CNPC, Eni Sign LNG Deal
China National Petroleum Corporation (CNPC) and Italy’s Eni signed a cooperation agreement that includes assessing opportunities in the gas and LNG value chain. "CNPC and Eni signed cooperation agreement today in order to cooperate in oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals. The partnership will regard both China and overseas activities," said a statement from the company. The signing took place in Rome at Eni's headquarters during a meeting between the Chairman of CNPC…
Gas to Become World's Primary Energy Source by 2035: DNV GL
Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today. Gas will become the largest single source of energy from 2034. DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency.
Total, KOGAS Extend Cooperation on LNG
Korea Gas Corp, the world’s biggest importer of LNG, has struck deals with French giant Total to extend its reach into the liquefaction sector, reports Reuters. Total has pledged to press forward with investment in LNG despite the downturn in oil and gas prices and has signed a new agreement with South Korean utility company Kogas to explore mutual opportunities across the LNG value chain. The agreement is designed to jointly identify and pursue opportunities to develop the LNG market in Asia and in new importing countries, Total said in a statement.
StatoilHydro Increases Investment in Research
StatoilHydro is investing $413 million in R&D activities in 2008, 20% more than in 2007. The R&D portfolio is divided into: exploration, increased oil recovery, new development solutions, oil and gas value chain, new energy as well as new ideas. Video available includes: headquarter, offshore and onshore facilities shots, as well as new technology projects animations.
ABB Wins Contract from Chinese Shipyard
ABB announced that it will deliver advanced electrical propulsion systems for four LNG carriers under construction by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. The LNG vessels are a joint venture between China National Offshore Oil Corporation (CNOOC), China LNG Shipping (Holdings) Limited (CLNG) and Teekay, and will operate under 20-year time-charter contracts with Methane Services Limited, a wholly-owned subsidiary of BG. LNG carriers are highly sophisticated in terms of technology and are specially designed to transport LNG at a low temperature of minus 162 degrees Celsius.
Maersk Joins the UN Save Food Initiative
Maersk Container Industry has joined the United Nations' Save Food Initiative to help make international food logistics more efficient and reduce global food waste. "Food should not be wasted, but too often it is, and we believe our technologies can help improve the food logistics chain," says Peter K. Nymand, CEO of Maersk Container Industry, MCI. The UN food organization FAO, under which Save Food is organized, estimates that globally up to 50% of fruits and vegetables are lost between farm and fork. Transport and distribution may account for between 5% and 20% of the loss depending on the specific region of the world. Technologies like Star Cool CA and AV+ are used to control a refrigeration container's temperature, humidity, air flow and air composition.
Maersk Helps in UN Food Saving Initiative
Maersk Container Industry has joined the United Nations' SAVE FOOD Initiative to help make international food logistics more efficient. "Food should not be wasted, but too often it is, and we believe our technologies can help improve the food logistics chain," says Peter K. Nymand, CEO of Maersk Container Industry, MCI. The UN food organization FAO, under which SAVE FOOD is organised, estimates that globally up to 50 % of fruits and vegetables are lost between farm and fork. Transport and distribution may account for between 5% and 20% of the loss depending on the specific region of the world. Technologies like Star Cool CA and AV+ are used to control a refrigeration container's temperature, humidity, air flow and air composition.
Two New SEA\LNG Partners
SEA\LNG, which works to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, has welcomed two new partners, each representing key aspects of the LNG maritime value chain: ABS and Keppel Offshore & Marine’s Gas Technology Development. The recent decision by the International Maritime Organization (IMO) Marine Environment Protection Committee (MEPS) to enforce the global 0.5 percent cap on the sulphur content of marine fuel by 2020 has significantly increased interest in LNG as a cost effective, safe and more environmentally friendly fuel. Peter Keller, SEA\LNG Chairman, said, “We are pleased to welcome Keppel Offshore & Marine’s Gas Technology Development and ABS to SEA\LNG.
Gasum, Wärtsilä Join Forces to develop Gas Value Chain
New joint co-operation between Gasum and Wärtsilä aims to develop the utilization and distribution of natural energy gases in marine and land markets. Gasum, the Nordic leader in natural gases and Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets have signed a Joint Co-operation Agreement aimed at developing the utilization and distribution of natural energy gases in marine and land markets. The agreement between Gasum and Wärtsilä was signed August 29, 2016 and will run for several years.
Monjasa Bags Credit Facility from Société Générale
Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million. A statement from the company says credit facility is already operational. It also says has expanded business beyond bunkering activities and further up the value chain into oil trading. "We see the establishment of this new facility as a seal of approval in the robustness of our business model," says Monjasa Group CFO, Kenneth Henriks. Within the last year, Monjasa has expanded beyond bunkering activities and further up the value chain and into oil trading.
Indian FPSO Finance Secured by Malaysian Operator
Bumi Armada Berhad secures syndicated Indian banks term loan facilities of up to US$276.4-million for FPSO 'Armada Sterling'. Malaysia-based international offshore oil and gas services provider, company Bumi Armada Berhad announced today that its jointly controlled entity, Armada D1 Pte. Ltd. (Armada D1) has secured syndicated term loan facilities of up to USD276.4 million (facility) from Allahabad Bank, Bank of Baroda, Bank of India, Indian Bank, Indian Overseas Bank, UCO Bank and Union Bank of India.
LNG on OTC Discussion Plan
LNG is the topic of discussion during an OTC General Session and two technical sessions planned during the Offshore Technology Conference (OTC), 3-6 May, at Reliant Center at Reliant Park in Houston. and Account Manager-ChevronTexaco at Technip Offshore. for next generation carriers, and access to existing gas pipeline infrastructure. use land-based mechanical loading arms that have a restrictive envelope of motion," Strong continued. going back 30 years or more. to 1630 (2 to 4:30 p.m.) on Tuesday, 4 May. presentation focuses on the LNG value chain. Energy, outlines the history and projects the future direction of LNG. upstream operations; LNG processing; transportation, regasification, and distribution. LNG.
HCI Group Takes Over 13 Feeder Containerships
The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU, with an average age of nearly ten years. Deutsche Bank AG will be refinancing part of the portfolio. The parties have agreed not to disclose the purchase price for the vessels. In its role as general manager…
Skangas Aquires Risavika LNG
Skangas, a unit of Gasum, signed a deal with Lyse Group to acquire the Risavika liquefied natural gas (LNG)production facility in Norway. The acquisition of the Risavika production plant will strengthen Skangas’s presence in the downstream of the LNG value chain and secure Skangas’s commercial position in the Norwegian market and North Sea. The Risavika production plant has an annual production capacity of 300,000 tonnes of liquefied natural gas (LNG), and the volume of its tank is 30,000 cbm. The acquisition also includes the LNG marine bunkering facility.
Kalmar's hackathon "CargoHack" in Finland
Kalmar, part of Cargotec, will organise its first hackathon "CargoHack", at its Technology and Competence Centre in Tampere, Finland on 8-10 April 2016. The event will be organised in collaboration with Tieto Corporation and supported by their well-thought-out hackathon concept "CXHack". The event will bring together upcoming, brilliant and agile tech minds, supported by the Kalmar experts, to help solve some of the most challenging issues that terminals are facing today. "The participating teams will be asked to help us "digitalise the terminal".
Global Maritime take Center Stage @ Danish Forum
The second Annual Danish Maritime Forum, scheduled for October 7-8, 2015, in Copenhagen, brings together a wealth of global maritime leaders to address present and long-term challenges for industry. Discussions at this year’s Danish Maritime Forum are influenced by volatility in global markets and uncertainties about future growth and will focus on how the maritime industry can address these challenges in both the short and long term. Other topical issues will include the New Chinese Silk Road, the global energy outlook and the future of ocean governance.
Sinopacific Shipbuilding Group’s “Upwind Sailing Strategy”
“Shipbuilding enterprises must be able to handle any strong waves that come their way, and their ships must be solidly built yet be able to move flexibly. Since 2008, the Chinese shipbuilding industry has experienced many ups and downs. The first was the big increase in shipbuilding steel material prices in 2008, with the prices at some steel producers reaching 10,000 RMB per ton, resulting in price increases of 21% to 30% over four months. The next challenge was the slump of the international shipping market in 2009 as impacted by the global financial crisis…
Demand for Gas to Grow 3%
World demand for natural gas could grow by 3% a year over the next 15 years, with demand for liquefied natural gas (LNG) growing much faster, Executive Director Gas & Power of Shell Linda Cook reported at the SPE Technical Conference in Dallas. This will require massive investment. Innovative technology will be needed to maximise recovery from existing resources and lower the cost of developing new ones. Gaining access to resources will require adding real value for resource holders. With customers depending on gas delivered over increasing distances, demand for LNG - with costs continuing to be driven down - could expand threefold. But this investment must be choreographed along a complex value chain in dynamic markets.
TMC Compressors for FRSU Newbuild
International compressor supplier TMC Compressors (TMC) said it has been awarded a contract by Daewoo Shipbuilding & Marine Engineering (DMSE) to supply a marine compressed air system to a newbuild floating storage and regasification unit (FRSU). TMC’s scope of work includes engineering, manufacturing and supply of a complete compressed air system for the FRSU, which is being built by DSME for BW LNG. Under the contract, TMC will supply 3 x 40 kW frequency controlled control air compressors and 3 x 40 kW service air compressors. The contract value is undisclosed. “Any FRSU is a vital component in the LNG value chain. That is why DMSE and BW LNG have opted for compressors that are built especially for marine application…
Shipbuilding in Nova Scotia
Irving Shipbuilding’s successful C$25 billion bid for the combatant portion of the National Shipbuilding Procurement Strategy (NSPS) illustrates the strength of Nova Scotia shipbuilding industry. Under the program, Irving Shipbuilding, Inc. (ISI) will build six to eight Arctic/Offshore Patrol Ships and 15 Canadian Surface Combatants for the Department of National Defense (DND) over the next 20-30 years. The NSPS contract is in addition to ISI’s contract to build nine mid-shore patrol vessels for the Canadian Coast Guard…
FLEX Acquires LNG Assets from EXMAR
Nicolas Saverys-led Exmar has agreed to integrate its LNG assets and infrastructure with those of John Fredriksen’s Geveran and Flex LNG under a new USD 2.3 billion company – Exmar LNG Ltd. Belgian liquefied natural gas (LNG) carrier owner and operator Exmar and Geveran will pool their LNG assets and infrastructure under Flex LNG, in exchange for new shares in Flex LNG. Following the transaction, Exmar have a stake of 64.6 percent in Flex LNG, while Gerevan sits at 30.7 percent of the shares. The trade is however conditional upon the approval of both governments and third parties.
Big Names Unite to Push LNG as a Marine Fuel
Carnival Corporation & plc, DNV GL, ENGIE, ENN, GE, GTT, Lloyd’s Register, Mitsubishi Corporation, NYK Line, Port of Rotterdam, Qatargas, Shell, TOTE Inc. and Wärtsilä are among firms that are part of a new cross-industry initiative called SEA\LNG, to accelerate the use of liquefied natural gas (LNG) as a marine fuel. Explaining the coalition’s objective, Peter Keller, chairman of SEA\LNG and executive vice president of TOTE Inc., said, “We recognize the need to work closely with key players across the value chain…
Wärtsilä: Integrated LNG Terminal-Power Plant Concept
Over the past couple of decades, natural gas (NG) has become a fuel of choice for power generation. One way of increasing the availability of NG is through the use of liquefied natural gas (LNG). Global LNG trade is expected to grow by 30% in the coming few years. In connection to LNG production growth, receiving and re-gasification capacity must grow as well. A substantial part of this growth will come from the development of small-mid scale LNG receiving and re-gas terminals.