Estonia's Eesti Energia to Import Novatek Gas
Estonia's energy group Eesti Energia is all set to import gas from Russia's largest private gas company Novatek via Lithuania's LNG terminal based in Klaipeda, which is operated by KN, in September.The contract with the new Klaipeda LNG terminal user was signed on Thursday. It is planned that the first cargo of Eesti Energia in the history of Klaipėda LNG Terminal will arrive in Klaipėda at the end of September. “The contract signed with Eesti Energia confirms that the conditions for using our reliable terminal satisfy the users of the terminal and natural gas users in Lithuania and abroad. Gas was already imported to other Baltic countries through Klaipėda LNG Terminal before…
LNG Market Outlook by Flex LNG
The LNG shipping market tightened throughout the third quarter, and rates increased sharply in October following gradual increases since May. This was due in part to strong LNG demand from China which helped to widen the arbitrage between spot LNG import prices in Europe, U.S. and Asia. This led to increased cargoes from the Atlantic basin and an associated increase of average sailing distances. The current market dynamic is supportive for a further increase in rates during a seasonally strong period of the year. It is also important to note that a relatively small portion of the global fleet of LNGC operates in the spot market (less than 10%), which can result in periods of increased volatility.
NOIA Welcomes BOEM Shell's Plan Conditional Approval
The BOEM's (Bureau of Ocean Energy Management) decision to conditionally allow Shell to proceed with the carefully planned and coordinated drilling effort in Alaska is good news. The potential for energy development in the Chukchi Sea would allow Alaskans to benefit from well-paying jobs and resources to safeguard the environment, protect native traditional activities, and improve communities. The Trans-Alaska Pipeline may also benefit from the flow of resulting production. For the rest of the U.S. and the world, successful oil and natural gas development in the area will help to meet the ever increasing demand for reliable, reasonably priced energy.
NOIA President Comments on Passage of HR 2021
National Ocean Industries Association (NOIA) President Randall Luthi has issued the following in response to the House of Representative’s passage of HR 2021. “The passage of HR 2021, the Jobs and Permitting Act of 2011, is a key to opening the door to American energy security and jobs, not only in the near future, but in 2021 as well. This bill, along with others passed earlier by the House of Representatives, is setting a firm foundation for our future. It is my hope the Senate will take up and pass this legislation in the near future.
NOIA Applauds Passage of HR 1230
Washington, D.C. – The National Ocean Industries Association (NOIA) congratulates the U.S. House of Representatives for the bipartisan passage today of H.R. 1230, “Restarting American Offshore Leasing Now Act.” If enacted by the full Congress and signed into law by the President, the bill requires that federal offshore lease sales that have been delayed start up again in the Gulf of Mexico and off the east coast of the United States. “In this time of high fuel prices, the passage…
