In this issue

 

At a conference held in Rome last month, discussions mainly centred around the short and mid term markets.
Free ReadWood Mackenzie’s Asia/Pacific Vice Chair, Gavin Thompson, has commented on how the Phase One signing of the trade agreement between US and China earlier this month, will affect the LNG…
PETRONAS, through its subsidiary, PETRONAS LNG Ltd (PLL), has signed a Heads of Agreement (HOA) with Shenergy Group Company Limited (Shenergy) to supply around 1.5 mill tonnes per year of…
At the beginning of this year, Pavilion Energy Pte Ltd completed the purchase of Iberdrola’s portfolio of LNG and gas assets, and launched its Europe operations.
UK-based shipbroker and consultancy Clarksons completed the first LNG freight futures trades on CME between commodity traders Vitol and Trafigura on 23rd December last year.
Free ReadGreek utility concern Gastrade has launched the second phase of its market test for the LNG terminal at Alexandroupolis. This is the binding bidding phase for capacity reservations in the…
Thursday, 23 January 2020
French LNG gas supplier, Elengy has announced that the Fos Tonkin LNG terminal, located at Fos, will continue operations until 2028.
Thursday, 23 January 2020
Freeport LNG has started commercial operations for the second liquefaction train out of its three train facility.
Thursday, 23 January 2020
The hull of Eni and Area 4’s FLNG ‘Coral Sul’ has been floated out in Geoje, South Korea.
Thursday, 23 January 2020
According to industry sources, Indian Oil Corp (IOC) is seeking six LNG cargoes for delivery between April and December this year.
Thursday, 23 January 2020
Free ReadNew Fortress Energy has agreed a fully committed $800 mill term loan facility. This facility was provided by funds and accounts managed by affiliates of Apollo Global Management, together with…
Thursday, 23 January 2020
Höegh LNG Holdings has received a commitment letters for a revolving credit facility of up to $80 mill.
Thursday, 23 January 2020
Last year was a record-breaking 12 months for LNGSTS having carried out 112 open water LNG ship-to-ship (STS) cargo transfers.
Thursday, 23 January 2020
Free ReadBW Group has signed a new contract to continue KVH VSAT services for at least five years and is upgrading 102 vessels, including the LNGCs, to fit KVH’s patented mini-VSAT…

News Nudges

Tellurian extends loan maturity

Tellurian has amended the terms of its 2019 Term Loan. This includes an 18-month extension of the maturity date to 23rd November, 2021. President and CEO, Meg Gentle, said, “As announced in early March, we are making necessary changes amid challenging global conditions. We have restructured the organisation and entered into an agreement to extend our Term Loan maturity to late 2021, which swiftly completes the second critical step toward resiliency in the current market. We are working remotely with potential equity partners for the Driftwood project and implementing measures to keep our team safe and productive to regain commercial momentum when the effects of COVID-19 subside,” she said.


Sakhalin extends Svitzer contract

Copenhagen-based towage company Svitzer has won a 10-year extension of a marine service contract with Sakhalin Energy Investment Company, a consortium set up to develop and manage the oil and gas Sakhalin-II project. Svitzer has been providing towage services to the Sakhalin-II since 2007. The extension, which comes into effect in November, 2022, involves the mooring of more than 1,800 LNGCs using a fleet of four Robert Allen icebreaking tugs and two mooring boats. These vessels are operated by a team of 58 Russian crew members, supported by nine onshore staff. Commenting on the extension, Alan Bradley, Svitzer’s Cluster Manager - Asia, said;“We are very pleased that Sakhalin Energy Investment Company have chosen Svitzer as their preferred partner for 10 more years. With the extension, we are able to continue to play an important role in ensuring that oil, gas, food and supplies are reaching people and homes. Our goal is to ensure we always support the customer’s business by providing efficient marine services in their terminal – the extension of a contract as significant as this one gives us confidence that we are adding value.”


Markets

Broking sources have reported that Maran Gas has exercised yet another option for a 170,000 cu m LNGC from Daewoo. The $192 mill vessel was thought to be the 13th ordered from the South Korean yard. She is due for delivery in 2022. Several deliveries in LNG Shipping News LNGC orderbook, which see, look likely to slip backwards, due to the current situation, Fearnleys said. In the charter market, ExxonMobil was believed to have chartered the 176,300 cu m, 2016-built ‘Rioja Knutsen’ on a relet. The rate was reported as $64,000 per day.


Transhipments return to Honningsvåg

Novatek and Tschudi are reportedly returning to Honningsvåg to undertake ship-to-ship LNG transfers. Following a successful reloading operation in 2019, the companies have earmarked more STS operations to transfer LNG from Yamal Arc 7 tonnage to conventional vessels. Between November 2018 and June 2019, 123 LNG cargoes were transhipped from Arc7s to conventional LNGCs, local news sources said. Last year, Novatek said that the operation in Norwegian waters would be a ‘one off’ and it would instead be looking to transfer LNG in Russian waters off Kildin Island, northeast of Murmansk. In the medium-term, the company was thought to be trying to establish a permanent transhipment terminal near Vidyaevo, also on the Kola peninsula. Tschudi was reported to have received an updated operating permit on 30th September, 2019. At that time the number of permitted transfers was increased from 165 to 207 per calendar year, out of which, 140 LNG transfers are allowed. A Notice to Mariners issued in February this year warned of shipping activity around Honningsvåg stating that operations could be expected between 22nd March and 15th May.


Jordan Cove gets FERC nod

On 19th March, the US Federal Energy Regulatory Commission (FERC) finally approved the Jordan Cove energy project. This is the 12th LNG export project that FERC has approved since Chairman Neil Chatterjee took office, he said in a statement. To be located at Coos Bay, Oregon, Jordan Cove is also the first export terminal the Commission has certificated on the US West Coast in the lower 48. This facility will be capable of liquefying up to 1.04 bill cu ft of natural gas per day for export to global markets. The Pembina operated project includes a pipeline, plus marine loading facilities.