LNG

Weathernews to address LNG cargo sloshing

Worldwide weather forecaster, Weathernews is working on a platform to help LNGCs estimated time of arrival (ETA) in port. By forecasting inclement weather, this will help the vessels to steam around safely off a port while regulating the cargo’s pressure without the threat of excess sloshing occurring. Some sloshing is necessary to provide boil-off gas but heavy weather can cause a threatening sloshing momentum.

Adriatic LNG looks to 2029

Adriatic LNG has announced it is testing the market for an open season from 2029 onwards. The company is looking to award long term capacity allocations from January, 2029. Available capacity from that date has been published on its website and interested parties have until 12th May this year to respond.

White & Case advises Excelerate on SPA

US-based law firm White & Case has advised Excelerate Energy on its 20-year LNG sale and purchase (SPA) agreement with Venture Global LNG. Under the agreement, Excelerate will purchase 0.7 mill tonnes per annum of LNG on a free-on-board (FOB) basis from the Plaquemines LNG facility in Plaquemines Parish, Louisiana, located about 20 miles south of New Orleans. White & Case’s team was led by partner Jamie Franklin (Houston) plus Thomas Pate (New York), local partner Kristian Bradshaw (Tokyo), and included associates Michael Richter (Tokyo) and Samer Mahjoub (Houston) and international law clerk Angeles Femenia (New York).

Woodside to join Platts’ platform

Woodside Energy Trading Singapore has advised Platts, part of S&P Global Commodity Insights, that it would like to participate in the Platts Market on Close assessment processes for EMEA - Atlantic LNG - Physical. Platts said that it had reviewed the request and will consider information from the entity in the assessment processes, subject to adherence with Platts editorial standards. Platts will publish all relevant information from Woodside Energy Trading Singapore accordingly, it advised.

Ships - Newbuildings, sales, charters

Hyundai Samho Heavy Industries (HSHI) has won an order to build three LNGCs for the equivalent of almost $255 mill each. The contracts were thought to be placed by NYK. According to a filing by parent KSOE, the vessels are due to be delivered in stages to the end of 2027. In addition, Daewoo Shipbuilding & Marine Engineering (DSME) has won a Won679.4 bill contract to build two LNGCs from Greek shipper Maran Gas Maritime, according to a filing. Meanwhile, the 142,100 cu m 2006-built LNGC ‘Gaslog Athens’ has been sold to undisclosed interests for about $55 mill, while the LNGC mentioned in Golar’s financial presentation as purchased for a conversion project, was said to be the 2004-built 149,172 cu m ‘Fuji LNG’. Brokers have reported that the 1983-built 125,568 cu m LNGC ‘Adriatic Energy’ has been sold to Bangladesh recyclers for around $680 per ldt, or $22 mill, on the basis of ‘as is’ Singapore. She has around 3,760 tonnes of aluminium on board. In addition, the 1989-built ‘Grace Energy’ was reported sold to Indian sub-continent buyers for $684 per ldt with 2,400 tonnes of aluminium on board. Excelerate Energy has extended the timecharter of the FSRU ‘Explorer’ with Dubai Supply Authority (DUSUP). Under the terms of the new agreement, the timecharter period will be extended by five years from the end of the existing contract, due to expire in the fourth quarter of 2025. The FSRU ’Explorer’ was initially chartered to DUSUP in 2015 to complement existing supply sources. ‘Explorer’ is moored at DUSUP's Jebel Ali LNG import terminal. In another FSRU deal, through its subsidiary Triumph Offshore Private Limited (TOPL), Indian-based Swan Energy Limited (SEL) sign an agreement to lease out its FSRU ‘Vasant One’ to Botas, Turkey’s state-owned natural gas and LNG company. The bareboat charter is for $250,000 per day for 12 months, which is extendable by mutual agreement.