In this issue

 

The French Mediterranean port of Marseille-Fos, the nation’s largest trading port, is developing plans for the construction of liquefied natural gas bunkering infrastructure to boost the regional use of LNG…
LNG Journal editor TurkStream, the natural gas export pipeline from Russia to Turkey, has completed its first offshore phase across the Black Sea, while the second onshore phase will deliver…
MISC Berhad, the Malaysian shipping line with 29 LNG carriers, said LNG spot rates rose to a peak in the third quarter after a lacklustre start for the year, fueled…
Sabine Pass plant has shipped a total of 475 cargoes to 29 different countries LNG Journal editor Cheniere Energy, owner of the Sabine Pass LNG export plant in Louisiana, posted an almost…
LNG Journal editor JGC Corp. of Japan, one of the leading global energy engineering companies, has given a frank assessment of the risks posed by some overseas projects in terms…
Toshiba Corp., the Japanese conglomerate emerging from a crisis caused by an accounting scandal and massive losses in the nuclear business, has announced a five-year recovery plan, including the off-loading…
LNG Journal editor US regulators have prepared a draft environmental impact statement for the Plaquemines LNG export plant proposed for the banks of the Mississippi River and its associated Gator…
Japanese spot LNG cargo prices edged up last month on a contracted basis to $10.70 per million British thermal units as winter demand gathered pace in North Asia, where prices…
Tellurian Inc., developer of the Driftwood LNG export plant in Louisiana, said it advanced the sale of LNG and Driftwood partnership interests with around 35 customers and potential partners conducting…
LNG Journal editor Avenir LNG, a small-scale niche market joint venture involving Stolt-Nielsen Ltd, the shipping and storage group and its Norwegian peers, Hoegh LNG and Golar LNG, is now…
Lloyd's Register, the UK maritime classification society, presented South Korean shipbuilder STX with an approval in principle for a tanker design capable of using liquefied natural gas as a fuel. 
LNG Journal editor The International Group of LNG Importers, involving 83 companies, has held a meeting in the Japanese city of Fukuoka and issued a statement on the future role…
LNG Journal editor The Kingdom of Bahrain said it would receive its commissioning cargo from Abu Dhabi National Oil Company when the facility becomes operational in 2019. 
Murphy Oil, the US exploration and production company whose Rotan natural gas discovery offshore Malaysia is the subject of a floating LNG joint venture with state energy company Petronas, has…

News Nudges

Vopak earnings boosted

Royal Vopak, the Dutch global storage company, reported higher annual and fourth-quarter net profits and revenues amid progress on liquefied natural gas projects. Vopak posted revenues for 2023 of €1.42 billion ($1.57Bln) compared with €1.36Bln in 2022. “We expanded our open-access LNG capacity in the Netherlands to support energy security, strengthened our leading position in India and solidified our leading industrial terminal position with investments,” Vopak said. Excluding exceptional items, Vopak reported annual net profits of €412.9 million compared with €294.4M in the previous year and fourth-quarter net profits came to €105 million versus €88.5M in the same three months of 2022. “Growth across most of the business units led to a healthy proportional occupancy of 91 percent and Ebitda of €964M which is a record result for Vopak leading to a 9 percent year-on-year increase,” said Chairman and Chief Executive Dick Richelle. “We successfully completed the divestment of three chemical terminals in Rotterdam and a chemical distribution terminal in Savannah in the United States.


Renergen LNG re-start

Renergen, South Africa’s small-scale liquefied natural gas and liquefied helium production company, has re-started LNG deliveries after a maintenance outage. The LNG plant is part of the Virginia Gas project located about 250 kilometres southwest of Johannesburg. “The delays suffered during the planned maintenance outage were primarily as a result of the scheduled maintenance period being brought forward to coincide with a helium coldbox repair,” said Renergen.


Fall in Inpex profits

Inpex Corp., the Japanese oil and gas company with LNG assets in Australia and Indonesia, reported a 6.8 percent decline in annual consolidated net sales to 2.16 trillion yen ($14.5 billion) from 2.32 trillion yen ($15.57Bln) in 2022 due to a fall in the price of crude oil. Inpex reported a 19.4 percent drop in annual net profits to 371.53 billion yen ($2.49Bln) from 461.06Bln yen ($3.09Bln) in 2022. Net sales of crude oil fell by 9.5 percent to 1.61 trillion yen ($10.78Bln) from the previous year while net sales of natural gas increased by 2 percent to 535.7 billion yen ($3.59Bln). “The average sales price of overseas natural gas decreased by $1.27, or 18.4 percent, to $5.62 per thousand feet. The average sales price of domestic natural gas in Japan increased by 9.9 percent to 90.08 yen ($0.605) per cubic metre,” said Inpex.