In this issue

 

Thursday, 11 May 2017

In its first quarter 2017 earnings report, GasLog took a look at the markets. 

The number of LNGCs transiting the Panama Canal could average one per day by 2021. 

Cheniere Energy has reported first quarter 2017 revenue of $1.1 bill, while consolidated adjusted EBITDA was $483 mill. 

Late last month, the US Department of Energy (DoE) announced that it had signed an order authorising Golden Pass Products to export domestically produced LNG to countries that do not have a free trade agreement (FTA) with the US. 

John Fredriksen’s Flex LNG is attempting to finance the purchase of two MEGI LNGCs currently under construction at Daewoo Shipbuilding and Marine Engineering (DSME). 

ENGIE and the AES Corp are to enter into a joint venture to market and sell LNG to third parties in Central America.

GasLog and its subsidiaries have announced revenues of $128.3 mill, a profit of $23.4 mill and earnings per share of $0.08, for the first quarter of this year. 

Thursday, 11 May 2017

Gas carrier owner and manager Exmar has reported a loss after tax of $4.1 mill for the first quarter of this year, compared with a profit of $9.3 mill in 1Q16 on a turnover of $21.5 mill, compared with $25.5 mill in the same period the year before. 

Thursday, 11 May 2017

Awilco LNG suffered a loss of $10.4 mill in the first quarter of this year, compared to a loss of $2.5 mill in 4Q16. 

Thursday, 11 May 2017

Gas carrier, tanker and offshore owner, MISC Bhd, recorded a 18% rise in net profit for its first quarter of 2017, as revenue expanded 25%. 

RasGas delivered its 2,000th cargo of LNG to Korea Gas Corp (KOGAS) on 25th April, 2017. 

TMC Compressors (TMC) has won a contract from Hyundai Heavy Industries to supply a complete marine compressed air system to a newbuilding FSRU building for Höegh LNG. 

Marine loading arm manufacturer, Woodfield Systems, is now under new ownership following a management buyout (MBO) by four of its senior management team.

Qatargas recently delivered the first natural gas cargo to China National Oil Corp’s (CNOOC) Yuedong LNG terminal. 

News Nudges

CLNG welcomes Jordan Cove LNG membership

Jordan Cove LNG has joined the US-based Center for Liquefied Natural Gas (CLNG) organisation. The company operates the Jordan Cove LNG export facility that is claimed will establish Coos Bay, Oregon, as the premier energy centre on the US West Coast. CLNG said that it looked forward to working with Jordan Cove LNG to raise awareness of the many uses of LNG, educate the public on the successes of LNG and bring LNG to market, safely, efficiently and quickly. Charlie Riedl, CLNG executive director, said: “CLNG welcomes Jordan Cove LNG and believes this addition displays how vibrant the future is, not just for our organisation, but the industry at large. CLNG’s membership is diverse, effective, and growing, much like the US and global LNG market.” Betsy Spomer, Jordan Cove LNG CEO, said:“We’re delighted to be joining the Center for LNG and share CLNG’s commitment to improved understanding of LNG and public policies advancing the use of LNG. Enlisting CLNG’s expertise and experience will help to reinforce our efforts to move the Jordan Cove LNG facility at Coos Bay forward.”


Samsung in small LNGC orders

Samsung Heavy Industries (SHI) has won a contract from Korea Gas Corp (KOGAS) to build two small-scale LNGCs. Under the terms of the $100 mill contract, the ships are expected to be delivered in May and December, 2019. The 7,500 cu m vessels, to be equipped with KC-1 cargo containment systems, are intended to transport LNG from Tongyeong, Gyeongsangnam-do, to Jeju Island. One of the two carriers will be capable of undertaking LNG bunkering. This new contract, signed on 22nd May, means that SHI’s has developed what it called a “leading track record in KC-1 LNGCs, as well as expanding into small-scale LNGCs and LNG-bunkering vessels,” the shipyard said in an announcement. Thus far this year, SHI has won orders for $2.3 bill worth of vessels, including three LNGCs, the company said. KC-1 was developed by KOGAS in co-operation with South Korea’s big three shipyards. SHI had previously won an order to build the first-ever pair of KC-1 fitted 174,000 cu m LNGCs in 2015.