LNG

European gas buyers are starting to outbid Asia for LNG cargoes to refill storage ahead of winter, marking a decisive shift in the global gas arbitrage, said Menelaos Ydreos, secretary general of the International Gas Union (IGU).

The runup of the World Gas Conference 2025 is underway, with IGU President Li Yalan hosting a one-year countdown event at China National Convention Center in Beijing. The triennial event will be the first-ever World Gas Conference to be held in China.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, has completed the construction of two full containment tanks for the new Nangang LNG import terminal being constructed by the parent company of Beijing Gas Group at Tianjin port in northeast China.

GTT’s order was received from its partner company, China Huanqiu Contracting and Engineering Co. (HQCEC), for the design of eight very large storage tanks each with a capacity of 220,000 cubic metres.

“They are the world's largest onshore LNG storage tanks incorporating the GST® membrane containment technology,” said GTT.

The Paris-based company said the construction schedule remained on track despite the constraints imposed by the Covid-19 pandemic.

GTT added that the two onshore tanks were now entering the commissioning phase and would be operational in the first half of 2023.

The new Tianjin-Nangang project comprises three phases and will be the the third facility to serve the northeast Chinese port supplying the gas needs of Beijing.

The existing facilities currently include the Tianjin North onshore terminal operated by China Petroleum and Chemical Corp. (Sinopec) and had included a separate floating facility when required.

Huge project

“The construction of these first two onshore tanks marks an important milestone for BGG's LNG terminal in Tianjin,” said Philippe Berterottière, Chairman and Chief Executive of GTT Group.

“These tanks are the first of eight planned for the site and are already the largest onshore tanks in the world equipped with our GST® technology. We thank BGG and the Chinese government for their trust and wish HQCEC every success for this new terminal,” he declared.

GTT said its technology offered many advantages compared with a traditional onshore LNG tank.

This includes safer storage management through integrated monitoring and greater storage capacity for the same footprint.

“This milestone is the reward of five years of assessment, preparation, engineering and actual construction,” said Li Yalan, who is Chairwoman of the Beijing Gas unit of parent company Beijing Entreprises Group.

“We are proud to have evolved this emerging technology into a promising solution for many projects around the world,” added Li, whose is also the current President of the International Gas Union.

“Thanks to this world first, these containment membrane tanks are on their way to becoming the state-of-the-art in LNG storage. We have been impressed by the dedication and passion of GTT and HQCEC to make this world-first a success,” she stated.

LNG Canada, the export project in British Columbia, has provided one of the greatest reconciliations ever between Canada and its indigenous peoples in terms of economic participation and is also helping to carry the province out of the Covid-19 slowdown.

The Presidency of the International Gas Union (IGU) for 2018-2021 was officially assumed by South Korea at the start of the 27th World Gas Conference taking place in Washington DC from June 25-29.

Nov 29 (LNGJ) - The International Gas Union brought together 70 diplomats and executives at its Diplomatic Gas Forum in the Spanish capital Madrid to discuss the LNG and gas industry. Countries such as the United States, South Korea, China and Middle East nations were represented. The event was hosted by Spain’s Gas Natural Fenosa, whose Chief Executive Rafael Villaseca said natural gas remained an important component of the new energy mix. “The participants in the meeting agreed on the key role of natural gas in improving air quality and combating climate change,” said the closing statement. GNF and the Spanish Gas Association will run the General Secretariat of the IGU until 2022 after taking over from Statoil and the Norwegian Gas Association.

The US Trade and Development Agency, the government body that helps companies create American jobs through the export of goods and services, has launched a gas infrastructure initiative to help with the development and financing of projects for future importers of US LNG.

China has won the election with a woman candidate for the Presidency of the International Gas Union to succeed the current US President of the leading policy body for the global LNG and natural gas industry.

The International Gas Union, the world body that promotes natural gas and LNG use and technology for economic progress, has scheduled an election of a new President to serve from 2021 to 2024 and has three candidates to choose from representing Canada, China and Egypt.

The International Gas Union has released its 2017 Wholesale Gas Price Survey, confirming significant changes in wholesale price formation mechanisms during a period of key developments and upheaval in the global LNG and gas market.