LNG

North Asian spot LNG cargo futures prices increased markedly for March and April deliveries while European benchmarks moved higher again as the Netherlands prepares to increase Groningen gas field output, while crude oil prices hit seven-week highs.

Sea-LNG, a global coalition of energy and shipping companies backing the increased use of liquefied natural gas as a maritime fuel, has put the economics case for newbuild Pure Car and Truck Carriers (PCTC) on Pacific and Atlantic trade lanes to be powered by LNG.

June 7 (LNGJ) - Flex LNG, the growing LNG shipping company with four vessels operating and nine others on order and whose largest shareholder is a company controlled by Norwegian magnate John Fredriksen, said its listing on the New York Stock Exchange would take place on June 17.

   The company, already listed on the Oslo exchange, said the company's ordinary shares had been approved for listing and would commence trading on the NYSE under the ticker name “FLNG”. No new shares have been issued in connection with the listing.

Papua New Guinea and energy companies, including liquefied natural gas plant operator ExxonMobil, have signed a formal Gas Agreement with the government defining the fiscal framework for the Papua expansion project.

April 4 (LNGJ) - The 210,100 cubic metres capacity Q-Flex carrier “Duhail” is scheduled to unload a shipment on April 20 at the UK South Hook terminal at Milford Haven in Wales from the Ras Laffan plant in Qatar, according to shipping data. The delivery will head for the UK as the National Balancing Point benchmark natural gas price was at the equivalent of $4.30 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was higher at the equivalent of around $4.65 per MMBtu.

April 1 (LNGJ) - Tellurian Inc., the developer of the Driftwood LNG plant in Louisiana, said it hired former Sempra Energy executive Octavio M.C. Simoes as Senior Advisor to the Chief Executive Meg Gentle. Simoes recently retired from his role as President and CEO of Sempra LNG.

   “Octavio brings 38 years of impressive energy industry experience to Tellurian’s remarkable infrastructure team,” said Gentle. “At Sempra, he led the company’s LNG and natural gas midstream activities, including development and commercialization of Cameron LNG,” added Gentle.

Fluxys Belgium, the operator of the Belgian natural gas network and the Zeebrugge LNG import terminal, reported a drop in net profits due to one-off tax items and higher investments as Russian LNG trans-shipments activities rose along with small-scale fuel loadings.

Singapore LNG cargo indices for October gathered pace to be around US$10.70 per million British thermal units and to more than $11.00 per MMBtu for North Asia cargoes and Dubai-Kuwait-India shipments through the first half of November as front-month crude oil prices remained firm.