In this issue

 

Free ReadLNG demand faced several headwinds during the first quarter of this year, GasLog said in a review published with its first quarter 2020 results presentation (see page 7). A warmer…
Due to the current pandemic, low gas prices and oversupply, LNG developers are re-examining this year’s strategies and capex plans.
With continued support in US Henry Hub natural gas prices reaching near parity with European gas benchmarks, at the end of last month, less US LNG imports will be destined…
Qatar Petroleum (QP) recently secured slots to building eight, option eight 175,000 cu m LNGCs at China’s Hudong–Zhonghua Shipbuilding in what is being described as the largest LNGC order yet…
Thursday, 14 May 2020
Free ReadUS LNG developer NextDecade Corp is thought to be still planning to take a final investment decision (FID) on its proposed Rio Grande LNG export plant in Texas this year.…
Thursday, 14 May 2020
Texas-based Freeport LNG began commercial operations on its third liquefaction train on 1st May.
Thursday, 14 May 2020
A private energy infrastructure company has agreed to buy Magnolia LNG from its parent, Australia's LNG Limited’s administrators.
Free ReadBangladesh’s Energy Ministry is to import LNG using the spot market to benefit from the current low gas prices. Several committees have been formed to look into importing spot LNG…
Teekay Corp and Teekay LNG Partners have signed an agreement to eliminate all of the Partnership’s incentive distribution rights (IDRs) in exchange for 10.75 mill newly-issued Teekay LNG common units.
LNG and LPG carrier owner, EXMAR, reported an EBITDA of $30.8 mill for the first quarter of this year, compared to $13.6 mill for 1Q19.EBIT for the first quarter was…
Free ReadGasLog Ltd has reported a first quarter 2020 loss of $39.4 mill, compared to a $5.9 mill profit for the quarter ended 31st March, 2019. The loss attributable to GasLog’s…
Thursday, 14 May 2020
The Awilco LNG Group reported net freight income of $12.9 mill for the first quarter of this year, compared with $16.3 mill in 4Q19.
As at April 27, 2020, more than 1,100 LNG cargoes totalling over 75 mill tonnes had been produced, loaded and exported from Cheniere’s liquefaction projects, the company said in its…
Wison Offshore & Marine’s (WOM) 200,000 cu m LNGC design has received Approval in Principle from DNV GL.

News Nudges

Adriatic receives first Q-Flex

Qatargas has delivered the first Q-Flex LNG cargo to the Adriatic LNG receiving terminal in Italy. The Qatargas-chartered LNGC, ‘Tembek,‘ loaded at Ras Laffan on 9th June and arrived at the Adriatic LNG terminal on 21st June. This terminal is located around 14 km offshore of Porto Levante in the northern Adriatic near Rovigo. It was the world's first offshore gravity-based LNG regasification terminal. Operated by ExxonMobil (70%); Qatar Terminal Ltd (23%), a subsidiary of Qatar Petroleum; and Snam (7%), the terminal is connected to the Italian national distribution network through integrated pipelines. It has a regasification capacity of 8 bill cu m of LNG per year and it currently supplies over 10% of the country's natural gas requirements, Qatargas said.


Orders and deliveries

Hudong-Zhonghua Shipbuilding Co, part of China State Shipbuilding Corp (CSSC), is to build three LNGCs worth Yuan3.9 bill ($551.62 mill). The 174,000 cu m LNGCs will be operated by COSCO Shipping Energy Transportation (CSET), a subsidiary of COSCO Shipping. They will be deployed under a 20-year charter to PetroChina. The three vessels are expected to be delivered between the end of 2022 and early 2023, a spokesperson at Hudong-Zhonghua told Reuters. They will be fitted with X-DF propulsion units and membrane type containment systems. Liu Hanbo, CSET Chairman, told Reuters that the construction of the new LNGCs is in response to the government’s call to expand domestic demand and to safeguard China’s energy security. Elsewhere, Norwegian shipowner Knutsen OAS has taken delivery of a newbuild LNGC from Hyundai Heavy Industries (HHI). The 180,000 cu m ’Traiano Knutsen’ has begun her long term charter with Enel upon her delivery. Knutsen has another four 174,000 cu m LNGCs on order with HHI, all of which are scheduled for delivery next year, as well as an 30,000 cu m LNGC at Hyundai Mipo also for delivery in 2021.


Sonatrach extends Total deal

Algerian state energy company Sonatrach has signed a deal with Total to continue the supply of 2 mill tonnes a year of LNG to France for another three years. Relations between Sonatrach and Total had deteriorated after Algeria blocked the sale of Anadarko assets to the French company, energy sources had told Reuters.


Korea Lines spins off LNGC segment

Korea Lines has reportedly completed its planned spin-off of its LNG shipping business into a separate entity. A new company — Korea LNG Shipping — now owns 11 LNGCs, all of which are under term charters with South Korean state-controlled importer Kogas. Four of these vessels are owned in a consortium. Korea LNG Shipping is also due to take delivery of another two LNGCs from Hyundai Samho Heavy Industries (HSHI) in 2022.


Tianjin tops LNG imports in China

North China's Tianjin came top in the list of the country’s LNG import ports for the first five months of this year. Tianjin accounted for about 19.5% of the country's total LNG imports, according to the Tianjin Customs, reported Xinhua. From January to May, LNG imports through the port increased 24.8% year-on-year to hit 4.97 mill tonnes as LNG prices kept falling. Tianjin LNG imports during the period mainly came from Australia, Russia and Southeast Asia, which added up to 75.4% of the port's total LNG imports.