US Signs Highest LNG Export Contract
US signed highest volume of global long-term liquefied natural gas (LNG) export contracts in 2019, accounting for around a 67% of global share. Abundant shale gas production in the US has enabled the country to export natural gas as LNG. to global markets. According to GlobalData, the US has signed five long-term contracts in 2019 for the export of 22.3 million tonnes per annum (mtpa) of LNG. Of these, the contract signed between Golden Pass Products and Ocean LNG Limited had…
Asian LPG Market to Cross $109Bln by 2024
The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as increasing demand for LPG as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil.Increasing demand for LPG used to run vehicles (Autogas) is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation…
US Eyes India for Quantum Leap in LPG Exports
Trump administration trade tariffs on China will need to cease and India will have to rely more on U.S. LPG supplies for the world to clear the quantum leap expected for U.S. LPG exports, says a study.The study of global seaborne LPG trade flows using Kpler LPG cargo tracking data questions the global LPG market’s ability to grow fast enough to handle the tsunami wave of new LPG production expected from the United States in 2020 and 2021."The U.S. has become the largest LPG exporter in the world and now exports more LPG than the U.A.E., Qatar and Saudi Arabia combined.
Gazprom Lead Oil and Gas Growth Worldwide
Russian giant Gazprom saw the most production growth among world’s exploration and production (E&P) companies during the five-year span from 2014 through 2018.It’s followed by Chinese player PetroChina Company Limited and U.S. shale company EQT Corporation ranking second and third, respectively, said energy research firm Rystad Energy.Onshore resources – whether conventional or unconventional – are a major driver of growth, it said.“Gazprom, the clear leader in production growth…
Cheap Gas Killing US Coal -Rystad
A new study revealed that coal power is being replaced by cleaner energy sources in the US – primarily due to an abundance of cheap natural gas.According to Rystad Energy, new renewable energy capacity from solar and wind is on the rise in the US, and April 2019 marked the first month when more electricity was generated in the country from renewable sources than from coal.However, the growing renewable energy sector alone is not wholly responsible for the on-going retirement of…
Report: The U.S. Marine Market
A ‘work in progress,’ the North American brown water, shallow draft sectors have experienced a tumultuous year of evolution, changing market conditions, a rapidly shifting regulatory environment and new opportunities. Anything but boring; and within the pages of Maritime Reporter’ & Engineering News’ Annual Yearbook, Joseph Keefe, editor of sister-publication MarineNews, takes a deep dive into the issues driving the domestic waterfront.Workboat EmissionsMore than one year ago, Volkswagon learned the ultimate (and painful) meaning of the iconic U.S.
Exmar Commissions Tango FLNG
Belgian owner and operator of gas carriers Exmar has completed the commissioning of the 16,100 cbm Tango floating liquefaction unit (FLNG).The performance acceptance tests has been successful, the first cargo has been offloaded and will be exported out of Argentina, said a release from the provider of specialized floating assets.With this first shipment the start-up of the Tango FLNG is accomplished in a record time following the contract signing in November 2018 and delivery acceptance of the unit in Bahia Blanca in February 2019.
Natural Gas Consumption Up 10% in China
According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection policies to further prevent and control atmospheric pollution and replace coal with natural gas in key areas…
Natural Gas Liquid Market to Cross 14 mbl/day by 2025
Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights.Accelerating funding’s toward chemical industry along with the manufacturing of high value-added petrochemicals will augment the industry growth.In addition, up-surge in investments toward automotive sector coupled with expansion of various industrial base including manufacturing…
Top 10 Ships of 2018: #1 - Diamond Gas Orchid
The first Sayaringo STaGE type LNG carrierMitsubishi Shipbuilding Co., Ltd. (MHIMSB) delivered the first Sayaringo STaGE type liquefied natural gas (LNG) carrier, named Diamond Gas Orchid in June, 2018. The Sayaringo STaGE, which was developed based on MHIMSB's cutting-edge technology, has a continuous cover over the cargo tanks, a feature inherited from its predecessor the “Sayaendo”, and while keeping this merit, incorporates apple-shaped MOSS-type cargo tanks and a twin-shaft hybrid propulsion system “STaGE” plant, enhancing economic efficiency, environment friendliness, and versatility.
Gazprom to Review Shale Gas and LNG Sectors
Russian energy giant Gazprom revealed that there is still a high level of uncertainty in the long-term forecasts for U.S. shale gas production. It also said that the number of LNG-consuming countries would grow in the long term.Gazprom's Board of Directors took note of the information about the prospects of the shale gas and liquefied natural gas (LNG) sectors around the world, as well as the opportunities and threats facing the Company.The oil and gas company focused on the business of extraction…
2018 Maritime Risk Symposium – Energy and Maritime Risk
Energy.It seems that energy touches every aspect of our lives from heating our homes to ensuring that fresh produce is available at grocery stores. It powers our cars and allows industry to move products around the world. The connection between energy and risk to the maritime environment has been a growing area of discussion, research and analysis. The United Kingdom’s Royal Navy, within its Joint Doctrine Publication (JDOP 0-10) 5th edition UK Maritime Power, captured this issue superbly: “Fossil fuels and minerals are an important resource in the maritime environment. New deposits of oil and gas, as well as mineral wealth, are discovered under the seabed each year, and improvements in technology will facilitate future exploitation.
Build It and They Will Buy: The New World of LNG Canada
The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian concept of "she'll be right, mate."The LNG Canada project was given the green light on Tuesday by Royal Dutch Shell, which is leading the $31 billion venture along with partners Petronas, Mitsubishi, PetroChina and Korea Gas.What makes the first export plant on Canada's west coast different…
Excelerate, TGS Join for Argentina LNG Export Study
Excelerate Energy and Transportadora de Gas del Sur (TGS) have provisionally agreed to jointly assess the viability of an LNG liquefaction and export project at Bahia Blanca in Argentina.Argentina currently imports liquefied natural gas (LNG) through two floating import terminals, particularly during the country's peak winter consumption.The successful development of Argentina's shale gas reserves resulted in a potential excess of natural gas during the summer months. The project…
Interview: Mark Knoy, President and CEO, ACBL
American Commercial Barge Line (ACBL) named Mark K. Knoy as its president and chief executive officer in August 2011. Prior to joining ACBL, he was vice president of American Electric Power’s (AEP) Fuel, Emissions and Logistics Group and president of AEP River Operations, having joined AEP with its 2001 purchase of MEMCO Barge Line. From 1984 to 1994, he was owner/operator of The Mark Twain Towing Company and Delmar Marine, Inc., Pekin, Illinois. He began his career in 1973 working aboard towboats on the inland waterways as a deck hand and then as a captain.
Dual-Fuel Engine Hits 10,000 Hours on Ethane
Hartmann Reederei, the German ship-management company, has confirmed that two of its vessels – the 36,000 m3 LEG (liquefied ethylene gas) carriers Gaschem Beluga and Gaschem Orca – powered by the world’s first ME-GIE (-Gas Injection Ethane) two-stroke engines have collectively accumulated 10,000 hours of operations since entering operation at the end of 2017.The carriers were ordered by Hartmann and Ocean Yield of Norway, and constructed at Sinopacific Offshore Engineering (SOE)…
New LNG Carrier for NYK, KEPCO Named LNG Sakura
A new liquefied natural gas (LNG) carrier jointly owned by NYK and Kansai Electric Power Co. Inc. (KEPCO) was officially named LNG Sakura during a ceremony at the Sakaide shipyard of Kawasaki Heavy Industries Ltd. LNG Sakura is the first vessel to be co-owned between NYK (30 percent) and KEPCO (70 percent), and after construction is completed, it will transport LNG sourced from shale gas fields in North America and various other locations, in a 20-year charter agreement. The new ship features a moss-type tank, the largest in the industry, having a capacity of about 177,000 m3, enabling highly efficient transport. In addition, the ship…
Statoil Acquires 25% Stake in Brazil's Roncador
Statoil ASA and Petróleo Brasileiro S.A. (Petrobras) have agreed that Statoil will acquire a 25 percent interest in Roncador, a large oil field in the Campos Basin in Brazil. The transaction nearly triples Statoil’s production in Brazil, with attractive break-evens and potential for additional value creation for both parties through the application of Statoil’s expertise in improved oil recovery (IOR). The total consideration comprises an initial payment of $2.35 billion, plus additional contingent payments of up to $550 million.
INEOS to Ship US Ethane to China in 2019
U.K. chemicals firm INEOS said it has entered a long-term supply agreement with Singapore-based SP Chemicals to ship ethane from U.S. shale gas to China for the first time starting in 2019. “This is another world first for INEOS after importing shale gas to Europe in 2015,” said David Thompson, CEO of INEOS Trading and Shipping. “By bringing in U.S. The deal involves the construction of a 95,000cbm capacity Very Large Ethane Carrier (VLEC), which is expected to be the world’s largest ethane carrier upon its delivery in 2019. The VLEC will be built under the management of the JACCAR Group.
LNG Bunkering to Grow at CAGR of 62.5% to reach USD 24.684 bln in 2023
The global LNG bunkering market is expected to witness a CAGR of 62.5%, and is projected to reach USD 24684.7 million by 2023, said a report by Energias Market Research. The key factors driving the growth of LNG bunkering market are increase in LNG demand in order to reduce the carbon footprint in the shipping industry stringent international emission policy, the best cost-effective alternative fuel and significant rise in government initiatives supporting LNG adoption. LNG Bunkering is the practice of providing liquefied natural gas fuel to a ship for its own consumption.
KOGAS to Receive first Cheniere LNG Cargo
KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract. Korea Gas Corp (KOGAS) will early next month receive its first liquefied natural gas (LNG) cargo under a long-term supply deal with U.S. exporter Cheniere Energy, two sources at the South Korean company said on Friday. The 74,000-tonne LNG cargo was loaded from Cheniere's Sabine Pass export terminal in Louisiana and is scheduled to arrive at the port of Tongyeong, South Korea on July 2, one of the sources said. Both sources declined to be identified.
US to be World's Biggest LNG Exporter by 2022
The International Energy Agency predicted that the US will become the world's No. 2 exporter of liquefied natural gas by the end of 2022 with a capacity of 3.7 trillion cubic feet per year, second only to Australia. The U.S. is already the world's largest producer of natural gas. The agency says more than half of the natural gas produced in the US will be converted to LNG for export. A Reuters report said that global LNG export capacity would reach 650 billion cubic meters (bcm) a year by the end of 2022, compared to less than 452 bcm a year in 2016.
US Expects East Coast LNG in 4Q 2017
Dominion Energy has announced that the 750 million cubic feet per day (MMcf/d) Cove Point Liquefaction Project is in its final stages of construction, confirming with EIA that it is 95% complete as of August 2 and expected to be in-service in the fourth quarter of 2017. Located on the Chesapeake Bay in Lusby, Maryland, it will be the second large-scale liquefaction export facility to begin operations in the Lower 48 states and the first on the East Coast, said a press statement from U.S. Energy Information Administration.