LNG

Dec 13 (LNGJ) - New Fortress Energy, the New York-based LNG projects developer, said it expected the business to generate more than $11 billion of additional liquidity over the next three years and more cash would be returned to shareholders.

   “Our business is now generating significant, stable, and growing cash, which we believe affords us the ability to both retain capital necessary to grow and return excess capital to shareholders in the form of meaningful dividends,” said Wes Edens, Chairman and Chief Executive of NFE. “We are fortunate to have a strong balance sheet and the liquidity we believe is necessary to execute our strategy and achieve our goals, matching long-term LNG supply with long-term power demand around the world,” added Edens, who also cited investments in floating LNG facilities.

Shell in Australia said LNG cargo shipments and production had returned to normal on the “Prelude FNLG” vessel deployed off the northwest coast of Western Australia.

The Government of Ivory Coast has held talks on its large oil and gas discovery containing significant volumes of associated natural gas and offering the potential for its energy renaissance as a West African regional hub.

Höegh LNG Partners, the US affiliate of Höegh LNG Holdings now partnered with the infrastructure unit of US investment bank Morgan Stanley, has reorganized part of its finances on a floating storage and regasification unit deployed in Indonesia and the subject of a dispute with the former charterer.

Höegh LNG Partners, the US affiliate of Höegh LNG Holdings now partnered with the infrastructure unit of US investment bank Morgan Stanley, has seen its shares plunge over 60 percent after the dividend was slashed.

Gas Malaysia, the Asian nation’s domestic natural gas network operator and supplier and with a licence to import LNG, expects an improved performance in 2021 after Covid-19 challenges as it expands its network and customer base in Peninsular Malaysia.

The nations of Malaysia and Indonesia, the largest Asian liquefied natural gas exporters, are also increasing their own domestic LNG deliveries on growing demand requirements and will indirectly help to balance the over-supplied global market.

Gaztransport and Technigaz, the French technology designer of LNG maritime and onshore storage systems, has confirmed it has doubled up on tank orders from the top liquefied natural gas import project in China by receiving a similar scale of an order from the leading export venture in Russia.

GTT said it received an order from the South Korean shipyard Daewoo Shipbuilding & Marine Engineering for the tank design of two floating storage units (FSUs), the largest such facilities ever built, on behalf of GTLK, the Russian state leasing agency.

Each FSU will have a capacity of 361,600 cubic metres and will be fitted with the No. 96 GW membrane cryogenic containment system, a technology developed by GTT.

The Paris-based company said their delivery is scheduled for the end of 2022.

These two FSUs will be located in the Murmansk region and in the Bay of Kamchatka in respectively the West and East of the Russian Federation.

They will be employed in the Arctic LNG II project of the Russian LNG producer and natural gas company Novatek for its trans-shipment ventures.

GTT in late June 2020 also received an order for China’s largest ever LNG storage tanks for the Nangang import terminal proposed for Tianjin City, east of Beijing.

GTT said its order came from the building company China Huanqiu Contracting & Engineering Co. (HQC) for the design of two membrane full-containment LNG tanks, each with net capacity of 220,000 cubic metres.

This order follows the agreement signed in November 2019 between GTT and the Chinese major state-owned company Beijing Enterprises Group, on the occasion of the presidential visit to China of French President Emmanuel Macron, in the presence of Chinese President Xi Jinping.

The Nangang terminal is being developed by Beijing Gas Group, giving the port city area of three import facilities to guarantee energy supply security to the Chinese capital.

The Chinese import terminal will have an initial 5 million tonnes per annum of capacity and adds to the supply available from Sinopec’s Tianjin North import terminal and the floating storage and regasification unit capacity deployed in recent years by China National Offshore Oil Corp.

Beijing Gas is mainly engaged in city-gas distribution and supplies more than 10 billion cubic metres per annum to the Chinese capital and surrounding areas.

The new Tianjin terminal project has already been approved by the National Development and Reform Commission.

Beijing Gas said its terminal in Tianjin was expected to be completed by 2022 and would include emergency reserves comprising 10 extra storage tanks.

Malaysia’s national energy company Petronas has signed a sales and purchase agreement for an LNG tank filling facility at Sarawak, the Malaysian state on the island of Borneo, for onward shipment to China in ISO containers.

Malaysian Prime Minister Mahathir Mohamad and his wife have attended the naming ceremony near the port of Busan in South Korea of the second liquefied natural gas production vessel being built for Malaysia’s state-backed energy company Petronas.