In this issue

 

LNG Journal editor

Singapore LNG Corp., operator of the import terminal in the Asian city state, said it successfully completed modifications to its secondary jetty on Jurong Island and was now able to handle small-scale LNG carriers. 

Western Canadian natural gas producers have formed a consortium to explore ways of sending their resources to market, including the possibility of planning their own LNG export project in British Columbia. 

Pavilion Energy said it would be chartering its first liquefied natural gas bunkering vessel to supply LNG fuel in the Port of Singapore and the Japanese-owned ship will have 12,000 cubic metres of capacity. 

LNG Journal editor

Flex LNG, the growing LNG shipping company with four vessels operating and nine others on order and whose largest shareholder is a company controlled by Norwegian magnate John Fredriksen, posted a rise in net profits as fourth-quarter spot LNG cargo rates reached record levels then slumped in the first quarter of 2019. 

Hoegh LNG, the Norwegian fleet owner and floating import project developer, reported rising profits as it advanced with projects to supply two Australian states with natural gas, while focusing on China and listing more than a dozen other countries likely to deploy floating storage and regasification units as terminals. 

LNG Journal editor

Crowley Maritime Corp., one of the US shipping lines pioneering vessels with LNG fuel capability, marked its commitment to the Florida-Puerto Rico trade route with a ceremony at San Juan port in the US Caribbean territory. 

Enagas, the Spanish natural gas network owner and LNG terminals operator, reported firm profits and the 85 percent completion of Trans Adriatic Pipeline, part of Europe’s Southern Gas Corridor. 

Teekay Partners post over 14 percent rise in annual cash flow of $515.3M from fleet

LNG Journal editor

Teekay LNG Partners, the carrier fleet operator, posted a more than 14 percent increase in total cash flow from vessel operations of $150.1 million in the fourth quarter and $515.3M for all of fiscal 2018 as it forecast rising income from the company’s stake in the Bahrain LNG import project in the Gulf. 

LNG Journal editor

Origin Energy, a stakeholder in the Australia Pacific LNG plant with ConocoPhillips and China’s Sinopec, said it agreed to sell its Ironbark gas project in Queensland to the APLNG project to provide additional feed-gas. 

Santos, the Australian operator of the Gladstone liquefied natural gas plant in Queensland and a stakeholder in export plants in Darwin and Papua New Guinea, returned a solid annual net profit and boosted sales by 18 percent. 

LNG Journal editor

Woodside Petroleum Chief Executive Peter Coleman said that after the company’s strong performance in the past year it was looking forward to sanctioning more than US$30 billion of new liquefied natural gas projects. 

Indian Oil Corp., the refining and fuel marketing company, is set to begin commissioning of the first liquefied natural import terminal on the East Coast of India near the city of Chennai. 

Santos, the Australian LNG plant operator and stakeholder, said it reached an agreement to align the company’s interests, under Santos operatorship across four exploration permits in the Bonaparte Basin offshore Northern Australia adjacent to large existing natural gas resources set to be developed for liquefaction and export. 

LNG Journal editor

Kosmos Energy, a main partner in the BP-led floating liquefied natural gas projects offshore Senegal and Mauritania in West Africa, has announced key management changes as its FLNG proposals move forward. 

News Nudges

BW purchases Epic Gas

BW Group, the Singapore-based shipping line with a fleet of 20 LNG carriers and liquefied petroleum gas vessels, has acquired majority control of Epic Gas, the owner of a fleet of small pressurized LPG carriers. Epic, also based in Singapore, has a fleet of 39 vessels ranging from 3,500 cubic metres capacity to 11,000 cubic metres capacity serving the short-haul and regional LPG and chemicals trade. “BW is pleased to acquire this shareholding in Epic Gas with its strong operational platform and quality fleet,” said Andreas Sohmen-Pao, Chairman of BW.


Swedish start for bunker ship

The 7,500 cubic metres capacity LNG bunkering vessel “Kairos” has conducted its first LNG supply operation for the newbuild ferry “Visborg” at the ferry pier of the port of Visby on the Swedish island of Gotland in the Baltic Sea. The “Kairos”, built at the Hyundai Mipo Dockyard in South Korea and delivered to Hamburg in Germany at the end of 2018, is owned by the joint venture company Babcock Schulte Energy.


Greek vessel charters

Tsakos Energy Navigation, the Greek shipping company, has agreed charters for its two LNG carriers. Tsakos said that it signed deals for the “Neo Energy” and the “Maria Energy” for an aggregate period of 36 months. The revenues are expected to be in the region of $60 million. “With two vessels fixed on accretive medium-term charters, the company is examining further expansion in the sector,” said Chief Operating Office George Saroglou.