During the third quarter and by the middle of the 4Q17, there was continued momentum in the start-up of new LNG liquefaction capacity, GasLog Partners said in a market review.
ENGIE has renewed a regasification and storage services contract with Chinese energy group CNOOC for the coming winter season.
Shell has recently invested in an LNG tank storage facility adjacent to Gibraltar’s North Mole.
Turbo-machinery manufacturer Atlas Copco Gas and Process Division has secured compressor orders for the Asian LNGC market.
China COSCO Shipping Corp is to take an equity stake in MOL’s wholly-owned subsidiary that will own four LNGCs under construction to serve the Yamal LNG project.
Pakistan’s Engro Corp expects to bring its second LNG terminal on stream in early 2019, according to a Reuters report.
Philippines-based AG&P (Atlantic, Gulf and Pacific Co) has signed a contract with Karaikal Port (KPPL) to develop an LNG import terminal.
Malaysian state energy company Petronas has signed a three-year LNG supply agreement with JERA.
Malaysian shipping group MISC Berhad (MISC) posted a net profit of RM680.5 mill ($160.8 mill) for the third quarter of 2017, more than quadrupling last year’s equivalent of RM134.2 mill.
GasLog Ltd reported revenues of $131.2 mill for the third quarter of this year, compared to $120.7 mill in 3Q16.
GasLog Partners reported higher third quarter 2017 revenues, profit, adjusted profit and EBITDA of $73.4 mill, $25.4 mill, $25.6 mill and $53.7 mill, respectively.
Teekay LNG Partners reported a GAAP net loss of $18.9 mill (including a $38 mill write-down of conventional tankers) and adjusted net income of $20.9 mill for the third quarter of 2017.
Egypt is expected to award a 12-cargo LNG tender to Spain’s Gas Natural Fenosa and three Swiss-based trading houses.
Wison Offshore & Marine has signed a memorandum of agreement with KBR to co-operate on a 1.5 mill tonnes per annum FLNG liquefaction unit in Southeast Asia.
Wheatstone exports first cargo
On 31st October, 2017 Chevron Australia announced that its first shipment of LNG had left Wheatstone, located 12 km west of Onslow in Western Australia. The cargo shipped on the recently delivered LNGC ‘Asia Venture’ will be delivered to JERA for delivery into Japan. She is currently on voyage to Tokyo, where she is scheduled to arrive on 10th November, according to Marine Traffic’s AIS data. The Bahamas-flagged vessel is one of six new LNGCs recently added to Chevron’s fleet. “The first shipment of LNG from the Wheatstone Project signifies our commitment to be a safe and reliable long-term supplier of cleaner-burning natural gas for our customers in the Asia/Pacific region,” Nigel Hearne, Chevron Australia Managing Director, said. At full capacity, the Wheatstone Project’s two train LNG facility is expected to contribute around 6% of the Asia/Pacific region’s total future LNG production, delivering 8.9 mill tonnes per year of LNG for export to customers in Asia, according to the company.
Woodside Energy signs deal with RWE
Australian oil and gas company, Woodside Energy, has signed a sales agreement with Germany's RWE for the delivery of up to 12 LNG cargoes by the end of this decade. "This agreement illustrates further diversification of Woodside's buyer relationships and the increasing interaction between Asia/Pacific and Atlantic LNG participants," Woodside CEO Peter Coleman told Platts. The sales agreement calls for the delivery of up to 12 cargoes between April, 2018 and March, 2020. Woodside, which produces LNG in Western Australia at the North West Shelf, Pluto LNG and Wheatstone LNG projects, would not comment on the commercial details of the deal, Platts said.
Iran signs first gas-to-LNG contract
The National Iranian Oil Co (NIOC) was believed to have signed a 20-year contract for the sale of gas to be shipped as LNG. NIOC reportedly signed the deal with IFLNG, a joint venture between Norwegian-based Hemla and Iran’s Khark Gas Refining Co, according to a report from the Iranian Ministry of Petroleum’s news portal, Shana. Gas originating from the South Pars gas field’s seventh refinery will be delivered via the Caribbean FLNG unit, which is owned by Belgium’s Exmar, the portal claimed. A total of 500,000 tonnes per year of production from the unit is expected.