LNG

Pavilion Energy Pte Ltd and Singapore LNG Corp Pte Ltd (SLNG) have signed a five-year agreement for LNG storage and reload services at the SLNG Terminal on Jurong Island.

This is the first such agreement signed for a term longer than two years, following a competitive bid process and further strengthens the two companies co-operation.

The terminal to dock LNGCs to supply gas for 350 MW LNG power plant in Myanmar’s Thilawa Special Economic Zone is about 40% complete.

AB Klaipedos nafta (KN) has concluded a loan agreement with Nordic Investment Bank for up to €160 mill.

This will be used to finance the acquisition of an FSRU. 

The loan is for up to 25 years and, upon approval of the state aid by the European Commission, 100% of the company’s financial obligations under the loan agreement will be secured by a state guarantee.

The final loan amount will be determined by the cost of FSRU and the total costs of the technical and financial commitments.

Main terms of the acquisition of the specific FSRU and the final decision will be approved in a separate KN Board meeting.

Dynagas LNG Partners has reported fourth quarter 2019 net income of $5.5 mill, compared to a net loss of $0.9 mill in the corresponding period of 2018.

This represents an increase of $6.4 mill, or 711.1%, which was mainly attributable to the rise in voyage revenues, as well as the decrease in drydocking and special survey costs and finance costs for the quarter.

Mexico Pacific Limited (MPL) has awarded a Front End Engineering Design (FEED) contract to Technip USA.

This represents one of the final milestones to moving the project into construction and operation mode, the company said.

Air Products is to supply two LNG heat exchangers for the Mozambique LNG Project.

The contract was signed with the joint venture company comprising affiliates of Saipem, McDermott and Chiyoda.

GTT SA’s subsidiary, GTT North America, has signed a five-year global technical services agreement with Excelerate Energy.

GTT will support Excelerate Technical Management (ETM) with the maintenance and operation of nine FSRUs equipped with GTT’s NO96 technology. 

The agreement includes GTT on-site technical assistance for inspection, maintenance, repairs, operations and engineering, as well as access to the HEARS emergency hotline, which enables shipowners and their crews to contact GTT 24/7 to respond to operational issues.

Philippe Berterottière, GTT Chairman and CEO, said “We are pleased to have the opportunity to support a long term partner like Excelerate Energy in the efficient operations of their FSRUs. This agreement is pivotal to develop customised services, ensuring the performance and safety of each FSRU in operation.” 

Edward Scott, Excelerate Energy COO, added: “Excelerate Energy looks forward to continuing a nearly two decades long relationship with GTT in direct support of our mission of providing safe and reliable world-class LNG services to our global customer base.”

The 7th session of IMO’s Sub-Committee on Ship Systems and Equipment (SSE) was held in London from 2 to 6 March 2020.

Golar LNG Limited has appointed Callum Mitchell-Thomson as its new CFO.

This follows the announcement that Graham Robjohns has decided to step down from the role. 

ASYAD Group has integrated LNGC shipowner Oman Shipping Company (OSC) with repairer Oman Drydock Company (ODC).

This move is in alignment with the Group’s strategy to offer integrated and highly efficient services, it said. 

Engineer Abdulrahman Salim Al Hatmi, ASYAD Group CEO, said: “This move towards integration aims to raise the Group's efficiency and boost its economic and financial performance; ensuring its commercial sustainability and agility, while contributing to the national economy. We strive to advance the Government’s diversification plans- increasing economic prosperity while supporting the private sector in the Sultanate.” 

“Our Group's main objective is to fortify the Sultanate’s position as a logistic gateway to MENA markets, placing ASYAD Group as the first choice for customers requiring globally-proven, integrated and trusted services. The Group is constantly reviewing its operational, commercial and financial performance to remain adaptive to macro developments and keep pace with industrial trends nationally, regionally and globally,” Al Hatmi concluded.