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Monday, January 22, 2018

Global Lng News

Socgen Joins SEA\LNG

Photo: SEA\LNG

French multinational banking and financial services company Societe Generale (Socgen) has joined SEA\LNG, the industry coalition promoting the use of liquefied natural gas (LNG) as a marine fuel. The bank is the first financial institution to join SEA\LNG. Joining a growing band of industry leaders from across the LNG value chain, Societe Generale brings an essential financial perspective to the group which aims to accelerate the uptake of LNG as a marine fuel. Paul Taylor, Global Head of Shipping Finance…

BG Global LNG Appoints New VP

BG Global LNG appointed David Maxwell to the leadership team of the Global LNG business, according to a Chron.com report. As vice president and general manager, LNG Business Development, Maxwell will be responsible for developing new LNG opportunities in Asia Pacific for BG as well as helping to realize existing opportunities. Maxwell was with Woodside where he was director, Gas and Marketing and was involved in the development of Woodside's natural gas and LNG portfolio. He brings an in-depth knowledge of the oil and gas markets in the Asia Pacific region. Prior to this he was with Santos and had responsibility for marketing and business development. Maxwell will be based in BG's offices in Singapore. Source: Chron.com

BG Global LNG Appoints New VP

BG Global LNG appointed David Maxwell to the leadership team of the Global LNG business, according to a Chron.com report. As vice president and general manager, LNG Business Development, Maxwell will be responsible for developing new LNG opportunities in Asia Pacific for BG as well as helping to realize existing opportunities. Maxwell was with Woodside where he was director, Gas and Marketing and was involved in the development of Woodside's natural gas and LNG portfolio. He brings an in-depth knowledge of the oil and gas markets in the Asia Pacific region. Prior to this he was with Santos and had responsibility for marketing and business development. Maxwell will be based in BG's offices in Singapore. Source: Chron.com

El Paso Global LNG Signs MOU With EGAS

El Paso Global LNG, a subsidiary of El Paso Corporation has signed a Memorandum of Understanding (MOU) to work with the Egyptian Natural Gas Holding Company (EGAS) and the Eqyptian General Petroleum Corporation (EGPC) to investigate opportunities for El Paso to invest in the natural gas sector in Egypt. The MOU will allow the parties to cooperate in the exploration, production, gathering, transportation, and processing of natural gas and the possible development of a liquefied natural gas (LNG) liquefaction plant in Egypt. The parties will begin various studies into Egypt's natural gas sector immediately.

Liquefaction Terminals to Draw Big Spending

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to the new ninth edition of Douglas-Westwood’s (DW) World LNG Market Forecast 2015-2019, which predicts investments to be 88% larger than during the previous five-year period. Report author, Amanda Tay, commented, “Global LNG Capex witnessed a slowdown in the period 2009 through to 2012, as a result of the global recession. Post-2012, alongside stronger confidence in the global economy and a growing appetite for energy, the industry started picking up and has piqued investors’ interest in LNG projects again.

Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to the new ninth edition of Douglas-Westwood’s (DW) World LNG Market Forecast 2015-2019, which predicts investments to be 88% larger than during the previous five-year period. Report author, Amanda Tay, commented, “Global LNG Capex witnessed a slowdown in the period 2009 through to 2012, as a result of the global recession. Post-2012, alongside stronger confidence in the global economy and a growing appetite for energy, the industry started picking up and has piqued investors’ interest in LNG projects again.

Novatek Says Ships First LNG Cargo

Photo: NOVATEK

Russia’s Novatek Gas & Power has supplied its first ever cargo of liquefied natural gas, marking the company’s first step into global LNG trading business. The cargo was sourced from Trinidad & Tobago’s LNG plant in Point Fortin and delivered to the Quintero import terminal in Chile. He added: "After the launch of the first train of the Yamal LNG project we will enter the LNG market with our own volumes, and gaining spot trading experience is important for us”. Novatek is the…

Report: Global LNG Market to Double by 2010

The global market for liquefied natural gas is expected to grow rapidly until the end of the decade, doubling in size over five years to 2010, according to a report published by PriceWaterhouseCoopers, as reported in Forbes. That will mean LNG will be contributing around 40 pct of the anticipated growth in global gas supply between 2005 and 2010, it said. Qatar, Nigeria and Australia will lead the growth, said Michael Hurley, head of the Global LNG team at PwC. But the report also highlighted the risks facing companies involved in the LNG business such as BG Group PLC , stressing that previous LNG activity has been the subject of 'enormous ups and downs', with some infrastructure built in the 1970s remaining unused until the 1990s.

Global LNG Bunkering Market to Reach USD 8.19bln by 2023

Photo: Shell

Global LNG Bunkering market is expected to grow from $248.64 million in 2016 to reach $8187.35 million by 2023 with a CAGR of 64.7%. According to Stratistics MRC, growing marine logistic business, cost efficient LNG products, and imposing environmental regulations on chemical emissions are some of the factors bolstering the market growth. In addition, easy deployment facility is another factor fuelling the market growth. However, higher capital investments, poor bunkering infrastructure are the factors inhibiting the market growth.

Shell Orders Two LNG Tankers

The gas and power division of Royal Dutch/Shell ordered two additional liquefied natural gas (LNG) carriers to support its growing global LNG business. Shell International Gas Limited ordered a membrane-type carrier from South Korea's Daewoo Shipbuilding & Marine Engineering and a moss spherical tank carrier from Japan's Mitsubishi Heavy Industries. Shell did not disclose the price for the orders, but industry sources said the market level for a typical LNG carrier was around $175 million. The two new vessels have been secured against the background of a growing portfolio of Shell LNG projects around the world which require shipping capacity and will help supply growing demand for LNG.

BP’s LNG Carrier Fleet is Growing

BP said it will take delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio. BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers. The vessels will join BP’s exixting fleet to help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BP’s global portfolio. “These vessels will significantly increase BP’s ability to safely transport LNG to anywhere in the world, directly supporting BP’s global natural gas strategy,” said BP Shipping CEO Susan Dio. The new ships are designed to be about 25 percent more fuel efficient than their predecessors, BP said.

Shell: LNG Demand Strong to 2030

Shell launches LNG Outlook Global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year. This included an increase in net LNG imports of 17 MT. Many expected a strong increase in new LNG supplies would outpace demand growth during 2016. Instead, demand growth kept pace with supply as greater than expected demand in Asia and the Middle East absorbed the increase in supply from Australia, according to Shell’s first LNG Outlook. “Global LNG trade demonstrated its flexibility time and again in 2016, responding to shortfalls in national and regional gas supply and to new emerging demand,” said Maarten Wetselaar, Integrated Gas and New Energies Director at Shell.

Bright Future for LNG Bunkering - TMR

Image Courtesy TMR

Transparency Market Research (TMR) have given a detailed insights and analysis of the global market for LNG bunkering fuel in its recently published market research report. On the basis of capacity, the market, which had a valuation of mere 70 kilo tons in 2013, is projected to expand at an astounding 63.6% CAGR between 2014 and 2025 and reach 22,540 kilo tons by 2025. The report includes an analysis of market’s historical statistics to present an overview of the growth trajectory…

South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal

A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also said in a statement to Reuters that it would be seeking to buy floating LNG production and import facilities as part of an ambitious plan for Africa and Asia. The orders would be a major shot in the arm for South Korea's ailing shipbuilding industry, which has been hit by a collapse in new orders as global trade growth slows and after the slump in commodities prices in recent years.

Flex LNG signs deals to buy six new vessels

Image: Flex LNG

Oslo-listed Flex LNG has signed contracts to buy six new liquefied natural gas (LNG) vessels for its fleet by 2019, as it bets on increasing fuel demand from Britain and other countries, its chief executive told Reuters. The gas shipping company said earlier this year it was considering buying the six vessels, each with around 170,000 cubic metres of capacity, subject to securing funding for the $1.2 billion transaction. Geveran Trading, the private investment vehicle of billionaire shipping tycoon John Fredriksen…

Qatar to Maintain Dominance in Global LNG Market

Photo: Qatargas Operating Company Limited

Qatar will maintain its dominance over the global liquefied natural gas market despite increased supply from Australia and the United States, the weekly report by Qatar National Bank (QNB) said. A report in The Penisula quoting QNB said that Qatar currently accounts for 30.1 percent of the global market. The country captured nearly 70 percent of the new African demand, more than compensating for the lower cargoes to Japan. Amidst these market shifts, Qatar maintained its position as the world's largest and most cost-efficient producer…

MISC Berhad Names New LNG Carrier Seri Cenderawasih

Official Seri Cenderawasih Photo MISC

MISC Berhad today held the naming and delivery ceremony for its new LNG carrier, Seri Cenderawasih. The 150,200 CBM liquefied natural gas (LNG) carrier is the second in a series of five MOSS-Type LNG carriers ordered from Hyundai Heavy Industries Co., Ltd. (HHI”) by MISC. Upon their delivery, these new LNG Carriers will be on a long-term charter to PETRONAS. The naming ceremony was graced by the presence of Encik Md Arif Mahmood, Executive Vice President & Chief Executive Officer…

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger than the previous five years following a slowdown in 2009 through to 2012 as a result of the global recession. Liquefaction terminals will form two-thirds of total Capex, a 90% growth compared to the last five years. Import terminal expenditure is forecast to make up a quarter of total global expenditure, a 112% increase, with LNG carrier expenditure accounting for 9%. Global LNG Capex has been dominated by Australasia and Asia in recent years, however, over the forecast period all regions are expected to experience positive growth, except for Australasia and the Middle East.

3 Cargo Tenders for Australia's NWS LNG Project

Australia's North West Shelf liquefied natural gas (LNG) export plant is expected to soon launch a tender to sell three cargoes loading in September, shipping and trading sources with knowledge of the matter said. The project's stakeholders expect a September-loading tender to be issued imminently, given recent production trends, likely this week or next, one of the sources said. The additional supply will enter an already saturated global LNG market, which has spurred one of the sharpest price downturns on record, with cargoes now changing hands at $11.05 per mmBtu. Reporting by Oleg Vukmanovic

Daewoo Shipbuilding Gets Order From Exmar

Daewoo Shipbuilding & Marine Engineering Co. has won a $270 million order to build a liquefied natural gas carrier and refit three other LNG carriers for Exmar N.V. of Belgium. According to reports, Daewoo will deliver the vessels by 2005. The vessels are capable of carrying 4.83 million cubic feet of liquefied natural gas each and will be chartered to Houston, Texas-based El Paso Global LNG.

Exxon's New Guinea LNG Plant: 4 August Cargoes

ExxonMobil's Papua New Guinea liquefied natural gas (LNG) export plant is offering to sell four cargoes loading in August to long-term buyers as well as Asian end-users, two traders said. The rapid export rate from the new plant, which was completed ahead of schedule, has helped push global LNG prices lower as major Japanese buyers retreat from spot markets. The plant's main long-term buyers are Japan's Tokyo Electric Power, Osaka Gas and Taiwan's CPC, but low demand across Asia may have led Exxon to broaden its offers. Reporting by Oleg Vukmanovic

Asia: LPG Shipping and LNG Pricing

Image: Navigator Gas

While declining Asian LNG prices have reduced margins on the long-distance LNG trade, causing spot-charter rates for LNG vessels to fall, LPG shipping earnings are forecast to remain buoyant on the back of low oil prices and the absence of fuel substitution. According to LPG Forecaster, published by global shipping consultancy Drewry, low oil prices have not triggered the substitution of LPG as the fuel of industrial use, as feared by some analysts. As a result, LPG shipping demand has remained intact and low bunker prices have supported vessel earnings.

LNG Under Construction by Samsung Heavy Industries

Araldite LNG adhesives from Huntsman Advanced Materials are being employed by shipyards, including Samsung Heavy Industries in the construction of a new LNG ship. The vessel is the 100th of its kind to employ Araldite adhesives and to be built for use in the global LNG industry. LNG ships are enormous ocean-going vessels that transport supplies of LNG between energy rich and power hungry countries. The global LNG market is experiencing a period of rapid growth. It is estimated that in 2006, Europe will import over 40 million tonnes of LNG to make up for short falls in domestic energy supplies.* To meet worldwide demand for the cost-effective delivery of LNG supplies, enormous industry containment ships are required to transport cooled LNG supplies thousands of miles.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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