LNG

Tellurian Inc. appears to be set to renew its preliminary liquefied natural gas supply and equity investment deal with Indian importer Petronet LNG as the US firm’s shares jumped by more than 56 percent on the Nasdaq global exchange after leaks by executives.

Clean Energy Fuels Corp., the LNG and compressed natural gas filling station company with a network of 550 stations across the US and Canada and partly owned by French major Total, has signed multiple station expansion and supply contracts to accommodate demand for ultra-low carbon fuel for trucks and buses.

European classification society DNV GL entered into a joint development project with Chinese Huangpu-Wenchong Shipbuilding Co. for LNG dual-fuel containership.

Canada has a tremendous opportunity to supply large populations with cleaner burning natural gas, a new report claims.

NorthStar Midstream, a portfolio company of funds managed by Oaktree Capital Management, has formed Polaris New Energy (PNE), a transport company focused on the shipping and distribution of LNG along US coastal and inland waterways.

NorthStar has also signed an agreement with Fincantieri Bay Shipbuilding to build a 5,400 cu m barge, with the ability to potentially construct two sister barges.

With a suitable tugboat, the barge will operate as an articulated tug and barge unit (ATB) that will initially operate along the US East Coast providing LNG bunkers to NorthStar’s customers.

PNE will be sourcing LNG from JAX LNG, the new LNG production facility in Jacksonville, Florida created through a partnership between NorthStar and Pivotal LNG.

The ATB will be fitted with four 1,350 cu m IMO Type ‘C’ tanks and will be fitted with a cargo handling system designed and developed by Wärtsilä. Her dimensions will be 340 ft overall length, 66 ft beam, and a depth of 32 ft10 ins. The ATB will be an ABS classed barge.

Tim Casey, NorthStar Midstream Executive President of LNG,explained: “The construction of this barge will expand our ability to solve the logistics behind delivering LNG to our customers in both an economical and safe manner.

“As domestic natural gas continues to rise, LNG has quickly become both a clean and competitively priced fuel alternative. We see increased domestic industries looking to LNG as their future fuel source, and we are extremely excited to be on the forefront of LNG domestic marine transportation. This is a first step in Oaktree and NorthStar’s strategy to create a complete platform of LNG logistical solutions for US customers, ” he said.

Todd Thayse, Vice President and General Manager of Fincantieri Bay Shipbuilding, added: “Entry into the US LNG transportation vessel market has been a strategic interest of our organisation. Partnering with NorthStar and its affiliate companies on this project gives us the opportunity to be part of this exciting emerging industry and related market growth.

“As we put this project into place, we will bring the expertise of Fincantieri and our own designs to the LNG market. The hard working women and men of Fincantieri Bay Shipbuilding are well prepared and eager to begin, providing the eventual on-time delivery and quality the maritime industry has come to know and expect from our shipyards,” he said.

Mitsui OSK Lines (MOL) is to more than double its fleet of FSRUs to take advantage of a construction boom for gas-fired power stations in developing regions, such as in Southeast Asia. 

Chart Industries, the US LNG equipment-maker and supplier to the liquid gas sector, posted a surge in annual sales to $1.08 billion from $842.9 million the previous year amid prospects of up to $500M of potential large LNG-related orders in 2019.

Amid rising tensions, PetroChina considers suspending its US LNG purchases for delivery this winter. Location swaps of cargoes might help sort matter, with Japan and South Korea expected to step up imports of American LNG in order to sell some cargoes onward to Chinese buyers.

Panama’s $1.15 billion AES Colón venture, an integrated LNG import terminal and power plant, is due to start full commercial operation on September 1. Investors inaugurated the project this week.

One-in-five LNG cargoes setting sail from Sabine Pass are heading to Mexico this year while demand from Argentina and Brazil remains sluggish. Mexico imported 29 cargoes from the US in H1-2018, according to data from the U.S. Department of Energy (DoE).