Lithuania Plans to Buy an FSRU
Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently leasing a floating storage and regasification unit (FSRU), called Independence, from Norway's Hoegh LNG.The use of the vessel has allowed Lithuania to import LNG since 2014, breaking the monopoly Russia's Gazprom had on natural gas supply to the country as well as neighboring Latvia and Estonia."This will keep us able…
Shipping Industry Welcomes EU Support to Green Fuel
The shipping industry and the European Independent fuel suppliers welcome the European Parliament’s support to incentivize the uptake of low-carbon and carbon-free alternative fuels and to remove disparities in energy taxation.On 25 October the European Parliament adopted its report on The deployment of infrastructure for alternative fuels in the EU which pointed out that taxation has a major impact on the price competitiveness of alternative fuels and underlined that a technology…
Mitsubishi Shipbuilding Christens "LNG JUNO"
Mitsubishi Shipbuilding held a christening ceremony for a next-generation LNG (liquefied natural gas) carrier under construction for MOG-X LNG Shipholding S.A., a wholly owned subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL).The ship, named "LNG JUNO," is the third "Sayaringo STaGE" type vessel, and is Mitsubishi Shipbuilding's newest carrier to feature significant improvements in both LNG carrying capacity and fuel performance through adoption of a more efficient hull structure and an innovative hybrid propulsion system.
IEA Calls for Enhancing Global Natural Gas Security
The evolution of the global natural gas market, which has been driven by the growth in liquefied natural gas (LNG) demand, continues to change the relationship between buyers and sellers, and raises new challenges for the global security of energy supplies.Global natural gas markets are being reshaped by the development of major emerging LNG buyers led by China, and the rising production and exports from the United States. The third annual edition of the International Energy Agency’s…
Greek Shipowners Meet Danish Shipping
The Union of Greek Shipowners (UGS) has welcome to its premises the Board of Directors of Danish Shipping in the context of the bilateral meetings of the two national shipowners’ associations.Representing two traditional maritime nations, the Board of Directors of Danish Shipping, headed by its Chairman, Niels Smedegaard, met with the President,Theodore Veniamis and members of the UGS Board of Directors and engaged in what was described by both sides as “an open and constructive…
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.
British Ports Association Skeptical on Govt's Clean Air Strategy
The British Ports Association (BPA) has responded to the Government’s Clean Air Strategy which was published today and includes requirements for all major ports in England to develop air quality plans within the next year. Commenting on the strategy, Mark Simmonds, Policy Manager at the British Ports Association, said: “Ports and shipping are part of the solution, not the problem and it is disappointing that the Government have missed the opportunity to promote shipping as the cleanest way to move freight.
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.
China Navy Ship Makes Maiden Visit to Venezuela
A Chinese naval ship has traveled to Venezuela for the first time, following a visit by President Nicolas Maduro to Beijing this month, where he had been looking to gain China's support for the Latin American nation's struggling economy.The naval medical ship, known as the "Peace Ark", arrived on Saturday at the Venezuelan port of La Guaira for an eight-day period of "friendly visits" to the country, the official Xinhua news agency said on Sunday.Maduro, whose leftist government is under fire in Venezuela as the economy struggles with a fifth year of recession and hyperinflation…
Hoegh LNG Vessel to Leave Egypt Before Weekend
Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.The minister, Tarek El Molla, told Reuters the other vessel would stay behind as part of the petroleum ministry's strategy to maintain energy supplies for the country.Hoegh said Egypt Natural Gas Holding (EGAS), having decided to end its charter early…
Excelerate Energy Commissions Bangladesh’s First LNG Import Terminal
Excelerate Energy Bangladesh completed the commissioning of its Moheshkhali Floating LNG (MLNG) terminal – Bangladesh’s first liquefied natural gas (LNG) import facility – signifying the official commencement of operations for the project.This milestone was achieved approximately 25 months after the execution of project agreements, which took place in July 2016, with the state-owned Bangladesh Oil, Gas & Mineral Corporation (Petrobangla) and 13 months following the receipt of all permits required to achieve financial close in August 2017 with its lenders…
Swiss Fleet Dwindles as State Guarantees End
A dozen ships from the Swiss high seas fleet are being sold off as the global shipping crisis takes its toll on the quirky remnant of landlocked Switzerland's efforts to ensure supplies of essential goods at times of international unrest. Worried about the security of food and energy supplies during wartime, Switzerland launched its high seas fleet in 1941, putting Swiss flags on tankers and freighters it could call on at times of need. But as times changed and supply routes became more stable, Switzerland has limited its support since 1959 to debt guarantees for shipping lines able to reduce borrowing costs in return for pledges to make ships available if Bern needed them.
Vietnam Renews India Oil Deal In Tense South China Sea
Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region. The moves come at a delicate time in Beijing's relations with Vietnam, which claims parts of the sea, and India, which recently sent warships to monitor the Malacca Straits, through which most of China's energy supplies and trade passes. Vietnam granted Indian oil firm ONGC Videsh a two-year extension to explore oil block 128 in a letter that arrived earlier this week, the state-run company's managing director Narendra K. Verma told Reuters.
Hurricane Harvey Strengthens, Threatens US
Hurricane Harvey intensified early on Friday into potentially the most powerful hurricane to hit the U.S. mainland in more than a decade, as authorities warned locals to shelter from what could be life-threatening winds and floods. Harvey is set to make landfall late Friday or early Saturday on the central Texas coast where Corpus Christi and Houston are home to some of the biggest U.S. refineries. Oil and gas operations have already been disrupted and gasoline prices have spiked. "Now is the time to urgently hide from the wind.
Residents Flee South Texas Ahead of Harvey
Residents fleeing most powerful storm on U.S. mainland since 2005. Businesses closed and lines of cars streamed out of coastal Texas as officials called for residents to evacuate ahead of Hurricane Harvey, expected to arrive about midnight as the most powerful storm to hit the U.S. mainland in more than a decade. The hurricane is forecast to slam first near Corpus Christi, Texas, drop flooding rains along the central Texas coast and potentially loop back over the Gulf of Mexico before hitting Houston, some models showed. "My urgent message to my fellow Texans is that if you live in a region where evacuation has been ordered, you need to heed that advice and get out of harm's way while you can," Texas Gov. Greg Abbott said in a televised address.
Stuck at Sea, BP's LNG Shipment Highlights Egypt's Payment Struggle
BP's diversion of a tanker of liquefied natural gas (LNG) away from Egypt due to payment issues is the first sign that the country's currency crisis could be jeopardising its energy supplies, traders said. Earlier this month the tanker British Sapphire was diverted to Brazil rather than discharging in Egypt, with the delivery of the LNG cargo for Egypt delayed up until October, traders said. BP declined to comment. Egypt's state-owned EGAS was not available to comment. Egypt has been struggling to pay for U.S. dollar-priced oil products and LNG due to an acute foreign currency crisis, worsened by the Russian airliner disaster in October, which hit tourism revenue.
India to Import LNG from Australia
India may contract long-term supplies of liquefied natural gas (LNG) from Australia if price is comparable to Indian coal which remains the fuel of choice for power generation companies in New Delhi. Power Minister Piyush Goyal, who is currently on a visit to Australia for energy dialogue, conveyed India’s willingness to buy Australian LNG during a roundtable in Brisbane. Goyal stated that additionally, opportunities to control the entire value chain right from gas production…
Qatargas, RWE Ink SPA Deal for LNG Deliveries
Qatargas, the World’s Premier LNG Company, today announced a flexible Sale and Purchase Agreement (SPA) with RWE Supply Trading (RWEST), a leading European electricity and gas company. Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to RWEST in North West Europe for seven and a half years. Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer and Chairman of Qatargas Board of Directors, said: “Qatargas is committed to providing reliable, clean energy to consumers all over the world.
Eni Finds Giant Egyptian Offshore Gas Field
The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The Zohr gas field covers any area of 100 square kilometers and Eni said that "it could become one of the world’s largest natural-gas finds” and supply Egypt's needs for decades. Eni, owned by the Italian government, said that the field contains an estimated 30 trillion cubic feet (TCF) of natural gas. This compares with up to 22 TCF in Israel's Leviathan field.
LR to help China Design Shipborne Nuclear Power
Lloyd’s Register announced a co-operative Framework Agreement with the Nuclear Power Institute of China (NPIC) in Chengdu, to assist in the design and development of a safe and secure floating vessel containing a Small Modular Reactor (SMR) – a first for China. Mark Bassett, Nuclear Director at Lloyd’s Register Energy, says: “NPIC recognises Lloyd’s Register’s unique combination of experience in nuclear, offshore and marine safety and regulation. The first contract under this Framework Agreement is to develop new nuclear safety regulations…
Japan Wants U.S., South Korea Help in South China Sea
Japanese Prime Minister Shinzo Abe told South Korea's president on Monday he wanted cooperation between the two countries and the United States in maintaining an open and peaceful South China Sea, a Japanese government spokesman said. Abe has in the past been critical of China's assertiveness in the South China Sea, through which much of Japan and South Korea's trade and energy supplies pass. "He said Japan would like to cooperate with South Korea and the United States at various occasions to preserve the open, free and peaceful sea," Deputy Chief Cabinet Secretary Koichi Hagiuda told reporters after Abe held talks with President Park Geun-hye of South Korea in Seoul.
Largest Underwater CO2 Release from Pipeline - DNV GL
Carbon capture, utilisation and storage (CCUS) is gaining momentum to meet stringent climate change goals and secure energy supplies for the future. To fully understand the environmental and safety implications associated with the development of CO2 pipelines, DNV GL is conducting the oil and gas industry’s largest ever controlled release of carbon dioxide from an underwater pipeline at its full-scale Spadeadam Testing and Research Centre, located in Cumbria, UK. The planned underwater release…
U.S. Refiners Cash in on Mexico's Record Imports
U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply a fast-growing economy. The fuel trade could top a million barrels per day (bpd) at times in 2017 as Mexico becomes increasingly dependent on the United States for strategic energy supplies and providing business worth more than $15 billion a year to refiners such as Valero, Marathon Petroleum and Citgo Petroleum.