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Tuesday, August 21, 2018

Flng News

Golar LNG Closes FLNG Hilli Episeyo Financing

Image: Golar LNG Ltd

Owner and operator of LNG carriers Golar LNG has secured $ 200 million in additional liquidity as part of a debt financing deal related to the Hilli Episeyo. Golar LNG announced that following the June 4th announcement of commercial acceptance of Hilli Episeyo, the Company has repaid the $640 million drawn under the $700 million construction financing facility and drawn down on the post acceptance $960 million lease financing facility provided by CSSC Leasing. After the closing therefore an additional $320 million of liquidity has been received by Golar.

Golar LNG Partners Completes Sale of Golar Hilli

Image: Golar LNG

Golar LNG Partners have completed the acquisition of 50 percent equity in FLNG Hilli Episeyo located offshore Kribi in Cameroon, from Golar LNG, Keppel and Black and Veatch. "Further to our  announcement on August 16, 2017, that it has completed the acquisition of 50% of the common units in Golar Hilli, the indirect owner of the FLNG Hilli Episeyo," said a press release from the company. The acquired interest in Hilli LLC represents the equivalent of 50% of the two liquefaction trains…

Offshore Energy: LR Supports Mozambique FLNG Project

An artist's impression of the Coral South FLNG unit. Photo: © Lloyd's Register

The scope of work that LR is undertaking covers design, procurement, certification, construction, integration and commissioning, as well as providing classification services under a risk based inspection regime to the FLNG when it enters into service in 2022.The Coral South field is being developed by Eni in Area Four of the Rovuma Basin, off the coast of Mozambique. The floating liquefied natural gas (FLNG) unit will be Africa’s first floating gas facility. The size, quality and position of the field’s resources are set to transform Mozambique’s economy.

Keppel Wins FPSO, FSRU Contracts

In Brazil, Keppel FELS Brasil Ltda (Keppel FELS Brasil) has been engaged by MODEC Offshore Production Systems (Singapore) Pte Ltd., part of the MODEC, Inc. group, to undertake the topside module fabrication and integration of the FPSO Carioca MV30, a Floating Production Storage and Offloading vessel (FPSO). This is the sixth FPSO collaboration between Keppel FELS Brasil and MODEC.In Singapore, Keppel Shipyard Ltd (Keppel Shipyard) has been entrusted with the conversion of a LNG Carrier to a Floating Storage and Re-gasification Unit (FSRU) by a leading global operator of oil and gas production vessels.Mr Chris Ong, CEO of Keppel O&M, said…

Wison Wins FEED Contract for Canadian FLNG Project

Last year, Wison Offshore & Marine delivered the Caribbean FLNG on an EPC basis after liquefaction performance testing for the facility in its yard in China. (Photo: Wison)

Wison Offshore & Marine announced it has been awarded a contract to carry out front-end engineering design (FEED) for a proposed floating liquefied natural gas (FLNG) project sited in British Columbia, Canada.Wison said it has entered into a Technical Service Agreement (TSA) with the project’s developer Western LNG LLC, pursuant to which Wison will develop the basis of design (BOD) and carry out FEED wordk. Western also appointed Wison as the EPC service provider for the floating liquefaction plant upon project FID.Under the terms of the TSA…

Wison Bags FEED Contract for FLNG Project from Western LNG

Image: Wison Offshore & Marine

Wison Offshore & Marine and Western LNG signed a technical service agreement (TSA) for the new floating liquefied natural gas (LNG) project that Western is developing in British Columbia, Canada.Pursuant to the TSA, Wison will develop the basis of design (BOD) and carry out front-end engineering design (FEED) for the proposed FLNG to be sited at the proposed facility.Western has also agreed to the appointment of Wison as the EPC service provider for the floating liquefaction plant upon project FID.Under the terms of the TSA…

Hoegh LNG to Supply FLNG Terminal to Australian Import Project

(File photo: Hoegh LNG)

Norway's Hoegh LNG has won a tender to supply a floating LNG import terminal for a consortium aiming to import liquefied natural gas to Australia's east coast from 2020 in a push to boost local supply.Australian Industrial Energy, a consortium that includes Japan's JERA and Marubeni Corp, said on Monday it signed an agreement giving it the right to lease one of Hoegh LNG's floating storage and regasification units (FSRU), to be docked at Port Kembla.The project needs approvals from the state of New South Wales, which is evaluating the proposal on a fast track as "critical state significant inf

LNG Trade to Grow by 11% in 2018 -Clarksons

© akiyoko / Adobe Stock

The liquefied natural gas (LNG) trade is expected to achieve further growth of 11 percent for 2018, according to a recent report from Clarksons Research. The forecast comes on the heels 2017's 9 percent growth to 929mt. By comparison, the LNG trade averaged 0.3 percent growth from 2012 to 2015.“Global trade in LNG has moved into a strong growth phase, with a 9 percent increase in 2017 expected to be followed by further growth of 11 percent in 2018,” said Steve Gordon, Managing Director of Clarksons Research.

Shell Feeds Gas to Australia's New Prelude FLNG

Prelude FLNG (File photo courtesy Shell)

Royal Dutch Shell has introduced gas to its 490 meter (1,600 ft) long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on Wednesday.Gas was fed to the unit from liquefied natural gas (LNG) carrier Gallina, she said.

World's Largest Vessel Set to Sail in 2018

Prelude floating liquefied natural gas facility (producing LNG, LPG and condensate). Photo: Shell

In 2018,  Shell's huge floating liquefied natural gas (FLNG) Prelude, the world's largest vessel, will begin its job of extracting and processing gas at sea, reported CNBC. The 488-meter-long and 74-meter-wide floating facility left the shipyard in South Korea in late June and reached the Australian waters in late July. Currently, the vessel, which is almost one-third of a mile long with a deck longer than four soccer fields,  sits at its first location, Shell's Prelude gas field, around 125 miles north off the Western Australian coast.

Samsung Heavy Bags USD 197 Mln LNG Carrier Order

Photo: Samsung Heavy Industries Co., Ltd

South Korean shipbuilder Samsung Heavy Industries (SHI) has bagged a KRW 210 billion (USD 195 million) deal, for construction of an liquefied natural gas (LNG) carrier. A report in Business Korea said that SHI will ink the contract with a foreign shipping company by the end of the year, Samsung Heavy Industries officials said. The name of the company, however, remained undisclosed. SHI reportedly said it is a “foreign company”. The ship will have capacity of transporting 180,000 cubic meters of LNG and she will be probably delivered in 2020, according to local media.

Iran Cancels Norwegian FLNG Project

Image: IFLNG AS

Iran oil minister Bijan Namdar Zangeneh said that the agreement signed with the Norwegian IFLNG company has already been annulled. A report in the Trend said that the  deal with Norwegian Hemla was  cancelled following the criticism by some Iranian MPs. The report quoted Iran’s oil minister Bijan Namdar Zanganeh saying that the deal is cancelled following the some criticism regarding the contract terms. In October 2017, Iran signed a contract with Norwegian oil and gas company to build the country’s first floating liquefied natural gas (FLNG) unit in the Persian Gulf.

LNG Carrier Seri Camar Delivered to MISC

MISC’s fourth MOSS-Type LNG carrier, the Seri Camar (Photo: MISC)

MISC Group has taken delivery of the 150,200 CBM liquefied natural gas (LNG) carrier Seri Camar, the fourth in a series of five newbuild MOSS-Type Seri C Class vessels built by Hyundai Heavy Industries (HHI). Owned by MISC, the Malaysian-flagged Seri Camar joins sister vessels Seri Cenderawasih, Seri Camellia and Seri Cempaka on long-term charter to PETRONAS. The delivery brings the current number of MISC’s LNG fleet to 28 vessels. The vessel was delivered at a naming ceremony held at the HHI yard in Ulsan, South Korea, attended by PETRONAS Executive Vice President & CEO Upstream, Y. Bhg.

Golar LNG Partners Updates on Acquisitions

Photo by Golar LNG Partners LP

Golar LNG Partners announced that it had entered into an agreement to acquire an equity interest in FLNG Hilli Episeyo last year. Equivalent to 50% of the two contracted liquefaction trains, out of a total of four, the common units also include a 5% stake in any future incremental earnings generated by the currently uncontracted expansion capacity but do not include exposure to the oil linked component of Hilli's tolling fee. FLNG Hilli Episeyo arrived in Cameroon in late November.

Start of Golar's FLNG in Cameroon May Draw More Africa Clients

Golar LNG said on Monday it had started production at its floating LNG (FLNG) platform in Cameroon, the world's second working example of the nascent technology and a milestone likely to boost its Fortuna project in Equatorial Guinea. As the cost of land-based LNG plants more than tripled in the decade to 2013, Golar pioneered the conversion of ageing LNG tankers into giant refrigerators capable of chilling gas into its liquid form at minus 162 Celsius. Natural gas when liquefied can be shipped and sold around the world on tankers, like oil. By starting up the pilot floating plant in Cameroon, Golar is removing uncertainty about the risks associated with squeezing equipment into a fraction of the space occupied by an LNG plant on land, shipping analysts and industry sources say.

BP Selects McDermott, BHGE for Subsea Contracts

Photo: McDermott International, Inc

McDermott International and Baker Hughes (BHGE), a GE company  announced the selection of front-end engineering design (FEED) studies in advance of a substantial engineering, procurement, construction and installation (EPCI) contract for BP’s Tortue/Ahmeyim Field Development, a major gas project located on the maritime border of Mauritania and Senegal. During this initial engineering phase, McDermott will work on defining the subsea umbilicals, risers and flowlines (SURF) scope for the project, while BHGE will focus on the subsea production system (SPS) scope.

Production Floaters Orders Are on the Rebound

© sadagus/Adobe Stock

Fifteen production floaters were contracted in 2017 – 11 FPSOs, two production semis, a wellhead TLP and an FLNG – and the number of deep water projects in the near-term planning queue indicates production floater orders are set to accelerate. This is a big change from 2016 when orders for new units totally dried up and the deepwater future looked pretty bleak. Here’s a round-up of contracts awarded last year and in January 2018. Tempera FPSO - Keppel in January 2017 received a contract from Dixstone Holdings…

KOTUG Buys Teekay’s Stake in Australian Towage JV

RT Raven (Photo: Kotug)

KOTUG Australia and Teekay Shipping Australia Pty Ltd. have reached a deal to reshape KT Maritime Services Australia Pty Ltd. (KTM) from a 50/50 joint venture to a full subsidiary of the KOTUG group. KTM was incorporated in 2012 to serve the Australian towage market. Now, after several years of working with KOTUG to establish this business, Teekay will exit KTM to focus on its Australian ship management, crewing and consultancy businesses. The deal received unanimous approval from the boards of both parent companies and was executed in the first week of April 2018.

SHI Bags a 180K LNGC Investment with an Option

Photo: Samsung Heavy Industries

Samsung Heavy Industries(SHI) revealed on March 5, 2018 that one 180K ㎥ LNG carrier newbuilding has been approved by the board of an overseas owner. The contract, is subject to agreement on the shipbuilding contract terms, which are scheduled to be agreed by March 9, 2018. SHI have granted an option for a further shipbuilding contract which remains subject to overseas owner board approval. SHI's 2018 orders so far include 8 containerships, 1 LNG carrier, and 2 tankers totaling 11 vessels worth 1.03 billion USD. The new LNGC contract would extend the order total to 12.

TechnipFMC Grabs BP FPSO Design Contract

FPSO. Photo: TechnipFMC plc

UK-based TechnipFMC has been awarded a front-end engineering design (FEED) contract by BP for the floating production storage and offloading (FPSO) unit for the Tortue/Ahmeyim Field Development, a major LNG (liquefied natural gas) project located offshore on the maritime border of Mauritania and Senegal. The agreement between the two companies provides a mechanism to allow a transition of the contract to an Engineering, Procurement, Construction and Installation (EPCI) contract at a later stage.

Golar LNG Enters Preliminary Deal for BP FLNG

Golar LNG Limited announced it has entered into a Preliminary Agreement and exchanged Heads of Terms (HoT) for an FLNG vessel for phase 1A of the Greater Tortue / Ahmeyin field, located offshore Mauritania and Senegal.The Preliminary Agreement with BP Mauritania Investments Ltd and BP Senegal Investments Ltd creates obligations on Golar to progress FEED work and be ready for a vessel conversion from July 1, 2018 onward, which would be contingent on Project FID, expected end 2018.The vessel conversion would take place at Keppel Shipyard Ltd, building on Keppel's delivery of the FLNG Hilli Episeyo, utilizing Black and Veatch Corporation's…

LNG Carrier Seri Camar Delivered to MISC

MISC's Fifth MOSS-Type LNG Carrier, the Seri Cemara Photo MISC

Malaysian shipping firm MISC Group has taken delivery of Seri Cemara, the final vessel in a series of five MOSS-Type liquefied natural gas (LNG) carriers built for long-term charter to Petronas.The 150,200 CBM LNG carrier has been built for MISC by South Korean shipbuilder Hyundai Heavy Industries Co., Ltd. (HHI). Upon its delivery, Seri Cemara joins her sister MOSS-Type carriers Seri Camellia, Seri Cenderawasih, Seri Cempaka and Seri Camar on long-term charter to Petronas.The…

Jumbo Completes Work on Bangladesh FLNG Terminal

Photo: Jumbo Maritime

In 2017 Jumbo was awarded a contract by Geocean for the Moheshkhali Project, which is seeing a floating liquefied natural gas (LNG) import terminal developed off the shores of Moheshkhali Island in the Bay of Bengal, Bangladesh. It will be the country's first LNG import terminal and is expected to help secure the future provision of energy for Bangladesh.The Moheshkhali floating LNG import terminal will also include a floating storage and regasification unit (FSRU), a subsea buoy system and a subsea pipeline…

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

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