Lerwick Port Spells out Strategy for Expansion
Lerwick Port Authority has detailed a series of objectives to meet its aim of running an efficient, cost-effective harbour, including continuing expansion of the infrastructure. The goals are featured in an interim Update produced ahead of publication of a new style annual report in Spring. Commenting on activity, Chairman Brian Anderson notes: “Lerwick reached peak level in 2013 and 2014, largely driven by oil & gas projects, both onshore and offshore. The Update also notes that…
Gas to Overtake Oil as Primary Energy Source by Mid-2030s
Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. Confidence in the case for gas is growing, according to a survey by DNV GL, the technical advisor to the industry. The vast majority (86%) of the 813 senior industry professionals surveyed agree that gas - the least carbon-intensive fossil fuel - will play an increasingly important role in the global energy mix over the next decade, up from 77% last year.
TechnipFMC Begins Operations Post-merger
TechnipFMC has begun operating as a unified oil and gas services company following completion of the merger of Houston-based FMC Technologies and paris-based Technip. Now with a combined 44,000 employees, the new TechnipFMC will work on oil and gas projects, technologies, systems and services “from concept to project delivery and beyond” with headquarters in Houston, London and Paris. A key focus for TechnipFMC will be project economics across subsea, onshore/offshore and surface, the company said in a press release.
DNV GL Raises the Standard for Thermoplastic Composite Pipes
DNV GL has launched a new standard that allows operators to choose thermoplastic composite pipes (TCP) instead of steel or traditional flexibles, enabling substantial cost reductions throughout the project lifecycle.After the successful and wide adaptation of the recommended practice (RP) DNVGL-RP-F119 by the industry for qualification of TCP for various applications from dynamic to static applications since its publication in 2015, the RP has now been converted to an official DNV GL standard DNVGL-ST-F119.
Beele Engineering Develops Fire Safe Plastic Transit System
Beele Engineering has developed a new range of HE plastic transit sleeves and frames to provide for the reliable and comfortable transit of cables and pipes and to provide for a fire-resistant, gas, smoke and watertight seal. The new transit sleeves and frames form part of the NOFIRNO system technology and can be used in various ways, including in sandwich panels.The HE plastic version enables Beele Engineering to offer solutions that are not only fire safe, but also light-weight.
IMA Completes 12-month Study of the Floating Liquefaction and Regasification Market
International Maritime Associates has just completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector.Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
LNG Report: Floating Liquefaction & Regasification
International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector. Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
Australian LNG Projects Face Delays, Benefiting US Producers
Australia's plans for a huge increase in its production of liquefied natural gas are being dealt a big blow by a series of production delays, as energy companies struggle with technical problems and cost overruns. The country is still likely to become the world's biggest LNG exporter, dispatching about 85 million tonnes a year by the end of the decade, up from 30.7 million tonnes in 2015 and 45.1 million tonnes last year. But the pace of growth is much slower than expected because…
SCF's New Icebreaker Named Gennadiy Nevelskoy
Built by Arctech Helsinki Shipyard, the Russian flagged Gennadiy Nevelskoy (deadweight 3,000 metric tons) will home port in Saint Petersburg and was commissioned by SCF under a long-term agreement with Sakhalin Energy. She is the first of four vessels for operations at the Sakhalin-2 project; the other three are ice-breaking standby vessels (IBSBVs) that have a smaller deadweight (2,000 metric tons), but offer enhanced functionality and a higher people-on-board capacity. The agreement between Sovcomflot and Sakhalin Energy…
Singapore Wants New Gas Projects
New research by DNV GL, the technical advisor to the oil and gas industry, has revealed that more oil and gas professionals in Singapore (46%) than globally (31%) are looking for new gas projects. Nearly nine out of ten respondents (87%) believe that gas will become an increasingly important component in the global energy mix in the next ten years – ten percentage points higher than the global average. Short-term agility, long-term resilience is DNV GL’s seventh annual benchmark study on the outlook for the oil and gas industry…
Malaysian Oil Sector Rebalances Portfolios
New research by DNV GL, the technical advisor to the oil and gas industry, has revealed that confidence in growth in the Malaysian oil and gas sector has tumbled since 2014, from 96% to 21%, with tough, short-term, cost-cutting efforts expected to increase in 2017. Diversification will be a hallmark of 2017, with 49% of those surveyed looking to increase investment in, or diversify into, areas beyond oil and gas. Thirty-seven per cent of senior oil and gas professionals in Malaysia are actively looking for new gas projects as a result of falling oil prices, compared to 31% globally.
Total in Talks to Buy Iranian LNG Project
Total is in talks to buy a multi-billion dollar stake in Iran's partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major -- the first of its peers to strike deals in Iran after sanctions -- seeks entry into Iran LNG at a discount to the pre-sanctions price in exchange for reviving the stalled project, two sources with knowledge of the matter said. A third source confirmed Total was in the running for a stake, alongside several other oil majors, but any deal was still some way off. Total declined to comment. Iran's National Gas Export Co. (NIGEC), a central stakeholder in the project, did not respond to requests for comment by email and phone.
Market Volatility Affects Sovcomflot
Sovcomflot is one of the world’s leaders in energy shipping as well as in servicing offshore upstream oil and gas projects. It has reported lower time charter equivalent revenue (TCE) of USD 1,142.2 million (2015: USD 1,240.1 million), EBITDA of USD 706.5 million (2015: USD 780.1 million) and net profit of USD 206.8 million (2015: USD 354.5 million). Sergey Frank, President and CEO of Sovcomflot said: “Sovcomflot has delivered a solid set of results for 2016, despite market volatility in a year that has severely tested our industry.
Oregon County Mulls LNG Terminal Ban
A coastal Oregon county will vote Tuesday on a ballot measure to block a proposed natural gas terminal, the latest in a series of efforts to thwart energy projects across the Pacific Northwest. The measure would ban transport of fossil fuels not intended for local use through Coos County, located about 200 miles (322 kms) south of Portland. Backers have called the initiative a response to a $7.6 billion proposal by Calgary-based Veresen Inc, to build a facility in the county where natural gas would be liquefied and transferred to tanker ships for sale abroad.
Oregon County Won't Block LNG Terminal
A coastal Oregon county overwhelmingly rejected a ballot measure aimed at blocking a proposed natural gas terminal dealing a blow to what was the latest in a series of efforts to thwart energy projects across the Pacific Northwest. The measure, had it passed, would have banned transport of fossil fuels not intended for local use through Coos County, located about 200 miles (322 kms) south of Portland. Around 76 percent of votes were cast against the measure, with 24 percent in favor, according to unofficial results posted on the Coos County government website late Tuesday.
Lloyd's Register: Maritime Grows in the Americas
As the global maritime market remains mired in a slump, Lloyd’s Register continues to expand rapidly in the Americas market where it sees green fields of opportunity. Mark Darley, President—Americas Marine for LR, recently sat with Maritime Reporter & Engineering News to explain the strategy to conduct business over a broader range of segments and services and grow LR’s presence in the Americas. Mark Darley, President—Americas Marine for Lloyd’s Register is an industry veteran with nearly two decades of maritime experience under his belt…
LNG Sellers, Asian Buyers Spar Over Contract Terms
A spat brewing between Qatar, the world's No.1 producer of liquefied natural gas (LNG), and its biggest customers in Japan underscores rising tensions between buyers and sellers of the super-chilled fuel as a supply glut unbalances the market. Importers of LNG having been pushing for greater benefits amid the surplus, signing new, cheaper contracts that give them more flexible terms, while exporters try to preserve long-term supply deals written in their favour during tighter markets.
Inside the World's First LNG Containership Conversion
The world’s first container feeder vessel refit to use natural gas was commissioned in late August in Bremerhaven, ushering in a new era in the use of alternative fuels across the global maritime sector. The container vessel Wes Amelie, owned by Wessels Reederei, Haren/Ems, was converted for the use of methane as a standard fuel at the German Dry Docks Shipyard in Bremerhaven, making it the world’s first of its kind vessel which consumes environmentally friendly methane. This conversion is more than simply another environmentally advanced ship…
Maersk Oil, Partners Approve USD 3.2bln Tyra Gas Project
Maersk Oil has announced that the Danish Underground Consortium (DUC) has approved an investment of approximately 21bn DKK in the full redevelopment of the Tyra gas field. The announcement follows the Danish Parliament’s approval to implement legislation to secure the investment. The redevelopment of Tyra ensures continued production from Denmark’s largest gas field, and will protect and rejuvenate important Danish North Sea infrastructure. Today’s announcement represents the largest oil and gas project investment ever made in the Danish North Sea…
CERCG Looking to Ship LNG from Australia's West to East
State-owned China Energy Reserve and Chemicals Group (CERCG) on Monday said it is investigating whether to ship liquefied natural gas (LNG) from Western Australia to the gas-hungry east coast market. The Chinese integrated energy firm, which runs oil and gas projects, processing plants and gas distribution, said in a press release to Reuters that subsidiary CERCG Australia is studying the viability of transporting LNG by road, rail and ship. CERCG Australia's business manager Kevin Gao said the company would use LNG container tanks which can maintain liquefaction for 110 days. "It should be possible for us to ship 100 or 200 of our 40-foot ISO containers, each containing 18 tonnes of LNG, from Australia's West Coast to customers on the East Coast," he said on Monday.
Exxon, Petrobras Form Alliance to Develop Oil, Gas Projects
Exxon Mobil Corp and Petróleo Brasileiro SA, Brazil's state-controlled oil producer also known as Petrobras, said on Thursday they had formed an alliance to develop energy projects around the world. The deal, which was signed in Rio de Janeiro, will have the companies study ways they can cooperate on exploration, production and chemical ventures inside and outside of Brazil. The deal comes two months after Exxon and Petrobras were jointly awarded six oil-rich blocks in Brazilian coastal waters. (Reporting by Ernest Scheyder; editing by Diane Craft)
Kvaerner Invests in New Quay at Stord
Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and this extension will position Kvaerner for deliveries of new solutions to both oil and gas projects and other market segments," said Kvaerner president & CEO, Jan Arve Haugan. The investment is subject to approval by Kvaerner's Board of Directors within a short period of time.
S.Korea Backs US Shale Gas Imports, Investment
South Korea stepped up a push on Friday to encourage its oil and gas companies to invest in U.S. shale gas projects, amid expectations that more opportunities will arise under a Trump administration. Asia's fourth-largest economy is the world's second-largest buyer of liquefied natural gas (LNG) after Japan, importing about 30 million tonnes a year through state-run Korea Gas Corp (KOGAS). In a meeting with the heads of Korean gas companies, energy minister Joo Hyung-hwan stressed the need to strengthen bilateral cooperation in the gas sector, with the first Korean imports of U.S. shale gas due to start next year, according to the ministry statement.