Galway Group News

India's biggest importer of U.S. liquefied natural gas (LNG) is trying to re-negotiate prices with the U.S. seller, sources said, undermining plans by U.S. President Donald Trump to export more gas to the fast-growing Asian nation. At a joint news conference with Indian Prime Minister Narendra Modi at the White House this week, Trump said the United States looked forward to exporting more energy, including new major long-term contracts to purchase American natural gas. The effort is part of Trump's policy of seeking to assert power abroad through a boost in natural gas, coal and petroleum exports. He said on Thursday that the "golden era" of the U.S. energy business was now underway.

ECM Training Services, LLC, in conjunction with Galway Group, will hold an interactive training seminar entitled "Pursuing ECA Compliance: Is LNG as a Marine Fuel Viable?" September 22-23, 2015, at Minute Maid Park in Houston. Leading the discussions will be a distinguished group of industry experts who are influence the way LNG is used globally in a marine environment. "ECM Training Services is proud to have this exceptional panel present this very important discussion on LNG use as a marine fuel," stated Mike Minogue, President and CEO of both ECM Maritime Services and ECM Training Services.

Spurred by the International Maritime Organization (IMO) emissions standards effective from January 2015, liquefied natural gas (LNG) as a marine fuel is one of the most important developments impacting shipping. Yet there are many issues and unanswered questions being debated. As such, ECM Training, in association with Galway Group, customized a seminar that focuses on what is needed to form views and enlighten decisions on "LNG for Marine Fuel". With the availability of gas in North America and with tighter emission standards planned, the use of natural gas, and its liquid form, LNG, is a viable alternative fuel to be considered in all ship construction plans.

According to Andrew Buckland, a London-based analyst at Wood Mackenzie Ltd rates to transport liquefied natural gas have declined to about $50,000 per day and will probably go lower before recovering. In 2012 it was more than $140,000 a day. That’s good news for buyers and sellers of the fuel. Lower rates can benefit traders that sign short-term contracts and give LNG players flexibility in where they deliver the gas, said Hal Miller, president of consulting company Galway Group in Houston. At the same time, ship owners will be hurt by falling rates. There has been reports that over a dozen liquefied natural gas (LNG) tankers are parked…