In this issue

 

Our Europe editor Ophir Energy of the UK said its Fortuna floating liquefied natural gas project offshore Equatorial Guinea in West Africa was now a low-cost upstream venture and technically…
Our Asia-Pacific editor Global LNG Exchange, a company based in the Australian city of Perth, is progressing with plans for its platform to buy and sell spot LNG cargoes via…
Our North America editor in New York Air Products, the world’s leading maker of liquefied natural gas processing equipment, has marked the roll-out of the first completed LNG heat exchanger…
General Electric’s oil and gas unit said it was awarded a contract to supply gas turbine-driven compressors for the third liquefaction Train planned for the Indonesian Tangguh LNG plant operated…
The US northeast state of Maine may have finally seen its liquefied natural gas import-export venture run out of regulatory time, but it is currently considering an LNG storage project…
Our Asia-Pacific editor Origin Energy, a stakeholder in the Australia Pacific LNG plant with China’s Sinopec and ConocoPhillips, named Frank Calabria as its next Chief Executive and Managing Director following…
Our Europe editor Global Infrastructure Partners (GIP), a US private equity firm, has agreed to buy a 20 percent stake in Spain’s Gas Natural Fenosa group, a leading liquefied natural…
Our Asia-Pacific editor The Government of India said the northeast river port of Kolkata has recently set aside 10 acres of land to build a liquefied natural gas terminal to…
Japan said the price of spot liquefied natural gas cargoes imported into the country in August averaged $5.40 per million British thermal units, lower than last month’s price and $2.30…
Osaka Gas Co., one of Japan’s largest liquefied natural gas buyers with long-term contracts to receive cargoes from nations such as Qatar and Australia, said it was in talks with…
Our Europe editor French energy company Total said its US subsidiary would exercise its pre-emption right to acquire the 75 percent interests in a Barnett Shale operating area located in…
Anadarko Petroleum Corp., which recently said it would take a final investment decision on the Mozambique liquefied natural gas export project in southeast Africa when political and financial uncertainly ended,…
Dutch company has earmarked LNG storage as a strategic focus Our Europe editor Belgian shipping company Exmar said it was continuing to discuss the acquisition by Royal Vopak of the…
Our Asia-Pacific editor Australia Pacific LNG project in Queensland, owned by ConocoPhillips, China’s Sinopec and Origin Energy, has signed an agreement for APA Group, the nation’s biggest gas transporter, to…

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.