In this issue

 

South Korean LNG demand is forecast to grow to 40.49 mill tonnes in 2031, up 11.1% from this year’s estimated 36.46 mill tonnes, the South Korean Ministry of Trade, Industry and Energy (MOTIE) said in its latest supply plan. 

CNOOC is reportedly tendering for LNG cargoes for delivery up to 2022. 

Thursday, 12 April 2018

India’s state-owned GAIL (India) said it will receive about 90 LNG cargoes annually from the US Sabine Pass and Cove Point LNG terminals.

Thursday, 12 April 2018

ExxonMobil has imported an LNG cargo to keep the tanks cold at its Papua New Guinea LNG facilities, near the capital Port Moresby.

BP is targeting the shipment of 119 LNG cargoes from its Tangguh project in Indonesia’s West Papua province this year, including 22 for the domestic market, a company official said. 

Soma LNG Terminal, located in Shinchi Town in Fukushima prefecture, commenced operation on 28th March, Japan Petroleum Exploration (JAPEX) said.

Petronas’ subsidiary, Malaysia LNG Sdn Bhd (MLNG) delivered its first LNG cargo to Japan’s Hokuriku Electric Power Co on 17th March, 2018. 

Thursday, 12 April 2018

Qatargas and the Electricity Generating Authority of Thailand (EGAT) have signed a memorandum of understanding (MoU) to ‘explore collaborative efforts in the LNG business’.

Singapore has received its first LNG import cargo for its own use.

Kawasaki Kisen Kaisha (K Line) has secured a $180 mill refinancing package for two of its LNGCs.

Thursday, 12 April 2018

LNG and LPG carrier owner EXMAR has reported a consolidated result after tax of $28 mill for 2017, compared to $40.4 mill for the previous year.

Thursday, 12 April 2018

Mitsui OSK Lines (MOL) first Arc7 ‘Vladimir Rusanov’ loaded a cargo 27th - 28th March at Sabetta.

Thursday, 12 April 2018

Alfa Laval has won an order to supply Framo pumping systems to an FLNG to be built in South Korea.

Höegh LNG Holdings has taken delivery of ‘Höegh Esperanza’, its eighth FSRU.

News Nudges

Teekay LNG Partners declares distribution

Teekay GP LLC, the general partner of Teekay LNG Partners has declared a cash distribution of $0.14 per common unit for the quarter ended 31st March, 2018. The cash distribution is payable on 11th May, 2018 to all common unitholders of record as at 4th May, 2018.


GTT receives more orders

At the end of March, GTT received orders from Daewoo and Hyundai for the design of the LNG tanks for three LNGCs. Two of the 173,400 cu m LNGCs will be built at DSME's Geoje shipyard for a European shipowner. The tanks will be fitted with the NO96 GW technology. Their delivery is expected for the first half of 2020. The Hyundai order is for a Mark III Flex cryogenic membrane containment system to be fitted on board a 180,000 cu m LNGC, also for an European owner. Her delivery is scheduled for March, 2020.


New orders and rumours

Knutsen has firmed up an option for another 180,000 cu m LNGC at HHI for 2020 delivery. A build-operate-transfer (BOT) contract for two 174,000 cu m has also been awarded to HHI by Japanese interests for 2020 deliveries. Cosco Shipping Energy could be on the brink of ordering more LNGCs, as the company has said it wants 38 LNGCs by 2020. Alpha Gas has finally decided to increase its LNG fleet by ordering two 173,400 cu m vessels from DSME. Samsung Heavy Industries has won a deal worth $368 mill to build two 174,000 cu m LNGCs for an undisclosed company. The deal is subject to approval of the client's board of directors, which Samsung described as a formality in a filing. Deliveries are scheduled by October, 2020.