Marine link
 

Lng Market

TEN Enters Four-Year Time Charter

Tsakos Energy Navigation Ltd. ("TEN") (NYSE: TNP) has announced a four-year time charter for the 2007-built 150,000 m3 LNG carrier Neo Energy to a major international energy concern. The charter is expected to commence in the first quarter of next year upon expiration of the vessel’s existing employment. This new charter, in line with current market levels, is anticipated to make a significant contribution to the bottom line over its duration. “The operational performance of the Neo Energy since delivery in 2007 coupled with the current strength in the LNG markets has enabled us to secure an attractive employment for the vessel over the next four years,” stated Mr. Nikolas P. Tsakos, President and Chief Executive Officer of TEN. “The LNG market remains a close-knit and selective sector with demanding operating procedures. TEN has qualified as a reliable owner and operator of LNG tonnage and gained the acceptance of the LNG community worldwide. We view LNG transportation as integral in the overall energy chain, and we will continue to explore tangible opportunities in order to expand our footprint in this promising sector,” Mr. Tsakos concluded.


Crowley Enters LNG Market

Thomas B. Crowley, Jr., Crowley CEO, COO, COB, President (Photo: Crowley)

Crowley Maritime Corporation's petroleum services group is entering the Liquefied Natural Gas (LNG) market by acquiring Carib Energy LLC.  Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S. Department of Energy (DOE) for LNG transportation from the U.S. into Free Trade Agreement (FTA) countries. While Crowley’s overall strategic focus on the LNG market will span several of its diversified business


TEN Enters LNG Market

Tsakos Energy Navigation Limited (TEN) announced that it had signed a contract for the construction of a Liquefied Natural Gas (LNG) carrier. The 150,000 cubic meter capacity vessel will be built by Hyundai Heavy Industries in Korea, and is scheduled for delivery in March of 2007. Today's contract represents TEN's first newbuilding order in the rapidly growing LNG market. TEN also expects to receive 6 suezmaxes and 6 product carriers between 2004 and 2007 and remains engaged in


Keppel, BG Group JV to supply LNG Bunkers in Singapore

BG Group and Keppel to fuel ships with LNG in Singapore Photo BG Group

First delivery of LNG bunker expected to commence in 2017 Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), and BG Group plc (BG Group) have been selected to supply Liquefied Natural Gas (LNG) bunker to vessels in the Port of Singapore. The joint bid submitted by Keppel O&M and BG Group for the LNG bunker supplier licence is one of the two top bids selected by the Maritime and Port Authority of Singapore (MPA)


Total Signs Deal to Supply LNG to China's ENN

Image: ENN Energy

 Total SA has signed an agreement to supply liquefied natural gas to ENN Energy in China, according to a news release on the French energy company's website.   The deal is for 0.5 million metric tons of LNG per year for a period of 10 years and will be delivered from the company's facilities. Total didn't specify which projects if would source the product from but it has offtake from Australia's Ichthys project, geographically close to China.  


Singapore LNG Market to Grow at 10.39% Through 2025

Photo: Singapore LNG Corporation Pte Ltd

 The market for LNG in Singapore is projected to grow at a CAGR 10.39% during 2016-2025, due to the push from Singapore government towards adoption of cleaner energy sources, capacity addition of natural gas / LNG based power plants and emergence of Singapore as a regional trading hub for LNG in Asia-Pacific.    "Growing demand from power generation sector, favorable LNG prices and government initiatives to setup Singapore as LNG hub is expected to drive Singapore LNG


Trafigura Fixes 6 Voyage Charters from Golar LNG

Swiss trader Trafigura has taken up to six liquefied natural gas (LNG) vessels from Norwegian shipping company Golar LNG, likely on a single-voyage basis to transport cargoes, trading and shipping sources said. The vessels are to be put at Trafigura's disposal from now through August or possibly September and sources say each vessel may be used for only a single voyage. The sources said this type of arrangement resembles a Contract of Affreightment


Total to Broaden LNG Cooperation with Korea Gas

French oil and gas company Total said on Wednesday that it signed an agreement with Korea Gas to extend the cooperation in their liquefied natural gas (LNG) businesses.   The agreement is designed to jointly identify and pursue opportunities to develop the LNG market in Asia and in new importing countries, Total said in a statement.   The French group added that the firms would also cooperate in LNG trading and terminal optimisation.  


ABS Published FSRU Development Guidance

ABS has published the ABS Guide for Building and Classing LNG Regasification Vessels, outlining guidance for classing LNG regasification vessels.   “ABS has developed this industry-leading guidance based on extensive experience with the classification of LNG carriers,” says ABS Chairman, President and CEO Christopher J. Wiernicki. “As the world moves toward cleaner fuels and becomes more dependent on gas


LNG Prices Low on Oversupply

By Henning Gloystein   The Asian market for liquefied natural gas (LNG) remained subdued this week, weighed down by oversupply concerns and as the northern hemisphere exits its high demand summer season.   Spot prices for Asian LNG <LNG-AS> were at $5.40 per million British thermal units (mmBtu), down 5 cents from a week ago. That's more than 70 percent below the $20.50 per mmBtu peak from February 2014.  


Qatar to Maintain Dominance in Global LNG Market

Photo: Qatargas Operating Company Limited

 Qatar will maintain its dominance over the global liquefied natural gas market despite increased supply from Australia and the United States, the weekly report by Qatar National Bank (QNB) said.   A report in The Penisula quoting QNB said that Qatar currently accounts for 30


Nakilat, Höegh LNG Ink MoU on FSRU project

Sveinung J.S. Støhle, President and CEO of Höegh LNG & Nakilat’s Managing Director Eng. Abdullah Al-Sulaiti. Photo: Nakilat

Nakilat signed a Memorandum of Understanding (MoU) with Höegh LNG, exploring collaboration for Floating Storage and Regasification Unit (FSRU) business as part of its diversification strategy for opportunities and solutions to delivering LNG to the global markets


Qatar Seeks to Open New LNG Markets with Floating Terminals

Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar to sell its liquefied natural gas (LNG) via floating import terminals.   Hoegh LNG, a developer of floating LNG import terminals


Keppel Posts Lower Q2 Profit, Warns on Rig Outlook

Q2 profit S$161 million versus S$205 million year ago; O&M division net order book at S$3.4 billion.   Singaporean conglomerate Keppel Corp posted a 21 percent drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market.  


MOL Mulls LNG Power Generation on Ships

Photo: Mitsui O.S.K. Lines

 Mitsui O.S.K. Lines (MOL) is exploring the possibilities to generate power from liquefied natural gas (LNG) aboard ships as a low-cost, environmentally friendly alternative to land-based plants.   According to a report on Nikkei


Kongsberg's K-IMS Passes 100 LNG Installations

Image: Kongsberg Maritime

The Kongsberg Information Management System (K-IMS) has now had more than 100 installations for vessel owners and charterers in the LNG sector. As interest in data-sharing for operational efficiency grows in the LNG sector, Kongsberg  has conducted several successful customer trials to


LNG Sellers, Asian Buyers Spar Over Contract Terms

File Image (CREDIT: AdobeStock / (c) Fotmart)

A spat brewing between Qatar, the world's No.1 producer of liquefied natural gas (LNG), and its biggest customers in Japan underscores rising tensions between buyers and sellers of the super-chilled fuel as a supply glut unbalances the market.  


Small Scale LNG Market to Grow at 2.5% to 2022

Photo: Engie SA

 The Global Small Scale LNG Market is expected to grow over the CAGR of around 2.5% during the period 2014 to 2022, says a report by Market Research Future.   The growth of the Small Scale LNG Market is majorly driven by increased demand for energy in the Asia-Pacific region


Qatargas to Supply LNG to Shell

Photo: Qatargas Operating Company Limited

 Qatargas and Shell have signed a memorandum of understanding (MOU) that will lead to the two companies jointly researching liquefied natural gas (LNG) logistics.  Through this joint logistics research collaboration, Qatargas and Shell aim to develop new ways to optimize supply chains


US LNG Going Global

© Anatoly Kolodey / Adobe Stock photo

The U.S. liquified natural gas (LNG) market is ripe with opportunity, according to American Action Forum (AAF).   "When coupled with the tension surrounding Qatar (the largest exporter of natural gas in the world), this makes U.S


Golar, Delfin to Jointly Develop US FLNG Project

A joint development agreement between Delfin Midstream and Golar LNG Limited will see the two jointly develop the Delfin LNG project off the coast of Cameron Parish, La.   The joint development agreement will facilitate the financing, marketing, construction


India's LNG Market to Reach USD 30.7bln by 2025

Image: Petronet LNG Limited

 India Natural Gas and LNG market is expected to grow from US$ 19.7 billion in 2015 to US$ 30.7 billion by 2025 at a CAGR of 5.06% between 2016 and 2025.    According to a report by Research and Markets, natural gas including Regasified Liquefied Natural Gas (R-LNG) in India has


Dunkirk Plans LNG Fueling Station

Image: Port of Dunkerque

 Dunkirk's LNG terminal and Grand Port Maritime de Dunkerque have signed an agreement for the development of an LNG supply station.   The use of liquefied natural gas (LNG) by shipping and road vehicles has grown significantly in recent months with new projects (orders for ships


Qatar LNG Flows Unaffected by Crisis -Shell

Qatari exports of liquefied natural gas (LNG) remain stable amid ongoing tension between the world's biggest LNG exporter and its neighbours, an executive for Royal Dutch Shell said on Monday. "LNG flows remain stable, cargoes are going into the market," said Steve Hill


Huge Potential for LNG in Iberian Peninsula

Fernando Impuesto, CORE LNGas hive project coordinator from Enagas (Left) and Liv Hovem, Senior Vice President, DNV GL – Oil & Gas. Photo: DNV GL

 With the global fuel sulphur limit of 0.5% entering into force in 2020, the interest towards LNG as a marine fuel is increasing. One of the main obstacles to the accelerated uptake of LNG, however, is the uncertainty regarding future market volumes for LNG.   






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright