In this issue


Free ReadLNG demand faced several headwinds during the first quarter of this year, GasLog said in a review published with its first quarter 2020 results presentation (see page 7). A warmer…
Due to the current pandemic, low gas prices and oversupply, LNG developers are re-examining this year’s strategies and capex plans.
With continued support in US Henry Hub natural gas prices reaching near parity with European gas benchmarks, at the end of last month, less US LNG imports will be destined…
Qatar Petroleum (QP) recently secured slots to building eight, option eight 175,000 cu m LNGCs at China’s Hudong–Zhonghua Shipbuilding in what is being described as the largest LNGC order yet…
Thursday, 14 May 2020
Free ReadUS LNG developer NextDecade Corp is thought to be still planning to take a final investment decision (FID) on its proposed Rio Grande LNG export plant in Texas this year.…
Thursday, 14 May 2020
Texas-based Freeport LNG began commercial operations on its third liquefaction train on 1st May.
Thursday, 14 May 2020
A private energy infrastructure company has agreed to buy Magnolia LNG from its parent, Australia's LNG Limited’s administrators.
Free ReadBangladesh’s Energy Ministry is to import LNG using the spot market to benefit from the current low gas prices. Several committees have been formed to look into importing spot LNG…
Teekay Corp and Teekay LNG Partners have signed an agreement to eliminate all of the Partnership’s incentive distribution rights (IDRs) in exchange for 10.75 mill newly-issued Teekay LNG common units.
LNG and LPG carrier owner, EXMAR, reported an EBITDA of $30.8 mill for the first quarter of this year, compared to $13.6 mill for 1Q19.EBIT for the first quarter was…
Free ReadGasLog Ltd has reported a first quarter 2020 loss of $39.4 mill, compared to a $5.9 mill profit for the quarter ended 31st March, 2019. The loss attributable to GasLog’s…
Thursday, 14 May 2020
The Awilco LNG Group reported net freight income of $12.9 mill for the first quarter of this year, compared with $16.3 mill in 4Q19.
As at April 27, 2020, more than 1,100 LNG cargoes totalling over 75 mill tonnes had been produced, loaded and exported from Cheniere’s liquefaction projects, the company said in its…
Wison Offshore & Marine’s (WOM) 200,000 cu m LNGC design has received Approval in Principle from DNV GL.

News Nudges

OLT Offshore outlines forward capacity

OLT Offshore LNG Toscana has confirmed that the products in which the continuous capacity is made available for allocation from gas year 2021/2022 to 2032/2033 has been published on its website. This allocation implements new terms introduced by the Regasification Code approved on 24th March, 2020, by the Italian Regulatory Authority for Energy, Networks and Environment (ARERA). One of the key changes is the possibility for users to express a preference for both 155,000 cu m and 180,000 cu m capacity slots in the annual and multi-year allocation. OLT will offer six 180,000 cu m slots and 34 x 155,000 cu m slots. Offers can be submitted through the PAR from 27th May, 2020.

FERC asked to continue monitoring projects

Five US Representatives have sent a letter to the Federal Energy Regulatory Commission (FEC), asking for business to continue as usual during the pandemic. The letter, addressed to FERC Chairman, Neil Chatterjee, called for an outright rejection of a moratorium on approving and constructing new LNG projects during the COVID-19 pandemic, saying that such measures were essential to energy security.

Gasum closes acquisitions

Nordic energy company Gasum closed the acquisition of Linde AG’s LNG and Biogas business in Sweden and Norway and Nauticor’s Marine Bunkering business in Germany on 30th April, 2020. In the transactions, around 35 employees, a customer base and several assets were transferred to Gasum. The businesses generate annual revenues of more than €100 mill. On 6th May, Gasum subsidiary the Hamburg based LNG supplier Nauticor, conducted the first ship-to-ship LNG bunkering operation on a product tanker in Germany. The bunkering operation on ‘Ramelia’ was conducted at Brunsbüttel on the river Elbe.

Senior management changes

GasLog and GasLog Partners CFO, Alastair Maxwell, is to step down from his position on 30th June, 2020. As a result, Achilleas Tasioulas, currently Deputy CFO, will be promoted to CFO on 1st July, 2020. Maxwell’s resignation is due to GasLog’s decision to relocate its senior management, including the CFO, to Greece. Golar LNG Partners has appointed Karl Fredrik Staubo as an interim CEO. This follows Graham Robjohns, decision to step down from 30th April, 2020 as announced last year.

GasLog’s two new LNGCs

On 11th May, GasLog took delivery of the ‘GasLog Wales’, an 180,000 cu m LNGC fitted with a 2-stroke X-DF propulsion system. Upon her delivery from Samsung, she commenced a 12-year charter with JERA. Earlier, on 1st April, GasLog took delivery of her sistership ‘GasLog Windsor’. Despite the industrial disruption in South Korea caused by the COVID-19 outbreak, the vessel was delivered on time and on budget. Upon her delivery, she immediately commenced a seven-year charter with Centrica. Both newbuildings are fitted with a GTT Mark III Flex+ containment system. GasLog has another five LNGCs building at Samsung.

Hudong wins domestic LNGC order

Brokers have reported that a joint venture involving CSET and PetroChina has ordered three, option three LNGCs from Hudong- Zhonghua. The 175,000 cu m vessels, valued at $185 mill each, will be delivered in 2022.