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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.  


Exmar to Use Iranian Carriers to Ship LNG

Reuters has reported that Iranian shipbuilder SADRA said it would build 10 ships for Belgium's Exmar to export Iranian liquefied natural gas (LNG) although Iran's efforts to produce the fuel are deadlocked. The total value of the 10 high-technology vessels would be $2.4b, Iran's Industry Minister Alireza Tahmasbi told state television. He told the ISNA students news agency that SADRA might sign a another deal for four more ships.


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.  


MOL to Build Japan's First LNG-Fueled Tugboat

Image: Mitsui O.S.K. Lines

 Mitsui O.S.K. Lines (MOL) has announced the company's decision to build an LNG-fueled tugboat.    The new tugboat, the first LNG-fueled tug in Japan, will conform to the IGF code issued in January of this year and is subject to be examined by Japan's Ministry of Land


Skangas Names LNG Bunker Supply Ship Coralius

Photo: Skangas

 Coralius, the first European built LNG bunker and distribution vessel was named Monday, May 22, by Johanna Lamminen, Chair of the Board of Skangas and Chief Executive Officer of Gasum.    The 5,800 cbm vessel was commissioned by owners Anthony Veder and Sirius Shipping in 2015


Stolt-Nielsen Orders Small LNG Carriers

Stolt-Nielsen Limited subsidiary Stolt-Nielsen Gas B.V. (SNG) has contracted with Keppel Singmarine for the construction of two 7,500 cbm liquefied natural gas (LNG) carriers, with options to purchase three additional similar ships.  


Acquisitions to Yield Better Results for Hoegh LNG

Höegh Gallant. Photo: Höegh LNG Partners LP

 Hoegh LNG Partners closed the acquisition of 51% interest in Höegh LNG Colombia Holding, the owner of the entities that own and operate the Höegh Grace on January 3, 2017.   The results of the Höegh Grace contributed to the Partnership's earnings for the full first


Thailand’s MTT Arranges Emergency Response Framework

The Map Ta Phut Tank Terminal Company (MTT) signed an official preparedness framework agreement with Ardent. Ffrom left: Polshom Chan-urai, Managing Director from MTT; Bas Michiels, Ardent’s Asia Commercial Director; and Oliver Timofei, Ardent’s Director of Emergency Management. (Photo: Ardent)

 Thailand’s MTT Arranges Emergency Response Framework   The Map Ta Phut Tank Terminal Company (MTT) has signed an official preparedness framework agreement with Ardent. The deal is the first of its kind in Thailand and is specifically structured to mitigate risk by pre-staging


Egypt Weans Itself off Foreign Gas

Egypt seeking to defer up to 25 LNG cargoes this year-trade; talks with trade houses and producers ongoing.   Egypt is holding talks with its liquefied natural gas (LNG) suppliers to defer contracted shipments this year and aims to cut back on purchases in 2018


Crowley to Supply LNG in Puerto Rico

Photo: Crowley

Crowley Maritime Corp.’s  liquefied natural gas  (LNG) services group has been awarded a multi-year contract to supply additional volumes of containerized, U.S.-sourced LNG to a major pharmaceutical company’s manufacturing plants in Puerto Rico.  


Pasha Hawaii Taps Keppel Fels to Build LNG-Fueled Boxships

A rendering of one of Pashas planned LNG fueled containerships. (CREDIT: Pasha)

Delivery of First Vessel Planned for Early 2020.   Honolulu-based Pasha Hawaii today announced that the company has selected Keppel AmFELS in Brownsville, TX, a subsidiary of Keppel Offshore & Marine (Keppel O&M) for the construction of two new Liquefied Natural Gas (LNG) fueled


Caterpillar Marine Plans LNG Test Site

Photo: Caterpillar

With eyes on the future of liquefied natural gas (LNG) in the maritime sector, Caterpillar Marine said it will unveil a first-of-its-kind LNG test bed for gas-fuelled engines at its facility in Kiel, Germany where the company will aim to improve understanding of related technology and enhance its


TMC Tallies another Höegh FSRU Deal

Vessel under construction at Samsung Heavy Industries to be delivered Q2 2019. (Photo: Höegh LNG)

TMC Compressors said it has secured a contract from Samsung Heavy Industries to deliver a marine compressed air system to a floating storage and regasification unit (FSRU) the South Korean shipyard is building for Höegh LNG.   


In Demand: Hoegh LNG’s Sveinung Stoehle

The business model: Hoegh LNG president and CEO, Sveinung Støhle. Photo: handout

Satisfied with the recent opening of a new floating LNG import terminal in Turkey plus contract successes in Africa and Asia, Hoegh LNG CEO and president, Sveinung Stoehle, cautiously lets us into his stylish Oslo offices for a bit of “disclosure”


BP to supply LNG to Indonesia

Photo: BP

 BP has signed an agreement with Indonesian state-owned power utility Perusahaan Listrik Negara (PLN) to supply 16 LNG cargoes annually from Tangguh project during the period 2020 to 2035, Reuters reported.   The Indonesian oil and gas regulator SKKMigas said that the supply will be


Russia Wants to Sell Sovcomflot to Small-stake Investors

Photo: Sovcomflot

Russia plans to sell part of state shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow's control of the group, banking and industry sources say.  


Dynagas Closes USD 480mln Term Loan B

Photo: Dynagas

 Dynagas LNG Partners, an international owner and operator of liquefied natural gas (LNG) carriers, announced  the closing of a USD 480 million Senior Secured Term Loan B facility (the "Term Loan B") by its wholly-owned subsidiary, Arctic LNG Carriers Ltd.  


Samsung Heavy Bags Order for 2 LNG Carriers

Photo: Samsung Heavy Industries

 South Korea’s Samsung Heavy Industries (SHI) has won a $100 million order to build two liquefied natural gas (LNG) carriers for Korea Line, reports Yohnap.   Korea Gas Corp. (KOGAS) has chartered Korea Line to transport LNG from Tongyeong






 
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