In this issue

 

Agreement aligns all parties throughout the project value chain from upstream to marketing

Our Europe editor

Ophir Energy of the UK, the licence holder for the Fortuna floating LNG project in Equatorial Guinea, said a full legal and fiscal framework agreement has been signed by all parties, signalling the go-ahead for the venture offshore West Africa with Chinese-sourced loans. 

Our Europe editor

Royal Dutch Shell sold 3.2 percent more liquefied natural gas in the first quarter, helped by higher output from the Gorgon LNG plant in Western Australia as income for the Integrated Gas division more than doubled. 

UK major BP announced improvements in its Trinidad LNG production assets and advances in its joint venture plans offshore Mauritania and Senegal in West Africa to develop floating liquefaction projects. 

Our Europe editor

Royal Vopak, the Dutch-based global petroleum and products storage company, has decided not to proceed with the proposed acquisition of the floating storage and regasification and LNG import projects business of Belgian shipping line Exmar. 

International law firm Norton Rose Fulbright has hired LNG and shipping experts Jonathan Siu and Sung Hwan Choi for its shipping and offshore oil and gas team in its Singapore office. 

Ras Laffan Liquefied Natural Gas Co. (RasGas), the Qatari producer currently finalizing its merger with Qatargas, has successfully loaded and delivered its 2,000th cargo to Korea Gas Corp., one of the world’s largest importers. 

Our North American editor in New York

NextDecade, the US LNG export project developer, has appointed French bank Societe Generale and Australia’s Macquarie Capital to act as joint financial advisors for the debt and equity financing of the Rio Grande project at the Texan port of Brownsville. 

US independent exploration and production company Devon Energy said it planned to sell upstream shale-gas assets worth around $1 billion, mostly in the Barnett shale area and which could be attractive to European and Asian LNG liquefaction tolling agreement holders. 

Our North America editor in New York

Chart Industries, one of the leading global suppliers of liquefaction and storage equipment, narrowed its net loss in the first quarter amid mixed LNG results and continued restructuring expenses ahead of the company moving its headquarters from Cleveland, Ohio, to Canton in the US state of Georgia. 

Our Europe editor

TechnipFMC, the energy and liquefied natural gas project engineering company, reported its first quarterly earnings since the company was created from the merger of France’s Technip and FMC Technologies of the US and said LNG projects were still fundamental to its performance. 

Tamrotor Marine Compressors, the Norway-based equipment supplier, has signed a contract with Hyundai Heavy Industries to supply a complete marine compressed air system to a newbuild floating storage and regasification unit the South Korean yard is building for Norwegian project developer and shipping line Hoegh LNG. 

Air Products, the US equipment and technology supplier for liquefied natural gas liquefaction projects, posted its fiscal 2017 second-quarter earnings showing a rise in sales offset by a drop in the LNG business and made a cautious forecast for the rest of the year. 

Our Europe editor

Italian energy company Eni will supply LNG to Pakistan under a long-term contract to a new floating storage and regasification unit to be moored at Port Qasim. 

Noble Energy of US, the main production company in the East Mediterranean, said it began exporting natural gas from Israel for the first time to industrial customers in Jordan as part of a ramp-up of pipeline supplies in the region that may displace LNG shipments. 

News Nudges

Armenia gas fuel lead

Armenia’s position as the world’s largest user of gas-fueled vehicles as a proportion of cars, trucks and buses on the road was highlighted during a visit to the former Soviet state by Alexey Miller, Chairman of Russian natural gas giant Gazprom. Miller noted that Russian gas exports to Armenia amount to 1.9 billion cubic metres per year as the country has no energy resources of its own. “Gazprom expressed its appreciation for a robust use of natural gas in different economic sectors, including transportation. At present, around 80 percent of vehicles in the country run on natural gas,” said Gazprom.


GTT LNG storage order

GTT, the French LNG maritime storage technology company, said it received an order from Hyundai Heavy Industries of South Korea to equip a new LNG carrier with its Mark III Flex containment system. Hyundai's shipyard based in Ulsan will build the 180,000 cubic metres capacity vessel for the Norwegian shipping company Norspan LNG (Knutsen). Delivery is scheduled for 2019. The Knutsen fleet contains 10 large-scale LNG carriers in service and one on order. These LNG carriers are all equipped with GTT containment systems.


Mexico bid round ends

Mexico has awarded 10 out of 15 licences for exploration in shallow water blocks in the Tampico-Misantla, Veracruz, and Southeast basin areas along the country’s Gulf Coast. Twenty companies and 16 joint ventures from 15 countries took part in the bidding. Italian energy company Eni and Russia’s Lukoil were two individual operators awarded offshore acreage.