LNG

LNT gets LR approval

Lloyd's Register (LR) has awarded Approval in Principle (AiP) to Norwegian technology provider LNT Marine (LNT) for its patented LNT A-BOX cargo containment system. This system has been developed for medium to large scale LNGCs, and is claimed to make their construction easier and more cost effective, together with the proprietary LNG Fuel-BOX fuel tank system, which offers an ammonia-ready LNG fuel tank system.

Platts in DES Southeast Asia LNG (SEAM) assessments launch

Platts, part of S&P Global Commodity Insights, is to publish DES Southeast Asia (SEAM) price assessments reflecting the value of spot LNG cargoes delivered into Southeast Asia. From 16th October, the assessments will be published as a differential to Platts JKM, as well as on an outright basis. Southeast Asian LNG imports have grown significantly over the last two years and are expected to grow further as new importing countries enter the market. Cargoes delivered ex-ship (DES) to Thailand will be considered as the basis of the assessment. Prices of LNG spot cargoes delivered into Singapore, the Philippines or Vietnam may be normalised. Platts will assess cargoes for delivery in the third, fourth, fifth and sixth half-month cycles forward from the date of publication. The SEAM monthly assessment will be based on the average of the two DES Southeast Asia LNG half months that match the JKM delivery month period. DES Southeast Asia assessments will reflect a quantity of 3.4 TBtu. This volume will be subject to plus/minus 5% operational tolerance, at the seller's option. Platts standards will reflect LNGCs of above 135,000 cu m.

DET to start regas auctions

German public sector operating company, Deutsche Energy Terminal GmbH (DET), is to hold auctions for regasification capacities, including storage and send-out. In two digital auction rounds, which are due to start on 16th and 23rd October, 2023, respectively, interests will be able to acquire utilisation rights for the first short-term capacities in 2024 at the Brunsbüttel and Wilhelmshaven 1 terminals. Further short-term capacities at the Stade and Wilhelmshaven 2 terminals are due to be offered in another auction round in December, 2023. Long-term capacity marketing with a term of more than a year is planned for April, 2024.

Ships - Sales, charters, deliveries

MISC Berhad (MISC) is to sell and charter two LNGCs to Japanese shipowner, Nissen Kaiun. Under the terms of the transaction, MISC will transfer ownership of the LNGCs to Nissen Kaiun, and also sign a charter agreement with Eaglestar and Synergy Marine as the shipmanagers. The first of the two vessels is expected to be delivered to Nissen Kaiun in the fourth quarter of this year. COSCO Shipping Energy Transportation (CSET) is to take a stake in three newbuilding LNGCs. COSCO Shipping LNG Investment will acquire a 49% stake in three single ship companies set up by Japanese Mitsui OSK Lines, (MOL) in Liberia. The three 174,000 cu m LNGCs will be built at Hudong-Zhonghua for delivery in 2028 at a price of around $241 mill per ship. They are to be chartered to ENN LNG, a Singapore-based subsidiary of China’s ENN Natural Gas. At the same time, CSET’s Board gave approval for the financing of the construction of two LNGCs for Shanghai COSCO Shipping Liquefied Natural Gas Investment. Earlier this month, the 172,000 cu m Ice Class LNGC ‘Alexei Kosygin’ was named at the Zvezda Shipbuilding complex. At the naming ceremony, Russian President, Vladimir Putin, said; ”The development of this fleet is of great importance to our country, which is an Arctic power, in order to implement our long-term strategy for developing the Arctic, ensuring reliable transport along the Northern Sea Route, global transport and logistics routes and strengthening our country and the entire world’s energy security.” Also reported this month was the delivery of the 174,000 cu m LNGC ‘Paris Knutsen’. She was built by Hyundai Samho Heavy Industries and is the seventh LNGC to be long term chartered to Shell in the series. ‘Paris Knuten’ is fitted with an MAN ME-GA engine plus an HI-ALS air lubrication system.

For Qatargas read QatarEnergy LNG

Qatar’s giant energy company, Qatargas has been rebranded as QatarEnergy LNG. At present, the company operates 14 LNG trains with a total annual production capacity of 77 mill tonnes, which makes QatarEnergy LNG the world’s largest LNG producer. Established in 1984, QatarEnergy LNG develops and produces hydrocarbons from the world’s largest non-associated natural gas field. In addition, QatarEnergy LNG is also a leading exporter of natural gas, helium, condensate and associated products, the company claimed.