Gas Power News

Deutsche Bank has set emissions reduction targets for loans to clients in the coal mining, cement and shipping sectors and now has a net-zero plan for 55% of its financed emissions, its chief sustainability officer told Reuters.A key funder to polluting sectors, Germany's biggest lender, like many of its peers, is under increasing pressure from policymakers and investors to push clients to curb climate-damaging emissions.Its corporate loan book stood at 107 billion euros ($112.72 billion) at the end of 2022."Once we have pathways…

Shell PLC's LNG Canada export project in British Columbia plans to start building its proposed second phase with natural gas-powered turbines and switch to electricity as more renewable power becomes available, a top executive said, a decision that means the expansion project will initially generate high greenhouse gas emissions.LNG Canada, in which Japan's Mitsubishi Corp owns a 15% stake, is set to be Canada's first liquefied natural gas (LNG) export terminal. The first phase…

Japan's Mitsui O.S.K. Lines (MOL) said Thursday it had signed a multi-year contract to charter a newbuild LNG Carrier with TotalEnergies Gas & Power Limited, a subsidiary of the French oil major TotalEnergies.According to MOL, the vessel currently being built by Daewoo Shipbuilding & Marine Engineering is fitted with the most modern ME-GA engine, which provides lower emissions compared to previous-generation vessels.ME-GA engine is equipped with an Exhaust Gas Recirculation (EGR) system that reduces methane slip while improving overall fuel consumption…

RWE, Germany's largest power producer, said Europe needed more investment in liquefied natural gas (LNG) terminals on land to secure shipped fuel supplies from global gas producers in the long term.But RWE Chief Executive Andree Stracke told the Gastech conference in Milan that he did not think Europe would abandon Russian gas forever because of the cost to industries and households.Europe is facing its worst gas supply crisis ever, with energy prices soaring and German importers…

Mitsui O.S.K. Lines (MOL) on Tuesday announced it has ordered four new liquefied natural gas (LNG) carriers from South Korea's Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) for delivery in 2024.The Japanese shipping company said it has signed time charter contracts for the four newbuilds with NOVATEK Gas & Power Asia Pte. Ltd., a wholly owned subsidiary of Russia's PAO NOVATEK.The 174,000-cubic-meter capacity newbuilds will be equipped with the "cutting-edge" MAN Energy Solutions engines, which offer improved fuel efficiency, MOL said.

The market for marine services in support of the installation and maintenance of undersea telecommunications cables has matured over a period of more than 100 years to reach its present state of development. The largest providers of marine services (companies such as the Global Marine Group, SubCom, Alcatel Submarine Networks and Orange Marine) take different approaches to operations, but provide a mature and assured set of services that play a critical role in the industry. Marine services support the suppliers of undersea cable systems (delivering 50…

Energy trader Gunvor Group aims to cut its Scope 1 and 2 emissions by 40% in absolute terms by 2025, the company said on Tuesday, and has set up a new subsidiary to invest in non-hydrocarbon projects.The Geneva-based firm, which is among the top five global oil traders, aims to cut emissions it produces directly, and those from the electricity it uses, against its 2019 total of 1.9 million tonnes of carbon dioxide equivalent.Its new unit will invest in biofuel, renewable power projects such as solar and biomass…

As owners and operators work to achieve dramatic new emission reductions, vessels’ cooling solutions should not be overlooked.A  wave of green initiatives is sweeping through the maritime market as owners and operators seek ways to reduce emissions from their vessels. One company supporting this drive is R.W. Fernstrum, a global leader in engineering and manufacturing keel cooling technologies.Sean Fernstrum, the company’s president, sees a mix of power and propulsion solutions—each with its own list of pros and cons—combining to help reduce the industry’s environmental footprint. And R.W.

JERA, Japan's biggest electricity generator and the world's largest buyer of liquefied natural gas (LNG), is operating gas- power plants at lower rates as it runs down inventories amid rising heating demand as temperatures drop.The company joins other Japanese power generators reducing run rates on their gas plants as they compete with LNG buyers across northern Asia scrambling to secure supplies, sending prices higher.Tight fuel supplies are also highlighting vulnerabilities in Japan's electricity grid that make it harder to swap power supplies between areas a decade after the Fukushima nucle

Marine technology provider Høglund Marine Solutions announced it has taken a two-thirds stake in Vindskip AS, a company developing a wind- and liquefied natural gas (LNG)-powered vessel concept.Vindskip (which translates to ‘wind ship’ in English) is a vessel design project for a car/truck carrier that combines wind and gas power to achieve the lowest possible emissions in its market segment.With a majority share in Vindskip AS, Høglund will bring the company’s experience and expertise from providing LNG and automation solutions to the Vindskip project.

Russian gas company Novatek has said it has shipped its first LNG Cargo to the United Arab Emirates.Novatek said Friday that the cargo was shipped from the Yamal LNG project by its subsidiary NOVATEK Gas & Power Asia under a spot contract."The LNG cargo was transshipped in Europe onto the conventional LNG tanker “Yamal Spirit” and delivered to the Jebel Ali LNG Terminal in accordance with the contract’s delivery schedule," Novatek said.“With our first shipment to the United Arab Emirates, we are expanding the geography of our LNG supplies,” noted Lev Feodosyev, NOVATEK’s First Deputy Chairman of the Management Board.

Global Offshore, a provider of cable installation, repair and trenching services to the offshore renewables, utilities and oil and gas markets and part of the Global Marine Group, is adding offshore installation and construction vessel Normand Clipper to its fleet. The vessel, on long-term charter from Solstad Offshore, will be operational within the first quarter of this year.The charter gives Global Offshore options for up to eight years.The Normand Clipper is currently being fitted with a 4…

Ocean LNG has dominated in terms of long-term liquefied natural gas (LNG) import volumes for contracts signed by key purchasing companies for the year 2019, with almost 47% of the global contracted capacity.According to a report by GlobalData, Ocean LNG signed the biggest long-term LNG contract for 2019 with Golden Pass Products. According to the contract, Golden Pass Products will supply Ocean LNG with 15.6 million tonnes per annum (mtpa) of LNG for a period of 20 years, from 2024 to 2044.The gas will be supplied from the Golden Pass II LNG liquefaction terminal in Texas, US, it said.Sunrita Dutta, Oil and Gas Analyst at GlobalData, explains: “Ocean LNG is a joint venture (JV) between Qatar Petroleum, which owns a 70% stake, and Exxon Mobil Corporation, with 30%.

The UK-based maritime classification society Lloyd’s Register (LR) has granted approval in principle (AiP) to a quartet for an LNG-fueled VLCC design that uses a prismatic GTT Mark III membrane LNG tank.The AiP was granted to China Merchants Energy Shipping (CMES), CNOOC Gas and Power Group, Dalian Shipbuilding Industry (DSIC), and Gaztransport and Technigaz(GTT).The main objectives of the AiP include developing a specification for a dual fuel VLCC that meets the IMO’s GHG 2030 emission limitations and preparing the relevant design drawings.CMES and CNOOC G&P, with assistance from LR and GTT, also performed an economic analysis in terms of capital expenditure (CAPEX) and operating expenditure (OPEX).

US signed highest volume of global long-term liquefied natural gas (LNG)  export contracts in 2019, accounting for around a 67% of global share. Abundant shale gas production in the US has enabled the country to export natural gas as LNG. to global markets. According to GlobalData, the US has signed five long-term contracts in 2019 for the export of 22.3 million tonnes per annum (mtpa) of LNG. Of these, the contract signed between Golden Pass Products and Ocean LNG Limited had the highest export volumes with 15.6mtpa.LNG will be supplied from the Golden Pass II LNG liquefaction terminal in Texas for 20 years from 2024 to 2044.Sunrita Dutta…

German utility RWE has delivered its first liquefied natural gas (LNG) cargo to Great Britain.The cargo, comprised of approximately 150 000 m3 of LNG, was regasified through a Milford Haven LNG Terminal, located close to RWE’s 2000 MW Pembroke B gas-fired combined cycle gas power plant (CCGT).The cargo has been sourced from the portfolio of RWE Supply & Trading, the subsidiary of RWE which is responsible for gas and LNG trading.The cargo was loaded from Sabine Pass Liquefaction Terminal in the Gulf of Mexico, USA and transported by RWE Supply & Trading to Great Britain on the Gaslog Savannah LNG carrier.Once regasified, the LNG will meet a significant proportion of any gas consumption needs of Pembroke Power Station. On a typical day Pembroke burns 8,000,000 m3 of natural gas.

A new study revealed that coal power is being replaced by cleaner energy sources in the US – primarily due to an abundance of cheap natural gas.According to Rystad Energy, new renewable energy capacity from solar and wind is on the rise in the US, and April 2019 marked the first month when more electricity was generated in the country from renewable sources than from coal.However, the growing renewable energy sector alone is not wholly responsible for the on-going retirement of coal-fired power plants and the essential moratorium on the construction of new coal plants.“The US thermal coal industry is in severe trouble. However, coal’s demise as the fuel of choice for power generators is primarily due to the upsurge of cheap natural gas and not renewable sources of power…

Japanese shipping gaint Nippon Yusen Kabushiki Kaisha (NYK) has signed a new long-term contract with Total Gas & Power Chartering Limited (TGPCL), a subsidiary of Total, a leading oil and energy company headquartered in France.The contract calls for TGPCL to charter from NYK a newly built liquefied natural gas (LNG) carrier that will be built by Samsung Heavy Industries Co. Ltd. in Korea and scheduled for delivery in 2021.The LNG carrier will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e., X-DF diesel engine) that has superior fuel-consumption efficiency and can operate on marine gas oil or boil-off gas stored in the cargo tank.The carrier will also feature a re-liquefaction system that can use surplus boil-off gas effectively.The cargo tank will be a 174…

China is at the forefront of the large LNG sector growth and is emerging as the largest source of new LNG demand growth and second largest importer of LNG, VesselsValue revealed.China’s natural gas consumption has surged amid a gasification program and plan that is shifting millions of households and a large number of factories to natural gas from coal, said the report.Greece and Japan dominate in terms of USD value. Greece has recently overtaken Japan as the top owning country, ordering a large number of vessels since 2018.However, we have seen China emerge in the LNG market owning a total of USD 5.9 billion of Large LNG assets, which…

State-owned Qatar Petroleum and the Netherlands-based oil and gas company Shell signed a shareholder agreement to establish a joint venture for global LNG bunkering services.The agreement signed by Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments B.V. paves the way for the establishment of a joint venture company owned equally by both parties, subject to customary regulatory approvals.The new company’s principal business activities will include the procurement of LNG, setting up LNG bunkering infrastructure (storage and bunker vessels) at various strategic locations around the world, and facilitating the sale of LNG as a marine fuel to end customers around the world.Saad Sherida Al-Kaabi…

Europe’s energy landscape will be completely changed once the Dutch shut down the largest gas field on the continent years ahead of schedule, according to Rystad Energy.The Netherland recently announced that production at Groningen – Europe’s largest gas field – will be halted in 2022, eight years earlier than initially planned. However, despite the ambitious target of decommissioning the field by 2022, Rystad Energy expects that there could be some residual production from Groningen up to 2030 as it is technically challenging to completely shut down production in such a short timeframe.The drastic drop in output from Groningen will redefine the European energy landscape.

Japanese manufacturer of transportation equipment and machinery announced that it has obtained Approval in Principle (AiP) for its liquefied natural gas (LNG) floating power plant equipped with its own gas turbine (combined cycle power plant (CCPP) model).This approval was obtained from world-leading ship classification organization DNV GL based on its latest “Gas Power Plant” rules, which were introduced in 2018.An LNG floating power plant is an integrated system in which LNG fuel tanks, LNG regasification unit, power generation equipment and switchyard are all outfitted on the hull. It is towed on the sea or river and then moored at the installation site…

General Electric Co on Monday named finance head at shipper AP Moller-Maersk as its new chief financial officer in the latest top-level change aimed at turning around the U.S. industrial conglomerate.Carolina Dybeck Happe will start in early 2020 and replaces Jamie Miller, whose departure was announced earlier this year as new Chief Executive Officer Larry Culp seeks to simplify operations and generate cash after booking billions of dollars in losses.The company has been struggling with the fallout of a series of poor long-term financial bets…