LNG

In this issue

 

Free ReadTeekay Corp and Teekay LNG Partners have confirmed that COSCO Shipping Energy Transportation has completed an ownership restructuring on arms-length terms, due to US sanctions.  As a result, Teekay LNG’s…
Infraestructura Energetica Nova (IENOVA) expects to make a final investment decision (FID) on building the first phase of its Mexican Energia Costa Azul (ECA) LNG export plant in early 2020,…
Lloyds Energy subsidiary, Alaska-based Qilak LNG, has signed a Heads of Agreement (HOA) with ExxonMobil Alaska Production.
Thursday, 31 October 2019
Free ReadThe US Federal Energy Regulatory Commission (FERC) has issued a Notice of Schedule for Environmental Review for Commonwealth LNG’s proposed export plant. This project encompasses the construction of an LNG…
Asia is expected to lead the world’s new LNG regasification capacity additions.
State-controlled PetroVietnam Gas (PV Gas) has begun to build the Thi Vai LNG import terminal, and also signed finance deals for the first phase of the project.
Golar Power Limited, a 50/50 joint venture between Golar LNG Limited and Stonepeak Infrastructure Partners, has been awarded a 25-year power purchase agreement (PPA) to build a 605 MW combined…
Free ReadAustralian Industrial Energy (AIE) has lodged a ‘Modification’ to its existing Development Consent for its Port Kembla Gas Terminal to meet higher demand for natural gas during peak periods. As…
Calgary-based Pieridae Energy has closed its acquisition of all of Shell Canada Energy’s midstream and upstream assets in the southern Alberta Foothills for Can$190 mill.
Thursday, 31 October 2019
Sempra Energy has signed into a memorandum of understanding (MOU) with Mitsui & Co.
Free ReadChina’s Yantai LNG Group is to operate an LNG import terminal by 2022. According to newswire reports, the company expects Chinese government approval in the next few weeks. Yantai is…
Thursday, 31 October 2019
Nakilat announced improved net profits of QR728 mill for the first nine months of this year, compared to QR659 mill during the same period of 2018 - an increase of…
Thursday, 31 October 2019
Awilco LNG has announced that the term sheet for the refinancing of the company’s two 2013-built 156,000 cu m TFDE LNGCs, ‘WilForce’ and ‘WilPride’, was recently credit approved.
Thursday, 31 October 2019
Gaztransport & Technigaz (GTT) earned revenue of almost €200 mill for the first nine months of this year, a rise of 8.7% over the same period of 2018.

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.