Energy Shortage News

Germany will almost halve planned capacity for liquefied natural gas (LNG) terminals in the Baltic Sea, a government source said, as Berlin revaluates its LNG needs given local resistance and an easing of energy bottlenecks.Two floating LNG terminals are to be sited at Mukran off the Ruegen coast with annual capacity of around 10 billion cubic meters (bcm), down from the 18 bcm previously planned, the source said on condition of anonymity.Deutsche Regas will operate the floating stations in Ruegen, a popular tourist attraction, instead of utility RWE, which said last month it did not want to o

There’s no energy shortage when it comes to projects promoting the viability of alternatively fueled marine vessels (alt-fueled vessels).Consider just a few examples:Crowley Maritime Corp will take delivery in 2023 of an electric tugboat, dubbed eWolf, built by Master Boat Builders in Coden, Ala.The Hydrogen One towboat, using methanol-to-hydrogen technology, is being developed by its owner Maritime Partners.Master Boat Builders and Robert Allan Ltd. announced last fall the creation of a new battery hybrid, the ElectRA 3000-H, designed for U.S.

When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions was worrying for those present - pressure is rising and the industry is losing a battle not to be seen as one of the world's biggest evils.The answer? Lure investors with higher returns and raise the PR game."There is no doubt - and…

Egypt has purchased two liquefied natural gas (LNG) cargoes for April delivery from two international companies, EGAS Chairman Khaled Abdel Badie told Reuters on Sunday, without specifying which two companies won the tender. EGAS launched a tender earlier this month, open only to some of its existing suppliers, for the delivery of one cargo on April 1-7, and another on April 27-28. Badie said two shipments for 170 thousand cubic metres each were successfully tendered for and EGAS was "in the final stage of contracting". Traders told Reuters last week that EGAS had so far failed to make purchases from suppliers, some of which were hesitant to arrange delivery on short notice.

The Egyptian Natural Gas Holding Company (EGAS) has reportedly failed to secure two cargoes for delivery in April, says a report in Reuters. The tender launched during last week was open to EGAS’ existing suppliers, however, delivery windows of April 1-7 for the first cargo and April 27-28 were difficult to arrange due to a short period notice. Traders said the first delivery window was difficult to arrange given the short notice period. For the late-April cargo, EGAS lined up commodity trader Trafigura as the supplier, but the deal ran into difficulties after EGAS tried to bring forward delivery to the middle of April, traders said. Neither of the two delivery slots has been filled as of Thursday, and EGAS is still in talks with potential suppliers over the two cargoes.

Seven companies reportedly met with Egyptian Natural Gas Holding Co. (EGAS) to discuss an  liquified natural gas (LNG) tender, including: Vitol, Noble Group, Trafigura, EDF Trading, PetroChina, Shell and Gas Natural, reports Reuters. EGAS will buy 55 LNG cargoes from November this year to December 2016 through a tender it has agreed to with those seven different companies. Originally, only 45 LNG cargoes were to be delivered. The cargoes are expected to meet much of Egypt's near-term energy needs as the government tries to cope with an energy shortage. Falling output and rising demand have turned the country from an oil and gas exporter to net importer and it has emerged as a major new market for LNG.

On March 28, 2015, officials from Engro Corporation, Excelerate Energy and the Government of Pakistan were present for the inauguration of Pakistan's first LNG import terminal in Port Qasim. Located in a channel of the Indus River east of Karachi, the terminal is a result of a fast-track LNG import solution built to alleviate the energy shortage facing the country, and was brought into service 11 months from the start of construction. Utilizing Excelerate's floating storage and regasification vessel (FSRU), the Exquisite, the facility has the capacity to deliver up to 690 MMcf/d of natural gas directly to Sui Southern Gas Company's natural gas pipeline system. As part of the commissioning process, Exquisite loaded its first LNG cargo in Ras Laffan, Qatar, on March 24, 2015.

Asian spot liquefied natural gas (LNG) prices were little changed on Friday as mild demand and the extended holiday period kept a lid on trading activity. The spot price for February was steady at about $10.10 per million British thermal units (mmBtu), in line with the previous week. Traders said, however, that prices were nominal given there was limited activity. Brazil's state-run energy giant Petrobras has shown interest in purchasing spot cargoes, one trader said, but high inventories across Asia have kept buyers on the sidelines there. There were early signs of demand for cargoes delivering in March, the source said. The LNG market has been slowly declining since September as energy prices generally have been hit by a slide in oil.

Egypt expects to agree a deal to import liquified natural gas from Algeria as early as this week, ministry sources said on Monday, as the country seeks to ease a chronic energy shortage. The agreement for six Algerian cargoes of 145,000 cubic metres of LNG each could be signed on Monday or Tuesday during Minister Sherif Ismail's visit to Algiers, a ministry source told Reuters. Egypt struck a deal in November with Norway's Hoegh LNG for a floating storage and regasification unit that will allow the country to begin importing LNG, a natural gas chilled to minus 162 degrees Celsius into a liquid state. After repeated delays, it is expected to launch at the end of March. Securing supplies from gas-exporter Algeria is one option Egypt is pursuing to ease its worst energy crunch in decades.

Egypt finalized a deal with Norway's Hoegh LNG for a long-delayed liquefied natural gas import terminal on Monday that will eventually help the power-hungry country resolve a chronic energy shortage. However, the expected launch date for the floating storage and regasification unit was pushed back to the end of March, the latest in a series of delays over the past two years. Liquefied natural gas shipper Hoegh signed a five-year contract with Egypt's EGAS in Cairo at an event that included Egypt's oil minister and the Norwegian ambassador. The firm was initially looking to start up operations by the third quarter of 2014 but the project was delayed earlier this year. In September, the oil ministry said the terminal would be up and running by December.

"China is our reliable friend," Russian President Vladimir Putin said on Monday in an interview ahead of a conference in Shanghai. Most evaluations of the bilateral relationship begin by reciting the historical border disputes, rift between Mao Zedong and Nikita Khrushchev, opening to China by Richard Nixon, and the perennial problem of reaching an agreement on gas pricing. But these are all essentially backward looking and ignore the growing community of interests between the two countries. The case for a closer bilateral relationship on energy, trade, security and diplomatic issues is compelling. In the energy sphere, the two countries are an almost perfect match: the world's largest net energy exporter and its second-largest net energy importer (2011) with a long land border.

German marine equipment suppliers are staying successful. Surveys of their industry association, the VDMA (German Engineering Federation), resulted in new record figures: in 2007, the sales achieved €11.9 billion with now 76,000 employees, making over 13.8% up on the previous year. The export rate was 73%. The sector could thus maintain and expand its world leading role for high tech systems for shipbuilding. 58% of the German suppliers expect the order inflow in home trading still to increase in 2008, pushed by the still extraordinarily high capacity utilization of the German shipyards. But the effects of the global shipbuilding boom can mainly be seen in the foreign markets.

Aker Kvaerner has been awarded a five year contract by Cuu Long Joint Operating Company (CLJOC) for the supply and installation of surface wellheads and valve trees in the Vietnamese Cuu Long Basin. Aker Kvaerner's business area Subsea will supply the wellhead and control tree system as well as associated components. The equipment will be used to support the new Sutu Vang (Golden Lion) and Sutu Den (Black Lion) fields of the Cuu Long Basin. With the rapid development of multiple industries, Vietnam is facing an energy shortage. Jointly operated by PetroVietnam, Conoco Phillips, KNOC and GEO Petrol, CLJOC is special purpose venture created to develop and operate Block 15-1 offshore Vietnam.