In this issue

 

Thursday, 04 August 2016
Despite the current weakness in LNG shipping rates, Drewry maintained its bullish long-term outlook for LNG shipping.
Mitsui OSK Lines (MOL) has confirmed that wholly owned subsidiary Lakler is to conclude a long-term charter contract for an FSU with Gas Sayago of Uruguay, a joint venture between…
Thursday, 04 August 2016
Golar LNG and Schlumberger have jointly created OneLNG to develop low cost gas reserves to LNG.
Exmar’s cash flow from operations (EBITDA) for the first half of 2016 was higher at $57.8 mill, compared with $54.8 mill for 1H15 and the operating result (EBIT) was $35.4…
GasLog Partners reported revenue, profit and EBITDA of $49.64 mill, $17.38 mill and $35.56 mill for the second quarter of this year, respectively.
Dynagas LNG Partners reported a 30% and 28% rise on distributable cash flow during the second quarter and first half of this year, respectively, compared to same periods of 2015.
French gas engineering concern GTT reported a 11.4% increase in revenue for the first half of this year to €117 mill from €105 mill declared in 1H15 and a net…
According to local media, India is attempting to renegotiate LNG deals with Australia and Gazprom.
Thursday, 04 August 2016
Demand outlook for LNGCs with long-term charters remained positive, GasLog Partners said in its second quarter results roundup (see page 3).
Thursday, 04 August 2016
Chevron’s Gorgon gas project in Australia is back to 70% of its rated production capacity after a series of commissioning problems. Full production is not now expected until 2017.
Thursday, 04 August 2016
Maltese Prime Minister Joseph Muscat presided over the sail away ceremony of the LNGFSU ‘Armada LNG Mediterrana’ in Singapore earlier this week.
Last week, the new LNG terminal at Dunkirk, France was put into ‘safe conditions’, due to the presence of liquefied natural gas in its flare stack, causing “LNG projections at…
Representatives from Nigeria LNG and the UK’s Southampton Solent University staff recently commissioned the latest vessel to join the scale ship model fleet at the ship handling centre at Timsbury…
Thursday, 04 August 2016
The US White House Council on Environmental Quality released its final guidance for federal agencies on incorporating the effects of climate change in their National Environmental Policy Act (NEPA) reviews…

News Nudges

Adriatic receives first Q-Flex

Qatargas has delivered the first Q-Flex LNG cargo to the Adriatic LNG receiving terminal in Italy. The Qatargas-chartered LNGC, ‘Tembek,‘ loaded at Ras Laffan on 9th June and arrived at the Adriatic LNG terminal on 21st June. This terminal is located around 14 km offshore of Porto Levante in the northern Adriatic near Rovigo. It was the world's first offshore gravity-based LNG regasification terminal. Operated by ExxonMobil (70%); Qatar Terminal Ltd (23%), a subsidiary of Qatar Petroleum; and Snam (7%), the terminal is connected to the Italian national distribution network through integrated pipelines. It has a regasification capacity of 8 bill cu m of LNG per year and it currently supplies over 10% of the country's natural gas requirements, Qatargas said.


Orders and deliveries

Hudong-Zhonghua Shipbuilding Co, part of China State Shipbuilding Corp (CSSC), is to build three LNGCs worth Yuan3.9 bill ($551.62 mill). The 174,000 cu m LNGCs will be operated by COSCO Shipping Energy Transportation (CSET), a subsidiary of COSCO Shipping. They will be deployed under a 20-year charter to PetroChina. The three vessels are expected to be delivered between the end of 2022 and early 2023, a spokesperson at Hudong-Zhonghua told Reuters. They will be fitted with X-DF propulsion units and membrane type containment systems. Liu Hanbo, CSET Chairman, told Reuters that the construction of the new LNGCs is in response to the government’s call to expand domestic demand and to safeguard China’s energy security. Elsewhere, Norwegian shipowner Knutsen OAS has taken delivery of a newbuild LNGC from Hyundai Heavy Industries (HHI). The 180,000 cu m ’Traiano Knutsen’ has begun her long term charter with Enel upon her delivery. Knutsen has another four 174,000 cu m LNGCs on order with HHI, all of which are scheduled for delivery next year, as well as an 30,000 cu m LNGC at Hyundai Mipo also for delivery in 2021.


Sonatrach extends Total deal

Algerian state energy company Sonatrach has signed a deal with Total to continue the supply of 2 mill tonnes a year of LNG to France for another three years. Relations between Sonatrach and Total had deteriorated after Algeria blocked the sale of Anadarko assets to the French company, energy sources had told Reuters.


Korea Lines spins off LNGC segment

Korea Lines has reportedly completed its planned spin-off of its LNG shipping business into a separate entity. A new company — Korea LNG Shipping — now owns 11 LNGCs, all of which are under term charters with South Korean state-controlled importer Kogas. Four of these vessels are owned in a consortium. Korea LNG Shipping is also due to take delivery of another two LNGCs from Hyundai Samho Heavy Industries (HSHI) in 2022.


Tianjin tops LNG imports in China

North China's Tianjin came top in the list of the country’s LNG import ports for the first five months of this year. Tianjin accounted for about 19.5% of the country's total LNG imports, according to the Tianjin Customs, reported Xinhua. From January to May, LNG imports through the port increased 24.8% year-on-year to hit 4.97 mill tonnes as LNG prices kept falling. Tianjin LNG imports during the period mainly came from Australia, Russia and Southeast Asia, which added up to 75.4% of the port's total LNG imports.