In this issue

 

The European Investment Bank (EIB) has approved €150 mill loan to fund the construction of Cyprus LNG import project.
Between 40 and 45 US LNG cargoes are expected to be cancelled for August, due to a slow recovery in Asian gas demand and record high European gas stocks, market…
Thursday, 25 June 2020
Free ReadLithuanian LNG terminal operator, AB Klaipėdos nafta (KN), is to use external expertise to facilitate its long-term LNG supply project. By taking this step, KN said that it would continue…
China is to head the world’s LNG regasification capacity share to 2024, according to a new report.
Thursday, 25 June 2020
Croatia’s floating liquefied natural gas (LNG) terminal located on the northern Adriatic island of Krk is due to start operating on 1st January, 2021.
Thursday, 25 June 2020
Driftwood’s LNG export terminal’s construction has been delayed until next year.
Thursday, 25 June 2020
Free ReadDespite suffering a little bit of a setback, the long term LNG sector projections will remain the same, Michael Tusiani, Poten and Partners Chairman Emeritus claimed. The sector will get…
Australian energy provider Viva Energy is looking at a number of development projects, including an LNG import terminal, that could be located alongside its Geelong refinery.
Thursday, 25 June 2020
The US Federal Energy Regulatory Commission (FERC) has allowed Kinder Morgan’s Elba Island LNG project to begin adding feed gas into Train 9.
Thursday, 25 June 2020
Free ReadPAO NOVATEK held a working meeting last week to look at progress made on the Arctic LNG 2 project. The meeting, which took place as a video-conference, was attended by…
Thursday, 25 June 2020
GasLog Ltd has sold 14.4 mill common shares for $2.50 per share for total gross proceeds of $36 mill through a private placement of unregistered common shares.
Thursday, 25 June 2020
INPEX Corp’s Ichthys LNG project has concluded a loan refinancing agreement.
Free ReadAwilco LNG is to make temporary amendments to financial covenants in the sale/leaseback terms for the LNGCs ‘WilForce’ and ‘WilPride’. In an agreement with CCB Financial Leasing (CCBFL), the required…
Thursday, 25 June 2020
OLT Offshore LNG Toscana’s calendar of annual and multi-year auctions will be held from 1st to 3rd July, 2020.

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.