The crude oil price has made a spectacular comeback in just over a year from being down 80 percent to $13.34 per barrel to now being at more than $70 a barrel, taking oil-linked LNG into more comfortable territory for what remains the pricing basis for the majority of LNG shipments delivered worldwide.
Malaysia’s state-owned PETRONAS has shown flexibility towards long-term LNG buyers by adopting hybrid price formulae. Some of the recently concluded sales agreements with Chinese buyers are based on China’s domestic LNG Truck prices, and a spot cargo from Bintulu, Malaysia was sold under a new ICE NGX index (AECO); our Markets Editor Anja Karl was told.
Negotiations on Tanzanian LNG development have been stuck in limbo for years. Led by a new President, the country reaffirmed its keen interest in LNG ‘lift-off’. IOCs pledged collaboration but highlighted the ‘need for speed’ in a competitive market. Our markets editor Alexander Wilk investigates.
Beijing is meddling politics and trade relations with Australia. At least two smaller Chinese LNG importers have been mandated to stay clear from buying any more of the super-chilled gas from Down Under this year and in 2021, but the rhetoric is having limited impact so far; our Markets Editor Anja Karl finds.
Weaker Pacific LNG flows were cushioned by higher US and Qatari exports whilst demand saw robust seasonal increases outside Europe up to 25 May, our Markets Editor Alexander Wilk reports.
Greater design efficiency and the application of an array of proven technologies will provide a pathway to longer term emissions reductions, claimed Rene Sejer Laursen, ABS’ Director of Fuels and Technology.
June 18 (LNGJ) - The Chief Executive of India’s Petronet LNG, Akshay Kumar Singh, told a conference that the nation needed more regasification and other infrastructure to meet increasing natural gas demand. He noted that Petronet, operator of the largest terminal at Dahej north of Mumbai and the southwest Kochi facility in Kerala, accounted for a good proportion of the existing 42.5 million tonnes per annum of import capacity of the six operating terminals.
Singh said India needed to increase its LNG import capacity to 155 MTPA, considering that utilization would be 80 percent, to supply the growing market. “LNG will play a major role in catering to this incremental demand and the share of LNG in natural gas consumption is likely to increase from the present 55 percent to 70 percent in the coming 9-10 years,” stated CEO Singh.
June 17 (LNGJ) - Shipping charter rates for LNG carriers in the spot market rose again in the past week by around $10,000 per day in the West of Suez market to between $74,000 per day and $68,000 per day for vessels of 155,000-165,000 cubic metres capacity.
For vessels East of Suez spot charter levels were up $6,000 per day to between $60,000 per day and $56,000 per day, according to London brokers. One-year charter rates for the most modern vessels also edged higher to around $79,000 per day.
June 16 (LNGJ) - LNG fleet owner GasLog Partners LP has signed two new time- charter agreements with major oil and gas companies Royal Dutch Shell and TotalEnergies. The deals include a one-year charter for the 155,000 cubic metres capacity “GasLog Sydney” with a subsidiary of TotalEnergies, beginning this week, as well as an approximately eight-month charter with Shell for the “Solaris”, also a vessel with 155,000 cubic metres of capacity and beginning immediately.
“I am very pleased to announce these new charters with global energy majors,” said Paul Wogan, Chief Executive of GasLog Partners. “The agreements are at fixed daily rates of hire at returns in line with the historic long-term average, underscoring the strengthening LNG carrier spot market observed so far this year,” added Wogan.
June 16 (LNGJ) - Capital Gas Ship Management Corp. has taken delivery of a new LNG carrier, the “Aristarchos”, built by Hyundai Heavy Industries in South Korea. “With cargo capacity of 174,000 cubic metres, the vessel is highly efficient, propelled with XDF engines and equipped with the latest available technologies, including an air lubrication system and increased filling limits of more than 99 percent,” said Capital Gas.
“It is the third of seven sister ships to be delivered between 2020-2023. The vessel has been chartered to Cheniere for a period up to six years,” said the Piraeus, Greece-based company. Capital Gas is a ship management service provide and currently manages a fleet of seven modern LNG carriers, four under construction and three trading.
June 15 (LNGJ) - The 206,950 cubic metres capacity Q-Flex carrier “Al Aamriya” is scheduled to deliver a shipment on June 20 to the UK Dragon import terminal at Milford Haven in Wales from the Qatari export plant at Ras Laffan in the Gulf, according to the port authorities.
June 14 (LNGJ) - The “Boris Vilkitsky” with 177,000 cubic metres of capacity is scheduled to deliver a Russian LNG cargo on June 15 to the Isle of Grain LNG import terminal, operated by National Grid Plc, on the Medway-Thames estuary 45 miles southeast of London. The shipment, lifted on June 7 from the Yamal plant in northern Siberia, is arriving in the UK as the National Balancing Point (NBP) natural gas price was at the equivalent of $9.55 per million British thermal units. The Dutch Title Transfer (TTF)) price for Continental Europe was at the equivalent of $9.85 per MMBtu.
June 11 (LNGJ) - Shipping charter rates for LNG carriers in the spot market rose again in the past week by around $5,000 per day in the West of Suez market to between $64,000 per day and $60,000 per day for vessels of 155,000-165,000 cubic metres capacity.
For vessels East of Suez spot charter levels were unchanged at between $54,000 per day and $50,000 per day, according to London brokers. One-year charter rates for the most modern vessels edged higher to around $78,000 per day.
June 10 (LNG) – The European natural gas and LNG benchmark price, the Dutch Title Transfer Facility, increased to a 2021 high of just over $10 per million British thermal units on June 10 as cargoes headed for European Union ports from Qatar and Russia. The 177,000 cubic metres capacity carrier “Eduard Toll” was scheduled to deliver a cargo to Rotterdam on June 12 from the Yamal plant in Russia, while the 173,400 cubic metres capacity “Ribera Del Duero Knutsen” was due to discharge a shipment from Qatargas on June 17 at the Bilbao terminal in northwest Spain, according to shipping data.
June 9 (LNGJ) - Pavilion Energy of Singapore and the UK major BP, through its trading arm in the Asian city-state, have signed a long-term LNG sale and purchase agreement (SPA) for the supply of around 800,000 tonnes of LNG per year to Singapore for 10 years from 2024. Beyond the supply of LNG to Singapore, both companies will strive to co-develop and implement a greenhouse gas (GHG) quantification and reporting methodology.
“This agreement further strengthens our relationship with BP as Pavilion Energy advances our strategies for a lower carbon future, beginning with GHG emissions quantification, reduction and offsets for Singapore,” said Frédéric H. Barnaud, Group Chief Executive of Pavilion, a subsidiary of Singaporean wealth fund Temasek.
June 9 (LNG) - The 261,980 cubic metres capacity Q-Max carrier “Al Dafna” is scheduled to deliver a shipment on June 16 to the UK South Hook import terminal at Milford Haven in Wales from the Qatari export plant at Ras Laffan in the Gulf, according to the port authorities.
June 8 (LNGJ) - French LNG storage tanks technology firm GTT was ranked first in the list of intermediate-sized companies (ETIs) issued by the France-based National Institute of Industrial Property (INPI) for patent applications, numbering 58 patents. In the ranking of the Top 50 patent applicants in all categories, GTT came in 30th place. “This ranking confirms GTT's strong capacity for innovation. With a research and development budget representing 10 percent of its turnover in 2020, GTT places innovation at the heart of its strategy, in all its activities,” said the company.
June 7 (LNGJ) - The Russian LNG carrier “Georgiy Ushakov”, with 172,000 cubic metres of capacity, is scheduled to arrive with a cargo on June 8 at the UK Isle of Grain LNG terminal on the Medway-Thames estuary southeast of London from the Yamal plant in northern Siberia. A second carrier, the 171,800 cubic metres capacity “Tessala”, is due at Grain LNG on the same day from the Algerian export plant at Arzew on the Mediterranean coast.
June 4 (LNGJ) - Black and Veatch of the US, the Kansas-based supplier of LNG and energy equipment and solutions, has been selected to conduct a technical, engineering and commercial study for the Andes Energy Terminal project in the South American nation of Colombia. The gas-to-power venture would be centred on Buenaventura in Colombia’s Aguadulce Peninsula.
“The study will build on commercial and technical work previously completed by the sponsors and focus on the development of an LNG regasification facility and 400 megawatts of natural gas-fired power generation for cities in central and southwestern Colombia,” said the company.
June 4 (LNGJ) - French LNG storage tanks technology firm GTT has received another order for the design of two very large membrane full containment storage tanks from China’s Chengda Engineering. GTT will design the two latest generation tanks, each with a net capacity of 220,000 cubic metres.
GTT said the order was part of the cooperation agreement between Beijing Gas and GTT related to the Tianjin Nangang LNG terminal project in northeast China. The two tanks are scheduled to be delivered to the Tianjin South Industrial Zone for Phase III construction in the second quarter of 2024.
June 3 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were little changed in the past week in the West of Suez market at between $59,000 per day and $55,000 per day for vessels of 155,000-165,000 cubic metres capacity. For vessels East of Suez fixture levels were down by at least $2,000 per day and were quoted at between $54,000 per day and $50,000 per day, according to London brokers. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.
June 2 (LNGJ) - Korea Shipbuilding and Offshore Engineering (KSOE), the world's leading shipbuilding group comprising Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries, said orders have come in from five customers for 12 ships valued at $1.2 billion. The orders include four LNG carriers and a mid-scale liquefied petroleum gas (LPG) carrier, which will be delivered by the first half of 2024.
At the end of May, global new orders for ships came to 17.95 million compensated gross tons (CGTs), representing 83 percent of the 21.50 million CGTs ordered last year, said KSOE, citing market data firm Clarksons.
June 1 (LNGJ) - The “Nikolay Yevgenov” with 172,000 cubic metres of capacity was delivering a Russian cargo on June 1 to the Isle of Grain LNG import terminal, operated by National Grid Plc, on the Medway-Thames estuary 45 miles southeast of London. The shipment, lifted on May 22 from the Yamal plant in northern Siberia, is arriving in the UK as the National Balancing Point (NBP) natural gas price was at the equivalent of $8.90 per million British thermal units. The Dutch Title Transfer (TTF)) price for Continental Europe was at the equivalent of $9.00 per MMBtu.
May 31 (LNGJ) - The 138,100 cubic metres capacity carrier, the “Berge Arzew” is scheduled to deliver an Algerian cargo on May 31 to the Isle of Grain LNG import terminal, operated by National Grid Plc on the estuary 45 miles southeast of London. The shipment, lifted on May 25 from the Arzew plant on the Mediterranean coast of Algeria, is arriving in the UK as the National Balancing Point (NBP) gas price was firm at the equivalent of $8.60 per million British thermal units.
May 28 (LNGJ) - Mumbai Port Trust, the largest Indian port authority on the West Coast, has confirmed the signing of a 30-year licence agreement with SP Armada Clean Energy Ventures, a Malaysian-backed project planning the construction and deployment of a floating storage and regasification unit (FSRU) in Mumbai Harbour.
Indian energy company Shapoorji Pallonji Oil and Gas Private Ltd owns 51 percent of the SP Armada Clean Energy Ventures and the balance is held by subsidiaries of Malaysia's Bumi Armada Group. India currently has seven LNG import facilities, six on the West Coast and one on the East Coast.
May 27 (LNGJ) - Shipping charter rates for LNG carriers in the spot market declined in the past week by up to $6,000 per day in the West of Suez market to between $59,000 per day and $56,000 per day for vessels of 155,000-165,000 cubic metres capacity. For vessels East of Suez fixture levels were down by about $8,000 per day and were quoted at between $61,000 per day and $58,000 per day, according to London brokers. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.
May 26 (LNGJ) - Two LNG cargoes are scheduled to arrive in the UK in the next week amid increasing natural gas prices, one at the Isle of Grain import terminal in Kent on May 27 from the Yamal plant in northern Russian and a second at the Welsh port of Milford Haven from Qatar. The Yamal cargo will arrive on board the “Nicolay Zubov”, a carrier with 172,000 cubic metres of capacity. The Qatari cargo, the first UK shipment of the month of June, will be delivered on June 2 by the 260,900 cubic meters cubic metres capacity Q-Max carrier “Bu Samra” to the South Hook facility at Milford Haven, according to the port authorities.
The Russian and Qatari cargoes are scheduled as the UK National Balancing Point benchmark natural gas price rose to $9.35 per million British thermal units and the main Continental European price, the Dutch Title Transfer Facility (TTF), hit $9.50 per MMBtu on rising demand.
May 25 (LNGJ) - Infraestructura Energética Nova (IEnova), the Sempra Energy subsidiary in Mexico and owner of the Costa Azul LNG project, said Mexican Stock Exchange transactions had been completed on behalf of Sempra in the exchange offer launched on April 26, 2021. The transactions were to acquire all of the IEnova ordinary shares not owned directly or indirectly by Sempra in exchange for shares of Sempra common stock at an exchange ratio of 0.0323 shares of Sempra stock for each IEnova public share.
The share offer in Mexico is part of a corporate overhaul to group all LNG operations in an infrastructure company. Sempra Energy’s direct and indirect ownership interest in the IEnova stock increased from 70.2 percent to 96.4 percent of the total outstanding IEnova shares. “The remaining 3.6 percent of the outstanding IEnova shares continue to be held by public investors and are traded on the Mexican Stock Exchange,” said IEnova.
May 24 (LNGJ) - Qatar is delivering two LNG cargoes to the UK this week. The first vessel from Ras Laffan, the 213,500 cubic metres capacity Q-Flex carrier “Al Shamal”, will berth on May 27 at the South Hook import facility at the Welsh port of Milford Haven, according to the port authorities. The second Qatari cargo is scheduled to arrive at the same terminal on May 30 on board the 257,980 cubic metres capacity Q-Max vessel “Al Ghuwairiya”.
May 21 (LNGJ) - Gazoduq, the company planning to transport feed-gas on a 780-kilometres pipeline from Western Canada to the proposed GNL Québec project at Saguenay 200 miles north of Quebec City on a tributary leading to the St Lawrence River, has announced the return of Louis Bergeron as Gazoduq President.
“With over 40 years of experience in the energy sector in several countries and leading complex projects, Mr Bergeron joined Gazoduq in August 2018 as President to lead the carbon-neutral natural gas pipeline project from northeast Ontario and the Saguenay - Lac-Saint-Jean region,” said Gazoduq. “In November 2020, during the height of the pandemic, Louis Bergeron made the decision to transition to a strategic consulting role and has since been involved in special projects. Now, his role as Gazoduq’s President will be all the more critical as the pandemic restrictions are expected to be lessened and the project will likely be able to re-intensify its activities,” added the company.
May 20 (LNG) - French major Total will supply ArcelorMittal Nippon Steel (AMNS) steel and power plants in India with up to 500,000 tons of liquefied natural gas per annum until 2026. The LNG will be sourced from Total’s global portfolio and offloaded at either the Dahej or Hazira LNG import terminals on the West Coast of India. “We are pleased to partner with AMNS and to supply the growing industrial LNG demand in India, a country that aims to more than double the share of natural gas in its energy mix by 2030 compared to today,” said Thomas Maurisse, Senior Vice President of LNG at Total.
May 20 (LNGJ) - Shipping charter rates for LNG carriers in the spot market declined in the past week by around $12,000 per day in both the West of Suez market and East of Suez. Fixtures in the Atlantic and Pacific basins were quoted at between $69,000 per day and $65,000 per day for vessels of 155,000-165,000 cubic metres capacity. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.
May 19 (LNGJ) - UK energy major BP and Italy’s Eni have signed a non-binding memorandum of understanding to progress detailed discussions on combining their upstream portfolios in the southwest African nation of Angola, including all their oil, gas and LNG interests. “The companies believe that combining their efforts in a new joint venture company would bring significant opportunities for them to jointly boost future developments and operations in Angola,” they said.
Eni and BP have informed the Angolan Government of their intention. “Any final transaction will be subject to relevant governmental, regulatory and partner approvals,” they added. Angola LNG is operated by US major Chevron Corp. and the other shareholders are Angolan energy company Sonangol and France’s Total. The liquefaction plant at the mouth of the Congo River processes 1.1 billion cubic feet of natural gas per day and produces 5.2 million tonnes per annum of LNG from associated gas from crude oil production.
May 18 (LNGJ) – Algerian state energy company Sonatrach, operator and of the Arzew and Skikda LNG export plants on the Mediterranean Coast, has signed a new cooperation accord with Equinor of Norway to consider opportunities in the fields of oil and natural gas exploration and production, new technologies and operational performance relating to hydrocarbons.
“Sonatrach aims to extend its existing partnership with Equinor beyond the terms of the current contracts which expire in 2027,” stated Sonatrach Chief Executive Toufik Hakkar after the signing ceremony in Algiers with Equinor Vice President for International Developments, Alasdair Cook. Equinor is a partner with Sonatrach and BP in projects at In Salah and In Amenas, and in the Timissit operating area of the Illizi-Ghadames Basin near the border with Libya.
May 17 (LNGJ) - The LNG carrier “Vladimir Rusanov”, with 172,000 metres capacity, was berthing on May 17 with a cargo to discharge at the Isle of Grain LNG import terminal, operated by National Grid Plc on the Medway-Thames estuary 45 miles southeast of London. The shipment, lifted on May 10 from the Yamal plant in the Arctic region of northern Siberia, is arriving in the UK as the National Balancing Point (NBP) natural gas price rose on May 17 to a record 2021 level of $9.70 per million British thermal units.
May 14 (LNGJ) - Golar LNG Ltd named Karl Fredrik Staubo as the new Chief Executive. Staubo had since May 2020 been the CEO of Golar LNG Partners LP, recently sold to New Fortress Energy. Previous Golar LNG Ltd CEO Iain Ross resigned after nearly four years with the Norwegian-founded LNG shipping and projects company as it was completing the sell-off of assets to New York-based firm New Fortress.
“Staubo has a broad shipping-energy background from Clarksons Platou Securities and Magni Partners,” said a statement. Eduardo Maranhao was named as Golar LNG Ltd’s Chief Financial Officer. “Through the company’s strong strategic positions through the LNG value chain, including upstream, midstream, and downstream, Golar is well positioned to take an active part in the ongoing energy transition with the target to deliver cheaper and cleaner energy,” stated Golar Chairman Tor Olav Troim.
May 14 (LNGJ) - The 174,000 cubic metres capacity vessel “Dorado LNG” was scheduled to arrive on May 17 at the UK South Hook import terminal in Milford Haven with a cargo from the Cheniere Energy plant at Corpus Christi in Texas, according to port authorities.
May 13 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were unchanged in the past week, though still at high levels in the Atlantic and Pacific basins. Spot charters for West Of Suez were quoted at between $75,000 per day and $79,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates were at between $70,000 per day and $74,000 per day, according to various brokers. However, one-year charter rates for the most modern vessels have edged up £2,000 per day to around $77,000 per day.
May 12 (LNGJ) - Algeria, the leading natural gas supplier with two LNG plants on the Mediterranean coast and pipelines to Italy and Spain, is taking measure to improve and clarify the authorization process for constructing energy pipelines and infrastructure. They are now defined in two decrees signed by Algerian Prime Minister Abdelaziz Djerad. “The first draft executive decree defines the procedures for obtaining authorizations to construct a pipeline transportation system, while the second defines the procedures for obtaining authorizations to build structures for pipeline transportation of petroleum products,” said a statement.
May 11 (LNGJ) - The 154,880 cubic metres capacity carrier “BW Pavilion Vanda” was unloading a cargo at the UK Isle of Grain LNG terminal on the Medway-Thames estuary southeast of London on May 11 from the US Corpus Christi plant in Texas. The arrival coincided with a surge in UK natural gas prices to their highest level of 2021. Another vessel, the 171,800 cubic metres capacity “Ougarta”, was also scheduled to berth with a shipment from the Arzew plant in Algeria, according to the port authorities.
The UK terminal, operated by National Grid plc, has Europe’s largest storage capacity of one million cubic metres. The two vessels arrived to discharge cargoes as the UK National Balancing Point benchmark price rose to the 2021 high, which was the equivalent of $9.05 per million British thermal units.
May 10 (LNGJ) - Qatar is delivering a cargoes to the UK on May 14 on board the 261,100 cubic meters cubic metres capacity Q-Max carrier “Zarga”. The vessel from Ras Laffan will berth at the South Hook import facility in the Welsh port of Milford Haven, according to the port authorities. The latest shipment is due as the UK National Balancing Point natural gas benchmark price and the main Continental European price, the Dutch Title Transfer Facility (TTF), both remained near to seasonal highs at the equivalent of $8.60 per million British thermal units and $8.65 per MMBtu respectively.
May 7 (LNGJ) - Chiyoda Corp, the leading Japanese energy and LNG engineering company involved in projects worldwide, reported sales of 315.39 billion yen ($2.88Bln) in the fiscal year to the end of March 2021, a fall of 18.3 percent on the previous year. However, Chiyoda pointed out that it expected improvements in the coming year as it executed LNG engineering, procurement and construction projects in Qatar, the US and Nigeria.
“In Qatar, Chiyoda has won the order for the EPC phase of the North Field East LNG project, which is the expansion of four LNG Trains with capacity of 8 million metric tons per annum,” said the company. “In the US, the Golden Pass LNG project is in the EPC phase and in the Nigeria LNG project Chiyoda is providing review and other technical support to our partner, which is performing the engineering,” it added. “In Japan, EPC phase work is currently underway to reinforce, modify, and repair existing LNG terminals that were built by Chiyoda, and to newly install and add earthquake and tsunami reinforcement to gas supply facilities for thermal power plants,” stated the company.
May 6 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were still at high levels in the Atlantic and Pacific basins. Spot charters for West Of Suez increased again on the week by around $2,000 per day to average between $75,000 per day and $79,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates also rose by around $2,000 per day to between $70,000 per day and $74,000 per day, according to various brokers. One-year charter rates for the most modern vessels also increased to around $75,000 per day.
May 5 (LNGJ) - Trading in shares of Höegh LNG Holdings Ltd, the LNG fleet and projects company, has been suspended by the Oslo Børs in Norway to avoid incorrect registration of orders and trades in a situation where the company will no longer have any shares outstanding for trading. This follows the announcement that the family-controlled firm Leif Höegh and Co. and funds managed by Morgan Stanley Infrastructure Partners have completed the acquisition of Höegh LNG to take it private. However, the common and preferred units of US affiliate, Höegh LNG Partners LP, will remain outstanding and continue to trade on the New York Stock Exchange.
“With the completion of the amalgamation, the joint venture intends to undertake a comprehensive review of the company’s operational and financial strategy and that of its affiliates to strengthen the financial profile of the group and will carefully review its integrated business plan including future financial needs,” added the Leif Höegh and Co. statement.
May 4 (LNGJ) - The Klaipeda LNG import terminal in the Baltic state of Lithuania, operated by energy company AB Klaipedos Nafta, said it expected to receive its first cargo from Egypt to help replace some Norwegian shipments halted by the Hammerfest plant shutdown. The cargo was lifted from the Royal Dutch Shell-operated Idku export plant, located east of the port of Alexandria. It is scheduled to arrive on May 7 in Lithuania from the East Mediterranean on board the 164,700 cubic metres capacity LNG carrier, the “LNG Fukurokuju”.
May 4 (LNG) - Titan LNG, a Dutch supplier to the marine and industrial markets with quayside and ship-to-ship delivery of LNG to river barges and sea-going ships in the ports such as Amsterdam, Rotterdam and Antwerp, announced a development tender for a new LNG bunkering barge. It will be called “Titan Krios” and be deployed at the Belgian Port of Zeebrugge and in the English Channel ports.
“The new vessel, which will fulfil part of the base demand in Zeebrugge that Titan LNG is already supplying, will operate with multiple tanks to segregate streams of LNG and bio-LNG (made from waste),” explained Titan. The new Titan vessel will offer 4,200 cubic metres of capacity from 2023. The tender comes just one month after the naming and subsequent launch of the “FlexFueler002”, a co-built LNG bunkering barge from Titan and Belgian gas network company Fluxys.
May 3 (LNGJ) - Qatar is delivering a Q-Max LNG cargo to the UK with prices in Europe rising on colder weather and storage demands. The 261,137 cubic metres capacity carrier “Mekaines” is scheduled to arrive from Ras Laffan in Qatar on May 9 with a shipment for the South Hook facility in the Welsh port of Milford Haven, according to the port authorities.
The latest shipment is scheduled as the UK National Balancing Point natural gas benchmark price and the main Continental European price, the Dutch Title Transfer Facility (TTF), are both at seasonal highs. The UK NBP was quoted at the equivalent of $8.30 per million British thermal units and the Dutch TTF was at the equivalent of $8.20 per MMBtu.
April 30 (LNGJ) – Australian LNG exporter Santos has completed the sell-down of a 25 percent interest in the Bayu-Undan gas field and Darwin LNG to South Korea’s SK E&S, which is also a partner in the Barossa offshore gas project. “The sell-down resulted in net funds to Santos of US$186 million at completion, being the sale price of US$390m less the cashflows from the 25 percent interests ,” said Santos. “The sell-down to SK E&S is in line with our strategy of disciplined growth while maintaining a strong balance sheet by managing equity levels in our growth projects,” said Santos Chief Executive Kevin Gallagher.
April 29 (LNGJ) - French oil and gas company Total, which this week declared “force majeure” on the Mozambique LNG project over the security situation in the northern Cabo Delgado province, posted a 51 percent increase in first-quarter adjusted net operating income to $3.48 billion compared with $2.3Bln in the same three months of 2020. Total’s LNG sales rose 1 percent to 9.9 million tonnes versus 9.8MT in the prior-year quarter.
“Despite hydrocarbon production for LNG in the first quarter of 2021, down 6 percent year-on-year, mainly due to the shutdown of the Snøhvit LNG plant (Norway) following a fire at the end of September 2020, LNG sales were stable in the first quarter,” said Total. The company added that its average realised LNG price in the quarter was $6.08 per million British thermal units, higher than the previous quarter’s $4.90 per MMBtu, though about 4 percent lower than the year-on-year price of $6.32 per MMBtu.
April 29 (LNG) - Malaysian energy company Petronas has signed a time charter-party (TCP) for three newbuild LNG carriers with shipowner Hyundai LNG Shipping to increase its global fleet to to 27 vessels. Petronas said the newbuilds with 174,000 cubic metres of capacity are expected to be delivered from the second quarter of 2024 on a staggered basis. They will primarily be used to carry cargoes from LNG Canada currently under construction at Kitimat on the Pacific Coast of British Columbia.
“The multi-sized fleet has enabled the company to reliably deliver LNG to over 25 countries from its global portfolio of supply, located in Malaysia, Australia, Egypt and Canada by 2024,” said the Petronas LNG subsidiary.
April 28 (LNGJ) - Qatar is delivering the first two LNG cargoes to the UK in May. The 261,700 cubic metres capacity carrier “Lijmiliya” is scheduled to arrive in the UK from Ras Laffan on May 1 with a shipment for the South Hook facility in the Welsh port of Milford Haven, according to the port authorities. Another Qatari carrier, the 266,000 cubic metres capacity vessel, the “Al Dafna”, is due to berth at South Hook on May 5.
The latest shipments are scheduled as the UK National Balancing Point natural gas benchmark price and the main Continental European price, the Dutch Title Transfer Facility (TTF), are both at seasonal highs. Both prices were quoted at the equivalent of $7.60 per million British thermal units.
April 27 (LNGJ) - UK major BP reported profits for the first quarter of $4.7 billion compared with a $4.36Bln loss in the same three months of 2020. The BP performance was also better than the $1.4Bln profit achieved in the fourth quarter of 2020. “Divestment and other proceeds were $4.8Bln in the quarter, including $2.4Bln from the divestment of a 20 percent stake in Oman Block 61 and $1Bln final instalment for the sale of the petrochemicals business,” said BP.
“We expect global gas demand to recover to above 2019 levels, and LNG demand to increase as a result of higher Asian imports,” said the company in its outlook for the rest of 2021. “Oil demand is expected to recover due to strong growth in US and China and as the distribution of vaccinations gains momentum and lockdown restrictions are gradually lifted,” it added.
April 27 (LNGJ) - TechnipFMC, the US energy technology and subsea company, has arranged the sale of 25 million shares in the spun-off LNG project arm, Technip Energies. The placement of the stocks represented 14 percent of the share capital of Technip Energies. TechnipFMC said it still retained a stake of around 31 percent of Technip Energies. TechnipFMC also announced it received a Notice to Proceed for a subsea production system contract from Australian LNG operator Santos for the Barossa gas field project to boost feed-gas resources for Darwin LNG in Australia’s Northern Territory.
The field is located 300 kilometres north of Darwin at a water depth of around 130 metres. “The contract scope covers the supply of subsea trees and associated control systems, manifolds and wellheads, as well as installation and commissioning support, which will help to extend the life of the existing Darwin LNG facility,” said Jonathan Landes, President of Subsea at TechnipFMC.
April 26 (LNGJ) - Croatia, the Balkan nation and European Union member, has received another cargo of LNG at the floating terminal offshore the island of Krk in the northern Adriatic Sea. This was the first commercial LNG delivery for the company MET Croatia. Croatian gas supplier MET Croatia, part of Swiss-based energy company MET Group, has booked an overall capacity of 2.67 billion cubic metres at the Croatian terminal for a period of seven years.
The cargo was loaded at the Zeebrugge terminal in Belgium and was delivered by the 145,000 cubic metres capacity carrier “Methane Nile Eagle”. MET also supplied the Spanish commissioning cargo in November 2020 to the Croatian terminal, which is the floating storage and regasification unit “LNG Croatia”.
April 26 (LNGJ) - The 171,866 cubic metres capacity carrier “Ougarta” is scheduled to deliver an Algerian cargo on April 27 to the Isle of Grain LNG import terminal, operated by National Grid Plc on the estuary 45 miles southeast of London. The shipment, lifted on April 22 from the Arzew plant on the Mediterranean coast of Algeria, is arriving in the UK as the National Balancing Point (NBP) gas price fell to the equivalent of $7.05 per million British thermal units.
April 23 (LNGJ) - Shipping charter rates for LNG carriers in the spot market increased for West Of Suez by around $7,000 per day to average between $62,000 per day and $58,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates rose by around $9,000 per day to between $52,000 per day and $48,000 per day, according to various brokers. One-year charter rates for the most modern vessels also increased to around $66,000 per day.