In this issue


Sovcomflot (SCF) has signed a $149 mill credit facility for a newbuilfding LNGC for up to 10 years.This facility was agreed with a consortium of three international banks - ING Bank; KfW IPEX-Bank, and Crédit Agricole Corporate and Investment Bank.

Teekay LNG Partners reported a GAAP net income attributable to the partners and preferred unitholders of $26 mill, GAAP net income per common unit of $0.24 and income from vessel operations of $47 mill for the third quarter of 2018. 

In the third quarter results roundups highlighted in this issue, GasLog and Golar also took a look at the market. 

Thursday, 08 November 2018

The US Federal Energy Regulatory Commission (FERC) has prepared a draft environmental impact statement (EIS) for the Texas LNG project proposed by Texas LNG Brownsville. 

The Philippines has short listed three different groups to build and operate its first LNG import terminal. 

Thursday, 08 November 2018

In its third quarter 2018 results presentation, Kosmos Energy said that in partnership with BP, the company continued to make progress in Senegal and Mauritania on the Tortue LNG development.

Thursday, 08 November 2018

Sempra Energy and Total have signed a Memorandum of Understanding (MOU) to provide the framework for co-operation in the development of North American (LNG export projects. 

The US Department of Energy (DOE) has approved LNG exports from the Corpus Christi Liquefaction project to non-free trade agreement countries for two years. 

Golar LNG Limited reported total net income of $66.2 mill for the third quarter of 2018. 

Thursday, 08 November 2018

Qatar-based Nakilat has announced a profit increase of 8.5% for the first nine months of this year. 

Thursday, 08 November 2018

GasLog Partners recorded quarterly revenues, profit, adjusted profit and EBITDA of $81.9 mill, $27.3 mill, $25.6 mill and $58.9 mill, respectively for the third quarter of this year.GasLog Partners recorded quarterly revenues, profit, adjusted profit and EBITDA of $81.9 mill, $27.3 mill, $25.6 mill and $58.9 mill, respectively for the third quarter of this year. 

Thursday, 08 November 2018

GTT (Gaztransport & Technigaz) revenues totalled €184 mill for the first nine months of this year, a 7.1% rise compared to the first nine months of 2017. 

Höegh LNG Holdings 170,000 cu m FSRU ‘Höegh Esperanza’ has arrived at the Tianjin LNG terminal in China and has started operational commissioning. 

GasLog Ltd posted record revenues of $158.4 mill (3Q17: $131.2 mill), a profit of $39.3 mill (3Q17: $24.2 mill) and earnings per share of $0.19 (3Q17: $0.03) for the quarter ended 30th September, 2018. 

News Nudges

Philippine terminal

Tanglawan Philippine LNG has been granted a ‘Notice to Proceed’ by the Philippine Department of Energy to build an LNG terminal at Batangas. The company plans to break ground this year for the regasification and receiving terminal with a capacity of 2.2 mill tonnes per annum. Commercial operations are scheduled to start by 2023. This facility will help support the demand for gas in Luzon and contribute to the sustainable development of the Philippine economy, one of the partners, Phoenix Petroleum said. A possible joint venture arrangement for Tanglawan Philippine LNG is currently being discussed between CNOOC Gas and Power Group and Phoenix Petroleum.

Driftwood moves closer

On 18th January, the US Federal Energy Regulatory Commission (FERC) issued the final Environmental Impact Statement (EIS) for Tellurian’s Driftwood LNG project. The proposed Driftwood project will be a 27.6 mill tonne per annum LNG export facility with an associated 96-mile pipeline, near Lake Charles, Louisiana, on the US Gulf Coast. Tellurian President and CEO, Meg Gentle, said, “Tellurian thanks the FERC for a thorough review and for remaining on schedule. We look forward to receiving the agency’s order granting authorisation to site, construct and operate our Driftwood project. “Tellurian will then stand ready to make a final investment decision (FID) and begin construction in the first half of 2019, with the first LNG expected in 2023.”

Newbuilding news

Brokers have reported that MOL has ordered two 174,000 cu m LNGCs at DSME on the back of Uniper charters for 2021 deliveries. In addition, DSME was also thought to have won orders for another three 173,400 LNGCs from Alpha Gas, bringing the Greek owner’s total up to five newbuildings. The price was said to be $185 mill each and the vessels are also set for delivery in 2021. In addition, the three TMS Cardiff Gas orders reported recently were said to have cost $179 mill per ship.

’Prelude’ starts production

Shell’s ‘Prelude FLNG’ commenced production offshore Western Australia last month. ‘Prelude FLNG’ will separate and liquefy the gas produced from the well to produce LNG, LPG and condensate, which will then be loaded on gas carriers and tankers from the FLNG in sequence. The giant 488 m long FLNG was built at Samsung Heavy Industries’ Geoje shipyard and arrived in Australia in September, 2017. She received her first gas in June last year from the LNGC ‘Gallina’ to test the FLNG, including the offloading arms.

Elengy to sell Fos terminal capacity

French energy company, Elengy is preparing to sell Fos Tonkin LNG terminal’s access capacities during 2021-2030. Under the plan, Elengy will offer its potential customers several types of services, including the conventional unloading of Medmax-type LNGCs with a capacity of 75,000 cu m, the reloading of small-scale LNGGCs for bunkering purposes, as well as LNG truck loading. The sale will be launched next month. Detailed information concerning the services offered will be provided in the information memorandum at the opening of the sale, Elengy said. An expert in LNG for over 50 years, Elengy owns the Fos Tonkin LNG terminal and is a 72.5% shareholder in Fosmax LNG, owner of the Fos Cavaou LNG terminal.

GTT meets with more success

GTT has received orders from Samsung Heavy Industries (SHI) for the tank design for two LNGCs ordered by GasLog and two for NYK. The GasLog newbuildings will each have a capacity of 180,000 cu m and the tanks will be fitted with the Mark III Flex+ containment system. The vessels' delivery is expected for Q2 and Q3 of 2021, respectively, GTT said. Earlier, GTT had announced that SHI had contracted the tank design of two new 174,000 cu m LNGCs ordered by NYK. These tanks will be fitted with the Mark III Flex membrane containment system. The vessels' deliveries are scheduled between the third and the fourth quarters of 2021.