LNG

In this issue

 

Free ReadDynagas LNG Partners suffered a net loss of $4.7 mill for the three months ended 30th September, 2019, compared to a net loss of $0.7 mill in 3Q18.  The 3Q19…
Thursday, 28 November 2019
Atlantic Gulf & Pacific (AG&P) has invested in Kanfer Shipping (Kanfer), an Norwegian-based developer of small-scale LNGCs, breakbulk solutions, floating storage facilities, as well as LNG bunkering. Kanfer has designed…
Thursday, 28 November 2019
GTT Training, a specialist LNG training and simulation provider, has installed G-Sim LNG simulator software at the MTC Maritime Training Centre in Hamburg.
Thursday, 28 November 2019
ABS has awarded Approval in Principle (AIP) to Samsung Heavy Industries (SHI) for its X-Reli LNG Boil Off Gas Expander, part of SHI’s Expansion Re-Liquefaction System.
Thursday, 14 November 2019
Free ReadGasLog has taken its usual snapshot of the market in the company’s third quarter 2019 results presentation. Compared to 3Q19, this quarter’s supply is expected to grow by 6%, to…
Global Energy Ventures (GEV), a developer of compressed natural gas (CNG) projects, has chosen the US Gulf as its next region to develop an CNG export terminal.
Thursday, 14 November 2019
Argentina’s state-owned oil company YPF has loaded its first commercial LNG export cargo from its new floating facility.
Thursday, 14 November 2019
ADNOC LNG has concluded supply agreements with subsidiaries of both BP and Total.
Free ReadAngola has formed a consortium with five international oil companies, including Eni and Chevron, to develop LNG for its Soyo plant, the recently formed national oil, gas and biofuels agency…
LNG project development company EPIK has appointed Australia and New Zealand Banking Group (ANZ) to serve as financial adviser for its Newcastle GasDock LNG import terminal.
UK-based Grain LNG is seeking to increase its redelivery capacity.
Thursday, 14 November 2019
Free ReadFrench energy major Total aims to expand its Mozambique LNG project by adding two extra trains. “We’re starting to look at studies for train 3 and train 4, because the…
SCF Group and VEB.RF Group, a Russian finance provider, signed an agreement for lease financing of the lead ship in a series of icebreaking LNGCs expected to be built to…
Thursday, 14 November 2019
aGasLog Ltd and its subsidiaries, reported revenues of $165.6 mill, a profit of $8.9 mill and loss per share of ($0.20) for the three-month period ended 30th September.

News Nudges

OLT Offshore outlines forward capacity

OLT Offshore LNG Toscana has confirmed that the products in which the continuous capacity is made available for allocation from gas year 2021/2022 to 2032/2033 has been published on its website. This allocation implements new terms introduced by the Regasification Code approved on 24th March, 2020, by the Italian Regulatory Authority for Energy, Networks and Environment (ARERA). One of the key changes is the possibility for users to express a preference for both 155,000 cu m and 180,000 cu m capacity slots in the annual and multi-year allocation. OLT will offer six 180,000 cu m slots and 34 x 155,000 cu m slots. Offers can be submitted through the PAR from 27th May, 2020.


FERC asked to continue monitoring projects

Five US Representatives have sent a letter to the Federal Energy Regulatory Commission (FEC), asking for business to continue as usual during the pandemic. The letter, addressed to FERC Chairman, Neil Chatterjee, called for an outright rejection of a moratorium on approving and constructing new LNG projects during the COVID-19 pandemic, saying that such measures were essential to energy security.


Gasum closes acquisitions

Nordic energy company Gasum closed the acquisition of Linde AG’s LNG and Biogas business in Sweden and Norway and Nauticor’s Marine Bunkering business in Germany on 30th April, 2020. In the transactions, around 35 employees, a customer base and several assets were transferred to Gasum. The businesses generate annual revenues of more than €100 mill. On 6th May, Gasum subsidiary the Hamburg based LNG supplier Nauticor, conducted the first ship-to-ship LNG bunkering operation on a product tanker in Germany. The bunkering operation on ‘Ramelia’ was conducted at Brunsbüttel on the river Elbe.


Senior management changes

GasLog and GasLog Partners CFO, Alastair Maxwell, is to step down from his position on 30th June, 2020. As a result, Achilleas Tasioulas, currently Deputy CFO, will be promoted to CFO on 1st July, 2020. Maxwell’s resignation is due to GasLog’s decision to relocate its senior management, including the CFO, to Greece. Golar LNG Partners has appointed Karl Fredrik Staubo as an interim CEO. This follows Graham Robjohns, decision to step down from 30th April, 2020 as announced last year.


GasLog’s two new LNGCs

On 11th May, GasLog took delivery of the ‘GasLog Wales’, an 180,000 cu m LNGC fitted with a 2-stroke X-DF propulsion system. Upon her delivery from Samsung, she commenced a 12-year charter with JERA. Earlier, on 1st April, GasLog took delivery of her sistership ‘GasLog Windsor’. Despite the industrial disruption in South Korea caused by the COVID-19 outbreak, the vessel was delivered on time and on budget. Upon her delivery, she immediately commenced a seven-year charter with Centrica. Both newbuildings are fitted with a GTT Mark III Flex+ containment system. GasLog has another five LNGCs building at Samsung.


Hudong wins domestic LNGC order

Brokers have reported that a joint venture involving CSET and PetroChina has ordered three, option three LNGCs from Hudong- Zhonghua. The 175,000 cu m vessels, valued at $185 mill each, will be delivered in 2022.