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In this issue

 

Meridian LNG, controlled by Canadian equity fund West Face Capital Inc., and E.ON Global Commodities (EGC), the trading unit of the Germany-based utility, have entered into a 20-year sales agreement for LNG to be delivered into a new UK regasification terminal in Cumbria, northwest England.

The first liquefied natural gas-fuelled ferry to be deployed in North American waters has arrived in the Canadian province of Quebec where it will operate on the Saint Lawrence River.

Friday, 27 November 2015

April 24 (LNGJ) - Energy and LNG engineer company Chicago Bridge and Iron posted net income for the first quarter of $132.2 million, an increase of 40 percent compared with the same period in 2014. Revenue amounted to $3.1 billion, up from $2.9Bln, from the year-ago period. New contract  awards for the first quarter totalled $3Bln, taking the backlog up to $30Bln

Nordic liquefied natural gas operator Skangass said it was making progress in the construction of the storage tank for Finland's first LNG import terminal at the southern port of Pori.

GDF-Suez, the European utility and LNG player, has rebranded itself and will now be known as ENGIE to reflect the "profound change" in the energy world.

News Nudges

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.