LNG

UK major Shell is said to be finalizing the acquisition of liquefied natural gas assets of Pavilion Energy, the natural gas company set up by Singapore’s wealth fund Temasek, to give the Asian island state energy security.

UK major Shell plc reported an increase in net profits for the first three months of the year as liquefied natural gas sales volumes rose by 6 percent on the previous quarter, though were slightly less than the same quarter of 2022.

GasLog Ltd, the operator of a fleet of 27 vessels along with affiliate GasLog Partners, posted a more than 78 percent surge in annual profits as global energy shipping activities intensified and charter options were extended.

Teekay LNG Partners reported a jump in net income in the third quarter as the shipping company prepared for a December vote on a deal worth $6.2 billion to become the latest LNG fleet to be taken over by, or merged with, US equity fund interests.

ABB, the Swiss-Swedish power systems company, said its turbocharging unit had won a contract to equip parts of the new propulsion systems for six liquefied natural gas carrier newbuilds ordered by four companies.

ABB Turbocharging will deliver its A200-L turbocharger brand for the engines of the vessels.

The Zurich-based company said its low-pressure, dual-fuel engine offered environmental benefits at reduced capital cost.

Its A200-L turbochargers will be used on the engines being supplied by MAN Energy Solutions, the Denmark-based subsidiary of the German engine-maker.

The MAN 5G70ME-C10.5-GA engines will be installed in six 174,000 cubic metres capacity LNG carriers ordered by four different shipowners, Korea Line Corp. and PAN Ocean of South Korea, Knutsen OAS of Norway and JP Morgan, the US-based bank and investment firm.

The newbuilds will be the subject of long-term charter agreements with Royal Dutch Shell.

Offerings

ABB pointed out that the ME-GA is MAN’s first low-pressure, dual-fuel, two-stroke engine and sits alongside MAN’s well-established high-pressure M-Type Electronically Controlled-Gas Injection (ME-GI) engines.

The ME-GA, according to ABB and MAN, offers LNG carriers and other vessels an alternative way to cut greenhouse-gas emissions and minimize air pollution.

“Turbocharger performance is particularly important for dual-fuel engines. High turbocharging efficiency ensures that a high air-fuel ratio is maintained during high-load operations,” said ABB Turbocharging.

“The A100/A200-L series is ABB’s most advanced single-stage turbocharger technology for two-stroke engines, using the latest thermodynamic and aerodynamic expertise to pack the highest pressure ratios and efficiency currently available into a compact unit,” it added.

ABB explained that the small footprint also translated into a lower cost of ownership as spare parts are smaller and more economical and the turbocharger itself is easier to handle for servicing.

“When engine designers and makers want reliable high performance to support new engine technologies, they look to ABB turbochargers,” said Alexandros Karamitsos, Head of Global Sales Low-Speed Turbochargers, ABB.

“I am confident that shipowners will increasingly value our combination of technology leadership and global service coverage as incoming emission regulations encourage them to explore new fuels and engine concepts,” stated Karamitsos.

Leading ship management company V Group has appointed former Shell executive David Taylor as Managing Director of the liquefied natural gas division as it prepares for the expansion of the global LNG fleet.

Royal Dutch Shell said it signed agreements to charter 10 new crude oil tankers powered by dual-fuel liquefied natural gas engines and under construction in South Korea.