In this issue

 

Thursday, 18 February 2021
Free ReadQatar Gas Transport Company (Nakilat) has reported a consolidated net profit of QR1,161 mill in 2020, an increase of 15.7%, compared to QAR1,003 mill reported for 2019. As a result,…
Intercontinental Exchange (ICE) plans to launch LNG freight futures contracts based on Spark Commodities’ price assessments.
Thursday, 18 February 2021
Flex LNG has reported revenues of $67.4 mill for the fourth quarter of last year, compared to $33.1 mill for 3Q20.
Thursday, 18 February 2021
Free ReadVenture Global LNG has closed a $500 mill term loan. The banks invloved were JPMorgan Chase Bank, Morgan Stanley Senior Funding, Mizuho Bank, and Bank of America. The proceeds will…
Kongsberg Maritime (KM) has signed a contract to supply equipment to Russian LNG producer NOVATEK.
Thursday, 18 February 2021
GTT has obtained two Approvals in Principle (AiP) from Bureau Veritas (BV).
Thursday, 18 February 2021
Wärtsilä has signed a partnership agreement with SAACKE.
Thursday, 04 February 2021
Free ReadFSRU’s share of the LNG import market is projected to double to 20% by 2030, according to Poten & Partners Majed Limam. For example, he said that investing in FSRUs…
Thursday, 04 February 2021
Egypt is to restart a second LNG production plant.
AqualisBraemar’s ports & harbour division has completed its two-year involvement in the development of Sub-Saharan Africa’s first floating LNG import terminal.
Pakistan State Oil (PSO) has invited bids for an LNG cargo to be delivered on 15th -16th April.
Thursday, 04 February 2021
Free ReadHöegh LNG Holdings has finalised and signed all documentation needed for the 10-year charter of an FSRU to India’s H-Energy. The company has selected ‘Höegh Giant’ to fulfil the 10-year…
Thursday, 04 February 2021
Asian LNG demand spike last month on the back of freezing temperatures was not an indication of a major global demand rebound for the remainder of 2021, an International Energy…
Few if any US LNG cancellations were expected for March, according to traders talking with Platts in the past couple of weeks.

News Nudges

Pieridae appoints new COO

Canada’s Pieridae Energy, the developer of the Goldboro LNG export project, has appointed Darcy Reding as the company’s new COO. Reding succeeded Tim de Freitas who left the firm in January. He was described as a professional engineer with 30 years of success in small and mid-sized private and public upstream oil and gas companies, with 20 years in leadership roles. The new COO said his focus would be to ensure the safe operations of the company’s upstream natural gas infrastructure and strengthen the technical and economic readiness of the drilling inventory that provides the feedstock for the Goldboro LNG project. Goldboro LNG in Nova Scotia will include two liquefaction facilities each with a capacity of 4.8 mill tonnes of LNG each year. Pieridae has a 20-year binding contract with German energy firm Uniper for the total volume from the first liquefaction train but has delayed the final investment decision (FID), which it hopes to take by the end of June.


Golar’s Ross resigns

Golar LNG’s Iain Ross has tendered his resignation from the company. The contractual termination period is six months, however the final duration can be prolonged or reduced upon mutual agreement, Golar said. Golar LNG is currently in the final stages of closing the sale of its 50% interest in Hygo Energy Transition and 32% interest in Golar LNG Partners to New Fortress Energy (NFE) for a total of about $5 bill. The majority of the closing conditions have been completed, including prepayment notices issued to several of GMLPs lenders. Closing of the transactions is expected shortly, Golar said. Golar’s Board will immediately start the process to recruit Ross’ successor, it said.


Excelerate hits 2,000 STS

Excelerate Energy completed its 2,000th commercial ship-to-ship (STS) LNG transfer on 3rd April, 2021. The transfer occurred at Excelerate's Moheshkhali floating LNG (MLNG) terminal located offshore Bangladesh in the Bay of Bengal. Using Excelerate's FSRU ‘Excellence’ and a conventional LNGC, 144,191 cu m of LNG were transferred using the double-banked LNG transfer system. To date, Excelerate has transferred over 236,405,000 cu m of LNG using this STS protocol, the company claimed. Excelerate conducted the industry's first commercial STS transfer of LNG in 2007. Since then, STS transfers have been commercially accepted and proven in a wide range of environments, including open ocean and protected bodies of water at various locations between the LNG load ports and market delivery points. The company has imported over 157 cargoes of LNG and delivered an excess of 500 mill MMBtu of natural gas into the Bangladeshi market to date. Last month, the country reached its highest level of gas output with around 837 mill cu ft per day of natural gas as the government continued to increase its LNG imports to meet the rising domestic demand.


LNGC deliveries, etc

Several LNGCs were reported delivered recently, including two for TMS Cardiff Gas and one for BW LNG. The TMS Cardiff vessels were the 174,000 cu m ’LNGShips Athena’, which sailed from Hyundai Heavy Industry’s Ulsan shipyard, while the similar capacity ‘LNGShips Empress’ left Samsung Heavy Industry’s Geoje shipyard. Both LNGCs are term chartered to Shell, together with the sistership ‘LNGShips Manhattan’, which is due to be delivered later this month from HHI. BW LNG’s delivery, ‘BW Lesmes’ is chartered to BP. Elsewhere, the 170,000 cu m FSRU ’Ertugrul Gazi’ was also delivered in March to Turkey's state-run gas supplier Botas (see page 3). Later it was also reported that Latsco Shipping, a unit of the Latsis Group, had taken delivery of its first LNGC, the 174,000 cu m ‘Hellas Diana’ from Hyundai Samho Heavy Industries. Latsco ordered two X-DF sisterships via Consolidated Marine Management at the shipyard in November, 2018. Commodity trader Trafigura has chartered both vessels, according to VesselsValue data. The second vessel ‘Hellas Athina’ is due for delivery later this year. France LNG Shipping, a joint venture between NYK and Geogas LNG, has taken delivery of the 174,000 cu m ‘LNG Adventure’, which has gone on charter with Total Gas & Power. She features a WinGD X-DF engine and was delivered on 31st March from Samsung Heavy Industries. The LNGC will be operated by Marseille-based shipmanager, Gazocean, which became an NYK subsidiary last October. Another company to receive its first LNGC recently was Danish investment firm Navigare Capital Partners. The 174,000 cu m ‘Marvel Swan’ was delivered by Samsung and will go on charter to Japan’s trading house Mitsui & Co to ship Mitsui’s offtake volumes from Sempra’s Cameron LNG plant in Louisiana. She is managed by Pronav, part of the Schulte Group, and is one of eight LNGCs chartered by Mitsui. Brokers have reported that the 1984-built, 132,588 cu m LNGC ‘Atlantic Energy’ arrived at Chattogram for recycling on 8th April. She had been laid up near Labuan for several months.