Chiyoda, the leading Japanese energy engineering and construction company, forecasts final investment decisions soon on three large LNG ventures it is associated with and also expects to start the front-end engineering on Qatar’s development of three new mega-Trains.
Global LNG supplies will expand rapidly, leading to a more competitive, globally integrated natural gas market as more projects are completed.
Natural gas production from shale gas and tight oil plays as a share of total US natural gas production is projected to continue to grow in both share and absolute volume because of the large size of the associated resources, which extend over more than 500,000 square miles.
As the Panama Canal prepares for more traffic from LNG carriers from US liquefaction plants heading for the Pacific Basin, the importance of this Central American waterway is emphasized by the continued concerns about potential choke points elsewhere on key energy routes.
Malaysian International Shipping Corp., whose LNG fleet comprises 27 vessels, has taken delivery of and additional ship and newbuild, the “Seri Camar”, the fourth in a series of five vessels with Moss-type storage tanks as the company makes advances in revenues and assets in cooperation with state energy company Petronas.
Woodside Chief Executive Peter Coleman said Australian LNG expansion was planned and he would still cooperate with Korea Gas Corp. on the Port Arthur LNG project in Texas despite a payments dispute with the Korean company.
March 23 (LNG) - The 261,700 cubic metres capacity Q-Max carrier “Al Samriya” will deliver a cargo on March 30 to the UK South Hook import terminal in Milford Haven from the Ras Laffan plant in Qatar, according to the port authorities. The delivery was heading for the UK as the National Balancing Point benchmark natural gas price was at the equivalent of $7.70 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was lower at the equivalent of around $6.90 per MMBtu.
March 22 (LNGJ) - Kuwait Petroleum Corp. (KPC) has signed a new long-term agreement for supplies of liquefied natural gas, said the Kuwaiti state news agency. It said the LNG volumes would help the Gulf nation meet rising natural gas demand for the power generation sector. The agreement was signed with Shell International Trading and will start in 2020. According to a previous provisional agreement, it would involve volumes of up to 3 million tonnes per annum for 15 years. Kuwait’s Mina Al-Ahmadi floating LNG import facility was the first to be set up in the Gulf region in 2009. KPC in April 2014 signed its first LNG deal with Shell to supply cargoes on a seasonal basis for five years.
March 22 (LNGJ) - The 210,100 cubic metres capacity Q-Flex carrier “Duhail” will unload a cargo on March 24 at the UK Milford Haven import terminal in Wales from the Ras Laffan plant in Qatar, according to the port authorities. The delivery was heading for the UK as the National Balancing Point benchmark natural gas price was at the equivalent of $7.60 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was lower at the equivalent of around $6.90 per MMBtu.
March 21 (LNGJ) - Royal Dutch Shell updated investors on its downstream growth ambitions through 2018 and beyond. “Our unique downstream business is fundamental to delivering a world-class investment case,” said Chief Executive Officer Ben van Beurden. “Its unparalleled breadth, depth and the strength of our brand make our downstream business highly competitive, helping to generate strong free cash flows and returns,” added the CEO. Shell said downstream was helping Shell to thrive during the global shift to a lower-carbon energy system. “We are making products from today’s technologies as good as they can be, with better fuels and lubricants. We are also helping to deliver tomorrow’s products, services and technologies. From battery-electric vehicle charging to next-generation biofuels and LNG for transport,” said John Abbott, Shell Downstream Director.
March 21 (LNGJ) - The 172,600 cubic metres capacity carrier “Christophe de Margerie”, is scheduled to deliver a shipment on March 24 to the French Montoir de Bretagne import terminal on the Atlantic coast from the Russian Yamal plant in Siberia, according to shipping data. The 138,200 cubic metres capacity vessel “British Innovator”, operated by BP Shipping, is scheduled to deliver a cargo on March 31 to the Tai-Chung import terminal in Taiwan from the Trinidad export plant in the Caribbean. The 210,100 cubic metres capacity Q-Flex vessel “Al Ruwais” will unload a Qatargas shipment on April 1 at the Japanese Futtsu import facility, operated by Tokyo Electric Power.
March 20 (LNGJ) - Wood Group, the energy services and LNG project company that completed the US$2.8-billion acquisition in October 2017 of London-listed peer Amec Foster Wheeler, posted a $30 million loss for the year. Wood said operating profit before one-time items was $212M compared with $244M the previous year, a fall of 13 percent. Revenues from continuing operations amounted to $5.39Bln in 2017. “The acquisition of Amec Foster Wheeler in October brought together two businesses and three brands to create Wood, a global leader in project engineering and technical services delivery,” said Robin Watson, Wood Chief Executive. “We are a broader business with multi-sector, full-service capability across energy and industrial markets and have a stronger, more balanced offering in oil and gas,” added Watson.
March 20 (LNGJ) - Oil Search, the Papua New Guinea LNG and oil and gas field stakeholder, said the people of PNG and its extensive energy facilities are slowly recovering from the impact of the magnitude 7.5 earthquake that struck the Highlands region on February 26. Oil Search said it had spent an initial US$5 million in cash and kind to address critical needs and has distributed relief supplies to more than 120,000 people in earthquake-affected areas. It is also bringing its oil and gas facilities back on stream. “Engineering teams, located both on and off site, have been systematically reviewing the wells, gathering systems, production facilities and other infrastructure,” said the company. “While the processing facilities have been largely undamaged, highlighting their resilience, remedial work is required to ensure the integrity and safety of our assets,” it added. The LNG plant is expected to be back on stream in April once the Hides Gas Conditioning Plant restarts operations.
March 19 (LNGJ) - Japanese energy company Inpex Corp., the main stakeholder in the Australian Ichthys LNG export plant under construction at Bladin Point near Darwin in the Northern Territory, said it was awarded an exploration permit for WA-533-P as operator in Australia’s latest acreage release. “The block is located off the northern coast of Western Australia and covers a surface area of 12,402 square kilometres. The block’s water depth ranges between approximately 50 metres and 600 metres,” said Inpex. The block lies on an offshore extension of the onshore Canning Basin in Western Australia where promising fields have already been discovered and developed. The Ichthys LNG project is being developed with French energy company Total and is scheduled to come on stream later in 2018.
March 16 (LNGJ) - The US government’s weekly natural gas report said four LNG carriers with a combined 14.8 billion cubic feet of capacity departed from the Sabine Pass LNG export plant in Louisiana from March 8 to March 14 and two further vessels with 7.5 Bcf of capacity were lifting cargoes. The report noted that the first cargo from the Dominion Energy Cove Point LNG export plant in Maryland loaded on March 2 was now likely to be heading for the UK Dragon import terminal in the port of Milford Haven after initially being enroute to South America.
March 16 (LNGJ) - The Japanese Ministry of Economy, Trade and Industry (METI) said its seventh LNG Producer-Consumer Conference would be held on Monday, October 22, 2018 in Nagoya, jointly hosted with the Asia Pacific Energy Research Centre (APERC). The Japanese conference has become the most important non-commercial event on the LNG calendar and in recent years has attracted government ministers and senior energy industry executives to discuss market developments. The 2018 conference venue is the Hotel Nagoya Castle in Japan’s Aichi Prefecture. “The Conference held last October was attended by over 1,200 people from governments, international organizations and businesses involved in the LNG industry from over 30 countries,” said the ministry.
March 15 (LNGJ) - Statoil, the Norwegian energy company and operator of Europe’s only baseload LNG production plant at Hammerfest, is planning to change the name of the company to Equinor. “The name change supports the company’s strategy and development as a broad energy company,” said Statoil. “The name Equinor is formed by combining ‘equi’, the starting point for words like equal, equality and equilibrium, and ‘nor’, signalling a company proud of its Norwegian origin,” explained the company. Statoil Board Chairman Jon Erik Reinhardsen said the world is changing and so is Statoil. “The biggest transition our modern-day energy systems have ever seen is underway and we aim to be at the forefront of this development. Our strategy remains firm. The name Equinor reflects ongoing changes and supports the always-safe, high-value and low-carbon strategy we outlined last year,” said Reinhardsen.
March 15 (LNGJ) - US-based energy and LNG engineering companies McDermott International and CB&I said they had received antitrust clearance in Russia for their proposed combination. “With this clearance, McDermott and CB&I have received all the required competition authority approvals for the transaction,” they said. McDermott and CB&I agreed in December to combine in an all-stock transaction to create a company valued at $6 billion. Under the terms of the deal, McDermott stockholders will own around 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own about 47 percent.
March 14 (LNGJ) - Petronas, the Malaysian energy company and LNG producer, has signed an accord with Japanese utility Tokyo Gas to supply cargoes for a period of up to 13 years. The deliveries from Petronas subsidiary Malaysia LNG will start in April 2018 and will amount to around 500,000 tonnes per annum for the first six years, with the possibility of a volume increase to 900,000 tonnes per annum for the remaining seven years. Petronas Vice President of LNG Marketing, Ahmad Adly Alias, pointed out that Malaysia has a 35-year LNG supply relationship with Tokyo Gas. “At Petronas, we value these relationships and the trust placed in our company for a secure and reliable supply of LNG,” he added. The Petronas LNG production plant at Bintulu in Sarawak has nine Trains and 30 million tonnes per annum of output. The company also operates the world’s first floating LNG production hull, deployed offshore Sarawak.
March 14 (LNGJ) - KBR, the Houston-based energy and LNG project engineering company, said it had launched a refinancing programme scheduled it to be completed by early April. “KBR expects that the refinancing will consist of secured credit facilities including a revolving credit agreement, a performance letter of credit Facility, and two term loans,” the company said. It also stated that it would not be issuing equity to the markets as part of this refinancing process.
March 13 (LNGJ) - RWE, the German utility and energy company, posted adjusted annual earnings of 5.8 billion euros ($7.15Bln) compared with 5.4Bln euros in the previous year, a rise of 7.3 percent. Profits were boosted by its European Power division and a higher earnings contribution from energy trading. RWE pledged to increase its presence in the liquefied natural gas market. “In terms of generation capacity, gas is already RWE’s main source of energy, with a share of around 40 percent, making the company one of the leading competitors in Europe. Additional growth is targeted in energy trading, in particular in the LNG business,” stated RWE.
March 12 (LNG) - GasLog, the Monaco-based LNG shipping company with a fleet of 27 LNG carriers including 22 on the water and five on order, has signed a contract for another newbuild with Samsung Heavy Industries of South Korea. GasLog said the 180,000 cubic metres capacity vessel was scheduled for delivery in the second quarter of 2020 and is currently unchartered. “Given that the outlook for LNG shipping demand remains robust, and with increasing evidence that newbuild prices are starting to rise, we have moved to lock in a very attractive price for our second newbuild order in 2018,” said Paul Wogan, Chief Executive of GasLog. “We remain confident that the unit freight cost advantage offered by the latest generation vessels will make this ship highly attractive,” he added.
March 12 (LNGJ) - The US Federal Energy Regulatory Commission has approved a request from Cheniere Energy, owner of the Sabine Pass LNG export plant in Louisiana, to begin the permit process for a third loading jetty at the facility that started commercial operations in February 2016. Cheniere told the regulator that it would formally apply for the jetty permit in September 2018 so that the additional facility to handle vessels with capacity of between 125,000 cubic metres and 185,000 cubic metres would be ready for the coming on stream of the final two of the six planned liquefaction Trains.
March 9 (LNGJ) - The 165,000 cubic metres capacity "Methane Spirit" will likely be the next vessel to lift an LNG cargo from the Cove Point plant in Maryland, owned by Dominion Energy, around the end of March, according to the US Energy Information Administration. The 138,100 cubic metres capacity vessel "Gemmata", operated by Shell Shipping, shipped the first cargo on March 2 from Cove Point on Chesapeake Bay. At the Sabine Pass plant in Louisiana, owned by Cheniere Energy, five LNG carriers departed with cargoes from March 1 to March 7 with total carrying capacity 18.5 billion cubic feet of gas and a sixth vessel was loading.
March 8 (LNGJ) - Engie, the French utility that has been disposing of LNG and other assets, posted annual group net income from continuing operations of 1.42 billion euros ($1.75Bln), including one-time gains, compared with losses of 415 million euros in 2016. “This improvement takes into account lower impairment losses, gains on the disposal of the thermal merchant power plant assets in the United States, Poland and the United Kingdom, as well as on the disposal of a non-consolidated interest in Petronet LNG in India,” said Engie. The company’s net debts were at the equivalent of $28 billion. In November 2017, Engie also signed a sales agreement with Total for its upstream and midstream LNG activities and this was expected to close in several months.
March 8 (LNGJ) - NextDecade Corp., the US developer of the Rio Grande LNG export project near the Brownsville Ship Channel in South Texas with 27 million tonnes per annum of planned output, has chosen Swiss-Swedish company ABB to provide automation and electrical systems. “NextDecade expects ABB's solutions to reduce the schedule, equipment footprint and cost of our Rio Grande LNG facility, while providing greater operational flexibility,” said Matt Schatzman, the NextDecade President and Chief Executive. The start-up of the first two processing Trains has been scheduled for around 2021-2022.
March 7 (LNGJ) - Chevron Corp. said at its annual meeting with analysts in New York that it intended to deliver more cash and output in 2018. “Even with no commodity price appreciation, we expect to deliver stronger upstream cash margins and production growth,” said Chief Executive Michael K. Wirth. “This is a powerful combination,” added Wirth. Chevron said that natural gas was an increasingly global commodity with steady demand and ample supply capacity. However, the US major said it expected to see an “LNG supply gap developing around 2025.”
March 7 (LNGJ) - Royal Dutch Shell has agreed to double its liquefied natural gas purchase agreement with Washington DC-based Venture Global, taking the US developer closer to a final investment decision for one of its two projects in Louisiana. Shell is now committed to buying 2 million tonnes per annum of LNG as free-on-board cargoes for 20 years from the Calcasieu Pass project out of 10 MTPA of planned production. Venture Global has also signed a similar 20-year supply accord for 1 MTPA with Italian utility Edison. Venture Global plans to produce 20 MTPA from a second export plant in Plaquemines on the Mississippi River.
March 6 (LNGJ) - Woodside Petroleum, operator of the Northwest Shelf and Pluto LNG plants in Western Australia, said it holds a 30 percent stake in the Likuale block offshore Gabon in West Africa where Malaysian company Petronas has made a natural gas and oil discovery as operator. The Boudji-1 exploration well in the Likuale block intersected a 90 metres gross oil and gas column in high quality hydrocarbon-bearing pre-salt sands. “The operator, in conjunction with the Government of Gabon, will conduct an assessment to understand the commerciality of the resource,” said Woodside, which is finalizing the Likuale acquisition. The Australian company said when the deal was completed it would be the largest gross acreage holder in deep water offshore Gabon with interests in four blocks covering 16,776 square kilometres.
March 6 (LNGJ) - McDermott International, the US energy engineering company currently merging with CB&I, was awarded a detailed engineering and procurement services contract from BP as part of the UK company's natural gas expansion in the LNG producing country of Trinidad & Tobago. The McDermott contract relates to the Cassia C Compression Platform, located 40 miles off the southeast coast of Trinidad. The contract follows McDermott's award for the full engineering and commissioning contract in 2017 for the Caribbean nation's Angelin gas project. "This award is significant as we continue to build our relationship with BP Trinidad & Tobago through strong collaboration and predictability in our execution," said Scott Munro, McDermott's Vice President for Americas, Europe and Africa.
March 5 (LNGJ) - The 155,000 cubic metres capacity vessel “Gaslog Sydney” was unloading a cargo on March 5 at the Japanese Ishikari import terminal, owned by Hokkaido Gas, from the Queensland Curtis export plant in Queensland. The 261,700 cubic metres capacity Q-Flex carrier “Al Ghuwwairiya” delivered a Qatargas shipment on March 5 to the Indian Dahej terminal, located north of Mumbai and owned by Petronet LNG. The 174,000 cubic metres capacity carrier “Maran Gas Ulysses” is scheduled to arrive on March 7 at the UK Dragon LNG terminal in Milford Haven in Wales from the Montoir-de--Bretagne terminal on the West Coast of France. The 147,200 cubic metres capacity vessel “Arctic Princess” is scheduled to deliver cargo on March 8 to the Isle of Grain import terminal in Kent from the Hammerfest plant in Northern Norway, operated by Statoil.
March 2 (LNGJ) - French energy company Total has paid $450 million to Marathon Oil for its stake of just over 16 percent in the Waha concessions in Libya, a former LNG producer whose liquefaction plant was partially destroyed in its civil war. “This acquisition will give Total access to reserves and resources in excess of 500 million barrels of oil equivalent, with immediate production of around 50,000 barrels of oil equivalent per day and a significant exploration potential across the area of 53,000 square kilometres covered by the concessions in the prolific Sirte Basin,” said Total. The Libyan LNG plant was shut down in February 2011 as a result of damage sustained during the conflict and repairs were never carried out.
March 2 (LNGJ) - Spain has been supplying additional supplies of natural gas to France through pipeline inter-connections between the two countrfies during the current cold snap sweeping Europe. Spanish network operator Enagas, which itself receives natural gas in the form of pipelines imports from North Africa and LNG shipments, said its supplies to France come at a time when there is a low level of storage in Europe due to recent demand. Enagas said that for example on February 28, the Spanish gas system supplied a total of 22 gigawatt hours (GWh) of natural gas to France through the interconnections at Irun in Guipuzcoa and at Larrau in Navarra. “This figure is equivalent to supplying a city like Zaragoza for a day,” said Enagas.
March 2 (LNGJ) - The 155,000 cubic metres capacity carrier “Gaslog Seattle” delivered a cargo on March 2 to the Jordanian port of Aqaba from the US Sabine Pass export plant in Louisiana, according to shipping data. The 160,000 cubic metres capacity vessel “Asia Excellence”, owned by Chevron, was unloading a cargo on March 2 at the Chinese Yangshan import terminal at Shanghai port, from Gorgon LNG in Western Australia. The 155,900 cubic metres capacity carrier “Woodside Rogers” was unloading a shipment on March 2 at Taiwan’s Yung-An terminal from Woodside Petroleum’s export facility at Dampier in Western Australia.
March 1 (LNGJ) - Enagas, the Spanish gas transmission network operator and owner of LNG import terminals, said demand for natural gas in Spain grew by 17 percent in February with colder weather causing domestic and commercial consumption to surge almost 34 percent compared with the same month last year. “Industrial demand registered an increase of 6.4 percent and continues to grow steadily, in line with the positive evolution of the economy,” said Enagas. Total demand in February reached 34,105 gigawatt hours. “Industrial demand, which represents more than 50 percent of total natural gas consumption, reached 17,266 GWh,” it added.
Feb 28 (LNGJ) - Malaysian International Shipping Corp. has taken delivery of the LNG carrier “Seri Camar”, the fourth in a series of five vessels with Moss-type storage tanks. The 150,200 cubic metres capacity carrier was built at Hyundai Heavy Industries in South Korea and benefits from an Integrated Hull Structure (IHS) with four spherical tanks shielded by a continuous cover, fortifying the vessel to allow for operation in even the harshest marine environments. Owned by MISC and chartered to state energy company Petronas, the Malaysian-flagged vessel was delivered at a naming ceremony held at the HHI yard in the Korean port of Ulsan. “We’re proud to celebrate our 50th anniversary this year, growing from strength to strength to become one of the leading global providers of energy related maritime solutions and services,” said MISC President and Chief Executive Yee Yang Chien.
Feb 28 (LNGJ) - A US Federal Energy Regulatory Commission inquiry has revealed no evidence of anti-competitive withholding of natural gas pipeline capacity on the Algonquin Gas Transmission pipeline by New England shippers. The Commission said it would take no further action on the matter. “The inquiry arose out of allegations made by the Environmental Defense Fund in an August 2017 white paper, which asserted that local gas distribution companies in New England had engaged in practices to withhold pipeline capacity on the Algonquin system to drive up gas and/or power prices in the region,” FERC explained. “Commission staff took these allegations very seriously and conducted an extensive review of both publicly available and non-public data. On the basis of that review, staff determined that the study was flawed and led to incorrect conclusions,” it added.
Feb 27 (LNGJ) - Flex LNG, the Norwegian company whose shareholders include a fund controlled by shipping magnate John Fredriksen, reported fourth-quarter revenues of $7.9 million compared with $9.8M in the previous quarter. During the three months, it operated two chartered-in LNG carriers to build a market presence. “We are pleased to deliver profitable results for the fourth quarter as two of our chartered-in vessels were employed in charters throughout the quarter,” said Chief Executive Jonathan Cook. “In January, we successfully took delivery of the first two of our six newbuilds and secured a 15-month to 18-month time-charter for one of the vessels in line with our strategy to secure balanced fleet employment as the market continues to improve,” added Cook.
Feb 27 (LNGJ) - The 75,000 cubic metres capacity vessel “Cheikh Bouamama” is unloading a shipment at the French Fos terminal near Mediterranean port of Marseilles from the Skikda plant in Algeria, according to shipping data. The 174,000 cubic metres capacity carrier “Maran Gas Achilles” is scheduled to discharge a shipment on February 27 at the Yung-An import terminal in Taiwan from the Bontang plant in Indonesia. The 160,400 cubic metres capacity vessel “Soyo” will unload a cargo on February 28 at the Indian Dahej terminal, owned by Petronet LNG, from the Angola LNG plant in southwest Africa. The 160,400 cubic metres capacity carrier “Cubal” is scheduled to deliver an Angolan shipment on March 1 to the Chinese Zhuhai import terminal.
Feb 26 (LNGJ) - The 172,600 cubic metres capacity carrier “Christophe de Margerie”, is scheduled to deliver a shipment on March 2 to the Dutch Gate import terminal in Rotterdam from the Russian Yamal plant in Siberia, according to shipping data. The 138,100 cubic metres capacity vessel Gemmata, operated by Shell Shipping, is scheduled to arrive on March 1 at the US Cove Point export plant in Maryland, owned by Dominion Energy, after previously docking at the Peru LNG plant at Pampa Melchorita.
Feb 23 (LNGJ) - US LNG exports numbered three carrier-loads from the Sabine Pass export plant in Louisiana in the past week, down from six in the previous week, while a fourth vessel was lifting a cargo at the facility, according to the US Energy Information Administration weekly natural gas report. The EIA report noted that the slowdown was matched by lower natural gas pipeline deliveries to the Sabine Pass facility amounting to an average 2.2 billion cubic feet per day, down 33 percent. Dominion Energy, the owner of the Cove Point liquefaction facility in Maryland, is close to starting commercial operations at its plant on Chesapeake Bay.
Feb 22 (LNGJ) - Exmar, the Belgian LNG fleet owner and project developer, said its floating storage and regasification unit (FSRU) barge delivered from the Wison shipyard in China at the end of 2017 has left the facility in Nantong and was now bound for Singapore. “There the unit will undergo site specific modifications before departing to its project destination to commence its long-term employment mid-2018 in line with its time charter commitments,” said Antwerp-based Exmar. The vessel is the world’s first newbuild regasification barge and was ordered on a speculative basis. “More information on the charterer and the location will be released at a later stage,” said Exmar.
Feb 21 (LNGJ) - Noble Energy, the US exploration and production company with interests in US shale and East Mediterranean natural gas, said capital expenditure is expected to total between $2.7 billion and $2.9 billion in 2018, with almost 70 percent allocated to the US onshore program and over 25 percent to the East Med. Noble said US spending was expected to be around $1.8 billion. In the East Med, Noble’s expected expenditure of $750 million to make progress on the Leviathan development offshore Israel from where gas will be sold to Jordan, Egypt and the Palestinian Authority.
Feb 20 (LNGJ) - Enagas, the Spanish natural gas transmission company that controls most of the nation’s LNG import terminals and has other assets in South America and elsewhere, posted net profits of 490.8 million euros ($606.4M) in 2017. The profits were 17.6 percent higher than in the previous year because of the full integration of its increased stake in the Chilean LNG import terminal company, GNL Quintero. Enagas said its earnings performance was helped by the third consecutive year of increased natural gas demand in Spain, reaching 351 terawatt hours in 2017.
Feb 20 (LNGJ) - The 145,000 cubic metres capacity carrier “Methane Nile Eagle” is scheduled to unload a shipment on February 21 at the Indian Dahej terminal, operated by Petronet LNG, from the Equatorial Guinea plant in West Africa, according to shipping data. The 148,470 cubic metres capacity ship “LNG Kano” will deliver a shipment on February 27 to the Tianjin import terminal in northeast China from the Bonny Island plant in Nigeria. The 137,230 cubic metres capacity carrier “LNG Sokoto” will deliver a Nigerian shipment on March 4 to the Indian Hazira terminal, located north of Mumbai and operated by Shell India. The 138,000 cubic metres capacity vessel “British Merchant”, operated by BP Shipping, is scheduled to deliver a cargo on March 9 to Thailand’s Map Ta Phut import terminal from the Atlantic LNG plant on the Caribbean island of Trinidad.
Feb 19 (LNGJ) - Beach Energy, the emerging Australian natural gas player and buyer of Origin Energy’s Lattice oil and gas spin-off, posted a 7 percent decline in first-half net profits for fiscal 2018 to A$95.7 million (US$74.7M) versus A$103.4 in the previous first half. One of Beach’s main assets is its joint venture equity stake in the onshore Waitsia natural gas project in Western Australia with AWE Ltd, a company expected to be taken over by Japan’s Mitsui & Co. Beach acquired the Lattice assets for US$1.25 billion from Origin, a stakeholder in the Australia Pacific LNG plant, and the move doubled Beach’s size and established it as a major supplier of gas to domestic markets.
Feb 16 (LNGJ) - The 266,000 cubic metres capacity Q-Max carrier “Aamira” will unload a cargo on February 22 at the UK Milford Haven import terminal in Wales from the Ras Laffan plant in Qatar, according to shipping data. The delivery was heading for the UK as the National Balancing Point benchmark natural gas price was at the equivalent of $6.95 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was lower at the equivalent of around $6.55 per MMBtu.
Feb 16 (LNGJ) - US LNG exports numbered five carrier-loads from the Sabine Pass export plant in Louisiana in the week ending February 14, while a sixth vessel was lifting a cargo at the facility, according to the US Energy Information Administration weekly natural gas report. The EIA noted that Dominion Energy, the owner of the Cove Point liquefaction facility in Lusby, Maryland, is close to starting commercial operations. “The terminal began producing LNG on January 31 and commercial deliveries are expected to start in early March,” said the EIA.
Feb 15 (LNGJ) - The 148,300 cubic metres capacity vessel “LNG Ondo” is scheduled to deliver a cargo on February 18 to the French Montoir-de-Bretagne import terminal on the West Coast from the Nigeria LNG plant at Bonny Island, according to shipping data. The 141,000 cubic metres capacity carrier “LNG River Niger” will deliver a second shipment on February 24 to France’s Montoir terminal. The 165,500 cubic metres capacity carrier “Magellan Spirit”, operated by Teekay LNG, was expected to lift a cargo on February 17 from the US Sabine Pass export plant in Louisiana. The 174,000 cubic metres capacity vessel “Maran Gas Achilles” will be lifting a shipment on February 21 from the Bontang export plant in Indonesia for delivery to an Asian terminal. The 170,000 cubic metres capacity “Methane Julia Louise” will deliver a cargo on February 22 to the Tianjin import facility in northeast China from the Queensland Curtis plant in Gladstone, Eastern Australia.
Feb 14 (LNGJ) - BW Group, the Singapore-based energy shipping and platforms company, has ordered two LNG carriers from South Korean shipyard Daewoo Shipbuilding and Marine Engineering. The two vessels with capacities of 173,000 cubic metres will each cost around US$190 million and be delivered in the first half of 2020. BW currently has 16 LNG carriers on the water and five others on order in Korea. Of the 21 vessels, 18 of them are conventional LNG carriers while three are floating storage and regasification units.
Feb 13 (LNGJ) - Awilco LNG, the Norwegian operator of two modern carriers, the 156,000 cubic metres capacity “WilPride” and the “WilForce”, narrowed its fourth-quarter losses to $4.5 million, down from $6.8M in the previous three months. Awilco said freight income for the quarter was $9.6M, up from $5.7M in the third quarter “due to the improving market fundamentals” as both vessels operated in the spot market. Voyage related expenses amounted to $2.3M compared with $1.3M in the previous quarter. “After almost three years of depressed freight rates, the market finally returned to profitable territory in Q4 2017 on the back of increased production volumes, the open West-East arbitrage and low availability of vessels in the Atlantic,” Awilco noted.
Feb 12 (LNGJ) - South Korean LNG importer Korea Gas Corp. (Kogas) said it had entered an arbitration process with the Australian North West Shelf LNG plant in Western Australia, operated by Woodside Petroleum, to settle an LNG contract dispute dating back to 2016. The arbitration relates to differences over a price renegotiation. Kogas imports most of South Korea’s LNG from plants in Australia, the Middle East and Asia to its four terminals at Incheon, Pyeong-Taek, Samcheok and Tong-Yeong.
Feb 12 (LNGJ) - The 134,425 cubic metres capacity vessel “Galea”, operated by Shell Shipping, will deliver a cargo on February 13 to the Turkish import facilities at Aliaga from Atlantic LNG in Trinidad, according to shipping data. The 266,000 cubic metres capacity Q-Max carrier “Al Mafyar” is scheduled to deliver a cargo on February 16 to Singapore from the Ras Laffan plant in Qatar. The 172,000 cubic metres capacity vessel “Beidou Star” will unload a shipment on February 18 at China’s Dalian terminal, operated by PetroChina, from the Gorgon export plant on Barrow Island in Western Australia, operated by Chevron Corp.
Feb 9 (LNGJ) - Exxon Mobil Corp., one of the world’s largest LNG players, said it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil's proved reserves totaled 21.2 billion oil-equivalent barrels at year-end. “Significant new proved reserve additions were made in Guyana, where the company funded the first phase of development last year, and in Mozambique, associated with the project funding of the Coral FLNG project in the gas-rich deepwater Area 4,” said the US major. “In Mozambique, ExxonMobil acquired a 25 percent indirect interest in Area 4, which contains an estimated 85 trillion gross cubic feet of natural gas in-place,” it added.
Feb 8 (LNGJ) - The 147,200 cubic metres capacity carrier “Arctic Princess” is scheduled to deliver a cargo on February 9 to the Dutch Gate terminal in Rotterdam from the Hammerfest plant in Norway, operated by Statoil. The 160,000 cubic metres capacity vessel “Asia Endeavour”, owned by Chevron Corp., is scheduled to lift a cargo on February 12 from the Ashburton port of Wheatstone LNG in Western Australia for delivery to Asia. The 155,000 cubic metres capacity carrier “British Diamond”, owned by BP Shipping, will unload a cargo on February 26 at the Japanese Futtsu terminal from the Atlantic LNG plant in Trinidad. The 155,000 cubic metres capacity vessel “British Merchant” is scheduled to deliver a cargo from Trinidad on March 11 to Thailand’s Map Ta Phut terminal.
Feb 7 (LNGJ) - Statoil, the Norwegian oil and gas company and operator of Western Europe’s only baseload LNG production plant at Hammerfest, reported adjusted fourth-quarter overall earnings of $4 billion and $1.3Bln after tax. Statoil said the earnings were based on a solid operational performance with record production in the final three months of 2017. “In a recovering market, we delivered strong earnings and cash flow from all business segments,” said Chief Executive and President Eldar Saetre. At an average oil price of around $54 per barrel, Statoil said it generated 3.1Bln in free cash flow in 2017 and strengthened its financial position.