The US Liquefied Gas Carrier National Centre of Expertise (LGC NCOE) recently delivered a three-day LNG training seminar to the Panama Canal Authority, Panamanian Government and local first responders.
Cochin Shipyard’s (CSL) bid to build a larger drydock at its shipyard at Thevara, which will enable it to construct large LNGCs, has been granted environment and CRZ clearance from the Indian Union Ministry of Environment, Forest and Climate Change.
The Harris Pye Engineering Group has been awarded a contract by an unnamed Chinese LNG company to convert six large LNGCs to burn low sulphur diesel oil (LSDO), with options for further conversions.
Keppel Shipyard Limited has begun ordering long lead items (LLI’s) required for the conversion of a GasLog or GasLog Partners LP LNGC into an FSRU.
In its third quarter results presentation (see page 5), Höegh LNG gave a glimpse into the future of FSRUs and LNGCs.
Centrica has signed a Memorandum of Understanding (MOU) with Tokyo Gas, Japan’s largest natural gas utility, aimed at consolidating their respective gas cargoes.
Golar LNG Limited has closed its increased registered offering of 7,475,000 shares of its common stock.
Golar Power has claimed to have reached a milestone in the Brazilian Sergipe Project with the signing of a long-term LNG sale and purchase agreement (SPA).
Ophir Holdings & Ventures (Ophir) and OneLNG have signed a shareholders agreement to establish a joint operating company (JOC) to develop the Fortuna project.
Two ‘peak shaving’ tenders have been awarded in Italy. OLT Offshore’s ‘peak shaving’ service has been awarded for the supply of 105,000 cu m of LNG to the ‘FSRU Toscana’.
With all units operating in accordance with their long-term contracts, Höegh LNG Holdings and its subsidiaries delivered another quarter with stable operating results, the company claimed.
H-Energy and a consortium comprising of Korea Gas Corp, SK Shipping, Fairwood Peninsula Energy and Korea Development Bank, have reportedly signed an MOU to develop FSRU and pipeline technology in India.
Norwegian quoted LNGC owner Awilco LNG (ALNG) has narrowed its losses to $4.2 mill in the third quarter of this year, down from $11.5 in the second quarter and a $36.3 mill loss reported for 2015.
Dynagas LNG Partners has announced that distributable cash flow during the three and nine months ended 30th September, 2016 was $23 mill and $68.3 mill, respectively.
Applications to export US LNG
The US Department of Energy (DoE) has received two applications to export LNG. One application was received from Freeport LNG Development for authorisation to export previously imported LNG on a short-term basis. The second application concerned Dominion Cove Point LNG, who asked for authorisation to export previously imported LNG on a short-term basis. Comments must be received by 12th May, the DoE said.
Three elderly LNGCs sold
Broking sources have reported the sale of 1978-1979- built LNGCs ‘LNG Leo’, ‘LNG Gemini’ and ‘LNG Virgo’, to Sinokor. They are of 126,750 cu m capacity and are fitted with GE turbines. No price indication was given.
Höegh takes delivery of another FSRU
Höegh LNG took delivery of its latest FSRU newbuilding, the 170,000 cu m ’Höegh Giant’, on 27th April. The FSRU was built by the South Korean shipbuilder, Hyundai Heavy Industries and will be moored at the Tema LNG Project in Ghana under a 20-year charter contract with Quantum Power (QP), who also has a further five year option period. Start-up is expected in the middle of next year. Höegh LNG has three more FSRUs under construction, which are scheduled for delivery in the first and fourth quarters of 2018, and the second quarter of 2019, respectively. “We have 10 FSRUs in operation or under construction, and intend to continue growing by winning more contracts and adding to our newbuilding programme, while seamlessly starting up commercial operations in new locations. Our ambition is to remain the market leader in the FSRU industry,” Sveinung Støhle, President and CEO, said.
GasLog extends charter - drops down another LNGC
On 28th April, 2017, GasLog signed an amendment to the ‘GasLog Skagen’ seasonal timecharter agreement, by which the seasonal charter was replaced by a continuous timecharter for 2.4 years, due to end in August, 2019. The amended charter will cover the same number of fixed days as the previous seasonal charter and will eliminate redelivery risks at the beginning and end of each seasonal period. In addition, the amended charter will provide assurance of revenue through August, 2019. In addition, GasLog has confirmed that GasLog Partners has completed the acquisition of 100% of the shares in the entity that owns and charters the 174,000 cu m, tri-fuel LNGC ‘GasLog Greece’. She has been operated by GasLog since her delivery in 2016 and is currently on a long-term timecharter with a wholly owned subsidiary of Royal Dutch Shell through March, 2026. Shell has the option to extend this charter by an additional five years.