LNG

July 8 (LNGJ) - Stolt-Nielsen Gas (SNG), a unit of Norwegian-listed energy storage and shipping group Stolt-Nielsen Ltd., said it continued to pursue its plans to develop small-scale LNG storage and distribution supply chains to serve “stranded demand” in locations lacking access to LNG pipelines. SNG said one such venture it was developing was on the Italian island of Sardinia. However, small-scale LNG plans in Canada remain suspended due to the unfavorable impact of low commodity prices in the mining industry there and in other key target markets. The LNG statement was in its latest earnings which showed a net profit in the second quarter of $38.0 million, down from $42.8M in the same three months of 2015. Quarterly revenue was $478.9M compared with $500.7M in the year-ago quarter.