Gas Market News

14 Apr 2019

Keppel Makes First LNG Cargo Import from N. America

Pic: Keppel Corporation

Singapore's Keppel Gas, a wholly owned subsidiary of Keppel Infrastructure Holdings, has completed its first liquefied natural gas (LNG) cargo import under Singapore's spot import policy.The policy allows gas customers in the Republic to import up to 10 per cent of their annual long-term contracted LNG intake on a spot cargo basis.The spot cargo of 160,000m3 of LNG originated from an LNG liquefaction project in North America, marking the first time that Keppel Gas has diversified…

29 Mar 2019

Maersk Aborts Sale of Maersk Supply Service

Pic: Maersk Line

The world's largest container shipping company A.P. Møller – Mærsk A/S announced that its Board of Directors has decided to retain full ownership of Maersk Supply Service.The offshore support vessel industry, which Maersk Supply Service operates within, has over the last three years exhibited clear signs of distress, reducing company market capitalisations and lower asset values, negatively impacting the ability to find a sustainable ownership structure for Maersk Supply Service outside of A.P.

06 Mar 2019

Oman: Gas Production to Surpass Oil by 2023

Graph: Rystad Energy

Oman’s gas production levels are set to surpass oil by 2023 thanks to an impressive surge in the development of gas fields in the sultanate, according to Rystad Energy, the independent energy research and consulting firm headquartered in Norway.“Gas is on the rise in the Arab country on the southeastern coast of the Arabian Peninsula in Western Asia, and this transition is very timely. Oil output declines over the last two years may indicate a point of no return for Omani oil…

28 Feb 2019

LNG Rates Hit Record in 4Q: Flex LNG

Pic: Flex LNG

During the fourth quarter ended December 31, 2018, spot LNG rates reached record levels as market players were positioning themselves ahead of the winter season, said Flex LNG.According to the UK-based provider of LNG Shipping with a focus on LNG Carriers and FSRUs (Floating Storage Regasification Units), due to a combination of higher temperatures meaning fewer heating days, liquidation of approximately 30 vessels utilized for floating storage the freight rates for LNG has slumped…

27 Feb 2019

DEME DP2 Jack-up Vessel Named ‘Apollo’

The Belgian dredging and hydraulic engineering group DEME NV said that its newest, self-propelled DP2 jack-up vessel ‘Apollo’ was officially named in the port of Zeebrugge, Belgium on February 21.The ceremony was performed by Olympic, World and European Champion heptathlon Nafi Thiam, according to a press release.One of the exceptional features of the ‘Apollo’ are its extremely long lattice legs of 106.8 m, which allow the vessel to jack-up in water depths up to 65 m. The vessel is equipped with an 800-tonne…

08 Feb 2019

U.S. Coast Guard Looks beyond Mooring Lines

Strength, Safety and Sustainability are at the heart of this Homeland Security stakeholder’s mission set.For over 30 years, high performance fiber rope manufacturer Phillystran has worked with the U.S. Coast Guard to supply mooring and towing lines. As innovations in fiber rope technology have enabled lighter and stronger ropes, the Coast Guard has not been slow to take advantage of these and other developments.In step with most maritime stakeholders, NAVSEA approved fiber ropes are widely used by the U.S. Coast Guard.

31 Jan 2019

Kirby Announces 2018 Q4/FY18 Results, Deal to Buy Cenac's Marine Fleet

Kirby Corporation announced a net loss attributable to Kirby for the fourth quarter ended December 31, 2018 of ($24.4) million, or ($0.41) per share, compared with earnings of $231.3 million, or $3.87 per share, for the 2017 fourth quarter. Excluding certain one-time charges, 2018 fourth quarter net earnings attributable to Kirby were $44.9 million, or $0.75 per share. Consolidated revenues for the 2018 fourth quarter were $721.5 million compared with $708.1 million reported for the 2017 fourth quarter.For the 2018 full year…

23 Jan 2019

Gazprom, Mitsui Discuss LNG Cooperation

Japanese trading house and liquefied natural gas market participant Mitsui has held talks with Russia’s giant Gazprom on cooperation in liquefied natural gas (LNG) projects.A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Masami Iijima, Chairman of the Board of Directors of Mitsui & Co., Ltd., took place in Moscow.They discussed about the progress made in two Russian plans to expand LNG output, on the existing Sakhalin Island plant in…

24 Jan 2019

WSM to Manage FSRU for Pardus Energy

Pardus Energy's FSRU Turquoise will be fully managed by WSM. Image: Wilhelmsen Ship Management

Wilhelmsen Ship Management (WSM) has entered into a management agreement with Ireland-based Pardus Energy for their new building Floating Storage and Regasification Unit (FSRU).WSM, one of the world’s largest third-party ship manager with a portfolio of more than 450 vessels and 9200 active seafarers, will be providing ship management services for the new FSRU named “Turquoise”.The FSRU is a 170,000 CBM gas processing vessel, built at Hyundai Heavy Industry, South Korea. The FSRU…

02 Jan 2019

Novatek, Saibu Gas Ink MoU

Image: Novatek

Russia's largest independent natural gas producer Novatek said it had agreed with Japan's Saibu Gas to study the possibility for the Russian company to enter the Japanese energy market.Novatek said in a press release that PAO Novatek and Saibu Gas Co Ltd signed a  Memorandum of Understanding (MOU), whereby the parties agreed to consider potential cooperation to enter the end-customer market and optimize Novatek’s LNG portfolio supplies to the Asia-Pacific region by utilizing Hibiki…

16 Dec 2018

Gasum Consolidates Nordic LNG Market

Johanna Lamminen, Chief Executive Officer. Photo: Gasum

The Liquefied Natural Gas (LNG) company Skangas is renamed Gasum (See MarineLink report ). The Scandinavian distributor and producer of small-scale LNG claimed that the name change will strengthen the Gasum brand in the Nordic countries and the position of Gasum as the leading provider of LNG in the region. Gasum operates under one strong brand in the Nordic countries.The energy company Gasum increased its shareholding in Skangas from 70% to 100% in October 2018. The acquisition is part of the Gasum strategy…

26 Nov 2018

Skangas Becomes Gasum

Image: Skangas

Skangas, the leading Scandinavian distributor and producer of small-scale LNG, said it is changing its name to that of its owner, Gasum.The Finland-based integrated gas company Gasum increased its shareholding in the Liquefied Natural Gas (LNG) company Skangas from 70% to 100% in October 2018. The acquisition is part of the Gasum strategy, a core element of which is to develop the Nordic gas market and the LNG infrastructure.The name change will strengthen the Gasum brand in the Nordic countries and the position of Gasum as the leading provider of liquefied natural gas (LNG) in the region.

13 Nov 2018

Novatek Ships First LNG Cargo To China Via Arctic

Image: Novatek

Novatek Gas and Power Asia, wholly owned subsidiary of Russia’s largest independent natural gas producer Novatek, shipped a cargo of liquefied natural gas (LNG) produced from the Yamal LNG project to China National Offshore Oil Corporation (CNOOC).The LNG cargo was delivered to Fujian LNG Terminal in China via the Northern Sea Route (NSR) by an Arc7 ice-class LNG carrier in 20 days, completing the NSR part of the journey in 7.5 days.A release from the natural gas producers quoted Leonid Mikhelson…

04 Nov 2018

Australia’s Oil and Gas Industry Calls for Competitive Tax Regime

Image: APPEA

Changes to the petroleum resource rent tax (PRRT) announced today by the Commonwealth must be assessed carefully by Australia’s oil and gas industry, said the Australian Petroleum Production & Exploration Association (APPEA).“Attracting investment in natural gas and oil production has never been more important for Australia,” said APPEA Chief Executive Dr Malcolm Roberts.“As Australia relies on foreign investment to develop our natural resources, it is vital that we have a stable, competitive tax regime.“Investors are always concerned when long-standing tax arrangements change.

02 Nov 2018

EU Approves State Aid for Lithuania’s Klaipėda LNG Terminal

Image: Klaipeda State Seaport Authority

The European Commission said that the EC has approved under EU State aid rules the compensation granted by Lithuania to LITGAS for supplying a mandatory quantity of liquefied natural gas (LNG) to the LNG terminal in Klaipėda.In November 2013, the Commission approved under EU State aid rules an aid scheme to support the construction and operation of a liquefied natural gas (LNG) terminal at the Klaipėda seaportin Lithuania The LNG terminal has, since its construction, played a vital role in the diversification of gas supplies and security of supply in Lithuania.In June 2018…

31 Oct 2018

Yarudeyskoye Field Produced 10 MT of Crude Oil

Image: PAO Novatek

PAO Novatek announced that cumulative production at the Yarudeyskoye field owned by the Company’s subsidiary Yargeo, reached a milestone of 10 million tons of crude oil production since the commencement of operations.The field’s commercial production commenced in December 2015, and by January 2016, the field reached its full productive capacity, said a press release from the Russia's largest independent natural gas producer.The Yarudeyskoye field is the largest crude oil asset in the Company’s portfolio…

26 Oct 2018

Fugro Q3 Revenue Jumps

(Photo: Fugro)

Dutch deep-sea prospector Fugro has reported a 29.1 percent rise in third-quarter revenue on a comparable basis, driven by the expansion of offshore wind developments and a recovery in the global oil and gas market.Rising oil prices have helped Fugro by making it more economic to prospect for the hard-to-reach subsea deposits in which it specializes."In our early cyclical marine site characterisation activities we are experiencing sharp growth and improving prices, resulting in strongly improved profitability…

24 Oct 2018

IEA Calls for Enhancing Global Natural Gas Security

Image: IEA

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…

22 Oct 2018

ABS Awards AIP to HHI’s Deepwater FLNG Hull

Newbuilding Conversion FLNG design to deliver significant cost savings. Image: ABS

ABS granted Approval in Principle (AIP) to Hyundai Heavy Industries’ (HHI) Deepwater Floating Liquefied Natural Gas (FLNG) hull design.HHI advises the Newbuilding Conversion FLNG hull design for offshore application can be constructed for about 80 percent less than the cost of a conventional FLNG hull. It is based on LNG carrier designs combined with the requirements for FLNG production, such as structural reinforcements to take topside module load and a hull designed to allow…

18 Oct 2018

PGNiG, Venture Global LNG Deal for 2 MTPA of LNG

Image: PGNiG

For a 20-year term, Polish Oil and Gas Company (PGNiG) will receive liquefied natural gas from the USA for domestic customers or for resale.The new contracts will provide a total of 2 MTPA of LNG, which is approximately 2.7 billion m³ of natural gas after regasification, and this equals – depending on the vessel capacity – over 25 cargoes a year.Under the agreements, PGNiG will purchase LNG on a free on board (FOB) basis starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility…

16 Oct 2018

Höegh Gallant Time Charter Amended

Pic: Höegh LNG

International floating liquefied natural gas (LNG) company Höegh LNG said it has decided to amend the Höegh Gallant FSRU time charter with Egypt Natural Gas Holdings Company (EGAS)."We have agreed to amend the Höegh Gallant time charter. Under the amended contract, the Höegh Gallant will be chartered as an LNG carrier to a third party, and Egas will compensate for the rate difference between the original FSRU contract and the new LNG carrier time charter," said a press statement…

11 Oct 2018

Gasum Acquires Skangas

Pic: Gasum Oy

Energy company Gasum has increased its shareholding in Norwegian liquefied natural gas (LNG) provider Skangas to 100%. The acquisition strengthens a key element of Gasum's strategy and will further enhance the development of the Nordic gas market and LNG distribution network.According to a press release from  the Nordic energy company the increase in shareholding consolidates Gasum's position as the leading Nordic LNG provider and the gas market forerunner.Nordic energy company…

03 Oct 2018

Novatek, Siemens Sign LNG Partnership

Pic: Novatek

Russia's natural gas producer Novatek and German engineering giant Siemens have signed a strategic partnership agreement that covers cooperation in the liquefied natural gas (LNG) sector.Novatek said in a press release that the agreement was signed by Novatek Chief Executive Leonid Mikhelson and his Siemens counterpart Joe Kaeser in Moscow.According to the agreement, the parties intend to strengthen and develop the strategic partnership and cooperation in integrated gas-to-power projects on a “turn-key” basis inclusive of LNG supply…

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

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