LNG

Gibraltar has formally opened its liquified natural gas import terminal as the British overseas territory switches from diesel power to gas-fired electricity and promotes cleaner fuel for shipping visiting the port.

Gibraltar said its new gas-fired power station project had handled its first operation with a small-scale LNG carrier delivery as part of safety trials in the run-up to the start of full operations.

Chart Industries, one of the leading providers of liquefied natural gas liquefaction and storage equipment, swung to a net profit for 2016 from a previous loss amid signs of a rebound in the industry as the company sought more business like the recent order for an LNG import terminal in the British overseas territory of Gibraltar.