In this issue

 

Santos, the Australian stakeholder in the Gladstone, Darwin and Papua New Guinea LNG plants, logged a first-half net loss of US$1.1 billion because of a previously announced impairment charge for…
Our Asia Pacific editor Pavilion Energy of Singapore, the liquefied natural gas player backed by the city state’s Temasek wealth fund, has advanced with its plans to develop small-scale LNG…
Atlantic, Gulf and Pacific Co. (AG&P) of the Philippines, a fabrication, assembly and modularization company used by major Asia-Pacific LNG projects, has announced a joint venture with Gas Entec of…
Port Arthur venture of Sempra and Woodside and Exelon’s Annova project move forward Our North America editor in New York Two US LNG export projects at Port Arthur and Brownsville…
Our North America editor in New York LNG Canada, the project being developed in British Columbia by Royal Dutch Shell and leading Asian energy partners, has further delayed its final…
Woodside, the operator of two of Australia’s liquefied natural gas export plants, has signed an agreement to pay ConocoPhillips US$350 million for the US major’s interests offshore the Western African…
Our Europe editor SEA-LNG Chairman is US Shipping exec Peter KellerA host of leading liquefied natural gas players such as energy major Royal Dutch Shell, Middle East producer Qatargas, French…
The Japan Fair Trade Commission, a regulatory body aimed at maintaining competitive markets, is investigating long-term liquefied natural gas supply contracts with destination clauses that impose restrictions on buyers selling…
South Korea’s Hyundai Heavy Industries-Engine and Machinery Division and shipowner Ilshin have signed a shipbuilding contract for a 50,000 dead-weight tonnage bulk carrier with liquefied natural gas propulsion provided by…
Our Europe editor The Italian-Spanish engineering consortium that built Europe’s newest liquefied natural gas import terminal at the French Channel port of Dunkirk has expressed satisfaction at the project reaching…
Our North America editor in New York Driftwood LNG, a US export development company owned by former Cheniere Energy Chief Executive Chafir Souki and ex-BG Group LNG chief Martin Houston,…
Our Europe editor GasLog Ltd., the Monaco-based LNG fleet operator with 22 ships owned and operated, has signed a seven-year time charter party with France’s Total Gas & Power Chartering…
The US Senate voted to appoint seven members to a conference committee with the House of Representatives to reconcile corresponding energy bills affecting liquefied natural gas export projects.
Aker Solutions, the Norwegian energy and LNG project engineering company, said the markets were challenging and projects are being postponed across the industry, though cost cuts are driving down break-even…

News Nudges

LNG hub changes

Petronas, the Malaysian energy company, has seen one of its subsidiaries, Petronas Carigali Sdn Bhd (PCSB), take over the operatorship of the E11 natural gas hub, located 130 kilometres offshore Bintulu in Sarawak, the Malaysian state on the island of Borneo. Petronas noted that the E11 hub, which has been producing since 1982 under the Malaysia LNG production sharing contract, had been operated by Royal Dutch Shell unit Sarawak Shell Bhd (SSB) for the past 38 years.


Korean LNG fuel move

South Korea, the largest builder of LNG carriers to transport the fuel worldwide, is increasing its own domestic fleet of LNG-powered ships and is offering grants of up to 20 percent for ship owners to convert. The Ministry of Oceans and Fisheries said that 39 small ships fuelled by LNG are expected to be completed at local shipyards in 2021, including 23 vessels to be used by Korean government agencies.


Charter rates increase

Shipping charter rates for LNG carriers in the spot market increased as Northern Hemisphere winter market demand surged. Rates were quoted at an average of between $168,000 per day and $172,0000 per day West of Suez. Spot rates of $158,000 to 162,000 were heard for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters also increased for the most modern vessels and ships were available for around $49,000 per day.