Rasgas News

QatarEnergy has named the first LNG carrier to be delivered as part of its new LNG fleet expansion program as Rex Tillerson, in recognition of the former Chairman and CEO of ExxonMobil, who also served as the 69th United States Secretary of State.During his 10-year term as Chairman and CEO of ExxonMobil, Tillerson oversaw the consolidation of relations with the State of Qatar and its energy sector, resulting in strategic partnerships and significant investments in Qatar’s LNG industry.While making his mark on the global energy scene…

Qatar plans to raise its liquefied natural gas (LNG) production to 110 million tonnes per year by 2023.A report in Mubasher cited Qatargas’ CEO saying that there are many LNG projects under execution but they still do not meet the rising demands.Qatargas, the largest LNG producer in the world, operates 14 production trains, with a total annual production capacity of 77 million tonnes.The fourth liquefaction train will further boost Qatar’s leading position as the world’s largest LNG producer and exporter. When the expansion project, which was announced last year, is completed, Qatar’s LNG production capacity will reach 110 million tonnes per annum (MTPA)…

Bangladesh will resume liquefied natural gas (LNG) imports this week after resolving issues with its sole floating storage and regasification (FSRU) unit, a senior official said on Monday.Two cargoes, meant to be delivered on Nov. 7 and Nov. 15, had been cancelled as the FSRU was closed due to problems with a hydraulic line that operates an emergency shutdown valve."The problem with the hydraulic line has been resolved now," said Mohammad Quamruzzaman, managing director of Rupantarita Prakritik Gas Co…

The integration of RasGas with Qatargas will enable the world’s largest LNG exporter to save QR2bn ($550 million) a year, Qatar Petroleum (QP), the state-owned energy giant, announced. Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum made the announcement in a press conference held at QP headquarters in the presence of representatives of ExxonMobil, Total, ConocoPhillips, and Shell - the main international shareholders in both companies. Al-Kaabi said “Our aim was to integrate the two companies’ resources and capabilities to create a truly unique global energy operator in terms of size, service and reliability. We also aimed to create higher value for our stakeholders, and enhance the competitive position of the Qatari gas industry.

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…

Nakilat has assumed full ship management and operations of Q-Max LNG carrier Al Dafna from STASCo (Shell Trading and Shipping Company Ltd.) with effect from 2 February 2017, as part of the planned and phased transition announced on 19th October 2016. With a cargo carrying capacity of 266,366 cubic meters, Al Dafna is wholly-owned by Nakilat and chartered by RasGas. The vessel built in South Korea by Samsung Heavy Industries was delivered in October 2009 and has been in service ever since. Al Dafna is the fifth Q-Max LNG vessel that will come under the management of Nakilat Shipping Qatar Ltd. (NSQL), bringing the total number of vessels managed by NSQL to 13, comprising of 9 LNG and 4 LPG carriers.

Qatar, the world’s largest liquified natural gas producer, announced it is to merge state-owned Qatargas and RasGas to create a “truly unique global energy operator”, says an AP report. The country is merging its two government-controlled LNG companies to streamline distribution of the fuel as the OPEC nation grapples with a slump in energy prices. The announcement was made at a press conference held at QP headquarters in the presence of representatives of the main international shareholders in both companies including ExxonMobil, Total, ConocoPhillips, and Shell, and the CEOs of Qatargas and RasGas. Al-Kaabi said the move would save “hundreds of millions of dollars”, without elaborating over what timeframe this would be achieved.

Moody's Investors Service confirmed the ratings of Teekay Corporation ("Teekay", or "Parent"): Corporate Family Rating ("CFR") at B3 and senior unsecured debt rating at Caa1. Concurrently, Moody's upgraded the Speculative Grade Liquidity rating to SGL-3 (adequate), from SGL-4 (weak). The ratings outlook is stable. This action resolves the review for downgrade initiated on 15 April, 2016. Speculative Grade Liquidity rating, upgraded to SGL-3 from SGL-4. The ratings outlook was changed to Stable from Rating Under Review. The B3 CFR considers the company's adequate liquidity, following the execution of re/financing initiatives as of June 29…

The emergence of US liquefied natural gas as a competitive alternative for European and Asian customers, combined with an oversupplied market, should drive more convergence between natural gas prices at major hubs and weaken the link between gas and oil prices, Fitch Ratings says. The first shipment of US liquefied natural gas (LNG) from Cheniere Energy's Sabine Pass facility to Europe arrived in Portugal at the end of April. It is unclear how many more shipments will arrive in Europe in the near term…

Qatar Petroleum (QP) has announced the delivery of the 500th liquefied natural gas (LNG) cargo from QP affiliate Qatar Liquefied Gas Company (2) to the South Hook LNG Terminal at Milford Haven in the United Kingdom. The landmark delivery, on Thursday March 24th, was made on board the Q-Flex LNG vessel Al-Hamla. Mr. Saad Sherida Al-Kaabi, the President and CEO of Qatar Petroleum, described the delivery as “another significant achievement for Qatar’s LNG industry”. Mr. Al-Kaabi said “this milestone reaffirms the importance of Qatari LNG as pillar for the energy industry and the security of global gas supplies. It also highlights Qatar Petroleum’s commitment to the reliable supply of clean energy to its customers around the world”.

Dozens of liquefied natural gas (LNG) tankers parked in and around Qatari export facilities - the world's biggest hub for the fuel - signal that seasonal maintenance is curbing output, industry sources said. Around 25 tankers, all of which have exported LNG from Qatar in recent weeks, are sitting idle in anchorage areas near to the country's loading ports, shipping data on Reuters Eikon shows. Several industry sources said that maintenance on one of the production plants, or trains, at top exporter Qatargas was likely to blame for the logjam of idle vessels. Qatargas did not return requests for comment. "This is the usual maintenance period (for Qatar) which they operate on a rolling basis," one LNG trader said.

Asian spot LNG prices fell this week as top consumer Japan struggled with surplus stock and Chevron's new Gorgon project neared start-up, which will feed into an already oversupplied market. The big worry was about Russia's Sakhalin-2 export plant, hit by a production "glitch" on Jan. 26, a spokesman said, as talk circulated of potential cargo cancellations. Loading disruptions could tighten spot LNG prices for March delivery in Asia, trading lower at $4.90 per million British thermal units (mmBtu), from $5.10 per mmBtu the previous week. Most traders said Sakhalin's technical problems will mean cargo rescheduling but not cancellation. Gail India's purchase of a total of two cargoes from BG Group and Qatar's RasGas in February and March, respectively, signalled further bearishness ahead.

Despite some recent turbulence, the global business environment for liquefied natural gas (LNG) remains strong, and a continuous growth in demand is expected for years to come, said Khalid Sultan R Al Kuwari, Chief Marketing and Shipping Officer of RasGas Company Limited. Speaking at the CWC 16th World LNG Summit in Rome Al Kuwari said that a growth rate of approximately 5% per year from 2015 to 2025 is anticipated. During this period, LNG demand is expected to outpace the overall growth in natural gas demand, he explained. He was presenting his ‘Overview of the LNG Industry in the Year Past, the Present and the Future’ as a member of the Global Strategy Panel at the Summit.

Qatar-based natural gas producer RasGas will not penalise Petronet LNG for lower offtake of the fuel, says a report by PTI. Qatar has agreed to waive $1 billion penalty on India for breaking a long-term LNG contract, and has also consented to change the pricing formula to reflect the slump in global energy rates. After months of intense negotiations, RasGas of Qatar has agreed to not to press for the $1 billion in penalty that Petronet LNG, India’s biggest import of liquefied natural gas (LNG), has to pay for buying only 68 per cent of the contracted 7.5 million tonnes this year. In a filing to the stock exchange, Petronet said that it is in discussion with RasGas over the ‘current issues under their agreement. However, no biding agreement has been executed’ yet.

Nakilat, in association with Qatari LNG producers Qatargas and RasGas Company Limited and engine manufacturer MAN Diesel & Turbo, recently celebrated the success of the ME-GI project involving the retrofit of chartered Q-Max vessel, Rasheeda, with a gas-burning M-Type Electronically Controlled – Gas Injection (ME-GI) System, which has now been successfully commissioned. The Qatari-owned Q-Max vessel is the world’s first low-speed marine diesel engine to be converted to use LNG as a fuel. The retrofit modification meets the current known and future stated global emissions regulations. Nakilat’s Rasheeda built in 2010 is a 266,000 m3 LNG carrier with two MAN B&W S70ME-C HFO-burning engines, which have been converted to the dual-fuel ME-GI concept.

India has deferred taking deliveries of at least 20 shiploads of expensive liquefied natural gas (LNG) from its main supplier Qatar and wants a rate cut matching the 60 per cent fall in international rates, as global gas prices slumped, reports Reuters. Sources said that India has imported 30 per cent less liquefied natural gas (LNG) than it is supposed to under a long-term deal with Qatar as a slide in spot prices has cut demand from local buyers . So far this year Petronet LNG has cut imports by 30 per cent, or up to 24 cargoes, under the deal. Petronet buys 7.5 million tonnes a year of LNG on a long-term from RasGas of Qatar on a 25 year contract, indexed to a moving average of crude oil price.

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural Gas (LNG) carriers from France's Societe Generale. The two entities, Milaha Ras Laffan and Milaha Qatar, are chartered to RasGas under a 25-year time charter contract, with 14 years and 16 years remaining under the time charter agreement respectively, according to a bourse filing. Qatar Shipping Company owned the other 40 percent in each of the two companies prior to the transaction, for which the deal value was not disclosed. Reporting by Nadia Saleem

The Society for Gas and Marine Fuel (SGMF) recently interviewed one of its members, Samir Bailouni of Nakilat (Qatar Gas Transport Co.). Bailouni weights in on Nakilat, LNG, the gas industry, and SGMF membership. Who are you, and what do you do? Services you provide? Products you offer? Nakilat is a Qatari company that ships LNG from Qatar mega projects to the world. Nakilat owns into 61 LNG vessels. We own 100% of 25 of our vessels, (all 14 QMax and 11 QFlex) and the others are 43% owned on aggregate. We also co-own four VLGCs.

Korea Gas Corp. has approached long-term suppliers of liquefied natural gas (LNG) to defer up to 10 autumn cargos to winter, showing it is lumbered with excess supply and pulling out of spot markets, industry sources said. High stocks and weak demand prompted state-run Kogas, the world's biggest corporate buyer of LNG, to offload a number of cargos this summer through a combination of time-swap deals and by deferring deliveries from suppliers. Deferrals were first meant to include only summer cargos…

In the Middle East there has been a level of shipbuilding infrastructure investment unmatched, with companies such as N-KOM in Qatar among the leaders. N-KOM CEO Abu Bakar Mohd Nor shares his insights on growth & opportunity in the Middle East. When you look at the expanse of your operations, what do you count as the primary strength of your company? One of the most important strengths N-KOM has apart from its strong parentage is being strategically located in Qatar, the world’s leading exporter of liquefied natural gas (LNG) and at the heart of the Arabian Gulf…

AVEVA today announced additional speaker, sponsor and agenda details for this year’s AVEVA World Summit. The global event is being held in Berlin, Germany, from 14-16 October. AVEVA customers from across the world’s process, plant, power and marine industries are invited to the Summit to share their experiences and business challenges. Industry giants AMEC and RasGas will open the customer presentations, describing how AVEVA technologies are enabling them to lead the way in the creation and management of complex digital assets. These will be followed by 16 additional case study presentations from leading EPCs, OOs and shipbuilders, including Jacobs, WorleyParsons, Foster Wheeler, Toyo Setal, AREVA, ADMA OPCO, Atkins, Daewoo Shipbuilding & Marine Engineering (DSME) and Namura Shipbuilding.

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets. AVEVA announced the expansion of customer trials of its 3D design software in the cloud, after its debut at the AVEVA World Summit 2014 in Berlin. AVEVA Everything 3D (AVEVA E3D) was demonstrated running in the cloud and generated so much interest that an additional session was added to the already packed agenda for keen delegates to find out more.

Nakilat, Qatargas and RasGas Company Limited will convert a Q-Max vessel as a pilot project making it capable of running on LNG and reducing the ship’s exhaust gas and greenhouse gas emissions. Qatari shipping company Nakilat and Qatari LNG producers Qatargas and RasGas Company Limited have agreed with engine manufacturer MAN Diesel and Turbo to convert a Q-Max vessel to use LNG as an alternative to heavy fuel oil in the main engines. The proactive initiative reinforces Qatar’s commitment toward the environment with plans to convert an existing low-speed diesel LNG carrier to use LNG as fuel thereby reducing the ship’s exhaust gas emissions.