Gas Unit News

Shell aims to start exports from Prelude LNG this year; Inpex hopes to commence shipments from Ichthys LNG. Shell and Inpex are on the final stretch of a years-long race to export gas from offshore northern Australia, where both have spent billions of dollars building the world's biggest maritime vessels to grab a slice of Asia's booming LNG market. Anglo-Dutch energy major Royal Dutch Shell and Inpex, Japan's biggest oil and gas producer, are vying for first gas from two overlapping fields after delays and cost overruns that have plagued both projects. The pair have spent billions on offshore facilities, including Shell's 490 metre (1,600 ft) long Prelude floating liquefied natural gas unit and Inpex's Ichthys Explorer semi-submersible platform, both the world's largest of their class.

General Electric Co posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits, sending shares sharply higher. GE affirmed its forecast for 2018 earnings and cash flow, and said it expects to book as much as $10 billion in proceeds from divesting industrial assets this year. Those comments eased concern that GE would post poor results. GE's profit reflected 7-percent revenue growth and vigorous cost cutting. Revenue rose in aviation, oil-and-gas and healthcare, offsetting declines in power, transportation, lighting and renewable energy. GE sliced $1 billion in costs, including $800 million in industrial structural costs.

Houston-based energy company Cheniere Energy said that it is nearing completion of its fourth liquefied natural gas unit at its massive Sabine Pass terminal in Louisiana near the Texas border. The company, primarily engaged in LNG-related businesses, owns and operates the Sabine Pass LNG terminal in Louisiana. "Our long-term contract with Gas Natural Fenosa commenced and first LNG production occurred from Train 4 at Sabine Pass," said Jack Fusco, Cheniere's President and CEO. "We are revising our 2017 guidance upward as our operating results year-to-date have exceeded our expectations, primarily due to LNG trains entering service ahead of schedule and the ramp-up in LNG production levels occurring faster than we'd forecast earlier this year.

GTT said it has received an order from Samsung Heavy Industries (SHI) to equip a new Floating Liquefied Natural Gas unit (FLNG), reportedly the second biggest in the world.   The new FLNG, with a capacity of 238,700 m3, will integrate eight LNG tanks equipped with the Mark III membrane containment system. The unit will be built at SHI Shipyard, based in South Korea, on behalf of the Oil and Gas company ENI (Eni East Africa SpA) and its delivery is scheduled in 2021. This FLNG will be operated off the cost of Mozambique.   In addition to this new order, the GTT membrane technology has been selected to equip the three FLNGs already ordered in the world. These units are being equipped with the NO96 system as well as the Mark III system.

DONG Energy said it has reached a settlement with Daewoo Shipbuilding & Marine Engineering and Technip over who bears responsibility for construction errors concerning an offshore platform for the idled Hejre field. The settlement clears a major hurdle for the Danish company's plans to divest its oil and gas unit to focus on its growing business of developing offshore wind farms. DONG said in a statement that the agreement will reduce the 2.5 billion Danish crowns ($367 million) of provisions it made in relation to the Hejre field ahead of its listing, which was one of the largest in the world last year. It will also have a positive impact of around 900 million crowns on operating profit in DONG's Discontinued Operations…

Six Rotterdam-based parties will investigate how sustainably generated electricity, converted into hydrogen, can be used in the production of fuels. TNO, Stedin, Smartport, Uniper, BP Refinery Rotterdam and Port of Rotterdam Authority will investigate the technical and economic feasibility of a power-to-gas plant in the Rotterdam port area, as well as the necessary amendments to regulations. The parties above signed a cooperation agreement to this end on 18 January 2017. The construction of wind farms in the North Sea means that a large amount of 'green electricity' will become available in the coming decades and will be landed via the Tennet grid at the Maasvlakte among other places. Using electrolysis, this electricity can split water molecules into oxygen and hydrogen.

From a helicopter, it looks like just another North Sea oil rig, a grey cube supported by massive yellow pillars, 90 kilometres (56 miles) off western Denmark. But the DanTysk facility is the world's first accommodation platform for offshore wind, which is borrowing techniques and labour from the crisis-hit oil sector as it tries to cut costs and end an addiction to state subsidies. The wind industry is moving further offshore and into the deeper waters tamed long ago by oil companies to increase scale and capture stronger and more constant winds. "There's a lot of new-generation technology in the offshore wind industry, but when I'm out there…

General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices. The deal to create a company with $32 billion in annual revenue will combine GE's strengths in making equipment long-prized by oil producers with Baker Hughes's expertise in drilling and fracking new wells. Shares of Baker Hughes were down nearly 7 percent, a drop that executives said likely was due to the deal's complicated structure. GE is already the world's largest oilfield equipment maker, supplying blowout preventers, pumps and compressors used in exploration and production.

Citing sources familiar with the matter, Bloomberg reports that Abu Dhabi is delaying the construction of the UAE’s first land-based LNG import terminal after contracting a floating liquefied natural gas unit. The Abu Dhabi National Oil Company has secured the services of an FSRU due to commence operations later in the year. The vessel will reportedly be based at Ruwais, to the west of Abu Dhabi, where there is an oil refinery and crude-loading port. The EmiratesLNG partnership was unavailable for immediate comment. The Fujairah LNG plant was scheduled for completion in 2018. The company is also going over options additional options for the onshore facility in the port of Fujairah.

DONG Energy <IPO-DONG.CO> has terminated a contract to build an oil and gas platform for its Hejre field, postponing indefinitely the major development offshore Denmark, the Danish majority state-owned utility said on Tuesday. DONG said the supplier consortium, Technip France and Daewoo Shipbuilding & Marine Engineering, had not been able to meet its commitments under the contract. DONG, which operates the field and holds a 60 percent stake, and Germany's Bayerngas, which has the remaining 40 percent, will assess alternatives to develop the field and will work closely with the Danish authorities, DONG said. The project, originally planned to start in late 2015…

Germany's Economy Ministry is investigating whether to block the sale of RWE's oil and gas unit DEA to a group of investors led by Russian tycoon Mikhail Fridman, a spokeswoman said. The German government has never previously made use of a clause in its foreign trade law, under which it could stop the deal announced earlier this year if there were concrete signs it threatened "public safety and order". "An investigation has been started. It is an open-ended investigation (to find out) whether there are conditions for prohibiting the deal under the foreign trade accord," a spokeswoman for the Economy Ministry told Reuters. Spiegel magazine on Sunday reported the ministry had started to look into the deal following fresh information but did not give further details.

Aker Maritime wants to contribute to a solution for Kværner, and is presenting a proposal today which could form the basis for constructive new discussions. This proposal builds on the plan launched earlier by Yukos. Aker Maritime suggests some modifications which make that plan more attractive in financial terms for the company's shareholders. The modified plan will strengthen Kværner financially and make a positive contribution to its lenders. In addition, Aker Maritime is once again willing to offer Kværner the opportunity to secure a good and long-term industrial future. It is proposing to merge its operational activities with Kværner in exchange for Kværner shares. This will create a strong new player in the oil and gas industry, with a substantial potential for international growth.

According to reports, Oil rig and shipbuilding and shiprepair company SembCorp Marine Ltd. S5(1.SG), or SembMarine, Wednesday said it was close to winning an order to build a semi-submersible rig worth around $400 million. SembMarine said its unit, Jurong Shipyard, signed a Letter of Intent with Larsen Oil & Gas unit, PetroMena AS, to build the rig, with the construction contract taking effect in November 2005, and delivery due between the end of 2009 and early 2010.

BW Group aims to double its value to $10 billion by 2010, and may fund its growth by listing its business units, NDTV.com reported. Increased supply deals with Chinese oil majors and new tanker orders will lead to growth that could see BW offer the public shares in its units not already listed. The BW Group has four divisions: BW Tankers, BW Bulk and BW Offshore and BW Gas, a unit that was listed on the Oslo stock exchange last year. The gas unit, which transports liquefied natural gas and liquefied petroleum gas in tankers, was acquired in 2003 when the group bought Norwegian gas heavyweight Bergesen DY. The company has hopes of doubling its equity every five years and foresees potential acquisitions to meet its growth ambitions.

Oil and gas group Repsol-YPF had awarded the construction of three liquid natural gas tankers to Spanish state shipbuilder Astilleros Espanoles. The order is reportedly worth $579.4 million. The boats each have a capacity of 138,000 cu. m and would be used to ship liquid natural gas from Trinidad and Tobago, Repsol's gas unit Gas Natural said.