LNG

Baker Hughes Company, the US energy services and LNG equipment supplier, has signed an agreement with Oman LNG for the turbomachinery scope as part of a de-bottlenecking project in the Arabian Peninsula nation.

General Electric, the US power systems provider, said it was chosen to provide key equipment for the proposed increase in liquefied natural gas production at the Sultanate of Oman liquefaction plant in the Arabian Peninsula.

The Sultanate of Oman said the Middle East would continue to be a growth area for liquefied natural gas production and Oman itself has plans to boost output, while the nation’s current 3 percent contribution to global LNG supplies is pivotal in keeping the balance of supply and demand.

A round-up of latest events, company statements, industry reports and people in the news

A round-up of latest events, company statements, industry reports and people in the news.

This is part two of an article from US credit rating agency Standard & Poor’s on applying credit analysis in the LNG industry, particularly in relation to LNG carriers, and the financial and legal risks involved

Terry A Pratt, New York , Jan Willem Plantagie, Frankfurt, Karim Nassif, London, Michael K Vernier New York

LNG newbuild carrier prices have varied over time. The variation is due to a number of factors, mostly the price of material, especially steel, as well as exchange rates and yard utilization.

The steep fall in prices in the late 1990s was due to the Asian crisis, during which time South Korean shipyards offered favorable pricing and payment arrangements for newbuilds in order to attract foreign currency.