Marine Link
Friday, October 20, 2017

Lng Deal

India Eyes More LNG Purchases From Australia

Map: ProjectConnect

 India is trying to renegotiate LNG deal with Australia and looking at lowering the price of liquefied natural gas it plans to buy from the Gorgon project, says a report form PTI.   According to sources, when LNG deals are being done at 12 per cent or 12.5 per cent indexation, the Gorgon deal is certainly on the higher side.   Hence the Oil Ministry instructed Petronet LNG, a private firm whose chairman is the oil secretary of India, to rework the price.   Petronet had in August 2009 signed a 20-year deal to buy 1.44 million tonnes per annum of liquefied natural gas (LNG) at a price equivalent of 14.5 per cent of the prevailing oil rates.    The indexation agreed was one of the highest in the world, feels the Oil Ministry and the current company management, hence written to Exxon Mobil, the seller of Gorgon LNG, for reworking the price.    "Oil prices have fallen from over USD 100 per barrel that translated into a price of USD 14.5 per million British thermal unit for Gorgon LNG. But even through rates are less than half of that, still as a matter of principle, the indexation should be lowered," the source said.     LNG in spot or current market is available at USD 5-6 per mmBtu where as Gorgon LNG at current formula will cost USD 6.5 per mmBtu at on oil price of USD 45 per barrel. 

Iran signs $16b LNG deal with Malaysia

Iran and Malaysia's SKS have signed a $16b preliminary deal to develop Iran's southern Golshan and Ferdos gas fields and build plants to produce liquefied natural gas (LNG), according to reports. Source: Reuters

SembCorp Signs Long Term LNG Deal

Singapore’s SembCorp Marine Ltd has announced a long-term contract from Australia’s North West Shelf venture (NWS) to provide dry-docking, refit, and other marine services, for their fleet of LNG ships. This breakthrough contract signifies the first time that a major LNG consortium has committed itself to a long-term maintenance and refit contract in the region. At a time when Singapore is preparing itself to be a major hub and player in the LNG sector

Egypt, Russia Pact for LNG Shipments

Image by ESRG

 The Egyptian Natural Gas Holding Company (EGAS) signed an initial agreement with Russian company Rosneft to supply oil products and liquefied natural gas (LNG) shipments.   The document defines key terms of the future cooperation between the companies in the area of LNG supplies.   The implementation of the terms of the signed document will allow Rosneft to access the high growth potential Egyptian gas market and deepen broader cooperation between the two companies.  

Norway will be Lithuania's 2016 Top Gas Supplier

File Image: a modern LNG carrier (credit: DNV GL)

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports, the country's energy minister said on Monday. Russia's Gazprom had enjoyed a supply monopoly until the end of 2014, when Lithuania opened a floating LNG import terminal to reduce energy dependence on its former Soviet master. That allowed it to import gas from Norwegian tankers, as well as via pipeline from Russia.

GAIL, Gunvor Sign Time-Swap for U.S. LNG

File Image: CREDIT MISC

State-run gas company GAIL (India) Ltd has signed a time-swap deal with Swiss trader Gunvor to sell some of its U.S. liquefied natural gas (LNG), sources said, as the Indian firm tries to ease the burden of its costly foreign LNG supplies.   It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive.  

Egypt: Vitol to Supply 9 LNG Cargos, in Talks with BP

Vitol will supply Egypt with nine LNG cargos for two years starting June 2015, an Egyptian oil ministry statement said on Thursday.   The statement said the ministry was also finalizing talks with BP over a deal to supply the country with 21 LNG cargoes.   The latest contracts were part of a highly sought-after tender to buy 75 LNG cargoes.     (Writing by Yara Bayoumy; Editing by David Holmes)

GAIL to Finalize LNG Deal with Iran

Photo by  Iran Liquefed Natural Gas co

India’s state-run gas utility GAIL has begun talks with Iran to revive a decade-old LNG supply contract with the country, reports PTI.   The Business Standard has reported that GAIL has opened talks with Iran over the LNG contract whose value is estimated to be $22 billion in light of the prospects for the removal of sanctions against Iran.   "Dialogue has been initiated with Iranian counterparts to revive the LNG supply long-term SPA

Höegh LNG Orders 4 FSRU from Samsung Heavy

Höegh Gallant. Photo: Höegh LNG

 South Korea's Samsung Heavy Industries Co has won one firm Shipbuilding Contract (SBC) and an agreement for three optional  floating storage and regasification units (FSRUs) from Hoegh LNG Holdings.   Under the deal with Norway-based Hoegh LNG Holdings Ltd., the shipyard will build the vessel by May 2019, the company said in a regulatory filing. Samsung has an option to build three more FSRU units, it said.  

Korea’s Big 3 Yards in Path of Recovery

Photo: Samsung Heavy Industries

 South Korea’s shipbuilders are expected to recover this year after suffering from a global industrywide slump, reported The Korea Economic Daily.   The report said that Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) have already achieved more than a half of their annual targets.   SHI clinched deals worth US$4.8 billion coming into this year, which accounts for 74 percent of its annual target of $6.5 billion. It won orders for 13 ships worth US$4

MOL Names Newbuilding LNG Carrier 'Energy Liberty'

MOLs LNG carrier Papua. File Photo: MOL

 Mitsui O.S.K. Lines (MOL) has announced that on October 16, a naming ceremony for a newbuilding LNG carrier, jointly owned by MOL and Tokyo LNG Tanker, was held at the Tsu Shipyard of Japan Marine United Corporation.  Among the crowd of well-wishers on hand for the ceremony were Tokyo Gas Co., Ltd. President Michiaki Hirose, who gave the name Energy Liberty to the vessel, after which his wife cut the rope.  

Wood Wins LNG Platform FEED Contract

Pic:  John Wood Group PLC

 The Honghua Group Limited has awarded a $12 million front-end engineering design (FEED) contract to Wood for its liquefied natural gas (LNG) platform development in the West Delta area of the Gulf of Mexico.   The main objective of the FEED is to finalize the design of the world’s first offshore platform-based natural gas liquefaction and storage facility. Wood recently completed the pre-FEED for this project.  

Dordrecht Inland Seaport to Get LNG Bunker Station

Photo: Port of Rotterdam

 The Port of Rotterdam Authority wants a new multi-fuel bunkering station for refuelling with LNG and other cleaner fuels. The anticipated location of the bunkering station is Krabbegors/Duivelseiland at Dordrecht Inland Seaport.    The Port of Rotterdam Authority and PitPoint.LNG have therefore signed a declaration of intent regarding a joint investigation into the construction of such a multi-fuel bunkering station.    

BP’s LNG Carrier Fleet is Growing

BP said it will take delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio.   BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers. The vessels will join BP’s exixting fleet to help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BP’s global portfolio.  

H-Energy to Start West Coast LNG Terminal in May 2018

India's H-Energy Pvt Ltd, a unit of real estate group Hiranandani, will start operations at its liquefied natural gas (LNG) terminal in the western Maharashtra state by May 2018, its chief executive said on Wednesday.   India plans to raise the share of natural gas in its energy mix to 15 percent in three years from the current 6.5 percent, according to a plan set out by Prime Minister Narendra Modi's government.  

Finnish LNG Terminal Work Awarded

The port of Hamina will be the first LNG receiving terminal in Finland connected to Finnish gas grid. Photo:  Wärtsilä Energy Solutions

 The technology group Wärtsilä has announced it has been awarded a turn-key contract with Hamina LNG Oy to supply a liquefied natural gas (LNG) receiving terminal to be built in Hamina, Finland.   The scope includes site filling, soil refurbishment, civil works, infrastructure, full containment storage tank with a combined net volume of 30 000 m3, regasification and gas metering, BOG (boil-off gas handling) system, electrical and control system, unloading

Unifeeder Rolls out First Retrofitted LNG-Powered Shortsea Box Ship

Photo: Unifeeder A/S

 The world first shortsea container vessel with LNG is operated by Unifeeder. Unifeeder offer multimodal shipment by the world’s first LNG container vessel.    The environment has always been a major factor when the European industry choses partners. At Unifeeder, we are proud of being front runners operating and testing the first retrofitted LNG container vessel in the world, says Shortsea Director Niels Kjaer-Richardt

Chevron Starts LNG Output at Wheatstone Project

Wheatstone Project in Western Australia. Photo: Chevron Corporation.

Chevron Corporation announced it has started producing liquefied natural gas (LNG) at the Wheatstone Project in Western Australia. The first cargo is on track to be shipped in the coming weeks.   “First LNG production is a significant milestone and is a credit to our partners, contractors and the many thousands of people who collaborated to deliver this legacy asset,” said Chevron Chairman and CEO John Watson

Yamal LNG to Ship Two LNG Cargoes in November

(File photo: PAO Sovcomflot)

The Russian Yamal LNG project will ship the first two cargoes of liquefied natural gas in November, followed by another four in December, Russia's customs service said on Tuesday.   The Yamal LNG project is co-owned by local Russian gas producer Novatek, as well as France's Total, China's CNPC and the Silk Road Fund.   Reporting by Oksana Kobzeva 

Statoil Selects Gas4Sea for LNG Bunkering in Rotterdam

Photo: Gas4Sea

Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - have been selected by Norwegian multinational energy group Statoil to be their liquefied natural gas (LNG) marine fuel supplier in the port of Rotterdam, in the Netherlands, for four crude shuttle tankers.   The four planned dual fuel vessels are to come into service in early 2020 and will be operated by Statoil in Northern European seas.   Gas4Sea will supply LNG using the ENGIE Zeebrugge which started operations earlier

Skangas Delivers Milestone Fuel Change

(Photo: Skangas)

Skangas said its vessel Coralius has for the first time both cooled down tanks and delivered liquefied natural gas (LNG) in one operation. The receiving vessel LEG/C Navigator Aurora was supplied with just under 500 mt LNG in the middle of a voyage between Sweden and South Europe over October 7 and 8, 2017.   Going from using diesel oil to LNG requires time consuming but necessary process of cooling down operation of the receiving ship’s fuel gas tanks from ambient conditions to

Gothenburg Port Extends Discount Period for Vessels

The Port of Gothenburg has opted for the third year in succession not to increase the charges set out in the Port Tariff. Photo: Gothenburg Port Authority

 Gothenburg Port Authority has opted to keep the Port Tariff unchanged for the third year in succession. The charges for 2018 will thus be on the same level as 2015.   Port charges are levied on all vessels that call at the Port of Gothenburg. The charges are based on vessel type and gross tonnage, and are used to finance a range of activities, including fairway maintenance, traffic information and port safety.  

FLNG Hilli Episeyo Departs Singapore Early

 Golar LNG Limited said today that its floating liquefied natural gas (FLNG) vessel Hilli Episeyo departed Singapore for Cameroon earlier than anticipated, leaving at 10 a.m. local time on October 12.   Hilli Episeyo was scheduled to leave Singapore between October 15 and October 20, but Golar LNG said a decision was made to complete LNG bunkering in Cameroon rather than in Singapore. The voyage to Cameroon is expected to take between 32 and 40 days.   

Cheniere Partners Completes Train 4 at the Sabine Pass LNG

Loading of the first commissioning cargo at the Sabine Pass LNG Terminal - February 2016. File Photo: Cheniere Energy, Inc.

 Cheniere Energy Partners has announced that Substantial Completion of Train 4 of the Sabine Pass liquefaction project in Cameron Parish, Louisiana (SPL Project) was achieved on October 9, 2017.    Commissioning has been completed and Cheniere Partners' EPC partner Bechtel Oil, Gas and Chemicals has turned over care, custody, and control of Train 4 to Cheniere Partners.   Under a sale and purchase agreement (SPA) with GAIL (India) Limited

SUNY Maritime College to Host LNG Conference

© Александр Беспалый / Adobe Stock

As demand for liquefied natural gas (LNG) grows, so does the need for LNG carriers. Many shipping companies in recent years have placed orders for LNG ships, and shipyards are busy building them. The maritime industry is also exploring ships powered by natural gas, rather than more traditional sources.   To address this topic, SUNY Maritime College will host a conference, LNG: Not just a cargo, on Thursday, November 2

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News