Mitsubishi Shipbuilding Holds Christening for Next-Gen LNG Carrier
Mitsubishi Shipbuilding held the christening ceremony for a next-generation LNG (liquefied natural gas) carrier under construction for a joint venture of Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK Line). The ship, named "Diamond Gas Rose", is the second "Sayaringo STaGE" type vessel, Mitsubishi Shipbuilding's newest carrier that achieves significant improvements in both LNG carrying capacity and fuel performance through adoption of a more efficient hull structure and an innovative hybrid propulsion system.
New LNG Import Terminal Planned at Port Kembla
A consortium including Japan's JERA Co and Marubeni Corp aiming to ship liquefied natural gas (LNG) to Australia's east coast has chosen a site south of Sydney at Port Kembla for an import terminal, it said on Monday.The project will allow access to a new gas supply for local industries in New South Wales state by 2020, the consortium, Australian Industrial Energy (AIE), said in a statement.AIE also includes iron ore magnate Andrew Forrest's Squadron Energy. Top global LNG buyer…
Freeport LNG Delays Start of Texas Export Terminal
Freeport LNG, a privately held U.S. liquefied natural gas company, said on Thursday it pushed back the projected start date for its $13 billion export terminal under construction in Texas by about nine months to around Sept. 1, 2019.Freeport LNG now expects the first liquefaction train to enter service around Sept. 1, 2019, with the second and third trains seen in service around Jan. 1 and May 1, 2020, respectively, said Zdenek Gerych, a spokesman at Freeport.Previously, the three…
Wheatstone LNG Facility Exports First Cargo to Japan
Australia's Wheatstone liquefied natural gas (LNG) project, after starting production earlier this month, has shipped its first export cargo to a buyer in Japan, majority owner and operator Chevron Corp said on Tuesday. Wheatstone is the sixth out of eight projects in a $200 billion Australian LNG construction boom that is now in its final stretch. The two remaining project due to for start-up are Royal Dutch Shell's Prelude floating LNG project and Ichthys, led by Japan's Inpex.
Top LNG Buyers Form Alliance to Push for Flexible Contracts
The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Japan, China and South Korea are the world's biggest LNG importers, accounting for about 55 percent of global purchases, according to data from energy consultancy Wood Mackenzie. The countries' biggest respective buyers are joining together to extract concessions from producers that would give them supply flexibility such as having the right to re-sell imports to third parties…
JERA Imports Japan's First Liquefied Shale Gas Cargo from U.S.
Japan's JERA Co said on Friday it imported the country's first liquefied shale gas cargo from the United States as part of efforts to diversify its supply. This also marks Japan's first import of liquefied natural gas (LNG) produced in the contiguous United States. Japan previously had imported U.S. LNG only from Alaska. JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power, said the vessel Oak Spirit, which passed through the Panama Canal, arrived at Chubu Electric's Joetsu LNG terminal facing the Sea of Japan on Friday. JERA is the world's biggest importer of LNG.
JERA Buys First-ever U.S. LNG Cargo
Japan's JERA Co, the world's biggest importer of liquefied natural gas (LNG), on Thursday said it made its first-ever purchase of LNG from the lower 48 U.S. states, as part of its goal to diversify supplies. JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power, said it bought the LNG from Cheniere Marketing International LLP, but did not give pricing details. Loading of shale gas produced at the Sabine Pass LNG Terminal in Louisiana onto LNG vessel Oak Spirit was completed on Wednesday, it added.
Gorgon LNG Cargo Arrives Japan
Tokyo Gas Co has received its first liquefied natural gas (LNG) cargo from Chevron Corp's $54 billion Gorgon export facility in Australia, reports Reuters. The "Energy Confidence" vessel carrying about 70,000 tonnes of LNG arrived on Saturday at the company's Ohgishima LNG Terminal in Yokohama, near Tokyo, a company spokesman said on Monday. Chubu Electric received Japan's first cargo from the project around April, a Chubu spokesman said. Tokyo Gas signed a contract in 2009 to buy 1.1 million tonnes of LNG annually from the project for 25 years on a free-on-board (FOB) basis.
World’s Biggest LNG Buyer Becomes Seller
EDF Trading, a wholly-owned subsidiary of French power giant EDF, has signed an LNG sales and purchase agreement with Japanese LNG aggregator Jera Co Inc, one of the world’s largest buyers of liquefied natural gas. Jera, a joint venture between Tokyo Electric Power Co. and Chubu Electric Power Co., will sell as much as 1.5 million metric tons of LNG between June 2018 and December 2020. According to Bloomberg, Jera’s debut as a seller to Europe underscores how the oversupplied market has challenged traditional exporters…
Anadarko in Talks with Jera for Mozambique LNG Deal
Anadarko Petroleum is in talks with newly formed Japanese joint-venture vehicle Jera, set to become the world's biggest buyer of liquefied natural gas (LNG), to sell long-term supply from its Mozambique export scheme. The U.S. oil major's gas finds in Area 1 of Mozambique's Rovuma Basin will feed the initial 10 million tonnes per annum (mtpa), $23 billion LNG export project, which is due to start by 2021. Jera is a joint venture between Tokyo Electric Power Co (Tepco) and Chubu Electric, Japan's biggest and third-biggest utilities, set up in April with an aim to become the cheapest LNG buyer in East Asia. Anadarko and Jera are in talks over a long-term gas import deal, three industry sources said.
MOL’s Coal Carrier for Tokyo Electric Power
Mitsui O.S.K. Lines, Ltd. today announced that the coal carrier Hakutaka, which will serve Tokyo Electric Power Company, Inc. was delivered at Mizushima Shipyard of Sanoyas Shipbuilding Corporation on March 26, 2015. The vessel jointly developed by Sanoyas Shipyard and MOL, is a state-of-the-art coal carrier with its wide-beam/shallow-draft shape and various safety and energy-saving specifications. It is the 3rd vessel, coming after theAkatsuki, which was delivered in February 2014, and the Soma Maru, which was delivered in July 2014.
Tepco, Chubu Buying 6 LNG cargoes from Vitol
Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender, three traders said on Friday. "They are waiting for the government to confirm," one of the traders said. Vitol and GDF Suez are expected to supply three cargoes each, the traders said. This is the first time the Japanese utilities have jointly tendered for LNG, aiming to reduce procurement costs for two of the world's biggest LNG buyers. "It's unusual in Japan for two big companies to approach jointly a tender, usually what they do is they don't even tender, they just talk to their suppliers," a trader said.
Europe Stockpiling Low Cost, Surplus LNG
Demand from top Asian buyers drops sharply; Asian, European gas price spreads converge. Europe set to becoming dumping ground for LNG. Europe is set to become a dumping ground for the world's unwanted gas supplies this winter as Asian demand for sea-borne shipments fizzles out, leaving dealers to seek out willing buyers at rock bottom prices. Caught in a sharp downward spiral, Asian spot prices for liquefied natural gas (LNG) have more than halved this year as top Japanese and South Korean buyers, sitting on high stocks, scale back purchases while falling oil prices add to woes. Lower prices have gouged producer profits and hollowed out Asian markets at least until February, with Europe now the destination of choice for uncommitted supply, some traders and analysts say.
IGCC System for Tokyo Electric Power
A consortium led by Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has received an order from Tokyo Electric Power Company, Incorporated (TEPCO) for design work for a large-scale integrated coal gasification combined-cycle (IGCC) system to be adopted for a project to create the world's most advanced coal-fired thermal power plants. The project plans call for the construction of two 500-megawatt (MW) class IGCC plants in Fukushima Prefecture to help promote local industrial recovery. Following receipt of the order, the consortium, which also includes Mitsubishi Heavy Industries, Ltd.
Fukushima Fallout: Resentment Grows
Like many of her neighbours, Satomi Inokoshi worries that her gritty hometown is being spoiled by the newcomers and the money that have rolled into Iwaki since the Fukushima nuclear disaster almost three and a half years ago. "Iwaki is changing - and not for the good," said Inokoshi, 55, who echoes a sentiment widely heard in this town of almost 300,000 where the economic boom that followed the worst nuclear accident since Chernobyl has brought its own disruption. Property prices in Iwaki…
Exxon's New Guinea LNG Plant: 4 August Cargoes
ExxonMobil's Papua New Guinea liquefied natural gas (LNG) export plant is offering to sell four cargoes loading in August to long-term buyers as well as Asian end-users, two traders said. The rapid export rate from the new plant, which was completed ahead of schedule, has helped push global LNG prices lower as major Japanese buyers retreat from spot markets. The plant's main long-term buyers are Japan's Tokyo Electric Power, Osaka Gas and Taiwan's CPC, but low demand across Asia may have led Exxon to broaden its offers. Reporting by Oleg Vukmanovic
First LNG Cargo Loaded from Exxon PNG Project
LNG carrier Spirit of Hela, which is jointly owned by MOL and Itochu Corporation, has left Papua New Guinea carrying the first LNG cargo from the ExxonMobil-led PNG LNG Project, Mitsui O.S.K. Lines, Ltd. announced. The PNG LNG Project is Papua New Guinea’s first ever LNG project, and it will provide long-term supply of gas to customers in Japan and other countries. The vessel loaded LNG at the Project’s Marine Terminal, which is located near Port Moresby, the capital of Papua New Guinea. The first cargo will be delivered to Tokyo Electric Power Company. On May 14, Papua New Guinea’s Prime Minister Peter O’Neill visited the vessel for a tour.
First PNG LNG Cargo Shipped by Exxon Mobil
Exxon Mobil Corporatio says it has shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG (Papua New Guinea) LNG project ahead of schedule. PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan. Production from the first train started in April, 2014, and production from the second train has also started as additional wells came online.
LNG Spot Prices Drop; Demand Dips from Brazil, Japan
Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals. Prices for April delivery dropped to around $18.10 per million British thermal units (mmBtu) from $19.60 per mmBtu last week. Petrobras, a major Atlantic Basin LNG buyer in recent weeks, withdrew from the global spot market after rainfall boosted Brazil's hydroelectric reserves and cut demand for gas-fired power generation, traders said. Japanese utilities, meanwhile, increased deliveries of lower-cost LNG under long-term, oil-linked deals. "Prices would rebound quickly if Petrobras had to come back into the market," a trade source said in light of finely balanced supply-demand.
MHI Unveil 'Super Giraffe Robot'
The newly developed remote control Giraffe Robot can reach up to 8 meters to control valves in hostile environments. Mitsubishi Heavy Industries (MHI) has developed a remote-controlled robot, dubbed the 'MHI-Super Giraffe (MARS-C), which is capable of working at heights up to 8 meters (m) and moving freely in areas inaccessible by humans in, for example, highly radioactive environments. By changing the robot arm and/or tool attached at the arm end, the MARS-C can perform various tasks including valve opening/closing and radioactive decontamination work.
Floating Windmills in Japan Help Wind Down Nuclear Power
Japan is preparing to bolt turbines onto barges and build the world’s largest commercial power plant using floating windmills, tackling the engineering challenges of an unproven technology to cut its reliance on atomic energy. Marubeni Corp., Mitsubishi Heavy Industries Ltd. and Nippon Steel Corp. are among developers erecting a 16-megawatt pilot plant off the coast of Fukushima, site of the nuclear accident which pushed the government to pursue cleaner energy. The project may be expanded to 1,000 megawatts, the trade ministry said, larger than any wind farm fixed to the seabed or on land. “Japan is surrounded by deep oceans, and this poses challenges to offshore wind turbines attached to the bottom of the sea…
Shipping Disruptions: Japan Battles Back
Japan is waging a public relations war as it struggles to control the nuclear contamination threat at home while playing down the concerns of consumers abroad. Fears of tainted goods from the battered nation are affecting trade flows, with regional weather distributing radiation particles and hysteria across Asia. In South Korea, panic over radioactive rain in March saw schools shut down en masse, despite the minute level of radiation posing no known health risks. In Hong Kong in April…
Tokyo Electric’s LNG Purchases Rise
According to a report from Bloomberg, Tokyo Electric Power Co. purchased a record amount of liquefied natural gas in March after two of the utility’s nuclear power plants were crippled by an earthquake and tsunami. The utility, known as Tepco, bought 2.14 million metric tons of LNG in March, up 9.9 percent from a year earlier. (Source: Bloomberg)