Curtis Island ships milestone cargo
ConocoPhillips and its Australia Pacific LNG (APLNG) joint venture has shipped its 500th LNG cargo from the Curtis Island plant, near Gladstone. Queensland Resource Council (QRC) CEO Ian Macfarlane said the Australian State’s gas industry was continuing to deliver exports and support jobs to help with the post COVID-19 economic recovery. “The gas industry has had to adapt to COVID-19. We have worked within the restrictions to slow the spread and keep as many of the 37,000 Queenslanders who rely on us for their work and pay on the job. “In total the gas industry contributes Aus$8 bill to the Queensland economy and invests Aus$2.7 bill with local businesses,” he said.
Global Venture appoints new CFO
Jonathan (Jack) Thayer has joined Global Venture LNG as CFO. Thayer has over 15 years of finance leadership experience. Prior to joining Venture Global, he served as CFO of Exelon Corp, a utility, power marketing, and generation holding company, and CFO of Constellation Energy Group, a large, integrated energy company, with power generation, gas and electric distribution, and energy management services.
First Japanese joint venture shipment arrives
On the back of an agreement between Hiroshima Gas Co and Tokyo Gas Co, the first LNG shipment by Tokyo LNG Tanker Co has arrived at Hiroshima’s Gas’ Hatsukaichi LNG terminal. This is the first joint venture LNG cargo based on an agreement between Hiroshima Gas, Tokyo Gas and Tokyo LNG Tanker signed in February of this year. It called for the LNG bought by Hiroshima Gas and Tokyo Gas jointly from Sakhalin, Russia to be transported by an LNGC owned and operated by Tokyo LNG Tanker for eight years to 2027. The agreement was also made possible with the co-operation of Sakhalin Energy Investment Co, a long term supplier to Hiroshima Gas and Tokyo Gas.
Teekay declares cash distributions
Teekay GP, 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 April, 2020 to 30th June, 2020. The cash distributions will be payable on 15th July, 2020 to all unitholders of record as at 30th June.
On 10th June, 2020, Excelerate Energy took delivery of its 10th FSRU. The ’Excelerate Sequoia’ was built by Daewoo Shipbuilding and Marine Engineering (DSME) and has a storage capacity of 173,400 cu m. She is capable of operating as both an FSRU and a fully tradeable LNGC. In September last year, Excelerate and Maran Gas Maritime (MGM) signed a five-year bareboat charter agreement for the FSRU. Excelerate will have the option to purchase the ’Excelerate Sequoia’ during the five-year charter. The vessel completed its first gas-up and cool-down operations at POSCO Energy’s Gwangyang LNG Terminal in Jeonnam, South Korea on 21st June, 2020. In other news, China’s Hudong-Zhonghua Shipbuilding is due to deliver the fourth LNGC built to serve Novatek’s Yamal project in the Russian Arctic. The conventional 174,000 cu m ‘LNG Megrez’ is the final Yamal vessel ordered by Japan’s Mitsui OSK Lines (MOL) and China COSCO Shipping at the Chinese yard. Hudong-Zhonghua said it recently completed the installation and commissioning of the vessel’s two WinGD X-DF engines. She is also fitted with a GTT No96 membrane cargo containment system. Flex LNG is to take delivery of the LNGC ‘Flex Aurora’ by end of July. The 174,000 cu m LNGC is being built by Hyundai Heavy Industries and she will be ready for charter immediately after delivery, being uncommitted. She also features twin WinGD X-DF engines and GTT’s Mark III Flex containment system. The next Flex LNG vessels is expected to be delivered in 3Q20. The company currently has six vessels on the water with another seven under construction at HHI and DSME. Finally, BW LNG’s latest LNGC, the 170,799 cu m ’BW Pavilion Aranthera’, underwent gas trials last week. She is BW LNG’s fifth newbuilding out of nine on order from Daewoo. She is fitted with MAN Energy Solutions’ ME-GI propulsion unit and reliquefaction system, plus GTT’s No96 cargo containment system. The company claimed that its high-pressure, dual-fuel, 2-stroke ME-GI propulsion vessels have a fuel consumption saving potential of 35% and 50% respectively, compared to tri-fuel diesel-electric (TFDE) and steam vessels.