UUV Market to Reach $7.64bln
The global unmanned underwater vehicles (UUV) market was around USD 2.92 billion in 2018 and is expected to reach approximately USD 7.64 billion by 2025, at a CAGR of slightly above 14.91% between 2018 and 2025.The global unmanned underwater vehicles market is growing, owing to its rising applications in the defense and military sector, scientific research applications, and commercial purposes, said a report from Zion Market Research.Unmanned underwater vehicles (UUV), also referred to as underwater drones…
Mayer Brown Advises on HK FSRU Project
Law firm Mayer Brown advised CLP Power Hong Kong on the Hong Kong offshore LNG terminal project, which involves the use of floating storage and regasification unit (FSRU) technology for the first time in Hong Kong. The FSRU will receive, store, and regasify LNG into two separate subsea gas pipelines to supply natural gas to Castle Peak Power Company Limited and Hongkong Electric Co., Ltd., generating power for Hong Kong residents.Mayer Brown advised CLP Power Hong Kong Limited…
Enterprise Products to Build GoM Crude Terminal
Enterprise Products Partners LP said on Wednesday it expects to take about two years to construct its oil export project called Sea Port Oil Terminal, or SPOT, in the U.S. Gulf of Mexico.Permitting for the terminal was expected to reach the final stages by the end of the first quarter of 2020 and final approval was expected during the second quarter, a company executive said on its second quarter earnings call.Enterprise Products signed long-term agreements with Chevron Corp to support the development of SPOT…
MOL Signs FSRU Charter Deal
Japanese shipping transport company Mitsui O.S.K. Lines (MOL) has signed a charter deal with Hong Kong LNG Terminal Limited for a floating storage and regasification unit (FSRU).The FSRU would be used for the Hong Kong Offshore LNG Terminal Project (HKOLNG Project), which is a joint venture established by Castle Peak Power Company Limited (CAPCO) and The Hongkong Electric Co., Ltd. (HK Electric).The FSRU vessel will be used for receiving, storing, and regasifying LNG for the…
Saudi Aramco to Buy LNG from US
Saudi Arabia’s state owned oil company Saudi Aramco will buy 5 million tons of liquid natural gas per year(LNG) from the U.S. company Sempra Energy, based in San Diego under a 20 year agreement.The heads of agreement (HOA) between the companies anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for five million tonnes per annum (Mtpa) of LNG offtake from Phase 1 of the Port Arthur LNG export-project under development.
Natural Gas Consumption Up 10% in China
According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection policies to further prevent and control atmospheric pollution and replace coal with natural gas in key areas…
Qatargas Delivered 500 Cargoes LNG to China in Ten Years
Qatargas Operating Company Limited (Qatargas) has recently highlighted its long-term relationship with China."Qatargas has reliably supplied Liquefied Natural Gas (LNG) to China for 10 years, having safely delivered more than 500 cargoes of LNG to date," Qatargas said.Qatargas established its Beijing Representative Office (BRO) in China in November 2009 to facilitate easy access to both existing and potential LNG buyers in the country.The BRO team, also celebrating a decade of Beijing office setup…
Reabold Signs Rig Contract for West Newton Well
UK-based Reabold Resources said Rathlin Energy UK Ltd has signed a rig contract for the onshore UK West Newton appraisal well.The appraisal well at West Newton will have two objectives. The first objective is to appraise the Kirkham Abbey Formation gas discovery which has a 72 per cent. chance of success and an NPV of $185m.The second objective of the well is to test a deeper Cadeby Formation reef flank oil prospect, considered by Rathlin to have an NPV of $850m and a 24 per cent.
Gazprom to Start Gas Supply to China
Russian gas giant Gazprom will start supplying Russian natural gas to China via the Power of Siberia pipeline almost one month early than previously planned.Alexey Miller, Chairman of Gazprom Management Committee, said after the negotiations with representatives of Chinese partner CNPC in Beijing, “Construction of the Power of Siberia gas pipeline is going ahead of schedule, and Gazprom will start delivering gas to China well in advance, as early as December 1, 2019.”Alexey Miller and Wang Yilin…
Bahrain's First LNG Terminal Ready for Business
Bahrain expected to start LNG imports early this year; FSU on 20-year time charter to Bahrain LNG arrives in the GulfBahrain's first liquefied natural gas (LNG) floating unit arrived in the Gulf this week as the country gets ready for its maiden imports of the super-chilled fuel this year, data from Refinitiv Eikon showed.Bahrain Spirit, a floating storage unit (FSU) with a capacity of about 173,000 cubic meters, is currently anchored in Fujairah after docking in the United Arab Emirates region on Jan. 13, the data showed.The FSU is on a 20-year charter to Bahrain LNG, who is the developer of a wider receiving and regasification terminal within the Khalifa bin Salman Port facility…
Gazprom 95% Completes TurkStream Gas Pipeline's Offshore Section
Russian oil and gas giant Gazprom is progressing a number of gas pipeline stretching across the Black Sea projects with three major projects already 95.5 percent complete, the company claimed.The TurkStream will soon see the completion of its offshore section, bringing closer a consistent the supply of Russian gas to Turkey and its neighbours."The Company continues to pursue the extensive Eastern Gas Program and to build facilities associated with supplying gas to domestic consumers and to China.
FSU Delivered to Bahrain LNG
Teekay LNG’s first Floating Storage Unit (FSU) has been successfully delivered to charterer Bahrain LNG. The vessel delivered from the yard at the end of August, before going on hire on 19 September, 2018. The vessel will be used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain. The project is 30% owned by Teekay LNG Partners (TGP) and is expected to commence commercial operation in early 2019.The vessel will be used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain.
Stolt-Nielsen LNG, Golar LNG and Höegh LNG in Joint $182 Million Investment
Stolt-Nielsen Limited (Oslo Børs: SNI), Golar LNG Ltd and Höegh LNG Holdings Ltd. announced a combined investment commitment of $182 million in Avenir LNG Ltd. to pursue opportunities to deliver LNG to areas of stranded demand, as well as the development of LNG bunkering capabilities.The investment will be contributed as cash and equity-in-kind and will fund the construction of six small-scale LNG carriers, a small-scale storage terminal and regasification facilities.Avenir LNG was formed by Stolt-Nielsen in 2017 to provide LNG to markets lacking access to natural gas pipelines.
Azerbaijani Vessels Completes Filanovsky Mission
The vessels of Azerbaijan Caspian Shipping Company (ACSC) have successfully completed their mission at the “Filanovski” oilfield in the Russian sector of the Caspian Sea.A press statement from ACSC said that the towing vessel “Yarnega”, owned by Azerbaijan Caspian Shipping Company and lift vessel “Gurban Abbasov” expolited by Shipping Company in alliance with Caspian Marine Services (CMS) successfully completed their missions in “Filanovski” oil field in the Russian sector of the Caspian Sea…
Azerbaijan Caspian Shipping Carry Out Dredging in Russian Sector of Caspian Sea
The vessels owned by the Caspian Sea Oil Fleet of the CJSC "Azerbaijan Caspian Shipping Company" carry out dredging operation at the Filanovsky field on the basis of a contract with Voltar Marine. A dredging vessel ("Engineer Balarza Mammadov"), three soil transportation ships (“Bakinskaya 3”, “Bakinskaya 5”, “Bakinskaya 6”) and supply-towing vessel “Yarenga” were involved in the implementation of the dredging project. A total of 27050 cubic meters of dredging works were carried out. Thus, the first stage of the project, which started on June 26, 2013, was completed.
Ghana to Award New Oil Blocks off West Coast
Ghana is set to award nine new upstream oil blocks for commercial exploration off its western coast beginning this year, the energy ministry said on Thursday.The West African country plans to award six of the nine blocks this year while the remaining three will be given out next year through a mix of open competitive tender and direct negotiations, the ministry said in a statement.It said state oil company Ghana National Petroleum Corporation will acquire one of the blocks to explore in partnership with a strategic partner to develop its technical capacity and become an operator.Ghana, which b
China Considering New Tariffs on 128 US Products
China's commerce ministry said on Friday that it may impose additional tariffs on up to $3 billion of U.S. imports in response to U.S. tariffs on Chinese steel and aluminum products. The ministry said it was considering implementing measures in two stages: first, a 15 percent tariff on 120 products including steel pipes, dried fruit and wine, and later, a 25 percent tariff on pork and recycled aluminum. Below is a list of 128 U.S. 83 22043000 Grape juice other than that of heading item No.
US Coal Firms Plead for West Coast Export Terminals
The ailing U.S. coal industry is ramping up its political and legal offensive to win approval for West Coast export terminals that could provide a lifeline to lucrative Asia markets. Coal producers filed two recent lawsuits against governments in Washington state and California challenging local decisions to block port projects on environmental grounds. The industry is also lobbying the Trump administration to override the local bans. The fight reflects the sector’s desperation to boost exports as U.S.
Port Corpus Christi to benefit from LNG partnership with China
Port Corpus Christi officials are confident that the agreement signed between Cheniere Energy of Houston and China National Petroleum Corporation (CNPC) will bring increased traffic to the port, according to the San Antonio Business Journal. Officials from Cheniere accompanies President Trump on his tour to China and signed a Memorandum of Understanding with the Chinese company. CNPC is the largest gas and oil supplier and producer in China and is also one of the largest providers of oilfied services.
CNPC, Cheniere Pact for LNG
China’s state-owned oil company, China National Petroleum Corporation (CNPC), and U.S. independent energy company Cheniere Energy have signed a Memorandum of Understanding (MoU) for long-term sales and purchases of liquefied natural gas (LNG), Reuters reported. The report quoted U.S. State Department saying that the deal between the two companies was signed during president Trump’s first state visit to China. Neither companies disclosed details of the transaction. According to CNPC…
Boskalis, Van Oord JV Awarded Nord Stream 2 Rock Placement LOI
A joint venture between Royal Boskalis Westminster N.V. and Van Oord has been awarded a LoI (Letter of Intent) for rock placement services for the Nord Stream 2 project. The award was made by the project developer Nord Stream 2 AG and is a part of the construction of the planned twin 1,200 kilometer gas pipelines running through the Baltic Sea, connecting Russia to Europe. The contract value is approximately EUR 250 million ($285 million), with a 50 percent share for Boskalis. Contract details are expected to be finalized in the next few weeks.
Trump to Promote US Natgas Exports in Russia's Backyard
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months. Exports from the United States would help reduce their dependence on Russia. Trump will tell the group that Washington wants to help allies by making it as easy as possible for U.S.
Singapore’s shipyards are looking to recent investments in capacity, design and newly acquired technology to combat order declines after a decades-long offshore buildup. Sembcorp and peer Keppel are making the most of partnerships in FLNG and showing signs they’ll be okay through the downturn, helped by their gas-hungry Australasian backyard and renewed ties with old charterer parties and suppliers. With drilling contractors unable to pay for the offshore rigs they’ve ordered, Singapore’s heavyweight yards have had to defer deliveries and become defacto rig owners.