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Sunday, January 21, 2018

Lng Business News

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

MOL to Join LNG Terminal Project in India

Photo: Mitsui O.S.K. Lines

Mitsui O.S.K. Lines (MOL) announced the signing of agreements with Swan LNG Private Limited (Swan LNG) for the long-term operation / maintenance of a floating, storage and regasification unit (FSRU) and provision and long-term operation / maintenance of a floating and storage unit (FSU) that will serve as the core receiving facilities in an LNG terminal to be developed by Swan Energy Limited (Swan Energy) in Gujarat, India. The FSRU serving this project is being ordered and owned by Swan Energy through its subsidiary, and MOL has an option to participate in the FSRU joint ownership.

Sojitz Buys Spanish LNG Terminal

Pic:  Sojitz Corporation

Japan's Sojitz Corporation has acquired full ownership of First State Regasificadora (FSR), subsequently changing the company’s name to Sojitz Regasificadora (SR). SR owns a 15% stake in Regasificadora del Noroeste (Reganosa), whose assets include the LNG terminal located in Mugardos, located in the northwest of Spain. This makes Sojitz Corporation (Sojitz) the first Japanese trading company to enter into the LNG terminal business in Europe. Reganosa commenced operations at the Mugardos LNG Terminal in 2007.

World's Largest FSRU Named as MOL FSRU Challenger

MOL FSRU Challenger. Photo: Mitsui O.S.K. Lines

Mitsui O.S.K. Lines (MOL) has announced that a naming ceremony for the MOL FSRU Challenger was held at the Okpo shipyard of Daewoo Shipbuilding & Marine Engineering Co., Ltd.in Korea on September 28.This is the first FSRU for MOL to independently build, own and operate. Many Guests were invited to witness the naming of our FSRU as the MOL FSRU Challenger. The MOL FSRU Challenger will provide storage and regasification services to a project in Turkey after delivery during October. Operation is slated to commence within 2017.

ENGIE, Wärtsilä to Develop Small Scale LNG Markets

ENGIE has signed a Memorandum of Understanding (MoU) with Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets to develop solutions and services in the small scale LNG business. The cooperation covers four work streams: LNG for ships, LNG distribution in islands and remote areas, LNG to Power solutions and small scale LNG and bio liquefaction. Both ENGIE and Wärtsilä are committed to work for a low-carbon economy and shifting from coal or diesel towards LNG-solutions is an important step in the right direction. Through this partnership, both companies will share Wärtsilä’s technical expertise and Engineering Procurement and Construction capabilities and ENGIE’s technical expertise…

Malaysia's Petronas to Buy its Own Newbuild LNG Ships

Petronas says that as part of its strategy to optimise the value of its liquefied natural gas (LNG) business, it has decided to directly procure newbuild LNG ships to meet its LNG transportation requirements. The move will allow Petronas to have direct access to LNG shipping capacity at the lowest possible costs. The company adds that they will be engaging MISC Bhd to provide Project Management and Technical Consultancy services for the construction of the new LNG ships, given MISC’s extensive experience and expertise in the LNG shipping sector and familiarity with Petronas’ business needs. Petronas was incorporated on 17 August 1974 as the national oil company of Malaysia,  vested with the entire ownership and control of the petroleum resources in the country.

ABB Wins LNG Propulsion Contract

Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years, we have received orders for medium-voltage systems for 23 LNG carriers with conventional steam turbine propulsion. To the new Gaz de France LNG carrier, ABB will supply a complete propulsion drive system in a redundant electrical configuration.

MISC Bhd: Revenue Up

Puteri Firus, LNG Shipping. Photo: MISC Berhad

Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015 full year financials when compared to 2014. The liquefied natural gas (LNG) shipper said the higher earnings compared with RM2.04bil from a year ago were supported by the 17.3% rise in revenue. Revenue increased to RM10.91bil from RM9.29bil while group operating profit jumped 54.1% to RM2.84bil from RM1.84bil a year ago.

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.

Total to Broaden LNG Cooperation with Korea Gas

French oil and gas company Total said on Wednesday that it signed an agreement with Korea Gas to extend the cooperation in their liquefied natural gas (LNG) businesses.   The agreement is designed to jointly identify and pursue opportunities to develop the LNG market in Asia and in new importing countries, Total said in a statement.   The French group added that the firms would also cooperate in LNG trading and terminal optimisation.   Total and Korea Gas are partners in the $18.5 billion Gladstone LNG project in Australia alongside other companies including Santos and Petronas.     (Reporting by Bate Felix; Editing by James Regan)

Invensys Introduces New CTS System for LNG Carriers

Invensys Process Systems announced that its next-generation Foxboro custody transfer system (CTS) for LNG carriers has been certified by NKKK (Nippon Kaiji Kentei Kyokai) of Japan. The Foxboro Custody Transfer System Reference V for LNG carriers is based on a new non-contact pulsed laser technology that is designed to combine the accuracy of traditional capacitive-based systems with the lower total cost of ownership of non-intrusive radar-based level measurement systems. The system is also designed to provide the high accuracy measurements and data logging of levels, temperatures, and pressures required for the calculation of total LNG cargo loaded or discharged. The data is then converted to volumetric measurement.

World's First FLNG Vessel Steel-Cutting

A steel cutting ceremony for the hull of Petronas' first Floating Liquid Natural Gas (FLNG) held at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. The steel cutting event signifies a major milestone for the project, which according to Petronas is the world’s first, and the construction phase now commences to meet its commissioning schedule in 2015. The ceremony was led by Petronas’ President and Group CEO, Tan Sri Dato’ Shamsul Azhar Abbas and was jointly hosted by Technip’s President & CEO Mr. Thierry Pilenko and DSME’s President & CEO Mr. Jaeho Ko. The floating LNG facility will be located in Malaysia’s Kanowit gas field, 180 kilometres offshore Sarawak and will have the capacity to produce 1.2 mtpa of LNG per year.

Moody's assigns ratings to MISC

Moody's Investors Service has assigned Baa2 foreign currency and local currency issuer ratings to Malaysia International Shipping Corporation Berhad (MISC). The outlook for the ratings is stable. The ratings of MISC are assigned on a stand-alone basis. Moody's ratings reflect the strong and stable cash flow of MISC derived from long-term contracts. The long-term nature of these contracts ensures MISC a stable revenue stream. Moody's recognises that the LNG shipping contracts of MISC for MLNG and MLNG2 are long-term contracts on a "take-or-pay" basis. Moody's further expects MISC to enter into similar long-term "take-or-pay" contracts for MLNG3. The inherently highly profitable LNG business, which reflects high demand for LNG, in Moody's opinion, is likely to persist for some time.

Gethings Joins Seaspan Marine as Business Development VP

Jenny Gethings (Photo: Seaspan Marine)

Jenny Gethings has been named vice president of business development at Seaspan Marine, the company announced. Gethings will lead Seaspan’s business development team as it continues to pursue new business, identify new markets and develop current and future opportunities for its marine division. Gethings brings to the role more than 25 years in the marine industry, including port operations and cargo logistics, and most recently served as director of global projects for Schenker Canada, where she was responsible for numerous projects worldwide.

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.

Exmar Optimistic About Gas Carrier Market into 2015

Photo: Exmar

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter and was expected to remain good in spite of new vessels being delivered in 2015. The group said its LNG business unit generated $8.5 million in operating profit in the third quarter, up from $7.8 million last year, while its LPG fleet saw an earnings spike to $15.6 million from $5.2 million last year mainly due to the sale of a vessel.

ACL Announces Appointments and Promotions

American Commercial Lines Inc. (ACL) announced that it has appointed Mr. Joseph J. Rella as its Vice President, Sales for Jeffboat LLC, a subsidiary of ACL. Rella brings many years of marine industry knowledge in the area of sales, business development, manufacturing and engineering skills to the Company. Houston. Previously, Rella spent over six years with Atlantic Marine, Inc. in various sales and marketing positions. U.S. Merchant Marine Academy, Kings Point, New York and graduated with honors from the U.S. Navy Nuclear Power School. In addition, Shayne K. Vice President, Human Resources. Ms. Continental Tire. relations.

Dawei LNG Terminal for Shell

A graphical representation of the Dawei Special Economic Zone and deep sea port project. Courtesy: Roland Berger

Royal Dutch Shell plc recently entered into an agreement with Thailand-based companies to develop a liquefied natural gas (LNG) terminal at the Dawei special economic zone in the Tanintharyi Region in Myanmar, says local daily Myanmar Times. The firm has signed a Joint Development Agreement (JDA) with Thai companies Italian-Thai Development and LNG Plus International in Bangkok on August 19 to cooperate on developing the terminal. It will consist primarily of an LNG receiving and re-gasification terminal at Dawei special economic zone. The LNG will be sold through Myanmar and Thailand.

New Report Finds LNG Future Bright

The new report “The Drewry Annual LNG Shipping Market Review and Forecast” finds one sector of shipping with a bright future. new/expanded, terminals. encouraging speculative ventures and new entrants. New technologies are helping to bring costs down and make previously uneconomic projects viable. efficient units that will not only reduce fuel costs bit will also increase cargo carrying capacity. for LNG export. to new LNG receiving terminals (especially in North America). the ranks of LNG shipbuilders. (2007)). of India. But it not just new markets that excite! importer in 2006, after a long absence, with a huge contract with Qatar. importing club. Across the Atlantic the USA has been the focus of much of the recent boom in LNG.

Teekay LNG Partners Announces Change to Board of Directors

Teekay LNG Partners L.P. announced that Beverlee F. Park has accepted an invitation to join Teekay LNG's Board of Directors and to Chair its Audit Committee, effective March 11, 2014. Park replaces Robert E. Boyd who retired today from the Teekay LNG Board after serving as a Director and Chair of its Audit Committee since 2005. Park has extensive management and board experience in a variety of industry sectors. She has served at the board, CEO, COO and CFO level in publicly-traded, private and Crown corporations and has experience in an array of operating environments in both the domestic and offshore markets. Park was elected as a Fellow of the Institute of Chartered Accountants of British Columbia in 2012. She has served on and acted as Chair of various audit committees.

LNG FPSO Ordered

Höegh LNG announced that it has entered into agreements with major contractors and formally started the engineering and design for its first LNG FPSO Unit (Floating Production Storage and Offloading), with the objective to design and construct the worlds’ first LNG FPSO. “Our strategy is to develop Höegh LNG’s business model from pure LNG transportation into offering also solutions for LNG production and floating regasification terminals”, says Sveinung Støhle, President and CEO of Höegh LNG AS. The proposed project will consist of a ship shaped offshore classed structure with the capacity to treat and liquefy a well stream of approx 2.5 billion cubic meters pr. year, which will give an annual production of approx 1.6 million tons of LNG and approx 0.5 million tons of LPG.

DNV GL Launches LNG Fuel Finder

Image: DNV GL

Just in time for Nor-Shipping, DNV GL will launch the LNG Fuel Finder - a new tool on its LNG business intelligence portal LNGi. The new LNG Fuel Finder service will allow shipowners and charterers to register their interest in using LNG as a ship fuel free of charge, connecting them directly with LNG suppliers. DNV GL has also introduced the option of signing up to a new lean version, where interested parties can access some of LNGi’s services and data free of charge. The question…

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