Qatar to Maintain Dominance in Global LNG Market
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…
Qatar Seeks to Open New LNG Markets with Floating Terminals
Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar to sell its liquefied natural gas (LNG) via floating import terminals. Hoegh LNG, a developer of floating LNG import terminals, expects to start work on the import terminal project in a matter of months, CEO Sveinung Stohle told Reuters. Stohle said Hoegh LNG and Qatar Gas Transport Company, which operates a large fleet of LNG tankers, are evaluating countries in which they could establish a floating terminal, naming South America and south-east Asia as attractive prospects. Top LNG producer Qatar, which is in the midst of a diplomatic crisis that erupted when Saudi Arabia and other Arab states cut diplomatic and transport links with Doha in early June…
UASC Places Huge Containership Order
United Arab Shipping Company (UASC) closed a $1.3 biillion (USD) multi-tranche syndicated loan facility for the partial financing of seven 14,000 TEU container ships and five 18,000 TEU container ships. The facility is part of a larger $1.7 billion debt financing related to UASC’s announced $2.3 billion capital expenditure program for 17 newbuilding container vessels including, in total, 11 14,000 TEU and six 18,000 TEU vessels. Deutsche Bank AG, London Branch (DB) acted as Global Coordinator to UASC for the entire $1.7 billion debt financing. The 17 vessels include 10 vessels for which shipbuilding contracts were signed in August 2013 with the remaining seven vessels being option vessels. The process of option vessels is still continuing.
Inland Waterways Authority of India to Raise USD 103 mln Through Bonds
The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Revalidation of permission to raise Extra Budgetary Resource (EBRs) of INR 660 crore (USD 103 mln) as Government of India Bonds by Inland Waterways Authority of India (IWAI) in 2017-18. The proceeds from the bonds will be utilized by IWAI for development and maintenance of National Waterways (NWs) under National Waterways Act, 2016 (effective from 12.4.2016). Funds received through issue of bonds will be used exclusively for capital expenditure to improve infrastructure funding.
Qatar LNG Flows Unaffected by Crisis -Shell
Qatari exports of liquefied natural gas (LNG) remain stable amid ongoing tension between the world's biggest LNG exporter and its neighbours, an executive for Royal Dutch Shell said on Monday. "LNG flows remain stable, cargoes are going into the market," said Steve Hill, Executive Vice-President for Gas and Energy Marketing and Trading at Shell, one of the world's biggest LNG traders. "Qatar is a very credible and competent LNG producer," Hill said at an industry event in Istanbul. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties with Qatar on June 5, accusing it of backing terrorism. Doha has denied the allegations. Qatar said on Monday that its exports, including of LNG, to Japan, India, South Korea and China had not been affected by a the boycott.
Qatar to Boost LNG Production by 30% Amid Arab Dispute
State-owned Qatar Petroleum said Tuesday it aims to raise Qatar’s LNG production from 77 million to 100 million tons per year. The new additional volumes will be secured by doubling the size of the new gas project in the southern sector of the North Field, which Qatar Petroleum had announced last April. This will increase the North Field’s production of natural gas, condensate and other associated products by one million barrels of oil equivalent per day. The announcement was made by Saad Sherida Al-Kaabi…
Qatar Engineering Developments Assisted by TAMUQ
Texas A&M University at Qatar is actively engaged in solving engineering problems for major industries and companies in the country through path-breaking research, development, and technical services, according to a news report in 'Gulf Times'. In the relatively short period since the university arrived in Qatar, excellent collaboration and partnership have been established with many companies and government organisations, including British Petroleum, Chevron Qatar, ConocoPhillips Qatar, GDF Suez Qatar, Maersk Oil, National Instruments, Qatar Fertiliser Company, Qatar National Research Fund, Qatar Petrochemical Company, Qatar Petroleum, Qatar Shell, Qatar Science & Technology Park, Qatar Telecom, RasGas and Schlumberger.
Hapag Lloyd-UASC Merger Hits Snags
A merger of Hapag-Lloyd and United Arab Shipping Company (UASC) has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say. Hapag Lloyd Chief Executive Rolf Habben Jansen told a news conference this week he had underestimated the complexity of the 7 billion to 8 billion euro ($7.6-$8.7 bln) deal, which will create one of the world's largest shipping lines. Two finance sources…
Egypt Bans Qatari Ships Docking in Suez Canal
The Suez Canal Authority is committed to a ban on allowing Qatari ships to dock in ports within the Suez Canal’s economic zone, Ahram reported as chairman Mohab Mamish saying. In press statements on Friday, Mamish said that Egyptian ban on the ships is being imposed on all ports within the zone based on Egyptian sovereignty over its territorial waters. The decision, however, does not include a ban on passing through the canal, as under the Constantinople 1869 agreement it is illegal to ban ships coming from any country from passing through.
Maersk Oil Supports Development of Qatar's Future Engineers
The three day programme includes a series of workshops, seminars and panel sessions allowing experts, researchers and leaders of the oil and gas industry to network and to share technical and industrial information with high school students, university students and young engineers. "Education, training and development of Qatari nationals are key priorities within Maersk Oil Qatar , and this latest initiative is another way in which we are contributing to the long-term sustainable development and continued growth of Qatar," explained Sheikh Faisal Al Thani, Deputy Managing Director of Maersk Oil Qatar. "Opportunities like the Young Members Activities Programme provide an ideal platform for young Qatari engineers and professionals to continue developing their skills and knowledge…
Nakilat Takes LNG Carrier In-House
Qatar Gas Transport Company (Nakilat) has assumed full ship management and operations of Q-Flex LNG carrier Al Sheehaniya from STASCo (Shell Trading and Shipping Company) with effect from 6 July 2017, as part of the planned and phased transition announced on 19th October 2016. With a cargo carrying capacity of 210,200 cubic meters, Al Sheehaniya is wholly-owned by Nakilat and chartered by Qatargas. The vessel built in South Korea by Daewoo Shipbuilding & Marine Engineering was delivered in February 2009 and has been in service ever since.
New Euronav $500M Credit Facility for FSO Project
The credit facility consists of a USD 180 million term loan to finance the acquisition of TI Asia (2002) and TI Africa (2002) by joint venture companies owned equally by Euronav and OSG and USD 320 million term loan to finance the conversion of the ships into FSO (Floating Storage Offloading) service vessels, which are scheduled to deliver to Maersk Oil Qatar on the Al Shaheen field offshore Qatar and start operation respectively on July and September 2009. The credit facilities have 8 year maturity as from the date of deliveries of each of the 2 vessels on site. Borrowings under this facility bear interest at a rate based on LIBOR plus an attractive margin.
US Sanctions Chinese Shipping Firm over North Korea Ties
The U.S. Treasury Department said on Thursday it was placing financial sanctions on two Chinese nationals and a Chinese shipping company over their ties to North Korea stemming from its nuclear program. The department said in a statement it was sanctioning Wei Sun for links to the Foreign Trade Bank of the Democratic People's Republic of Korea, Hong Ri Li for his links to North Korean banking executive Song-hyok Ri, as well as the Dalian Global Unity Shipping Co Ltd of Dalian, China. (Reporting by Eric Walsh)
Drilling in Disputed South China Sea may Resume
Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said on Wednesday, as the government prepares to offer new blocks to investors in bidding in December. The Philippines suspended exploration at the Reed Bank, which it calls Recto Bank, in late 2014, as it pursued international arbitration over territorial disputes. The bank is in waters claimed by China. Ismael Ocampo, director at the Department of Energy's Resource Development Bureau, told reporters the agency expected the suspension to be lifted in December. He said a directive from the Department of Foreign Affairs directing the Department of Energy to resume oil and gas exploration in the South China Sea was already in the works.
Qatar Onslaught of LNG Supply to Shake-up the Market
Gas giant Qatar is the world’s top supplier of liquefied natural gas (LNG), but in the coming five years it could be surpassed by Australia, a shift which could weigh on its dominance in Asia, reports Reuters. Asia accounts for almost three quarters of the global market and has paid the highest prices. And Qatar is becoming commercially sharper, using traders and tenders to grab new customers, and fighting to hold on to its share in the prized Asian market. According to Noel Tomnay…
Mwani Qatar, Milaha Team-up to Manage Hamad Port
HE Minister of Transport and Communications Jassim Saif Ahmed Al Sulaiti, Chairman of Qatar Ports Management Company (Mwani Qatar) and Sheikh Ali bin Jassim bin Mohammad Al-Thani, Chairman of Qatar Navigation (Milaha), today witnessed the signing of an agreement between Mwani Qatar and Milaha to establish a new company, QTerminals, to manage Hamad Port. As per the agreement, the new company will be co-owned by Mwani Qatar; 51%, and Milaha; 49%, and will manage operations at Hamad Port as an independent company with its own board of directors, executives and staff.
Nakilat Damen Shipyards Qatar JV is 5
On 23 November 2015, Nakilat Damen Shipyards Qatar celebrated its first 5 years of operation. With 40 vessels delivered or under construction, the yard has proven its capability to support Qatar’s national strategy for economic diversification. Damen Chief Commercial Officer Arnout Damen. NDSQ was established in 2010 as a joint venture between Qatar Gas Transport Company Ltd. (Nakilat) and Damen Shipyards Group. Located in the northeastern corner of Qatar, the yard is ideally positioned in the middle of the Arabian Gulf and able to build ships up to 170 metres in length in steel…
Qatargas starts operations at Laffan Refinery 2
Qatargas, the world's largest LNG producer, announced the commercial start-up of Laffan Refinery 2, marking a major milestone in the expansion of refining capacity in the State of Qatar. The project will refine 146,000 barrels per day of condensate from the North Field, the largest non-associated natural gas reserve in the world. Laffan Refinery 2 produces low Sulfur Euro-V specifications products such as Naphtha, Jet-A1, Ultra low Sulfur Diesel (ULSD), Propane and Butane for local and international markets.
Keppel Delivers Project to Qatar Ahead of Schedule
Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), will deliver its first jackup drilling rig ahead of time to Qatar’s national drilling company, Gulf Drilling International Ltd (GDI). Built to Keppel’s proprietary KFELS B Class design, the first rig will be named Al-Khor, after one of Qatar’s historical cities which has contributed to the development of Liquefied Natural Gas (LNG) in the country in recent years. Lim Boon Heng, Minister, Prime Minister’s Office of the Republic of Singapore and Mr S Al-Shirrawi, Chairman of the Board of Directors of GDI and Finance Director of Qatar Petroleum graced the occasion of its inauguration ceremony at Keppel FELS in Singapore today.
Qatar Shipping Secures Ship Financing
Proceeds from the facility will be utilized by Qatar Shipping to fund the ongoing construction of 19 harbor assistance vessels. The vessels will be deployed in Mesaieed Port on a 20-year, QR1.8bn contract, signed with Qatar Petroleum in 2011. The financing was arranged by Milaha Capital, another wholly-owned Milaha subsidiary, which provides corporate finance advisory services to the group as part of its mandate. The financing agreement was signed by Milaha's President & CEO Khalifa bin Ali Al-Hetmi and Mr. Abdulla Mubarak Al Khalifa, General Manager Corporate Banking from QNB Group. Also in attendance were senior executives from Milaha, its subsidiaries and QNB. Speaking on the occasion, Mr.
30 Cruise Ships to Reach Qatar Next Year
Qatar's Doha Port expects to receive around 30 cruise ships next year, says Director of Doha Port Management Captain Abdul Aziz Nasser al Yafei. The port had received three cruise ships this year. He also said the new Hamad Port may receive mega cruise ships starting from next year, reports Qatar News Agency (QNA). According to him, Hamad Port is likely to conduct a test run this month to receive commercial vessels. He said the Qatar Ports Management Company (Mwani) plays an important…
Qatar Shipyard, Nakilat, JV's Get US$160-million Funding
Al Khalij Commercial Bank (al khaliji) QSC has provided financing for the two Nakilat shipyard joint ventures: Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ) for US $120m and US $40m respectively. Nakilat is a Qatari marine transport company providing the essential transportation link in the State of Qatar’s LNG supply chain. The company says its LNG shipping fleet is the largest in the world, comprising 56 LNG vessels. Nakilat also manages and operates four large LPG carriers.
Keppel to Make its Mark in Qatar
Keppel FELS, a wholly-owned subsidiary of Keppel Offshore and Marine Ltd, will deliver its first Jack Up Drilling Rig ahead of schedule by the end of this year to Qatar's national drilling company, the Gulf Drilling International (GDI), the company's officials announced in Singapore recently. Built to Keppel's proprietary KFELS B Class design, the first rig has been named Al Khor, after one of Qatar's historical cities which has contributed to the development of Liquefied Natural Gas (LNG) in the country in recent years. The second rig will be delivered in end 2007. Al Khor has been built to GDI's specifications for operations in water depths of up to 300 feet and drilling depth of down to 30,000 feet.