LNG

Royal Vopak of the Netherlands has reached a positive final investment decision with Canada’s AltaGas to proceed with a large-scale energy and bulk liquids terminal at Ridley Island in the Canadian Pacific province of British Columbia.

The floating LNG import terminal operating company in the South American nation of Colombia said LNG deliveries reached record levels to respond to the increase in demand for gas-fired power as drought conditions caused by the “El Niño” phenomenon reduced hydro-electric supplies.

The South American nation of Colombia is making moves to import more liquefied national gas at the floating LNG terminal at the port of Cartagena to supply the country's main thermal plants to deal with the El Niño weather phenomenon.

Royal Vopak, the Dutch global energy storage company with several LNG terminal stakes including in the Gate facility in Rotterdam and a floating terminal in Colombia, reported a €410.5 million ($417.3M) second-quarter loss because of asset impairment charges relating to the Russian war in Ukraine, inflationary pressures, utility prices and energy transition costs.

June 8 (LNGJ) - Royal Vopak, the Netherlands-based global storage company with stakes in liquefied natural gas terminals and a new LNG import project for Hong Kong, has hosted its Capital Markets Day in Rotterdam and updated analysts on strategic priorities. “Vopak will grow its base in industrial and gas terminals by allocating €1 billion ($1.07Bln) to these activities by 2030. This will further support a long-term and steady cash flow generation. Vopak will continue to invest in the growing global gas markets and expand its network of LNG and LPG terminals at strategic locations,” said the company.

   “Vopak aims to further grow and maintain its position as market leader in industrial terminals and to improve the performance of the portfolio and targets an operating cash return of at least 10 percent by 2025. The company expects that the share of proportional capital employed in industrial and gas will further increase, while the share of oil and chemicals will gradually decline,” it added.

Royal Vopak, the Netherlands-based global storage company with stakes in liquefied natural gas terminals and a new LNG import project for Hong Kong, increased its first-quarter revenues and net profits as it also helped Germany’s LNG import ambitions.

Royal Vopak, the Netherlands-based global storage company with four stakes in liquefied natural gas terminals and a new LNG import project for Hong Kong, reported a 7 percent increase in earnings to €827 million ($940M) from €780M in the previous year as soft business conditions persisted in energy storage.

US company Sycar said it would soon supply another liquefied natural gas shipment to the South American nation of Ecuador following the first LNG ISO container delivery earlier in January 2022.

Promigas, the utility company in the South American nation of Colombia, said it was studying a boost in regasification capacity at its Cartagena floating LNG import terminal on the Caribbean Coast to meet increasing demand.

June 4 (LNGJ) - Black and Veatch of the US, the Kansas-based supplier of LNG and energy equipment and solutions, has been selected to conduct a technical, engineering and commercial study for the Andes Energy Terminal project in the South American nation of Colombia. The gas-to-power venture would be centred on Buenaventura in Colombia’s Aguadulce Peninsula.

   “The study will build on commercial and technical work previously completed by the sponsors and focus on the development of an LNG regasification facility and 400 megawatts of natural gas-fired power generation for cities in central and southwestern Colombia,” said the company.