Minister to Open Shipbuilding and Tech Show
Gulf Times reported that the third edition of the International Shipbuilding, Port and Marine Technology Exhibition was opened by Minister of State HE Sheikh Hamad bin Suhaim al-Thani at the . The three-day Ship & Port + Europort Maritime 2008 will feature more than 70 participants from the region and elsewhere, making it one of the largest maritime industry events of the region. The event runs until Wednesday. Source: Gulf Times
$28.5m Boost for Shipbuilding Industry
The booming shipbuilding industry in is set to get 2bn taka ($28.5mn) refinancing fund as the central bank reviews the plan. According to a report on www.gulf-times.com, a Bangladesh Bank (BB) official said yesterday that the bank was keen to start funding the growing shipbuilding industry under the refinancing scheme. (www.gulf-times.com)
Qatargas Ready to Meet Rise in Japan LNG Requirements
According to a report from Gulf Times, Qatargas is willing to extend support to Japanese LNG buyers and people after the massive earthquake and tsunami, Qatargas CEO Sheikh Khalid bin Khalifa al-Thani said. Sheikh Khalid recently met LNG buyers from Japan, which is Qatar’s first customer. (Source: Gulf Times)
Qatargas 4 Signs LNG Timecharter
Qatargas 4 signed a time charter agreement with Nakilat to use eight of the latter’s mega LNG tankers to ferry liquefied natural gas to QG4 customers worldwide, according to a report on www.gulf-times.com. Four of the eight vessels are in the Q-Flex and the others in the Q-Max categories. In February, Nakilat had signed with Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering Company for the construction of four Q-Flex and four Q-Max class vessels. Nakilat’s fleet, which is still under construction, will comprise some 25 LNG carriers scheduled to come into service over the next four years. (Source: www.gulf-times.com)
Qatar to Initiate 45 Contracts for LNG
Qatar will initiate 45 shipbuilding contracts for the largest liquefied natural gas (LNG) ships ever constructed, by Q1, 2007, the Gulf Times reported. Qatargas said the total value of the LNG tankers fleet Qatar planned to procure would exceed $11b. It said Qatar is taking LNG ship design to new level by introducing a 215,000m3 vessel, Q-Flex, and even a larger version, Q–Max, with a 265,000m3 capacity. The dimensions of the Q-Max vessels are approximately that of a modern Very Large Crude Carrier (VLCC). To drive Qatar’s LNG tankers acquisition, a high-level team has been set up. Called Qatar Ship Acquisition Team (QSAT), its mandate includes administration of competitive tenders to pre-qualify ship builders, owners and managers. Source: Gulf Times
Qatar’s LNG Exports to Reach 78 Million Tons
Qatar’s total LNG exports will reach about 78.1 million tons per year by 2011 if the eight heads of agreements (HoAs) are turned into sale and purchase agreements (SPAs), says a recent Gulf Times report. The SPAs Qatargas and RasGas signed with buyers worldwide would peak in 2011 with exports totaling 34.5 million tons annually. Additionally, the eight HOAs signed by Qatargas and RasGas could push the exports by another 43.6 million ton by 2011, according to the report. The SPAs are with Kogas (South Korea), Petronet (India), Edison Gas (Italy), Gas Natural (Spain) BP and Endesa Generacion (Spain). The HOAs are with ExxonMobil, Eni (Italy), ConocoPhillips, Gas Natural, Florida Power and Light and Fluxys LNG. Source: The Gulf Times
Kuwait: $44bn to ‘Upgrade’ Oil Industry
Kuwait has earmarked more than $44 billion over the next 15 years to upgrade its oil industry and boost output to 4 million bpd, according to a report on www.gulf-times.com. The country currently produces about 2.7 million bpd. The money will be spent on mega projects such as a large refinery and upstream projects to raise output, in addition to a number of large petrochemicals plants, he said. A number of projects are also in the pipeline to raise production at oilfields in south and southeast Kuwait, Oun said. State-owned Kuwait Oil Tanker Company this year signed contracts to build seven oil tankers of different sizes to modernize its fleet at cost of more than $600 million. – (Source: www.gulf-times.com)
Finland to Develop LNG Import Terminal
On a visit to Qatar, Finland's PM conferred with government officials about the future import of LNG to serve neighbouring countries. According to the 'Gulf Times' Finnish company Gasum plans to build an LNG terminal that will serve as a distribution hub to other European countries and for that reason, as well as others of common interest, the Finnish Prime Minister Jyrki Katainen visited Doha to discuss the proposal with the Qatari side. Katainen described his meeting with HE the Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor al-Thani as fruitful. He noted that the talks focused on developments in the Arab region particularly in Syria. They also discussed developments in Iran and other countries in the region.
Samsung Records LNG Order
Qatar Gas transport Company (Nakilat) has placed order for another Q-Max LNG carrier, the largest liquefied natural gas tanker in operation, according to a report on www.gulf-times.com. Nakilat signed the shipbuilding contract for Q-Max, with a capacity of 265,000 metric tonnes, with Samsung Heavy Industries, South Korea. With the vessel joining Nakilat service, the company will have a fleet strength will rise to 17. A Q-Max vessel costs about $300mn. In addition to the fully-owned 17 LNG carriers, Nakilat holds stakes between 30% and 60% in another 28 LNG carriers either delivered or on order to service various Qatari LNG projects. The ship will be powered by twin, slow speed diesel engines and will have full-scale on-board re-liquefaction plants which maximize LNG deliveries.
Abu Dhabi Shipbuilding Plans Commercial Yard
Abu Dhabi Ship Building Co, may set up a new shipyard for commercial vessels to tap demand from the region’s booming offshore oil and gas industry, an official said. The Abu Dhabi-quoted firm, also known as ADSB, will decide next year whether to set up a separate commercial shipyard based in the Taweelah Port & Industrial Zone in Abu Dhabi. Arabain Gulf countries that produce almost a quarter of the world’s oil are boosting investment in offshore production driving up demand for rigs and service vessels in the region. The shipbuilder is hoping to capitalize on a booming offshore industry in Abu Dhabi, owner of the world’s second-largest offshore oil field in the Gulf. (Source: http://www.gulf-times.com)
LNG Vessel Named Maersk Qatar
The naming ceremony of the ship owned by a consortium of A.P. Moller and Qatar Shipping was held at Samsung Shipyard in South Korea recently. Maersk Qatar has an LNG cargo carrying capacity of 145,000m3 and will enter RasGas service by the month-end. Maersk Ras Laffan, the first A.P. Moller and Q-Ship vessel was delivered to RasGas in 2004. Maersk Qatar is the final ship in the series to be delivered to RasGas. RasGas will charter these vessels for a firm period of 25 years to deliver LNG from the existing and future facilities at Ras Laffan Industrial City. (Source: Gulf Times)
Halul to Purchase Four Offshore Vessels
Halul Offshore Services (HOSC) will buy four new safety standby vessels at a cost of about $16m and signed a contract with a Singaporean shipbuilder Pacific Ocean Engineering (POE). The contract for the vessels, expected to be built in 16 months at the POE’s shipyard in China, was signed by HOSC chairman Sheikh Hamad bin Suhaim al-Thani and POE managing director Raymond Quah. The vessels, designed to provide safety cover to offshore installations for protection and rescue operations, are equipped with fire fighting pumps, life saving gadgets and environment monitoring systems for checking poisonous hydrogen sulphide gas and flammable gases. Each vessel will have a fast rescue craft capable of being fast deployed for rescue of survivors from the sea.
Al Bidda Named Best Ship
Qatargas has chosen its LNG carrier Al Bidda for the Best Ship Award, which it has instituted to assess its fleet of ten vessels, which are on a long-term charter for supply of gas to Japan. Al Bidda is owned by Mitsui OSK Line and its captain H Yoshimara received the award from Qatargas head of shipping operations Anthony Browning. Qatargas said the inspection format was thorough and intensive in order to establish whether a LNG vessel was of a sufficiently high standard to be invited to load at the Qatargas LNG Berth. The vessels were tested for their compliance with port, terminal and international regulations concerned, health and safety, on board innovations to promote safety and environmental awareness as well as quality control. (Source: gulf-times.com)
Qatargas Gains Two New LNG Vessels
Two new LNG vessels that will join the Qatargas fleet have been handed over to the owners’ consortium by Daewoo Shipbuilding & Marine Engineering Ltd (DSME) at its ship building yard in the Geoje Island in South Korea. The vessels Al Ruwais and Al Safliya will now proceed with bunkering and leave South Korea in the next few days. The first cargo will be delivered to Japan using one of these vessels before the year end. Two more vessels are expected to be delivered from other South Korean yards this month. Qatargas has chartered the ships from the vessel owners under a consortium of Nakilat, Pronav and some German investment companies. [Source: http://www.gulf-times.com]
Maritime Defense Expo Opens in Doha
The Heir Apparent and Deputy Commander-in-Chief of the Qatar Armed Forces Sheikh Tamim bin Hamad al-Thani inaugurated the third Doha International Maritime Defence Exhibition and Conference (Dimdex 2012) at the Qatar National Convention Centre, reports the Gulf Times newspaper. The event, which is the only comprehensive maritime defence exhibition and conference in the region, is set to advance knowledge in maritime issues and offer an opportunity for exhibitors to highlight the latest advances in naval technology. Dimdex 2012 and the Middle East Naval Commanders Conference (MENC) brings together the region’s top naval commanders, thinkers and academics who discuss the current state of maritime security.
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…
RasGas LNG Fleet Grows
RasGas has expanded its LNG fleet with the recent launch of two vessels at Daewoo’s shipbuilding yard in South Korea, GulfTimes reports. With the addition of Al Marrouna and Al Areesh, RasGas’ LNG fleet strength will go up to 10. The two ships, owned by Teekay Nakilat Corporation, a consortium between Teekay Shipping and Nakilat, will have a cargo carrying capacity of 151,700m3 each. They will be on a long-term time charter with RasGas. Al Marrouna and Al Areesh will be the largest RasGas ships delivered to date. The ships will ferry LNG to the European and Far Eastern markets. Al Marrouna will be delivered to RasGas on October 31 followed by Al Areesh on January 2. Both ships will be operated by Teekay Shipping.
Second Commercial Vessel at New Hamad Port
Hamad Port welcomed its second commercial carrying the second shipment of cranes which includes four Ship to Shore (STS) Cranes and six Rubber Tyred Gantry (RTG) Cranes, says a report in the Gulf Times. This, along with other key developments, is expected to help pave the way for the launch of “early operations” for certain types of vessels before the end of the current year, the statement noted. Hamad Port had welcomed the first commercial vessel carrying the first shipment of cranes on July 19. The ship, heavy load carrier Zhen Hua 10, had arrived directly from China.
Nakilat to Invest $11.5b in Fleet Expansion
Qatar Gas Transport Company (Nakilat) is investing $11.5b in its bid to become the largest owner of LNG/LPG tankers fleet by the end of the decade. The plan is to acquire 60 ships by 2010 to ferry liquefied natural gas and liquefied petroleum gas worldwide, Nakilat vice-chairman Faisal M Al-Suwaidi is quoted to have said in a report in the Gulf Times. While 46 tankers are meant for LNG transportation, the rest will be used for liquefied petroleum gas supply. As many as 25 LNG tankers will be of the Q-Flex category, while 21 liquefied natural gas tankers will be Q-Max. Q-Flex vessels have a cargo capacity ranging between 210,000cu m and 217,000cu m.
Qatargas Set for Expansion
Qatargas expanded its LNG production capabilities with the groundbreaking of Qatargas 3 (QG3) and Qatargas 4 (QG4) at Ras Laffan. Both QG3 and QG4 will each have a capacity of 7.8mn tons a year. QG3 is an integrated project jointly owned by Qatar Petroleum (68.5%), ConocoPhillips (30%) and Mitsui (1.5%) and will comprise upstream gas production facilities with a capacity to produce 1.4bn cu ft of natural gas a day and will include an average 70,000 barrels of LPG per day and condensate. QG4 will be a 70:30 venture between Qatar Petroleum and Shell. It will also comprise upstream gas production facilities to produce about 1.4bn cu ft of natural gas per day including an average 70,000bpd of LPG and condensate.
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.
Shell Trading, Harvey Gulf ink LNG Transport Contract
Harvey Gulf International Marine’s CEO Shane Guidry announced today the formation of new marine transportation company, Quality Liquefied Natural Gas Transport, LLC (“Q-LNG”), owned 70% by Shane Guidry and 30% by Harvey Gulf. Q-LNG will own and operate assets providing marine transportation of liquefied natural gas (“LNG”), a critical component of U.S. LNG infrastructure, commencing with a long-term contract with Shell Trading (U.S.) Company (“Shell”) to deliver LNG as a fuel source to various ports in Florida and the Caribbean. Mr.
Talos, Stone Energy Plan $2.5 Bln Merger
Talos Energy LLC and Stone Energy Corp, two U.S. exploration and production companies focused on the Gulf of Mexico, announced on Tuesday plans to merge and create a new company valued around $2.5 billion including debt, sending Stone's shares down nearly 13 percent. "The idea of a reverse merger works very well for us, as we get a lot of talented people into the company and also use a structure which gets us to the public equity markets", said Timothy Duncan, chief executive of Talos, who will retain the title under the combined company, to be named Talos Energy Inc. Stone shares will be exchanged for Talos stock on a one-for-one basis, while Talos' existing stockholders will be issued 34.2 million shares to give them 63 percent of the combined company, according to a statement.