GasLog: LNG Demand Grew 9% in 2018
Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018, driven mainly by continued coal-to-gas switching in the industrial, commercial and residential sectors.South Korea, Pakistan, Thailand and Mexico also experienced strong growth in LNG imports during 2018.
Alucia2 Installing FarSounder 3D FLS
The FarSounder-1000 Forward Looking Sonar (FLS), has been selected by the OceanX exploration team to help provide safe passage for Alucia2, its new 85.3m research and exploration yacht. Admarel BV, a member of the Alewijnse Group, is the FarSounder dealer in the Netherlands instrumental in securing this sale.With the inclusion of a FarSounder-1000, operators of the vessel will be able to view a true underwater 3D image ahead of the ship up to 1000 meters range. The sonar’s technology…
Global LNG Production to Grow 11% This Year
Global Liquefied Natural Gas (LNG) production is on the growth trajectory as the global liquefaction capacity is expected to increase from 396 Mt in 2018 to 434 Mt in 2019.According to the energy consulting service company Rystad Energy, most of the new capacity will be added by the commissioning of US projects.The US capacity expected to grow from 29 Mt to 61 Mt this year as Cameron LNG, Elba Island and Freeport start operations and Sabine Pass and Corpus Christi continue to…
The Tanker Market: 2019 and Beyond
Late 2018 saw the tanker market bubble upwards through late November, with daily vessel hires moving in the direction of, though not yet reaching levels not seen since late 2014-2015, when oil prices were in freefall and inventories building to the brim. A few pundits have suggested that we are seeing a “mini 2014” where lowered oil prices are coaxing another inventory build which would drive tanker capacity utilization, and per diem freight inflows, higher. The oil market has changed over four years…
Sempra Energy's Port Arthur LNG in Pact with PGNiG
Poland's state-owned gas company Polish Oil & Gas Company (PGNiG) and Port Arthur LNG, LLC, a subsidiary of Sempra Energy, have entered into a definitive 20-year sale-and-purchase agreement for liquefied natural gas (LNG) from the Port Arthur LNG liquefaction-export facility under development in Jefferson County, Texas. The agreement defines basic terms and conditions of a 20-year contract to be finalized between the parties for the sales and purchase of two million tonnes per annum (Mtpa) of LNG…
Cheniere, Malaysia's Petronas Sign 20-Year LNG Pact
Houston-based Cheniere Energy Partners has signed a 20-year liquefied natural gas (LNG) supply deal with a subsidiary of Petronas, Malaysia's state-owned oil and natural gas company.Per long-term pact, Petronas agreed to buy about 1.1 million tons a year from the Sabine Pass facility, according to a statement Tuesday. That’s about a quarter of the sixth plant’s capacity. “Petronas is one of the largest and most experienced participants in the global LNG market, and we are pleased to have it as our newest foundation customer at Sabine Pass…
NYK in Charter Agreement with Mitsubishi
Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed long-term contracts with Diamond Gas International Pte. Ltd. (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers.Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC.The NYK Group will be responsible for ship management for the three ordered LNG carriers…
WFW Advises HSBC $123m Three Vessel Sinosure-backed Financing
Watson Farley & Williams advised HSBC Bank, HSBC Bank Middle East Limited HSBC Corporate Trustee Company and a syndicate of banks including Mashreqbank, HSBC Bank Middle East Limited and Bank of Communications Ltd in connection with three Sinosure-backed loan facilities totalling approximately US$123m to UAE-based Zakher Marine International Inc (ZMI), to finance the construction and acquisition of three new high-spec jack-up barges.The delivery of the final two barges in September 2018 completed a structured financing and delivery process which saw Mashreqbank joining the project in 2017.
Sempra Energy Signs New Mexican LNG Terminal
Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming reality as the natural gas utilities holding company announced agreements with three international firms.The San Diego-based company announced in a press release that that its subsidiaries Infraestructura Energetica Nova (IEnova) and Sempra LNG & Midstream have signed three Heads of Agreements (HOAs) with affiliates of Total, Mitsui & Co. and Tokyo Gas Co.
Sempra Initiates Cameron LNG Train 1 Commissioning
Sempra Energy announced that Cameron LNG has initiated the commissioning process for the support facilities and first liquefaction train of Phase 1 of its Hackberry, La., liquefaction-export project."All major construction activities have been completed to begin the commissioning and start-up process to produce LNG from the first liquefaction train," said Joseph A. Householder, president and chief operating officer of Sempra Energy."This is a significant milestone for this landmark U.S.
LNG Carrier Marvel Eagle Delivered to Mitsui
Japan's Mitsui OSK Lines (MOL) announced the delivery of the 155,000 cubic meter capacity liquefied natural gas (LNG) carrier Marvel Eagle to Mitsui & Co.Before the delivery, on September 5, a naming ceremony was held at the Kawasaki Heavy Industries, Ltd. Sakaide Shipyard before a large crowd of onlookers and representatives of the companies involved.The 299.9-meter vessel is the first of three newbuilding LNG carriers, for which MOL and Mitsui & Co., Ltd. signed charter contracts in September 2014 and January 2015.
OSV Taking on Water near Cameron, La.
An offshore supply vessel is partially submerged and taking on water near Cameron, La.U.S. Coast Guard crews were dispatched to the scene to investigate and respond to fuel discharge around the partially submerged vessel, the 145-foot OSV Candy Store, which reported it was taking on water early Monday morning.Once on scene, a Coast Guard Station Lake Charles 29-foot Response Boat-Small boat crew passed two dewatering pumps to the vessel.
Repsol to Buy LNG from Venture Global
Venture Global LNG announced that it has entered into a 20-year, binding Sales and Purchase Agreement (SPA) with Repsol for the supply of one million tonnes per annum (MTPA) of liquefied natural gas from the Venture Global Calcasieu Pass LNG export facility, currently under development in Cameron Parish, Louisiana, USA.Under this agreement, Repsol will purchase LNG on a free on board (FOB) basis for a 20-year term, starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility…
Seized Superyacht Linked to 1MDB Probe Arrives in Malaysia
A $250 million superyacht, impounded as part of a hunt for assets linked to the multi-billion dollar investigation into 1Malaysia Development Bhd, arrived at a port in Malaysia on Tuesday about six months after it was seized.The Cayman Islands-flagged Equanimity was first seized in the Indonesian holiday venue of Bali in February at the request of U.S. authorities investigating 1MDB.The Malaysian state fund is at the center of money-laundering probes in at least six countries, including the United States, Switzerland and Singapore.
Total Closes USD 1.5 bln Acquisition of Engie's Upstream LNG Business
Total announces the closing of the acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5 billion. Additional payments of up to $ 550 million could be payable by Total in case of an improvement in the oil markets in the coming years. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe.
New Larger Ferry Arrives in NYC
Ridership on the new NYC Ferry system has far exceeded expectations, serving 5 million passengers since the service was launched in May 2017. Now, in response to the record-breaking demand, new larger-capacity ferries are being built for New York waters, the first of which, Ocean Queen Rockstar, has arrived in New York this week.Ocean Queen Rockstar, the first in a series of six new 350-passenger capacity vessels being built for the NYC Ferry fleet, completed sea trials and journeyed 2,200 nautical miles from builder Metal Shark’s Gulf Coast shipyard to New York Harbor earlier this week.
Mitsubishi Shipbuilding Holds Christening for Next-Gen LNG Carrier
Mitsubishi Shipbuilding held the christening ceremony for a next-generation LNG (liquefied natural gas) carrier under construction for a joint venture of Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK Line). The ship, named "Diamond Gas Rose", is the second "Sayaringo STaGE" type vessel, Mitsubishi Shipbuilding's newest carrier that achieves significant improvements in both LNG carrying capacity and fuel performance through adoption of a more efficient hull structure and an innovative hybrid propulsion system.
ABS Classes Next Generation LNG Carrier
ABS has confirmed that the ABS-classed Diamond Gas Orchid, the world’s first "Sayaringo STaGE" next generation LNG carrier, has been delivered to Diamond LNG Shipping, a joint venture between Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Ordered by Diamond LNG Shipping through MI LNG Company, Ltd., constructed by Nagasaki-based Mitsubishi Heavy Industries Marine Structure Co., Ltd. and delivered by Mitsubishi Shipbuilding Co., Ltd., the innovative carrier introduces…
Rescuers Hunting for Ferry Disaster Victims in Indonesia
The search for victims of a ferry that sank in the lake of an ancient supervolcano crater in Indonesia will resume on Wednesday with divers and an underwater drone to scour the depths for at least 128 missing passengers.The wooden tourist ferry sank in rough weather on Lake Toba on Sumatra island on Monday. Eighteen survivors were found that evening, but only one body was recovered, and a day long search on Tuesday was suspended having failed to account for any more.One survivor, Widya, said her family died when the boat was hit by strong waves."There were at least five couples with two children each. I wish I had died with my family…
Panama Imports Its First LNG Cargo
Panama has imported its first liquefied natural gas (LNG) cargo to commission the newly built $1 billion Costa Norte facility and power plant at Colon, expected to be a launch-pad for LNG trade across Central America.Many utilities in Central America and the Caribbean remain reliant on burning oil to generate electricity, but LNG offers a cleaner, cheaper and more efficient alternative.Shipping data shows the Engie-chartered Provalys tanker arrived last week, carrying a cargo exported from the Sabine Pass plant in Louisiana in March.AES Panama, a unit of U.S.
China's Export Growth Steady, Import Growth Faster
China maintained solid export growth of 12.6 percent in May, slightly slower than in April, but still providing good news for Beijing's policymakers as they deal with tough trade negotiations with Washington.Imports also rose more than anticipated in May and at the fastest pace since January, with the data coming at a time when China has pledged to its trade partners - including the United States - that steps would be taken to increase imports.China, the world's largest exporter…
Rolls-Royce Gas Turbine Selected for Japan’s New Frigate
Rolls-Royce reports it has been selected to supply its MT30 gas turbine to power a new class of frigates for the Japan Maritime Self Defence Force (JMSDF).The selection means Japan is the fifth nation to select the MT30 for a major naval shipbuilding program.Sam Cameron, Rolls-Royce, Senior Vice President – Defence, said, “Japan’s selection of the MT30 is very significant and means that the three largest users of marine gas turbines, have all endorsed the capabilities of the MT30…
Tokyo Gas Takes First LNG Cargo from Cove Point
Japan received its first shipment of liquefied natural gas (LNG) on Monday from Dominion Energy Inc's newly completed Cove Point export plant, the beginning of a jump in imports from the United States by the world's biggest buyer of the fuel.The docking of the tanker LNG Sakura at Tokyo Gas Co's Negishi terminal near Tokyo is another marker of shifting global energy flows as the United States ramps up exports of gas and oil from shale formations.The cargo is the first of 2.2 million tonnes of LNG a year Japanese companies are purchasing under long-term contracts from Cove Point in Maryland.