In this issue

 

Thursday, 22 November 2018

German-based energy company RWE has signed an agreement with Tokyo Gas to co-operate in the LNG business.

Thursday, 22 November 2018

NOVATEK Gas and Power Asia Pte Ltd has shipped an LNG cargo produced from the Yamal LNG project to China National Offshore Oil Corp (CNOOC).  

Thursday, 22 November 2018

YPF has awarded EXMAR a long-term contract to produce and export the first LNG from Argentina.

Abu Dhabi National Oil Co (ADNOC) will supply the first cargo for Bahrain's new floating LNG import and re-gasification terminal in February or March of next year, according to the country's oil minister.

Thursday, 22 November 2018

Pirates have attacked an unnamed LNGC off Bonny, Nigeria, the IMB Piracy Reporting Centre has confirmed. 

Avenir LNG Limited has successfully completed a private share placement.

Thursday, 22 November 2018

LNGC, tanker and offshore unit owner and operator MISC saw its net profit halved in the third quarter of this year.

Dynagas LNG Partners reported a net loss of $0.7 mill for the third quarter of this year. 

For the third quarter of this year, Awilco LNG reported freight income of $8.6 mill, up from $6.4 mill recorded in 2Q18. 

PaxOcean has delivered a 26,000 cu m FSRU to Indonesia-based Jaya Samudra Karunia (JSK).The ‘Karunia Dewata’ is claimed to be the largest FSRU to be built in China and the first to feature type ‘C’ cargo tanks.

Sovcomflot (SCF) has signed a $149 mill credit facility for a newbuilfding LNGC for up to 10 years.This facility was agreed with a consortium of three international banks - ING Bank; KfW IPEX-Bank, and Crédit Agricole Corporate and Investment Bank.

Teekay LNG Partners reported a GAAP net income attributable to the partners and preferred unitholders of $26 mill, GAAP net income per common unit of $0.24 and income from vessel operations of $47 mill for the third quarter of 2018. 

In the third quarter results roundups highlighted in this issue, GasLog and Golar also took a look at the market. 

Thursday, 08 November 2018

The US Federal Energy Regulatory Commission (FERC) has prepared a draft environmental impact statement (EIS) for the Texas LNG project proposed by Texas LNG Brownsville. 

News Nudges

Teekay LNG declares distributions

Teekay GP LLC, the general partner of Teekay LNG Partners, has declared cash distributions of $0.5625 per unit on the Partnership’s Series A preferred units and $0.5313 per unit on the Partnership’s Series B preferred units for the period from 1st January, 2019 to 31st March, 2019. They are payable on 15th April, 2019 to all unitholders of record as at 29th March, 2019.


Rotterdam extends discounts to Green Award LNGCs

The first Green Award incentive provider, the Port of Rotterdam, has extended its remit to reward LPG and LNG carriers of any size certified by the organisation. From 1stJanuary, 2019, every liquid bulk carrier in the Green Award scheme now benefits from a discount on the vessels’ port dues of 15%, relating to its gt, when calling at Rotterdam. The Port Authority has also introduced a new pay-out scheme, which makes claiming incentives unnecessary, as this is automatically awarded upon notification by the agent that a vessel with a Green Award certificate is calling at the port. This year Green Award is celebrating its 25th anniversary.


GTT wins tank designs for Celsius

GTT has received an order from Samsung Heavy Industries (SHI) to design the tanks for two 180,000 cu m LNGCs, ordered by Celsius Tankers. They will be fitted with the Mark III Flex membrane containment system. The ships’ deliveries are planned during the second quarter of 2021.


OLT publishes tender procedure

OLT Offshore LNG Toscana’s tender procedure for the auctioning of LNG equalling 60,000 MW/h is now available. The documents to participate to the tender were presented on 18th March, 2019, according to the conditions set forth in the procedure.


Foreign flag LNGCs allowed at Sabetta

Russian has decreed that foreign flag vessels are allowed to transport gas and condensed gas from Sabetta. For example, vessels timechartered for at least 15 years are allowed to trade until 31st December, 2043. A list of vessels is included in an Appendix to the Governmental Order. Foreign-flagged vessels that are timechartered for no longer than six months are allowed to carry gas and condensed gas from Sabetta until 31st December, 2021.


GasLog names SHI-built LNGCs

At a ceremony on 12th March, GasLog named two new LNGCs building at Samsung Heavy Industries. They were named ‘GasLog Gladstone’ and ‘GasLog Warsaw’. ‘GasLog Gladstone’ was also delivered to GasLog at the same ceremony. GasLog said the 174,000 cu m ‘GasLog Gladstone’ would start a long term charter to Shell following her delivery. The company did not provide additional info on the 180,000 cu m ‘GasLog Warsaw’.


TEN LNGCs chartered out

The ‘Neo Energy’ and ‘Maria Energy’ have been fixed to “significant international energy concerns” for an aggregate period of 36 months. The total gross revenues from these two charters, over the duration of the respective contacts, is expected to be about $60 mill. "LNG is on top of the agenda for TEN's diversified energy fleet. With two vessels fixed on accretive medium-term charters, the company is examining further expansion in the sector," George Saroglou, TEN COO, commented. "TEN's model provides its clients with a broad range of vessel types, ranging from crude and product tankers to gas carriers. At the same time this diversity allows TEN to choose the best investment opportunities for growth," he said.


PETRONAS moves FLNG

PETRONAS has relocated the FLNG, ‘PFLNG Satu’, from the Kumang field, offshore Sarawak, to the Kebabangan (KBB) field, offshore Sabah. ’PFLNG Satu’ is to be moored at a water depth of 120 m in the KBB cluster field, located 90 km northwest of Kota Kinabalu, Sabah. PETRONAS Executive Vice President and CEO Upstream, Datuk Mohd Anuar Taib said “‘PFLNG Satu’s’ technology, featuring the capability to move from one location to another, will strengthen the reliability of PETRONAS’ LNG supply system to meet growing LNG demand. “PETRONAS has delivered 19 successful cargoes since the commissioning of ‘PFLNG Satu’ and we are confident that this success continues in Sabah waters as well,” he added. Designed to last for up to 20 years without drydocking, the 365 m long FLNG is expected to produce 1.2 mill tonnes of LNG per year.


Saga LNG’s LNGC nears completion

Saga LNG Shipping held a naming ceremony for its first LNGC at the Jiangsu shipyard on 13th March, 2019. Named ‘Saga Dawn’, the 45,000 cu m vessel will be delivered in May of this year and enter into service shortly after. Saga LNG claimed that the vessel is the world’s first LNGC to feature an IMO type A LNG containment system, based on LNT Marine’s patented LNT A-BOX design. The ABS-classed vessel is fitted with Wärtsilä dual-fuel main and auxiliary engines.