In this issue


Our Europe editor Royal Dutch Shell's second liquefied natural gas-powered offshore supply vessel "Harvey Power" has taken to the water in the US Gulf of Mexico and will serve platforms…
Crowley Maritime Corp., the US shipping line, held a naming ceremony on November 3 for the first of four new Jones Act oil products tankers with liquefied natural gas conversion…
The American Bureau of Shipping, the US classification society, was selected to class an LNG bunker barge under construction at a Texas shipyard that will be used to refuel ocean-going…

News Nudges

Stolt-Nielsen profit surge

Stolt-Nielsen Limited, the London-based terminals and shipping company listed on the Oslo bourse and a stakeholder in the Avenir LNG joint venture for small-scale carriers and other assets, reported increased net profits of $95.3 million versus $35.02 in the 2021 quarter and with higher quarterly revenues of $732.5M. Net profits for the full year amounted to $280.8M compared with $78.8M in 2021. “The fourth quarter capped a stellar year, where all businesses performed well,” said Niels G. Stolt-Nielsen, Chief Executive.

Tokyo Gas earnings

Tokyo Gas, the utility and LNG importer, reported a more than 72 percent increase in nine-month revenues from natural gas sales totalling 1.55 trillion yen ($11.9Bln) compared with 907.84 billion yen ($6.9Bln) in the same period of the previous year. The utility said nine-month operating profit rose more than four-fold to 235.7Bln yen ($1.8Bln) versus 52.3Bln yen ($409M) in the prior-year period.

QatarEnergy Lebanon deal

Leading LNG exporter QatarEnergy has completed its purchase of a 30 percent interest in exploration Blocks 4 and 9 offshore Lebanon. QatarEnergy bought its stake from the two other shareholders in the blocks, France’s TotalEnergies and Italy’s Eni. The deal was endorsed in Beirut during a ceremony attended by all the parties including Walid Fayad, the Minister of Energy and Water of Lebanon and Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and Chief Executive of QatarEnergy.