LNG

Flex LNG earnings

Flex LNG, the shipping company with a fleet of 13 vessels, reported higher third-quarter revenues of $81.8 million and increased quarterly net income to $32.8M. “In the fourth quarter, we will also be handsomely rewarded for maintaining a 30 percent exposure to the spot market as the spot market is currently at all-time highs,” said Øystein Kalleklev, Chief Executive of Flex LNG Management AS. The Bermuda-based company’s average time charter equivalent rates were $68,341 per day for the third quarter, up from $57,780 per day in the previous three months.

Pavilion methodology

Pavilion Energy of Singapore along with QatarEnergy and US major Chevron Corp. have jointly published a “quantification and reporting methodology” to produce a statement of greenhouse-gas emissions for delivered LNG cargoes. This is the first such published methodology that will be applied to sales and purchase agreements (SPAs), specifically the executed SPAs of Pavilion Energy with QatarEnergy and Chevron.

Mozambique naming

The “Coral-Sul FLNG” vessel, the floating LNG hull to be deployed in 2022 in the deep waters of Mozambique in southeast Africa, has been formally name at the Samsung Heavy Industries shipyard in Geoje in South Korea. The guests of honour were Mozambican President Filipe Jacinto Nyusia and South Korean President Moon Jae-In. Italian energy company Eni said it attended as delegated operator and on behalf of its Mozambique Rovuma Basin Area 4 licence partners.