In this issue

 

Golar LNG Partners has signed a timecharter contract covering up to nine years with a major international oil and gas company for one of its steam powered LNGCs - ‘Golar Grand’.

GasLog Partners is to purchase 100% of the shares in the entity that owns and charters ‘GasLog Greece’ from GasLog Ltd.

Thursday, 30 March 2017

During the second half of last year, in July and August, the market gradually tightened in line with an increase in Asian LNG prices, BRS said in its annual review. 

Thursday, 30 March 2017

JERA, KOGAS and CNOOC Gas and Power Trading and Marketing are to work more closely together, following the signing of a MoU last week. 

Cash strapped shipbuilder Daewoo Shipbuild4ing & Marine Engineering (DSME) reportedly said last week that its future orderbook will be mainly made up of LNGCs and other specialised vessels. 

Intercontinental Exchange (ICE) is due to begin trading a US LNG futures contract in May. 

Nakilat held its bi-annual fleet officers meeting (FOM) between 27th and 28th March, 2017 in Doha. 

Ireland’s €500 mill Shannon LNG import terminal is reportedly back on track amid Brexit energy concerns, according to a recent report by Dublin-based Irish Examiner.

Thursday, 30 March 2017

In November, 2016, PAO Sovcomflot (SCF) celebrated its 10th anniversary as an independent operator of gas carriers, as the first LNGC joined its fleet on 7th November, 2006. 

Thursday, 30 March 2017

Tanker and LNGC owner Tsakos Energy Navigation (TEN) generated net income of $11.9 mill in the fourth quarter of 2016. 

Thursday, 30 March 2017

Law firm Ince & Co has advised Golar LNG on its recent $187 mill sale-and-leaseback deal with COSCO Shipping Development for the 2014-built, 160,000 cu m ‘Golar Crystal’. 

GTT has received an order from Hyundai Heavy Industries to fit a new LNGC with a Mark III Flex containment system. 

Paris-based International Group of LNG Importers (GIIGNL) has published an updated version of its LNG Custody Transfer Handbook. 

ABB will supply the power and electric propulsion system for a new FSRU for BW Group. 

News Nudges

HHI uses glycol for FSRUs

Hyundai Heavy Industries (HHI) has demonstrated the installation of LNG regasification system using glycol on a 170,000 cu m FSRU. The demonstration, attended by shipowers and major class societies, was held at HHI’s Ulsan shipyard. As the glycol regasification process is salt free, unlike systems that use seawater, it can minimise equipment corrosion, including heat exchangers and it can also lower the risk of explosion that a propane system may be exposed to, the company claimed. Following the granting of an AiP from Lloyd’s Register last month and both internationally and domestically patented recently, HHI is also in the process of receiving recognition from other major class societies.


Daewoo to deliver two Yamal LNGCs this year

Daewoo expects to deliver two more ice class LNGCs for Russia’s Yamal LNG project this year, a company spokesman told Reuters. The first ‘Christophe de Margerie’ was recently delivered to Sovcomflot (see page 2). The remaining 14 LNGCs for Yamal are all due to be delivered by 2020, including two this year, the spokesman reportedly said. The Yamal LNG project, which is scheduled to start production in October this year, is jointly owned by Russian gas producer Novatek, Total, China’s CNPC and the Silk Road Fund. It is expected to produce 16.5 mill tonnes of LNG per year at three production trains of 5.5 mill tonnes capacity each. LNG will be shipped to Asia from July to December via the Northern Sea Route, but can be delivered to Europe year-round.


Petronas FLNG loads first cargo

Petronas ‘PFLNG Satu’ loaded its first cargo at the Kanowit gas field, offshore Miri, Sarawak on 1st April. The first cargo was shipped on board the LNGC ‘Seri Camellia’, which was due to deliver the cargo to a South Asian terminal. “This accomplishment effectively demonstrates Petronas’ proven technology and capability of adapting a conventionally land-based installation to a floating LNG facility, a game-changer in today’s LNG business landscape,” said Petronas President and Group CEO, Datuk Wan Zulkiflee Wan Ariffin. ‘PFLNG Satu’ was designed to operate in water-depths of between 70 and 200 m. She has a processing capacity of 1.2 mill tonnes per annum. Petronas has another FLNG under construction in South Korea, which was initially scheduled for delivery in 2018 but was subsequently postponed to an undisclosed date.


Teekay LNG in cash distribution

Teekay GP, the general partner of Teekay LNG Partners, has declared a cash distribution of $0.14 per unit for the quarter ended 31st March, 2017. The cash distribution is payable on 12th May, 2017 to all unit holders of record on 5th May, 2017.