LNG

Italian major Eni said it had begun to introduce feed gas into the “Tango FLNG” floating production plant ahead of the shipping of the first cargo in a project located offshore the Republic of Congo in West Africa.

Southern Cone gas and power players comprising the nations of Argentina, Brazil, Bolivia and Chile have plans to invest around $46 billion in natural gas production and $94Bln in new power supply through 2033.

Excelerate Energy, the leading US provider of floating storage and regasification units (FSRUs) with increased demand from Europe and South America, reported higher net income from natural gas sales in Brazil and Finland and German charter income.

TotalEnergies has approved the final investment decision for the Fénix gas development offshore LNG importer Argentina in partnership with Germany’s main oil and gas company Wintershall Dea.

Liquefied natural gas cargo liftings are decreasing this week while North Asian spot cargo prices and benchmark European values were still strong after the Dutch Title Transfer Facility price reached a 2021 high and North Sea Brent crude was at levels not seen for two years.

Excelerate Energy, the US company that led the global development of floating LNG import terminals, has completed the successful transition of its entire fleet of floating storage and regasification units to Excelerate Technical Management.

“Congratulations to our ship management team overseeing this effort and the 600 plus seafarers that supported,” said Steven Kobos, President and Chief Executive of Excelerate Energy.

“Transitioning 10 ships in 10 months is a tremendous accomplishment in any year, but especially in 2020,” added Kobos.

“Through ETM, we look forward to continuing to provide the seamless service our customers have come to know and expect,” he stated.

Excelerate began transitioning its fleet in February 2020 with the FSRU “Experience” after the Republic of the Marshall Islands and the Government of Belgium awarded Interim Documents of Compliance (DoC) under the International Safety Management (ISM) Code to ETM.

Excelerate completed the transition of the 10th and final FSRU “Excellence” on October 28.
As each FSRU undergoes scheduled maintenance and upgrades, Excelerate plans to repaint its vessels in the corporate brand colors and design.

“At Excelerate, we hold ourselves to the highest standards, and this transition gives us an opportunity to enhance our already rigorous safety management programs,” said Cal Bancroft, Executive Vice President and Chief Operating Officer of Excelerate.

“It also demonstrates our commitment to stewardship, accountability, improvement, and leadership and providing more flexible and seamless services to clients,” added Bancroft.

Excelerate explained that with the transition to the new ship management subsidiary, customers can continue to expect
consistency of operations and high performance of personnel development, both seagoing and shore-based.

Houston-based Excelerate began developing its ETM ship management services in February 2020.

In early June 2020, it named Bancroft as the COO to help oversee the unit.

He holds a B.S. in Nautical Science from Maine Maritime Academy and an M.B.A. in International Business and Marketing Management from the University of St. Thomas in Houston. He also served in the US Naval Reserve. 

Excelerate Energy, the pioneer of more than a dozen LNG import projects worldwide, has taken delivery of its 10th floating storage and regasification unit, the “Excelerate Sequoia”, from the Daewoo Shipbuilding and Marine Engineering shipyard in South Korea.

Exmar, the Belgian shipping and projects company with more than 40 vessels in its fleet and now mostly focused on the liquefied petroleum gas business and LNG shipment management, said the Bank of China had finally released financing for the “Tango FLNG” production barge deployed in Argentina while the vessel itself was earning income as it liquefied shale gas from the Vaca Meurta Basin.

Exmar, the Belgian shipping company with more than 40 vessels in its fleet now mostly focused mainly on the liquefied petroleum gas business, said the its “Tango FLNG” vessel chartered to Argentina was set to export its third cargo as the company’s finances also improved.

Exmar, the Belgian shipping company with more than 40 vessels in its fleet now mostly focused on the liquefied petroleum gas business, has made executive changes as it tries to improve finances amid the success of the floating LNG production vessel, “Tango FLNG”.