LNG

Global Energy Storage (GES) of Singapore, a developer and operator of energy storage terminals, has announced a strategic partnership with a liquefied natural gas unit of Swedish shipping group Stena AB to identify and advance LNG logistics and storage solutions.

GES and Stena Power and LNG Solutions hope to combine their logistics expertise comprising floating storage and regasification units (FSRUs), onshore terminals and storage.

“Stena owns three LNG carriers which it can deploy as FSRUs or floating storage, potentially together with innovative jetty-less and/or offshore power solutions that do not require onshore facilities,” said a joint statement.

GES is planning to build a global network of first-class energy storage assets from its base in the Asian city state.

Part of its strategy is to invest around $250 million in brown and greenfield assets, initially in Europe and Asia, in the next five years.

“Our development efforts are focused on establishing expandable platforms located at key crossroads of energy flows,” said GES, started up in May 2021 by private equity firm Bluewater.

Leadership

GES is led by Peter Vucins and Eric Arnold, the team behind the growth of leading hydrocarbon storage company, Global Petro Storage (GPS).

The Singapore firm plans to concentrate on low-carbon commodities, energy transition fuels like LNG, as well as potentially renewable energy sources in the future.

GES said its strategic deal with Stena Power and LNG would enable developing economies and emerging markets to access LNG and clean power.

“This is an exciting and important partnership for GES. We regard LNG as an important transition fuel, especially in emerging markets where there is a strong demand for gas and power and a structural need to switch from coal to lower carbon solutions such as LNG,” said Peter Vucins, Chief Executive of GES.

“We are also interested in exploring opportunities with regard to blue hydrogen production where LNG is combined with carbon capture to make low carbon hydrogen,” added Vucins.

“The possibility to deploy existing LNG carriers with onshore terminal solutions means that we can move quickly to provide our customers with a full range of solutions,” stated the GES CEO.

Göran Hermansson, Chairman of Stena Power and LNG, said Stena’s offering was wide-ranging and provided operational and commercial advantages as well as increased safety.

“Our work is underpinned by our values of care, performance and innovation,” added Hermansson,

“By working with Global Energy Storage, we can share our wide-ranging, industry-specific knowledge to better achieve our mutual objective of delivering more sustainable energy infrastructure solutions to communities across the world,” declared the Stena unit’s Chairman.

Stena Power and LNG is already active in southeast Asian LNG through its involvement with an LNG import project in Vietnam.

Stena has been contracted to supply its jetty-less LNG transfer and regasification system for a terminal project in Bac Lieu province in Vietnam’s Mekong Delta being developed by Delta Offshore Energy and the regional authorities.

Stena Power and LNG Solutions has completed successful model testing of the receiving terminal technology ordered for Delta Offshore Energy’s LNG-to-power project in Vietnam.

Italian energy company Eni has strengthened its presence in future LNG importer Vietnam through the acquisition of Block 115, located in the Song Hong basin and the nearby Ken Bau natural gas and condensate discovery.

Eni acquired a 100 percent interest in the Block from Krisenergy, an independent upstream company focused on the production and development of oil and gas in the basins of Southeast Asia.

“The acquired Block is adjacent to Block 114 where the operator Eni Vietnam and its partner Essar Exploration and Production Limited have recently announced the Ken Bau gas and condensate discovery currently under appraisal,” explained Eni.

Milan-based Eni said the new acreage also borders Block 116, operated by Eni Vietnam with a 100 percent participating interest.

The Block covers an area of 7,382 square kilometres with a water depth ranging from 90 metres to 1,000 metres.

“Eni's presence in the country is further strengthened with this acquisition, consolidating its position in the recently discovered Ken Bau play, in line with the strategy of expanding  its gas portfolio in the Far East,” said Eni.

Eni has been present in Vietnam since 2013, and currently operates five blocks all located in the under-explored Song Hong and Phu Khanh basins.

Vietnam is currently developing about half-a-dozen LNG and power projects with overseas partners to try and keep pace with future energy needs to enable its economic expansion.

The leading LNG import projects include the Quang Ninh LNG-for-power venture owned by a partnership comprising PetroVietnam, Tokyo Gas and Marubeni Corp.

Vietnam is also developing another terminal involving US major ExxonMobil Corp. at the port city of Haiphong.

Another Vietnamese LNG-for-power venture is being developed by Singapore-based company Delta Offshore Energy and partners in Bac Lieu province in the Mekong Delta of south Vietnam.

Other ventures are planned for Ninh Thuan province, south of Cam Ranh Bay, and at Long An, also on the Mekong Delta. 

Vietnam is making progress on several liquefied natural gas import projects to support associated power plants and one such venture in Bac Lieu Province in the southern Mekong Delta has been highlighted in a half-yearly Vietnamese report on the economy.

The Australian-listed developer of the US Magnolia LNG plant in Louisiana with an export accord to supply cargoes for Vietnam has run out of money and time after a takeover by a private firm from Singapore fell through, along with short-term financing arrangements.

The Australian project developer of the US Magnolia export plant in Louisiana with an agreement to supply shipments to Vietnam is now likely to be taken over by a Singapore-based private company.

Jan 27 (LNGJ) - The US Federal Energy Regulatory Commission has  prepared a final supplemental environmental impact statement for the Magnolia LNG project proposed for Lake Charles in Louisiana, which has a deal to export shipments to Vietnam. The Magnolia project, owned by Australian-listed LNG Ltd, requested authorization to increase capacity at the previously authorized project from 8 million metric tonnes per annum to 8.8 MTPA. 

   “The increased production capacity would be achieved through the optimization of Magnolia LNG’s final design, including additional and modified process equipment,” the FERC noted. “With the incorporation of the mitigation measures identified in the supplemental EIS, staff concluded the LNG terminal design would include acceptable layers of protection or safeguards,” it added.

The Vietnamese province of Bac Lieu held a ceremony to hand over an  investment permit to Singapore-based Delta Offshore Energy to develop a $4-billion power project on the Mekong Delta fuelled by imports of liquefied natural gas from the US state of Louisiana.

Australia-listed Liquefied Natural Gas Ltd, and its Magnolia LNG project in the US state of Louisiana, has agreed to supply cargoes to new terminal in Vietnam planned for the Mekong Delta as part of a gas-to-power project.

Vietnam is making progress on a project to construct a liquefied natural gas import terminal with an associated power plant in Bac Lieu Province in the southern Mekong Delta and the venture is being developed with full foreign infrastructure investment.