Jul / Aug 2006 (7)
Tuesday, 07 November 2006
Peter Rigby, New York
When Peter the Great traveled through Western Europe in the late 17th century, he relied upon his tremendous personal charm and near 7-foot-tall stature to secure the technical know-how to help him build what would become Russia's first navy.
Some 300 years later, Russia, anxious to join the lucrative global liquefied natural gas trade, hopes to launch a fleet of tankers to deliver Russian LNG to energy-hungry countries in the West and Asia.
It will take more than charisma and compelling economics to initiate this 21st century venture, however. Political risk, opaque legal and business systems, and Russia's short history of contract law and enforcement will distinguish its LNG projects from recent LNG project financings in Qatar, Oman, and Trinidad and Tobago.
When Peter the Great traveled through Western Europe in the late 17th century, he relied upon his tremendous personal charm and near 7-foot-tall stature to secure the technical know-how to help him build what would become Russia's first navy.
Some 300 years later, Russia, anxious to join the lucrative global liquefied natural gas trade, hopes to launch a fleet of tankers to deliver Russian LNG to energy-hungry countries in the West and Asia.
It will take more than charisma and compelling economics to initiate this 21st century venture, however. Political risk, opaque legal and business systems, and Russia's short history of contract law and enforcement will distinguish its LNG projects from recent LNG project financings in Qatar, Oman, and Trinidad and Tobago.
Published in
Jul / Aug 2006
Tuesday, 07 November 2006
Peru LNG to set nation on modern path
Written by
Joint venture partners, including Hunt Oil, Repsol and SK Corp. of South Korea, are making progress in development financing
Pampa Melchorita liquefaction plant on the Pacific coast will deliver into the North American market by way of Mexico in 2009
Peru LNG, whose major shareholders are Hunt Oil of the US and Spanish major Repsol, is on the brink of making more progress in financing and development of what is the second phase of one of the world’s most controversial energy projects.
The LNG joint venture is in talks with multilateral financial institutions, including the World Bank and the US Export-Import Bank, for $800 million in loans and guarantees that would encourage commercial banks also to lend to the $2.7 billion liquefaction project.
Pampa Melchorita liquefaction plant on the Pacific coast will deliver into the North American market by way of Mexico in 2009
Peru LNG, whose major shareholders are Hunt Oil of the US and Spanish major Repsol, is on the brink of making more progress in financing and development of what is the second phase of one of the world’s most controversial energy projects.
The LNG joint venture is in talks with multilateral financial institutions, including the World Bank and the US Export-Import Bank, for $800 million in loans and guarantees that would encourage commercial banks also to lend to the $2.7 billion liquefaction project.
Published in
Jul / Aug 2006
Tuesday, 07 November 2006
The majority of problems encountered specific to the carriage of LNG have been during the loading or discharging process
One complication is where a vessel is programmed to load different grades of LNG on consecutive voyages and maintains a heel
Nick Barber
The recent expansion of the LNG market as well as innovation in production and storage is also changing the way LNG carriers are used.
The usual practice has been to transport LNG to shore-based terminals in ships on long-term charters, specifically built for a particular route.The stability of the LNG transport industry has been based on a limited number of producers and users carrying out their trade along well travelled routes.
One complication is where a vessel is programmed to load different grades of LNG on consecutive voyages and maintains a heel
Nick Barber
The recent expansion of the LNG market as well as innovation in production and storage is also changing the way LNG carriers are used.
The usual practice has been to transport LNG to shore-based terminals in ships on long-term charters, specifically built for a particular route.The stability of the LNG transport industry has been based on a limited number of producers and users carrying out their trade along well travelled routes.
Published in
Jul / Aug 2006
Tuesday, 07 November 2006
For any LNG project, the key danger seen by the insurance market is one of the worst case scenarios - a vapor cloud explosion
Bailey J. Siegfried, Cran Fraser and Eddie Edwards
A good starting point when considering risk management in the LNG business is to analyse the provision of insurance cover for the world’s largest construction risk.
While the insurance market has had a positive experience working with the LNG industry and its history of proven safety, the issue facing insurance underwriters is the capacity of the market to continue to provide cover for projects that grow ever larger in scale and value.
Bailey J. Siegfried, Cran Fraser and Eddie Edwards
A good starting point when considering risk management in the LNG business is to analyse the provision of insurance cover for the world’s largest construction risk.
While the insurance market has had a positive experience working with the LNG industry and its history of proven safety, the issue facing insurance underwriters is the capacity of the market to continue to provide cover for projects that grow ever larger in scale and value.
Published in
Jul / Aug 2006
Tuesday, 07 November 2006
News Index
Written by
A round-up of latest events, company statements, industry reports and people in the news
Published in
Jul / Aug 2006
Tuesday, 07 November 2006
Harald Dany, Atlas Copco Gas & Process, Cologne, Germany
One of the challenging aspects of transporting liquefied natural gas to the growing world market is finding the most efficient way to handle boil-off gas during the carrier’s voyage.
Many LNG carriers have employed steam-turbine propulsion systems fuelled by boil-off. Outside of the area of steam-based propulsion, there is no efficient use of the gas.
At the same time, the good, old steam propulsion has been losing popularity and could actually become “a thing of the past”, some experts have suggested.
Published in
Jul / Aug 2006
Thursday, 26 October 2006
Brian Eisentrout, Steve Wintercorn and Barbara Weber
CB&I of the US has been involved in the design and construction of terminal facilities for LNG for more than two decades. Here their experts consider import plant options
Throughout the world about 20 new liquefied natural gas import facilities are currently being built, while many more projects are in the planning stages in the US, Europe and Asia.
Not only is the number of import terminals growing, but also the size of the planned regasification facilities to meet the increasing need for natural gas.
CB&I of the US has been involved in the design and construction of terminal facilities for LNG for more than two decades. Here their experts consider import plant options
Throughout the world about 20 new liquefied natural gas import facilities are currently being built, while many more projects are in the planning stages in the US, Europe and Asia.
Not only is the number of import terminals growing, but also the size of the planned regasification facilities to meet the increasing need for natural gas.
Published in
Jul / Aug 2006
