy system, which had relied on oil, coal and gas from coal in an era of high growth, before nuclear power was developed.But Japan's energy situation is undergoing huge changes in the wake of the Fukushima nuclear disaster in 2011, which…

08 Feb 2019

Milaha Ups Stake in Nakilat

Qatar-based maritime transport and logistics company  Qatar Navigation (Milaha) has increased the company’s stake in compatriot liquefied natural gas (LNG) shipping giant Nakilat.Qatar Shipping Company, a subsidiary of Milaha, has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Company Ltd (Nakilat) representing 5.9% of Nakilat’s share capital.The Sale and Purchase Agreement was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company.Abdulrahman Essa Al-Mannai, President and CEO of Milaha Group, announced that Milaha was holding…

14 Aug 2017

Russia Sends LNG Through Northern Sea Route

Russia was now pitching itself as an important transporter of European gas to Asia, reports  Sputnik quoting Danila Bochkarev, a senior fellow at the EastWest Institute in Brussels. The Russian supertanker Christophe de Margerie is en route to South Korea, sailing the Northern Sea Route with a load of liquefied natural gas (LNG) from Norway. The shipment is a major step for Russia’s Sovcomflot to enter the global gas transportation market said the report. The Northern Sea Route cuts the travel time from Europe to Asia by a hefty 40 percent and the Christophe de Margerie will cover this distance in just 15 days. Sovcomflot has 128 tankers and 13 LNG transport ships.

11 Jan 2001

Fredriksen Ups Osprey Offering

Norway's John Fredriksen raised his offer price for Singapore's Osprey Maritime by 12.5 percent in a move seen likely to result in a management change and possible de-listing of the group. Fredriksen, through his privately held World Shipholding Ltd., lifted his offer from S$1.00 to S$1.125 per share for the 38.85 percent of the tanker group he does not already own. Osprey shares ended up 11 percent at S$1.11 after hitting a high of S$1.16. Volume was thin at 660,000 shares. After the market close, the firm announced that its board member Charles Klotz had resigned effective January 10. It did not give a reason. The higher offer comes after criticism from Osprey management that World's initial offer undervalued the company.