In this issue

 

As many as 33 cargoes carrying around 103.8 mill btu of LNG have arrived in Pakistan since July, 2015, the Ministry of Petroleum and Natural Resources recently said.
Thursday, 18 August 2016
Rosmorport’s Arkhangelsk port has signed a Memorandum of Understanding (MoU) with MOL LNG Transport (Europe) to supply ice pilotage services to LNGCs in the Northern Sea Route from November, 2017.
Teekay LNG Partners has reported GAAP net income attributable to the partners of $43.1 mill and adjusted net income attributable to the partners of $53.8 mill in the second quarter…
Thursday, 18 August 2016
GasLog Partners LP has confirmed the closing of its public offering of 2,750,000 common units representing limited partner interests on 5th August, resulting in net proceeds of $53.23 mill.
Group revenue for the second quarter of 2016 was RM2,392.4 mill, 8% lower than the RM2,600.5 mill recorded for the corresponding quarter of 2015.
Thursday, 18 August 2016
The Israeli gas authority is to recommend the installation of a second LNG receiving terminal, according to the Marker, an Israeli business journal.
ABB has launched an Arctic course for deck officers in response to strong demand from the ice-going vessel segment.
Parker Bestobell Marine has received an order from Daewoo to supply cryogenic valves for three Arc7 Yamal LNGCs.
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.

News Nudges

STS service provider joins OSRL

Ship-to-ship transfer specialist, STS Marine Solutions (STS), has joined Oil Spill Response Limited (OSRL). A service provider with over 40 years of experience, STS delivers expertise in the transfer of LNG, LPG and oil. Its decision to join OSRL was driven by a board-level commitment to reduce or remove risk across its operations.


’Prelude’ back onstream

Royal Dutch Shell has recently confirmed that operations at ‘Prelude’ FLNG offshore Western Australia have resumed. The giant FLNG has remained offline since February, due to engineering problems. This suspension of operations followed an order from Australia's upstream regulator to perform additional work following three safety incidents that took place at the facility between September last year and January, 2020.


Make it another six

GTT has received an order from Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) for the tank design of another six LNGCs. Two LNGCs will be built by HSHI on behalf of a European shipowner, while the other four will be built by HHI, two for an an Asian shipowner and two for a European shipowner. Each vessel will have a capacity of 174,000 cu m and their deliveries are planned between second and last quarters of 2023. They will be fitted with GTT’s Mark III Flex membrane containment system.


Gas leak delays Melkoeya restart

Equinor’s Melkoeya LNG plant’s restart has been delayed until 23rd September following a gas leak. Local police said emergency services attended the plant, which liquefies natural gas from Norway’s Arctic Snoehvit gas field. “The alarm was sounded during preparations to restart the plant, and emergency services were notified. The situation is under control,” an Equinor spokesman said. Located near Hammerfest, northern Norway, the plant has a capacity to process 18 mill cu m of gas per day. It had been scheduled to restart recently after a short shutdown due to an outage.


FSRU heads for Cove Point

Bahrain's FSRU, the 173,400 cu m ‘Bahrain Spirit’, has sailed for Cove Point where she is due this week. The vessel departed Bahrain on 8th August and declared Cove Point as her destination. She sailed via the Cape of Good Hope, according to shipping data. Her only cargo received - delivered in March, 2019 - was transferred onto an onshore facility at the terminal, following its completion in January this year, thus allowing the FSRU to be made available for short-term charters.


Saudi Aramco withdraws from Texas LNG investment

Saudi Aramco has postponed several large projects, including an LNG initiative, to save cash and preserve its dividend, after this year’s energy price crash. It was thought to be reviewing a decision to buy 25% of Sempra Energy’s Texas LNG terminal - which would cost several billion dollars - and has already taken some staff off the project, according to reports from Saudi Arabia.


Ship deliveries and charters

Alpha Gas has taken delivery of the first of four newbuilding LNGCs. The 173,400 cu m ’Energy Pacific’ was delivered by Daewoo Shipbuilding and Marine Engineering (DSME), following the completion of gas trials. She is the second to join Alpha Gas' fleet, following the 160,000 cu m ‘Energy Atlantic’ delivered in 2015. Alpha Gas is also due to take delivery of the 173,400 cu m ‘Energy Endeavour’ in the fourth quarter of this year and the sisterships ’Energy Intelligence’ and ’Energy Integrity’ in the second quarter of 2021. Flex LNG has taken delivery of the 173,400 cu m ’Flex Resolute’, also from DSME. She features ME-GI engines and is Flex LNG’s second vessel fitted with a full reliquifaction system (FRS) bringing boil-off rate down to 0.035% per day. ‘Flex Resolute’ is to enter into an 11 month timecharter, plus an option to extend by an additional three months, to an undisclosed operator. GasLog’s latest LNGC, ‘GasLog Georgetown’, has commenced sea trials off South Korea. Built by Samsung Heavy Industries, she is a 174,000 cu m capacity X-DF LNGC fitted with a GTT Mk III Flex Plus cargo containment system giving a low boil off rate of 0.07%, combined with a sub cooler. Upon her delivery, GasLog Georgetown will be operated under a seven-year charterer to Cheniere. India’s IOC is offering the 160,000 cu m ’Wilpride’ for a sub-charter on a prompt basis, after securing the vessel under short-term charter to load a 25th-29th September cargo from the still closed Cameron LNG terminal at Hackberry, Louisiana. IOC has specified redelivery of the vessel in the USGC by the end of November. ‘Wilpride’ is under charter to IOC for around 100-120 days from the end of September, according to shipbrokers. IOC also issued a tender at the beginning of September to sub-let the 174,000 cu m ‘Bonito’ that was due to load a cargo from Cameron between 23rd-27th August. Gunvor’s trading arm Clearlake has reportedly chartered Celsius’ newbuilding 180,000 cu m ‘Celsius Copenhagen’. The first of four sisters, she is due to be delivered from Samsung at the end of next month and is fitted with X-DF engines and a GTT Mk III Flex containment system.


Appointments

Neil Glass has been appointed as a Class I Director of Golar LNG Partners. This appointment fills the Class I vacancy on the Board, created by the resignation of Alf Thorkildsen in August, 2020. Glass replaced Thorkildsen and who will serve out the remaining portion of his term of office, which will expire at the 2022 Annual Meeting of Limited Partners. ****Reed Smith has announced that Kevin Keenan, a Houston-based lawyer, has joined the firm’s Houston office as a partner. A former partner with Hogan Lovells, Keenan advises clients across the energy sector, with a focus on LNG, project development and shipping. “Kevin is a key addition to our team,” said Rob Wilkins, co-chair of the Transportation Industry Group. “His arrival expands our transactional shipping capabilities, LNG experience and infrastructure project work in Houston and in the US, while providing additional bench strength to our well-known energy and commodities practices.” His experience in the LNG sector includes projects, ranging from Papua New Guinea to Qatar to the US Gulf Coast. During his 24-year career, he has negotiated more than 75 charters of conventional LNGCs, FSUs, FSRUs, FSRBs, FPSOs and MCVs and more than 60 LNGC shipbuilding and conversion contracts, including three FSRUs and two MCVs, under bespoke terms with South Korean, Japanese, Chinese, and European shipyards. ****Venture Global LNG has announced that Brian Cothran has joined the company as COO. Cothran has over two decades of operational and strategic experience in the oil & gas and power generation industries. Prior to joining Venture Global, he served for more than 20 years with General Electric and Baker Hughes, after its merger with GE Oil & Gas.