Marine link
 

Lng Markets

LNG: $93B Capex in 5 Years

The new Douglas-Westwood LNG report forecasts five-year facilities Capex will exceed $93 billion. A bright future is forecast for the LNG industry, as growing long-term gas demand drives major investment in global LNG facilities. The World LNG Market Report 2011-2015, from award-winning energy business advisors Douglas-Westwood (DW), predicts the Pacific basin will be the main contributor to a ten-year global investment high of $26 billion per annum by 2015. World spend is forecast to recover momentum and Capex on LNG facilities for the 2011-2015 period is expected to total over $93 billion. A recovery in LNG demand, led by Asian consumers, is underway. China, in particular, has seen its LNG demand grow from 1 bcm in 2006 to around 13 bcm today. LNG imports to Western European and Latin American countries also increased. In addition there is the prospect of further demand for natural gas as the world considers the future of nuclear energy in the aftermath of the Japanese crisis. On the supply side, 2010 saw the commencement of major construction work on new facilities in Australia and Papua New Guinea. A Unique Market Report This latest edition of The World LNG Market Report highlights LNG facilities’ capital expenditure over the 2011-2015 period. It examines new prospects for LNG liquefaction & regasification terminals and LNG carriers, looks at the technology underlying the LNG business and presents market forecasts for activity in the sector


Total, KOGAS Extend Cooperation on LNG

Image: Korea Gas Corp

 Korea Gas Corp, the world’s biggest importer of LNG, has struck deals with French giant Total to extend its reach into the liquefaction sector, reports Reuters.   Total has pledged to press forward with investment in LNG despite the downturn in oil and gas prices and has signed a new agreement with South Korean utility company Kogas to explore mutual opportunities across the LNG value chain.  


Cheniere's LNG Program to Begin Accepting Cargo Nominations

Cheniere's North American LNG Gateway Program with issuance of a Request for Proposals to sell to Cheniere up to 200 cargoes per year of liquefied natural gas (LNG) for the years 2008 - 2010. Cheniere's North American LNG Gateway(TM) program will provide global LNG suppliers a direct platform to nominate cargoes into Cheniere's LNG receiving terminals starting with the Sabine Pass LNG Receiving Terminal, which is currently under construction in Louisiana


MOL China Shipping J/V Orders NSR LNG Carriers

LNG Carrier: Rendering MOL

Mitsui O.S.K. Lines (MOL) says its joint venture with China Shipping (Group) Company has signed shipbuilding contracts with Daewoo Shipbuilding & Marine Engineering (DSME) in Korea to build three ice class LNG carriers for the [Russian] Yamal LNG project. The ice class LNG carriers for the project will have independent ice-breaking capabilities that enable them to sail in icy seas with maximum 2.1m ice thickness


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)


Skangas Aquires Risavika LNG

Photo: Skangas

 Skangas, a unit of Gasum, signed a deal with Lyse Group to acquire the Risavika liquefied natural gas (LNG)production facility in Norway.    The acquisition of the Risavika production plant will strengthen Skangas’s presence in the downstream of the LNG value chain and secure Skangas’s commercial position in the Norwegian market and North Sea.   The Risavika production plant has an annual production capacity of 300,000 tonnes of liquefied natural gas (LNG)


ExxonMobil Chief Touts Q-Max Advantage

Rex Tillerson, CEO, Exxon Mobil

Speaking at the 19 World Petroleum Congress in Madrid, Mr. Tillerson outlined the challenge of supplying growing energy needs while minimizing the impact on the environment. “New energy technologies for energy supply, such as those enabling an increase in world LNG supplies, together with technologies to improve energy efficiency, will be critical in meeting the world’s energy challenge,” Mr. Tillerson said.


ABS and CCS Conduct Joint LNG Forum

Increased interest in the building of liquefied natural gas (LNG) carriers at Chinese shipyards spurred the recent Large LNG Carriers Forum, held in Shanghai, and conducted jointly by classification societies ABS and CCS (China Classification Society) in conjunction with leading LNG operators.       More than 150 representatives from the Chinese government, shipowners, shipbuilders, designers, energy corporations and universities attended the forum


Canada's First LNG Export Terminal Seen as One-off

Woodfibre LNG, Canada's first liquefied natural gas export project, will be a "nice-to-have" fillip for the country's gas producers but does not signal the start of a west coast LNG boom, industry watchers said on Monday.   Privately held Woodfibre LNG Ltd said on Friday it will start building its C$1.6 billion ($1.2 billion) project in Squamish, British Columbia, next year after its Singaporean parent company authorized the funds last week.  


Flex LNG signs deals to buy six new vessels

Image: Flex LNG

Oslo-listed Flex LNG has signed contracts to buy six new liquefied natural gas (LNG) vessels for its fleet by 2019, as it bets on increasing fuel demand from Britain and other countries, its chief executive told Reuters.   The gas shipping company said earlier this year it was considering buying the six vessels, each with around 170,000 cubic metres of capacity, subject to securing funding for the $1.2 billion transaction.  


Wison Granted AIP for Its Innovative Floating LNG Storage

Photo provided by Wison Group Holding Limited

 Wison Offshore & Marine announced that it has received Approval in Principle (AIP) from Bureau Veritas  for its newly-developed large-scale Floating LNG Storage and Regasification Terminal.    Featuring scalable storage capacity up to equivalent size of a Q-Max


S-Oil, Petronas Ink Long-term LNG Deal

South Korea's third-largest refiner S-Oil Corp signed a long-term liquefied natural gas (LNG) supply contract with Malaysia's Petronas for 15 years starting from next year, the North Asia company said on Friday.   S-Oil expects to buy 700


Vitol Signs Deal with Angola LNG

Photo: Vitol

 Angola LNG (ALNG) and Vitol, the world’s largest independent energy dealer, have entered into a multi-year LNG sales agreement. Under the agreement, ALNG cargoes will be delivered to Vitol at destinations around the world.  


Global LNG Bunkering Market to Reach USD 8.19bln by 2023

Photo: Shell

 Global LNG Bunkering market is expected to grow from $248.64 million in 2016 to reach $8187.35 million by 2023 with a CAGR of 64.7%.   According to Stratistics MRC, growing marine logistic business, cost efficient LNG products, and imposing environmental regulations on chemical


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.   


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


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.  


Dunkirk, Dunkerque Port Sign LNG Pact

Photo: Port of Dunkerque

 Dunkirk's LNG Terminal and Dunkerque-Port signed an agreement for the development of an liquefied natural gas (LNG) station to supply tank trucks.    The use of LNG by shipping has grown significantly in recent months with new projects (orders for ships, LNG supply stations, etc)


GasLog Updates LNG Market Outlook

Photo: GasLog

 During the quarter ended June 30, 2017, there was continued momentum in the start-up of new LNG liquefaction capacity with the fourth train at Sabine Pass commencing commercial production.    Later this year, Wheatstone in Australia and Cove Point on the east coast of the U.S


Qatargas Delivers First Q-Max Cargo to Thailand

Photo: Qatargas Operating Company Limited

 Qatargas delivered the first Q-Max cargo of Liquefied Natural Gas (LNG) under the long-term Sale and Purchase Agreement (SPA) between Qatar Liquefied Gas Company Limited - 3 (Qatargas 3) and PTT Public Company Limited to the Kingdom of Thailand’s Map Ta Phut LNG receiving terminal






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