LNG

Chiyoda LNG aims

Chiyoda Corp, the leading Japanese energy and LNG engineering company involved in projects worldwide, reported sales of 315.39 billion yen ($2.88Bln) in the fiscal year to the end of March 2021, a fall of 18.3 percent on the previous year. However, Chiyoda pointed out that it expected improvements in the coming year as it executed LNG engineering, procurement and construction projects in Qatar, the US and Nigeria.

Algeria’s permits move

Algeria, the leading natural gas supplier with two LNG plants on the Mediterranean coast and pipelines to Italy and Spain, is taking measure to improve and clarify the authorization process for constructing energy pipelines and infrastructure. They are now defined in two decrees signed by Algerian Prime Minister Abdelaziz Djerad. “The first draft executive decree defines the procedures for obtaining authorizations to construct a pipeline transportation system, while the second defines the procedures for obtaining authorizations to build structures for pipeline transportation of petroleum products,” said a statement.

Spot rates still high

Shipping charter rates for LNG carriers in the spot market were unchanged in the past week, though still at high levels in the Atlantic and Pacific basins. Spot charters for West Of Suez were quoted at between $75,000 per day and $79,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates were at between $70,000 per day and $74,000 per day, according to various brokers.