LNG

Papua LNG EPC

A joint venture comprising JGC Holdings of Japan and South Korea’s Hyundai Engineering & Construction of South Korea have been awarded downstream contracts for the Papua New Guinea LNG expansion project. JGC and Hyundai were awarded a front-end engineering and design (FEED) contract and an engineering, procurement and construction (EPC) estimation contract as part of a competition by PNG plant operator ExxonMobil on behalf of the Papua LNG project partners. The project is to build 4 million tonnes per annum of LNG liquefaction capacity adjacent to the existing PNG LNG plant located northwest of the capital Port Moresby.

GTT in patents list

Gaztransport and Technigaz (GTT), the French LNG storage technology company, has taken first place for a fourth consecutive year in list of patent applications from medium-sized companies made to the French Patent and Trademark Office, l’Institut National de la Propriété Industrielle. GTT said it had 57 patents published in 2022. “In the ranking of the Top 50 patent applicants in all categories, GTT is in 23rd place and has moved up seven places compared to the 2021 list,” said the Paris-based company.

Genel Energy boost

Genel Energy plc, the London-listed oil and natural gas company with interests off the beaten track in Kurdistan and Somaliland, reported annual revenues of $432.7 million, an increase on the previous year’s $334.9M and also posted operating profit of $18.3M. “We have a very strong balance sheet with $495M of cash, net cash of $228M, at the end of 2022 and no debt maturity until 2025,” said the company.