LNG

Potential for liquefied natural gas demand growth in both Japan and South Korea is limited as total gas-fired power consumption has fallen for five consecutive years and nuclear generation is gradually returning to service, likely reducing natural gas demand in the two largest LNG consuming nations, according to a US report.

Sevan Marine, the Norwegian engineering and project company for offshore production units, posted another net loss as a feasibility study was continuing for a floating liquefied natural gas field development with a US oil major company.

Hoegh LNG, the Norwegian fleet owner and developer of import facilities using floating storage and regasification units, saw quarterly net profits drop, though business prospects were bright in South America with the start of an LNG project soon in Colombia and another on the horizon in Chile.

Pavilion Energy of Singapore, the liquefied natural gas player backed by the city state’s Temasek wealth fund, has advanced with its plans to develop small-scale LNG projects in Southeast Asia by signing an accord with Indonesia.