Qatar and Australia are leading the race to keep Chinese LNG import terminals well supplied as colder winter temperatures begin to set in. A dozen carriers are set to deliver cargoes in the second half of December and at least 12 other ships are awaiting orders offshore for terminal slots.
Global natural gas markets are being reshaped by the development of major emerging LNG buyers such as China and by the rising production and export projects underway in the United States and elsewhere.
China is currently in the midst of its “Action Plan on Prevention and Control of Air Pollution” to improve overall air quality across the nation during a five-year period.
In the past 10 years, Latin America and the Caribbean have seen significant growth in the number of LNG import terminals being constructed and commencing operations in these regions.
We are in a market where an industry which is just over 50 years old is growing at a very fast pace and its future looks bright. Liquefied natural gas trade has quadrupled over the last two decades and is expected to double over the next two.
Dec 12 (LNGJ) - The 160,106 cubic metres capacity carrier “Corcovado LNG” is scheduled to deliver a cargo on December 19 to the UK Dragon LNG import terminal at Milford Haven in Wales, owned by Royal Dutch Shell and Petronas of Malaysia, according to the port authority. The carrier had earlier in December docked at the Mugardos terminal in northwest Spain. The vessel is scheduled to arrive as the UK National Balancing Point benchmark natural gas price was at the equivalent of $8.00 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 $7.85 per MMBtu.
Dec 11 (LNGJ) - NYK Line, the Japanese shipping company, said it signed long-term contracts with a subsidiary of Mitsubishi Corp. to charter three LNG carrier newbuilds for North American deliveries. The vessels will be chartered to Singapore-based Mitsubishi fuel subsidiary, Diamond Gas International. NYK previously concluded long-term time-charter deals for three new LNG vessels to ship cargoes from the Cameron LNG plant in the US and these new contracts bring the total to six carriers. NYK said it would be responsible for management of three of the vessels with 174,000 cubic metres capacity ordered from South Korean shipbuilder, Hyundai Samho Heavy Industries. The first LNG carrier, scheduled to be delivered in 2020 will transport LNG from the Cameron plant in Louisiana. The other two vessels are scheduled to be delivered in 2021 and will ship LNG from the Royal Dutch Shell-led LNG Canada project in British Columbia.
Dec 10 (LNGJ) - South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering said it received an order to build an LNG carrier for Maran Gas Maritime of Greece, the LNG unit of the Angelicoussis Shipping Group. The vessel is scheduled for delivery in the first half of 2021. Daewoo noted that the Angelicoussis group had placed a total of 101 ship orders with Daewoo since 1994, with 85 of them delivered and 16 under construction in South Korea. Daewoo said it had obtained $6.22 billion worth of orders so far this year, achieving 85 percent of its sales target of $7.3Bln.
Dec 7 (LNGJ) - US LNG exports increased in the past week to eight shipments, six from the Sabine Pass in Louisiana and two from Cove Point in Maryland and set a new monthly record, said the US Energy Information Administration. Another LNG carrier, the 174,000 cubic metres capacity “Maria Energy”, was moored near the new Corpus Christi liquefaction and export facility in Texas and is expected to lift the first cargo. US LNG exports in November amounted to 31 loaded cargoes, 26 from Sabine Pass and five from Cove Point, exceeding the previous monthly record set in July 2018 when 29 shipments left the US.
Dec 6 (LNGJ) - The South Korean shipbuilder, Hyundai Mipo Dockyard Co., said it received an order from Knutsen Shipping of Norway for a small-scale LNG carrier with capacity of 30,000 cubic metres and worth $77 million. “Hyundai Mipo will deliver the ship by the first quarter of 2021,” said the yard, a subsidiary of Hyundai Heavy Industries, the world's biggest shipbuilder by orders.
Dec 5 (LNGJ) - French LNG storage tank technology company GTT said it received an order from the South Korean shipyard, Samsung Heavy Industries, for tank designs for a 174,000 cubic metres capacity LNG carrier on behalf of Greek ship-owner Minerva. The newbuild will be fitted with the Mark III Flex-plus membrane containment system developed by GTT and the vessel is scheduled for completion in the first quarter of 2021. “We are very pleased for the renewed trust of our excellent partner Samsung Heavy Industries as well as welcoming Minerva for its entry this year into the LNG industry,” said GTT Chairman and Chief Executive Philippe Berterottiere. “This order brings to five the number of LNG carriers to be equipped with this new Mark III Flex-plus technology,” added the CEO.
Dec 4 (LNGJ) - Burckhardt Compression, the Swiss-based maker of compressor systems for the oil and gas and LNG industries, has opened a service centre for its Central Europe business area. “The Service Center is strategically located in Slovakia in order to react fast on customer demands and to provide comprehensive services for reciprocating compressors of any brand to operators in Slovakia, Czech Republic, Hungary as well as Poland,” said the company. The centre will be operated in cooperation with its local partner Sultrade Compressor Services.
Dec 3 (LNGJ) - Hoegh LNG Holdings named Havard Furu as its new Chief Financial Officer, effective from March 2019. The interim CFO, Steffen Foreid, will step down from March while continuing his role as Chief Executive and CFO of the US unit, Hoegh LNG Partners. New CFO Furu occupied the same role at law firm Wikborg Rein. Before that he was CFO in Western Bulk in the period from 2009 to 2017 and was formerly employed by BW Gas as Assistant Director Strategy and Finance. “We are very pleased to welcome Havard to the Hoegh LNG team, as he brings with him very broad financial experience covering all relevant segments of the CFO role,” said Sveinung J.S. Stohle, President and CEO of Hoegh LNG.
Dec 3 (LNGJ) - The 217,000 cubic metres capacity Q-Flex carrier “Al Huwaila” will deliver a cargo on December 8 to the UK South Hook import terminal at Milford Haven in Wales from Ras Laffan in Qatar, according to the port authority. The delivery was heading for the UK as the National Balancing Point benchmark natural gas price was at the equivalent of $8.10 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was higher at around $8.20 per MMBtu.
Nov 30 (LNGJ) - US LNG exports amounted to seven shipments in the past week, six from the Sabine Pass plant in Louisiana and one from Cove Point in Maryland, according to the weekly natural gas report from the Energy Information Administration. “Commissioning activities at the Corpus Christi liquefaction terminal in Texas continued as pipeline feedstock deliveries increased from 0.07 billion cubic feet per day in the previous week to 0.4 Bcf-0.5 Bcf per day during the past few days,” said the EIA in reference to Cheniere Energy’s second LNG plant set to start commercial services. The EIA also noted that US LNG exports in November were on track to match or exceed the previous record set in July, with 29 loaded cargoes reported through November 28.
Nov 29 (LNGJ) - Qatar hosted the annual meeting of the Society of International Gas Tanker and Terminal Operators (SIGTTO) under the sponsorship of Qatar Gas Transport Co, the Gulf nation’s LNG shipping operator, known as Nakilat. SIGTTO has more than 170 members, representing nearly all of the world’s LNG operators and more than half the global liquefied petroleum gas business. In addition to hosting the event, Nakilat also participated in the meetings as Chief Executive Abdullah Al Sulaiti is an active Director of SIGTTO. “The state of Qatar has made significant enhancements in the LNG transportation industry, with Nakilat contributing to the improvements and supporting the increasing exports of LNG shipments, while ensuring compliance with the highest levels of safety,” it said.
Nov 28 (LNGJ) - The 162,400 cubic metres capacity carrier “BW Paris” is scheduled to deliver a cargo on December 5 to the UK Dragon LNG terminal in Milford Haven, owned by Royal Dutch Shell and Petronas of Malaysia, from the US Sabine Pass plant in Louisiana, according to the port authority. The delivery was heading for the UK as the nation’s National Balancing Point benchmark natural gas price was at the equivalent of $8.30 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was slightly higher at the equivalent of $8.35 per MMBtu.
Nov 27 (LNGJ) - Skangas, the Norwegian LNG infrastructure and distribution company for the Nordic region, has had its name changed to Gasum. The Finnish natural gas network owner Gasum increased its shareholding in Skangas from 70 percent to 100 percent in October 2018 by purchasing the balance of the shares from the Norwegian Lyse Group. “The name change will strengthen the Gasum brand in the Nordic countries and the position of Gasum as the leading provider in the region,” said the Finnish company.
Nov 27 (LNGJ) - Royal Vopak, the Dutch international petroleum and commodities storage company, has purchased an additional 15 percent stake in Pakistan’s first LNG import facility at Port Qasim, east of Karachi, taking its total shareholding to 44 percent. The Pakistani terminal is a floating storage and regasification unit under charter for 15 years and has been in operation since 2015. It also comprises an LNG jetty and a 7.5km high-pressure gas pipeline linked to the sole customer, the state-owned local gas network operator, Sui Southern Gas.
Nov 27 (LNGJ) - Kosmos Energy, the partner of BP in the development of floating LNG export projects planned for offshore Mauritania and Senegal, has agreed various share transactions including a public offering and a share repurchase deal. Kosmos said that funds affiliated with global brokers Warburg Pincus were organizing the deals and Kosmos would not receive any of the proceeds as the transactions were aimed at an agreed reduction in Warburg’s stake in the Dallas, Texas-based company. “We are very pleased to come to an agreement with Warburg to help facilitate and accelerate a significant reduction in their position,” said Andrew G. Inglis, Chairman and Chief Executive of Kosmos. “We were able to take advantage of this unique opportunity and our strong balance sheet to re-purchase shares at an attractive price. In addition, these transactions further broaden our shareholder register and increases the company's free float,” added Inglis.
Nov 26 (LNGJ) - The 174,000 cubic metres capacity carrier “Maran Gas Spetses” is scheduled to deliver a cargo on December 1 to the UK Dragon LNG terminal in Milford Haven, owned by Royal Dutch Shell and Petronas of Malaysia, from the US Sabine Pass plant in Louisiana, according to the port authority. The delivery was heading for the UK as the nation’s National Balancing Point benchmark natural gas price was at the equivalent of $8.50 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was slightly lower at the equivalent of $8.25 per MMBtu.
Nov 26 (LNGJ) - The French container shipping company CMA CGM, which is developing LNG-powered vessels, posted a 6.3 percent rise in third-quarter revenues to $6.06 billion from $5.70Bln in the year-ago quarter. The shipping line is awaiting the delivery of nine new LNG-fueled vessels from Chinese shipyards from 2020. During the quarter, CMA CGM said it exceeded 5 million containers shipped, attributable to continued strength in the Transpacific, India-Oceania and African trading areas. The company said third-quarter operating income amounted to $241M. “In a market growing by 2.5 percent to 3 percent, the increase in volumes shipped by CMA CGM demonstrates our commercial drive and the quality of service offered to our customers,” said Chairman and Chief Executive Rodolphe Saadé.
Nov 23 (LNGJ) - The International Maritime Organization (IMO) Council has agreed to renew the appointment of South Korean Kitack Lim as Secretary-General of the IMO for a second four-year term beginning on 1 January 2020, subject to the approval of the IMO Assembly in December 2019. One of the IMO’s biggest current tasks is guiding through the 0.5 percent limit on sulfur content in ship fuel coming into force in 2020 under the UN body’s MARPOL treaty, with benefits for the environment and human health. Shipowners are being encouraged to switch to alternatives such as LNG, lower sulfur fuels, or exhaust cleaners. Aged 62, Kitack Lim began attending IMO meetings in 1986 as a member of the South Korean delegation. He had graduated in nautical science at the Korea Maritime and Ocean University in the port of Busan and worked on ships as a Korean naval officer and for an international shipping company.
Nov 23 (LNGJ) - Indian Prime Minister Narendra Modi said he was pushing ahead with city-gas development to increase the use of natural gas as a replacement for coke, coal and oil for domestic and industrial use. “We want to increase the use of natural gas by 2.5 times by the end of the next decade,” said Modi at a ceremony in New Delhi to mark the setting up of city-gas distribution (CGD) networks in 129 districts and with providers competing in an auction. Modi said India had also begun the bidding process for a tenth round of CGD licence awards, taking gas supplies to 400 districts and 70 percent of the population in the next three years.
Nov 22 (LNGJ) - The 174,000 cubic metres capacity “Maran Gas Pericles” will deliver a re-loaded shipment on November 23 to the Dragon import terminal in the UK port of Milord Haven from the Montoir-de-Bretagne terminal in Western France, according to shipping data. A second UK cargo is scheduled to be delivered on November 29 by the 172,600 cubic metres capacity vessel “Christophe de Margerie” to the UK Isle of Grain terminal on the Medway River, southeast of London, from the Yamal plant in Siberia. The 177,000 cubic metres capacity carrier “Gigira Laitebo” will deliver a shipment on November 24 to the Chinese Qingdao terminal in eastern Shandong province from the Papua New Guinea export plant.
The 152,000 cubic metres capacity “Seri Balhaf”, owned by MISC Berhad, is scheduled to lift a cargo on November 25 from the Egyptian Idku export plant, operated by Royal Dutch Shell near the port of Alexandria. The 165,500 cubic metres capacity carrier “Woodside Donaldson” will deliver a cargo on November 28 to the Incheon terminal in South Korea from the Dampier export facility in Western Australia. The 176,300 cubic metres capacity vessel “Rioja Knutsen” will unload a cargo on December 9 at the Bilbao terminal in northwest Spain from the US Sabine Pass plant in Louisiana, owned by Cheniere Energy.
Nov 21 (LNGJ) - The Bergen Group, involved in the energy, industrial, maritime and defence sectors, has become the latest Norwegian company to change its name after oil and gas company Statoil became Equinor. Bergen is changing its name to Endur ASA when it completes its merger with Endur Holdings AS, scheduled for the middle of the first quarter of 2019. “The word ‘Endur’ is derived from the old Norwegian language expression ‘endurnyja’ which means ‘renewing’. Endur is also a word with various meanings, and in front of the word energy it means ‘lasting energy’. The owners of Endur Holding have within a short time succeeded in establishing the Endur name as the name of an important supplier in the oil and gas market,” said the company.
Nov 20 (LNG) - Australian LNG producer Woodside has signed a long-term gas sale and purchase agreement with Perdaman Chemicals and Fertilisers of Western Australia for the supply of pipeline gas for a term of 20 years, primarily sourced from Woodside’s portfolio and proposed Scarborough development. The agreement is subject to a number of conditions and supply will commence between 2023 and 2025. “This is a significant domestic gas sale and represents another step towards the delivery of the proposed Burrup Hub,” said Chief Executive Peter Coleman. “The realisation of our vision for the Hub will ensure that the world-class North West Shelf and Pluto facilities on the Burrup Peninsula are positioned to meet both domestic gas and global LNG demand for decades to come,” he added.
Nov 20 (LNGJ) - The 140,000 cubic metres capacity carrier “Arctic Voyager” will deliver a cargo on November 22 to the Italian terminal offshore Tuscany from the Hammerfest plant in Norway operated by Equinor, according to shipping data. The 145,000 cubic metres capacity vessel “LNG Enugu” will deliver a cargo on November 23 to the Barcelona terminal in northeast Spain from the Nigerian export plant at Bonny Island. The 172,636 cubic metres capacity “Fedor Litke” is scheduled to deliver a cargo on November 24 to the Zeebrugge terminal in Belgium from the Yamal plant at Sabetta in Siberia. The 155,000 cubic metres capacity vessel “British Emerald” will deliver a shipment on December 1 to the Map Ta Phut terminal in Thailand from Atlantic LNG in Trinidad. The 160,500 cubic metres capacity vessel “Sonangol Etosha” will unload a cargo on December 2 at the Indian Dahej terminal, operated by Petronet, from the Angola plant in southwest Africa.
Nov 19 (LNGJ) - Spanish shipping company Balearia has begun retrofitting its “Napoles” ferry to be powered by liquified natural gas. The ferry, which operates on the Barcelona-Ibiza route, arrived at the Gibraltar Gibdock shipyard where it will be modified and have an LNG tank installed with a completion date set for February 2019. The two engines currently on the ship will be switched to dual-fuel LNG and diesel engines produced by the German-owned company, MAN Energy Solutions. Balearia said there were also plans for the retrofitting of its sister ship, the “Sicilia”, to have LNG capability.
Nov 19 (LNGJ) - The 210,100 cubic metres capacity Q-Flex carrier “Al Ghariya” will deliver a cargo on November 30 to the UK South Hook import terminal at Milford Haven in Wales from Ras Laffan 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 $9.05 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was lower at around $8.65 per MMBtu.
Nov 16 (LNGJ) - French maritime storage technology company GTT said it received an order from the South Korean shipyard of Hyundai Heavy Industries for the tank designs for two LNG carriers. GTT said each vessel would have capacity of 174,000 cubic metres and have been ordered by the Greek ship-owner TMS Cardiff. The tanks will be fitted with the Mark III Flex containment system and the vessels would be delivered at the end of 2020 and the beginning of 2021. “We are pleased to pursue our partnership of excellence with HHI shipyard and with ship-owner Cardiff which already owns four LNGCs equipped with GTT technologies and has nine LNGCs on order,” said Philippe Berterottiere, GTT Chairman and Chief Executive.
Nov 15 (LNGJ) - GasLog Partners, New York Stock Exchange-listed affiliate of Monaco-based GasLog LNG, said the partnership closed its acquisition from GasLog of all the shares in the LNG carrier “Methane Becki Anne”. The 170,000 cubic metres capacity ship with tri-fuel diesel-electric propulsion was delivered in 2010. “The vessel is currently on a multi-year time charter with a subsidiary of Royal Dutch Shell through March 2024. Shell has a unilateral option to extend the term of the time charter for a period of either three or five years,” said GasLog Partners.
Nov 14 (LNGJ) - The Abu Dhabi National Oil Company (Adnoc) has agreed in principle to extend to 2040 its gas supply agreements, in coordination with the Adnoc LNG joint venture partners, Mitsui of Japan, BP of the UK and France’s Total. “The new gas supply agreements are scheduled to take effect from April 1, 2019, replacing existing agreements, due to expire on March 31, 2019,” said Adnoc. The move is in line with the new integrated gas strategy in the United Arab Emirates that will sustain LNG production at the Das Island liquefaction facility. Adnoc LNG has signed seven term contracts for the supply of more than 4.2 million tonnes per annum of the fuel, mostly to Japan. The UAE last year exported a total of 5.59 million tonnes of LNG. “The LNG market is projected to grow at a robust pace, fueled by demand from Asia and developing countries who want access to a clean and affordable source of energy,” said Abdulaziz Alhajri, Head of Adnoc’s Downstream Directorate.
Nov 14 (LNGJ) - French LNG storage tank technology company GTT said it received an order from the South Korean shipyard, Hyundai Heavy Industries, for tank designs for a 174,000 cubic metres capacity LNG carrier on behalf of Greek ship-owner Thenamaris. “GTT will realize the design of the tanks of the vessel, which will be fitted with the Mark III Flex membrane containment system, a proven technology developed by GTT,” said the Paris-based company. The delivery of the ship from Hyundai is scheduled for the first quarter of 2021.
Nov 13 (LNGJ) - The 137,230 cubic metres capacity carrier “LNG Rivers” is unloading a cargo on November 13 at the Huelva terminal in southwest Spain from the Bonny Island plant in Nigeria, according to shipping data. The 210,100 cubic metres capacity Q-Flex carrier “Umm Al Amad” will deliver a shipment on November 14 to the Pakistani Port Qasim import facilities, located east of Karachi, from the Ras Laffan plant in Qatar. The 155,000 cubic metres capacity carrier “Gaslog Salem” will deliver a Qatargas cargo on November 18 to the Zeebrugge terminal in Belgium. The 138,088 cubic metres capacity vessel “Berge Arzew” will unload a shipment on November 18 at the Aliaga facility in Turkey from the Sonatrach-operated plant in Algeria.
The 155,000 cubic metres capacity vessel “Gaslog Savannah” will deliver a cargo on November 20 to the Japanese Hachinohe terminal, owned by Nippon Oil, from the Woodside Petroleum export facilities at Dampier in Western Australia. The 160,400 cubic metres capacity carrier “Cubal” will deliver a shipment on November 28 to the Indian Dahej terminal, owned by Petronet, from the Angolan plant in southwest Africa. The 266,000 cubic metres capacity carrier Aamira will deliver a Qatargas cargo to the South Korean Incheon terminal on December 3.
Nov 12 (LNGJ) - The first LNG shipment from the US since Beijing imposed a tariff on US imports has arrived on the 173,400 cubic metres capacity carrier “Ribera Duero Knutsen” from the US Sabine Pass plant in Louisiana operated by Cheniere Energy, according to shipping data. The vessel was unloading its cargo on November 12 at the Ningbo terminal in Zheijang province, operated by China National Offshore Oil Corp. The “Ribera Duero Knutsen” had departed Sabine Pass on October 10. This is the first US LNG cargo to be shipped to China since September 10.
Nov 9 (LNG) - The American Bureau of Shipping, the US classification society, said it was joining forces with a finance company and Scorpius Space Launch Company (SSLC) on the “Space Tech4Sea” project to adapt composite technologies developed for the space industry to LNG shipping. The European-based project has attracted a grant of more than 1 million euros ($1.13 million) from the European Commission. The project aims to apply lighter composite technology as a competitive alternative in LNG marine fuel tank designs, principally for short sea shipping. “Existing LNG tank technology can make adoption of the fuel prohibitively expensive. This composite technology has proven itself in other industries,” said ABS Vice President for Global Gas Solutions, Patrick Janssens.
Nov 8 (LNGJ) - JGC Corp., the Japanese energy and LNG engineering contractor, said it had 220 billion yen ($1.93 billion) of outstanding LNG contracts at the end of the latest quarter, including Yamal LNG in Russia, the Coral FLNG project offshore Mozambique and the Ichthys LNG project in the Northern Territory of Australia. JGC said the Ichthys plant owned by Inpex Corp. of Japan and French major Total, was the subject of contract disputes that have gone to arbitration. JGC is part of a consortium with KBR of the US and Japanese firm Chiyoda Corp. that built the Ichthys plant. “Additional costs incurred due to the increase in service scope and other factors should be reimbursed by the client under the agreement,” said JGC. “Some parts of the costs are disputed by the client and these unsettled claims are currently the subject of an arbitration process,” added JGC.
Another Ichthys project dispute concerns costs incurred by JGC and its partners from taking over a combined-cycle, gas-fired power plant design and construction adjacent to the LNG plant from the original Australian subcontractor who walked away from its subcontract agreement. “Our claims regarding these costs are currently the subject of an arbitration process,” stated JGC.
Nov 7 (LNGJ) - Inpex Corp, the Japanese oil and gas company and developer of the Ichthys LNG plant in Australia that delivered its first cargo in October to its own Naoetsu import terminal in Japan, said net energy sales decreased by 2.2 percent to 438.2 billion yen ($3.87Bln) in its fiscal first-half to the end of September. “Net sales of crude oil increased by 42.0Bln yen, or 12.7 percent, to 372.9Bln yen, and net sales of natural gas decreased by 52.8Bln yen, or 47.7 percent, to 57.9Bln yen,” said Inpex. Net income for the six months increased by 12.9 percent compared with the previous year to 34.0Bln yen ($300.7M) versus 30.15Bln yen in 2017. Inpex said it would expect to boost income in the second half with revenue generated from Ichthys LNG through March 2019.
Nov 7 (LNGJ) - The 216,000 cubic metres capacity Q-Flex carrier “Al Thumama” will deliver a cargo on November 21 to the UK South Hook import terminal at Milford Haven in Wales from Ras Laffan 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 $7.90 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was higher at around $7.95 per MMBtu.
Nov 6 (LNGJ) - The 210,100 cubic metres capacity Q-Flex carrier “Al Sheehaniya” was unloading a cargo on November 6 at the Indian Hazira terminal near Mumbai from Ras Laffan in Qatar, according to shipping data. The 217,000 cubic metres capacity vessel “Al Kharsaah” will unload a Qatargas shipment on November 11 at the Dahej terminal in India, operated by Petronet. The 172,000 cubic metres capacity carrier “Boris Vilkitsky” will deliver a cargo on November 16 to the Montoir-de-Bretagne terminal in Western France from the Yamal plant in Russia. The 155,000 cubic metres capacity vessel “British Emerald” will unload a shipment on December 1 at the Map Ta Phut terminal in Thailand from Atlantic LNG in Trinidad. The 155,000 cubic metres capacity vessel “Gaslog Santiago” has just departed from Point Fortin in Trinidad and is scheduled to deliver a shipment to an as yet unnamed Chinese terminal on December 3.
Nov 5 (LNGJ) - The 174,000 cubic metres capacity carrier “Pan Europe” is scheduled to deliver a US cargo on November 8 to the UK Dragon LNG import terminal at Milford Haven in Wales, owned by Royal Dutch Shell and Petronas of Malaysia, according to the port authority. The carrier lifted its cargo on October 19 from the Sabine Pass export plant in Louisiana. The delivery was heading for the UK as the nation’s National Balancing Point benchmark natural gas price was at the equivalent of $7.95 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was higher at the equivalent of $8.10 per MMBtu.
Nov 2 (LNGJ) - US LNG exports increased last week to seven shipments, five from Sabine Pass in Louisiana and two from Cove Point, according to the weekly natural gas report from the Energy Information Administration. An eighth LNG carrier was lifting a cargo from Sabine Pass through November 1. “The two cargoes exported from the Cove Point terminal were the first exports since the facility resumed LNG production after three weeks of scheduled maintenance,” said the report. The EIA also noted that the average January 2019 futures contract price is trading at a lower premium to the average spot price than last year at this time.
Price differences between the spot price and the futures price on the New York Mercantile Exchange “indicate limited economic incentives for injections into working gas” storage. “During the most recent storage week, the average natural gas spot price at the Henry Hub was $3.26 per MMBtu, and the Nymex futures price of natural gas for delivery in January 2019 averaged $3.33 per MMBtu, 7 cent per MMBtu higher than the spot price. A year ago, the January contract was 37 cents per MMBtu higher than the spot price,” it said.
Nov 1 (LNGJ) - Flex LNG, the Norwegian LNG carrier owner with a growing fleet, has named Harald Gurvin as its Chief Financial Officer from January 2019. Flex, whose shareholders include trusts controlled by Norwegian shipping magnate John Fredriksen, said Gurvin brings extensive shipping, finance and capital market experience. He has served as CFO of New York Stock Exchange-listed Ship Finance International since March 2012. From 2008 until 2012, Gurvin served as Senior Vice President at Ship Finance. Prior to joining Ship Finance in 2006, he spent seven years with the global shipping group of Fortis Bank in Oslo, focusing on shipping and offshore finance.
Nov 1 (LNGJ) - TransCanada Corp., the pipeline company that will transport feed-gas to LNG plants such as LNG Canada being developed by Royal Dutch Shell and its Asian partners in British Columbia, said it would move forward with a $1.5 billion expansion of its NOVA Gas Transmission Ltd. (NGTL) System to connect existing and new supply to incremental intra-basin market demand. “The NGTL System continues to expand as parties require and contract for greater pipeline capacity to meet the growing demand for clean-burning natural gas from domestic and export markets,” said Russ Girling, TransCanada’s President and Chief Executive. “This new investment brings the capacity expansion programs underway on the NGTL System to more than $9 billion,” added Girling. TransCanada noted that shippers had already executed 377 million cubic feet per day of firm receipt services from November 2021 that will connect incremental Montney shale gas and Deep Basin supply to the system.
Oct 31 (LNGJ) - Fluxys, the Belgian natural gas network operator and owner of the Zeebrugge LNG import terminal, has along with fund partners closed the purchase of an additional 35.76 percent stake in the French Dunkirk LNG terminal for an undisclosed sum. Fluxys, acting with consortium partners AXA Investment and French bank Credit Agricole Assurances, bought the stake held by French major Total and the utility EDF. Fluxys now owns 60.76 percent of the Dunkirk facility, one of France’s four import terminals, and the funds hold the balance of the shares. “Through the acquisition the Dunkirk LNG terminal is now part of the Fluxys group,” said the Belgian company of the terminal that started operations in January 2017. “Fluxys will join its LNG experience with the expertise of the Dunkirk terminal teams to move business forward, achieve top-notch operational, safety and environmental standards, and chart new commercial territory both in large-scale and small-scale LNG,” said Pascal De Buck, Chief Executive of Fluxys.
Oct 30 (LNGJ) - BP said natural gas, LNG and liquids contract sales jumped to $5.76 billion in the third quarter compared with $4.10Bln in the same three months a year ago. The UK major’s overall replacement cost profit before interest and tax for the third quarter and nine months was $3.47Bln and $10.16Bln respectively, compared with $1.24Bln and $3.2Bln for the same periods in 2017. “Our focus on safe and reliable operations and delivering our strategy is driving strong earnings and growing cash flow,” said Chief Executive Bon Dudley. “ Operations are running well across BP and we’re bringing new, higher-margin barrels into production faster through efficient project execution,” he added. “We have made very good progress with our acquisition from BHP (US shale assets) and expect to complete the transaction tomorrow (Oct 31). This will transform our position in the US Lower 48 and we expect it to create significant value for BP,” stated Dudley.
Oct 30 (LNGJ) - Chubu Electric Power Co., whose LNG procurement is handled by Jera Co Inc., a joint venture with Tokyo Electric Power Co., has merged its own regional domestic power and gas subsidiaries to better adapt to the deregulated Japanese market. Chubu Electric Power and Chubu Gas have formed a new company called CS Energy Services to be based in Toyohashi City in Aichi Prefecture. “CS Energy Services will fully harness the business foundation and management resources that Chubu Electric and Chubu Gas have garnered to provide competitive gas and electricity bundled plans based on a framework of security and stable supply,” said Chubu. CS Energy will particularly target corporate customers in the Higashi Mikawa region in Aichi Prefecture and the Seien region in Shizuoka Prefecture.
Oct 29 (LNGJ) - Qatar Gas Transport Co, also known as Nakilat, reported nine-month net profits of 659 million Qatari riyals ($181M), an increase of 8.5 percent compared with the same period of 2017. Nakilat’s core LNG shipping businesses was helped by an operational partnership with Royal Dutch Shell in the early years, though the vessels are now under Qatari control. Its fleet of almost 70 wholly and jointly-owned LNG vessels includes the Q-Flex and Q-Max carriers with up to 266,000 cubic metres capacity and four liquified petroleum gas carriers. “Nakilat’s improved financial performance bears testament to the company’s ongoing emphasis on enhancing efficiency, increasing productivity and pursuing growth strategies, without compromising safety and quality,” said Chief Executive Abdullah Fadhalah al-Sulaiti.
Oct 29 (LNGJ) - The 210,000 cubic metres capacity Q-Flex vessel “Al Kattiya” is scheduled to unload a shipment on November 1 at the Dalian import terminal operated by PetroChina in the Liaoning Province of northeast China from the Ras Laffan plant in Qatar, according to shipping data. The 172,000 cubic metres capacity carrier “Beidou Star” will deliver an Australian shipment on November 4 from Gorgon LNG, operated by Chevron Corp., to the Tangshan terminal in Hebei province owned by PetroChina.
The 147,100 cubic metres capacity vessel “Ibra LNG” will deliver a cargo from Oman on November 5 to the PetroChina Dalian facility. The 177,000 cubic metres capacity carrier “Spirit of Hela” is delivering a cargo on November 8 to the Qingdao terminal, operated in Shandong province by Sinopec, from the Papua New Guinea export plant.
The 173,400 cubic metres capacity vessel “Ribera del Duero Knutsen” is scheduled to unload a shipment on November 11 at Sinopec’s Tianjin terminal, the nearest port to the capital Beijing, from the US Sabine Pass plant in Louisiana, owned by Cheniere Energy. The 216,200 cubic metres capacity carrier “Al Gattara” is delivering a Qatargas cargo on November 15 to the Dalian terminal of PetroChina.
Oct 26 (LNGJ) - Global commodities trading firm Vitol will import a US LNG cargo to the UK import terminal at South Hook in the port of Milford Haven on October 31 onboard the 160,000 cubic metres capacity carrier “Yari LNG”. The South Hook terminal, jointly owned by Qatar Petroleum and ExxonMobil, will make available terminal capacity rights to regasify the Vitol shipment from the Sabine Pass pant in Louisiana.
Oct 26 (LNGJ) - Sembcorp Marine, the Singapore maker of offshore platforms and with a ship repair yard catering for LNG carriers, posted ninth-month revenues of S$3.97 billion (US$2.82Bln) and a third-quarter loss of S$29.8 million compared with a profit of S$100.7M in the third quarter of 2017. The company is expected to increase its participation in the LNG sector after completing the acquisition of LNG technologies from buying Sevan Marine of Norway. On a quarterly basis, Sembcorp turnover for the third quarter was S$1.17Bln versus S$729 million in the same three months of 2017. “The higher revenue was due to higher percentage recognition of the two Transocean drillships, the “Johan Castberg FPSO”, the “Shell Vito FPU” and the “Karish FPSO” projects,” it said. “The majority of recent new offshore oil and gas orders were for production projects. This trend is expected to continue and Sembcorp is responding to an encouraging pipeline of enquiries and tenders for innovative engineering solutions,” added the company.
Oct 25 (LNGJ) - Equinor, the Norwegian state-backed energy company and operator of the Hammerfest LNG plant in northern Norway, said third-quarter net income more than doubled to US$1.98 billion compared with $819 million in the same three months of last year. Net operating income was $4.59 Bln versus $1.09Bln in the year-ago period. “The significant increase was primarily due to higher liquids and gas prices, increased gas volumes and a net reversal of impairments compared to 2017,” said President and Chief Executive Eldar Saetre.
Oct 24 (LNGJ) - The 174,000 cubic metres capacity carrier “Maran Gas Spetses” is scheduled to deliver an Egyptian cargo on October 31 to the UK Dragon LNG import terminal at Milford Haven in Wales, owned by Royal Dutch Shell and Petronas of Malaysia, according to shipping data. The carrier departed on October 23 from the Shell-operated Idku export plant, located east of the port of Alexandria. The delivery was heading for the UK as the nation’s National Balancing Point benchmark natural gas price was at the equivalent of $8.50 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was slightly lower at the equivalent of $8.45 per MMBtu.
Oct 24 (LNGJ) - Norwegian energy and LNG project engineering company Aker Solutions posted third-quarter net income of 155 million Norwegian crowns ($19 million) compared with 124M crowns in the same three months a year ago. Revenues amounted to 6.54 billion crowns ($790M), a rise of 21 percent compared with the 5.41Bln crowns logged in the year-ago quarter. Orders totaled 5.9Bln crowns in the quarter, bringing the backlog to 36.1Bln crowns. “Our order intake in the quarter more than doubled versus the same period a year earlier and we're seeing high tendering activity in all our markets,” said Luis Araujo, Chief Executive of Aker Solutions. The company said it was bidding for contracts totaling about 45Bln crowns. “About two-thirds of these are in the subsea area, where the company expects key projects to be awarded over the next six to 12 months, including in Brazil, the UK, Africa, Australia and Asia Pacific,” added Aker.