In this issue

 

Thursday, 13 June 2019
After another record year, global demand for natural gas is forecast to keep growing over the next five years. This growth pattern will be driven by strong consumption in the…
Thursday, 13 June 2019
GasLog Ltd, GasLog Partners and Golar LNG are to assume commercial control of their respective LNGCs currently operating in the spot market through The Cool Pool.
Thursday, 13 June 2019
The increasing supply of competitively priced LNG and a diverse set of demand factors for this fuel – including environmental motivation – support demand for FSRUs, since these provide the…
Thursday, 13 June 2019
India's Petronet LNG has completed its expansion programme at its Dahej LNG import terminal. The expansion project is due to become fully operational by the end of this month, according…
Late last week, the US Department of Energy (DOE) approved additional exports of domestically produced natural gas from the Freeport LNG Terminal located on Quintana Island, Texas.
Cheniere Energy’ Board has approved a comprehensive capital allocation framework and has agreed FID for Train 6.
During last week’s official visit of the Chinese President Xi Jinping to Russia, PAO NOVATEK, Sinopec and Gazprombank signed a Heads of Agreement to establish a joint venture to market…
Total is to takeover Toshiba’s LNG portfolio in a bid to become a major US LNG player. This includes a 20-year tolling agreement for 2.2 mill tonnes per annum of…
Flex LNG Ltd has reported a net loss of $3.4 mill and loss per share of $0.06 for the first quarter 2019, compared to net income of $15.2 mill and…
Höegh LNG Holdings has reported total income of $84.3 mill for the first quarter of 2019, compared with $122.3 mill in the preceding quarter.
Thursday, 13 June 2019
Dynagas LNG Partners announced that the net Income for the three months ended 31st March, 2019 was $1.9 mill, compared to $4.8 mill in the corresponding period of 2018, a…
Thursday, 13 June 2019
EXMAR has completed the commissioning of the ‘Tango FLNG’.
Nakilat-Keppel Offshore & Marine (N-KOM) completed its 200th LNGC repair recently.
On 5th June, 2019, Mitsui OSK Lines (MOL) signed a Memorandum of Understanding with the St Petersburg-based Admiral Makarov State University of Maritime and Inland Shipping. This MOU reconfirms and…

News Nudges

Ferrol receives first Corpus Christi gas cargo

Ferrol’s Reganosa’s receiving terminal recently welcomed its inaugural LNG cargo from Corpus Christi, Texas, which was also the first to be delivered from the Texas plant to a Spanish receiving terminal. The gas, a Trafigura cargo, was shipped on the LNGC ‘Excalibur’. Corpus Christi is the third largest US LNG export facility and began operations last December.


‘Prelude’ exports first cargo

On Monday, Shell shipped the first LNG cargo from the delayed FLNG ‘Prelude’ moored off northwest Australia. “Today’s (Monday’s) first shipment of LNG departed from ‘Prelude’ FLNG, safely,” Shell’s integrated gas and new energies director, Maarten Wetselaar, said in a statement. The cargo was shipped on the LNGC ‘Valencia Knutsen’ to Asian customers, Shell said, without giving any other details. “How fast ‘Prelude’ delivers its second and third cargo and ramps up to plateau output will be a key indicator of success,” said Daniel Toleman, an analyst at Wood Mackenzie, talking with Reuters.


Board changes at Teekay LNG Partners

Teekay GP LLC, the general partner of Teekay LNG Partners, has announced changes to its Board. Effective immediately, Alan Semple, David Schellenberg, Richard Paterson, and Sylvia Barnes have joined the Board, and director Kenneth Hvid, became Chairman. Hvid is also the President and CEO of Teekay Corp, which owns the company. “Alan, David, Richard, and Sylvia bring a wealth of operational and financial expertise to Teekay LNG Partners,” Hvid said. “We are very pleased that they have all agreed to join the Board, and we look forward to their contributions, as we continue to execute on Teekay LNG’s strategy in the years to come.” In connection with these new appointments, Ida Jane Hinkley, Joseph McKechnie and Beverlee Park, have stepped down.


‘‘WilForce’ damaged in collision

On 30th May 30, 2019, Awilco LNG reported that the LNGC ‘WilForce’ was struck by another vessel off Singapore. No crew injuries or spills were reported. The vessel has arrived at a Singapore shipyard for class inspection and hull repairs. It was unclear how long the vessel will be offhire, the company said. The vessel has full insurance cover for repair expenses and loss of hire, subject to deductibles. Based on a preliminary assessment, Awilco holds the other vessel fully and completely liable for the collision, and the company expected to recover all costs, losses and expenses including deductibles in due course, it said.


Market News

Awilco has secured an eight-month timecharter from an undisclosed oil and gas major for the 2013-built 156,000 cu m LNGC ‘WilPride’. The charter is scheduled to commence next month and will contribute an annualised EBITDA of about $23 mill during the charter period, the company said. Meanwhile, newbuildings continued to be reported. Samsung has confirmed that it had received an order for two LNGCs worth $380 mill in total from a Bermudan company. They are to be delivered by the end of 2022. Later reports suggested that Flex LNG was behind the order. Maran Gas Maritime has ordered another LNGC at Daewoo. The 174,000 cu m LNGC is the fifth ordered at DSME and is due for delivery by the first half of 2022.