In this issue

 

Teekay LNG Partners, together with Teekay Corp and Teekay Tankers Ltd, have joined the United Nations Global Compact, the corporate sustainability initiative.
Thursday, 01 October 2020
State-owned Pakistan LNG Limited (PLL) has invited bids to supply around 420,000 cu m of LNG in November.
Thursday, 01 October 2020
Free ReadInternational finance providers were thought to have raised about $9.5 bill for NOVATEK’s Russian Arctic LNG project, Arctic LNG 2, a document seen by Reuters said. The $21 bill project,…
Thursday, 01 October 2020
Russian shipping giant, Sovcomflot (SCF) plans to sell a 15.5%-17% stake in new shares and raise around R42.25 bill ($534 mill) in an initial public offering (IPO) on the Moscow…
Thursday, 01 October 2020
Sempra Energy said that the Cameron LNG export plant should return to full service in six weeks.
Free ReadKongsberg Digital (KDI) has won a contract to supply the Flensburg University of Applied Sciences Maritime Centre with a complete K-Sim engine room simulator package. Scheduled for delivery in August…
Thursday, 01 October 2020
Keppel Shipyard, a wholly-owned subsidiary of Keppel O&M, is currently undertaking the conversion of the ‘BW Gallina’ into an FSRU.
Thursday, 17 September 2020
Demand for LNG is to increase steadily for several decades helped by economic growth in Asia, industry leaders told the Gastech Virtual Summit held last week.
Thursday, 17 September 2020
Asian spot LNG prices were almost stable last week, as several buyers looked for cargoes and the US Sabine Pass export plant resuming production after hurricane ‘Laura’.
Thursday, 17 September 2020
Free ReadThailand’s state oil and gas company PTT plans to become an Asian regional LNG hub. In a speech at the Gastech Virtual Summit last week, Supawat Tatthong, PTT’s Vice President…
Thursday, 17 September 2020
Taiwan's LNG demand continues to grow and has not been impacted by COVID-19.
Thursday, 17 September 2020
No new LNG export projects could be approved this year for the first time in at least two decades, according to banking and industry sources.
Free ReadBangladesh’ Cabinet Committee on Public Purchase has approved 10 procurement proposals, including one for the import of 3.490 mill MMbtu of LNG from the international spot market. Finance Minister, AHM…
US Federal Energy Regulatory Commission (FERC) has granted Freeport LNG’s request for a three year extension to complete the planned Train 4 at its Texas LNG export plant.

News Nudges

Three Arc7s transit the NSR this month

The Arc7 LNGC ‘Christophe de Margerie’, chartered by the Yamal LNG project, successfully completed an independent passage along the Eastbound part of the Northern Sea Route (NSR) on the 16th January. She reached the Bering Strait in 11 days with an average speed of 9.6 knots. ‘Christophe de Margerie’ was followed by another Arc7 ‘Nikolay Yevgenov’, which is currently completing her independent passage along the NSR. Both LNGCs will deliver around 140,000 tonnes of LNG produced at Yamal LNG to Asia/Pacific destinations. Simultaneously, another Arc7 ‘Nikolay Zubov’, sailing in the opposite direction bound for Sabetta after offloading her LNG cargo, entered the Westbound ice route along the NSR on the 6th January and subsequently reached Ob Bay on the 17th January. According to NOVATEK, all three Arc7s transited the ice covered part of the NSR, without icebreaker support, along the navigational routes recommended by the Russian State Research Centre, Arctic and Antarctic Research Institute and Atomflot’s marine operations headquarters.


SCF takes delivery of Shell LNGC

On 15th January 2021, PAO Sovcomflot (SCF) took delivery of ’SCF Timmerman’, a new 174,000 cu m LNGC. On the same day, the vessel sailed on her maiden voyage under a long-term time charter to Shell, which will provide SCF with an additional $165 mill of contract backlog. She is the third vessel in a series of Atlanticmaxes ordered by SCF in 2018. NOVATEK also announced that a steel cutting ceremony took place at the Zvezda Shipbuilding Complex for a new Arc7 to be built to ship LNG from NOVATEK’s Arctic LNG 2 project. The Arc7 was ordered by SMART LNG, a joint venture between NOVATEK and SCF. Arctic LNG 2 and SMART LNG had previously signed charter agreements for 14 similar Arc7s to be built at Zvezda. In a brief statement on its social media channels, Flex LNG said that it will bring forward the delivery of the 174,000 cu m LNGC ‘Flex Volunteer’. She was originally scheduled for delivery at the end of February, 2021, but due to the strength of the charter market, the company has decided to bring the date forward to the second half of January. COSCO Shipping Energy Transportation (CSET) was said to have ordered three 174,000 cu m LNGCs at Hudong-Zhonghua shipyard. The LNGCs were said to be valued at around $185 mill. In the charter market, as well as the record daily rate paid for an LNGC (see page 1), Awilco LNG has won a timecharter for the 2013-built 156,000 cu m ‘WilPride’. Due to start in the first half of February, the charter is for between two and three months, and will generate revenues of $10.3 mill to $14.3 mill. With an estimated breakeven of $58,000 per day, Awilco said the contract is estimated to generate liquidity of between $6.2 mill and $8.6 mill. Gas prices and spot LNG shipping rates have recently increased dramatically for several reasons, including cold weather, various production disruptions and fleet inefficiencies. Forward gas prices for the remainder of 2021 have recovered together with the predicted shipping rates. Awilco’s 2021 financial results are expected to improve on 2020, the company said.


For DNV GL read DNV

DNV GL, an assurance and risk management company with an interests in LNGCs, will change its name to DNV on 1st March, 2021. This move comes after a comprehensive review of the company’s strategy as it positions itself for a world in which many of DNV’s markets are undergoing fundamental change. The current name has been in place since the 2013 merger between DNV (Det Norske Veritas) and GL (Germanischer Lloyd).


LNGCs bridge windows protected

UK South Shields based Solar Solve has supplied its SOLASAFE roller sunscreens, to a series of eight LNGCs, built by Hyundai Heavy Industries (HHI). All of the 174,000 cu m vessels were constructed to exactly the same design and destined for Greek shipowners/managers Capital. SOLASAFE roller sunscreens are type approved by the four major class societies and tjhey are guaranteed for seven years. They are installed on the navigation bridge windows as a safety aid. When in use they will reject up to 87% of the infra-red light (heat), 99% of the UV light and 93% of the glare that passes through the windows into the enclosed space, significantly improving the working environment for the personnel inside. Solar Solve supplied 192 x 845 SOLASAFE screens to HHI during 2020, were installed at the wheelhouse windows of the eight LNGCs. Another 653 screens were installed on a further 33 vessels of various types.