Latest News
TechnipFMC, the energy and liquefied natural gas project engineering company, reported its first quarterly earnings since the company was created from the merger of France’s Technip and FMC…
French energy major Total has sanctioned the development of the first phase of the Aguada Pichana Este project in the giant Vaca Muerta shale-gas play in Argentina that…
Royal Vopak, the Dutch-based global petroleum and products storage company, has decided not to proceed with the proposed acquisition of the floating storage and regasification and LNG import…
The Australian government is planning to temporarily block liquefied natural gas exports if necessary to ensure adequate domestic gas supplies in Queensland and other eastern states and…
Uniper, the Germany utility and liquefied natural gas trader, said its fuel subsidiary Liqvis opened the first publicly accessible LNG station for vehicles in Berlin.
Qatar now has a solid stake in the US LNG export industry after the US Department of Energy gave the Golden Pass joint venture in Texas a…
IGas Energy, one of the leaders of the onshore shale-gas industry in England, said it was ready to move forward with a $230 million work programme at…
NextDecade, developer of the Rio Grande LNG export plant in the Texas port of Brownsville  and an associated pipeline, has signed an agreement with the energy subsidiary…
Spanish liquefied natural gas terminal operator and transmission company Enagas reported a 1.6 percent increase in net profit to 102.8 million euros ($110M) as domestic demand grew.…
Indian natural gas company H-Energy said it would begin importing LNG shipments from the third quarter of 2018 using a floating storage and regasification unit (FSRU) chartered…
Five European energy companies, including prominent LNG industry participants, have signed an agreement to provide 50 percent of the financing for the Russian-led $10 billion Nord Stream 2…

Fredriksen LNG deal

April 27 (LNG) - Flex LNG said it was considering entering a transaction for the acquisition of two M-type, electronically-controlled, gas-injection (MEGI) LNG carriers currently under construction at Daewoo Shipbuilding and Marine Engineering in South Korea and scheduled for delivery in the second and third quarters of 2019. The Flex ships would be purchased from affiliates of its biggest shareholder Geveran Trading, indirectly controlled by trusts established by the Norwegian shipping tycoon John Fredriksen. Flex has already partially financed the deal for the two ships through a private placement of shares to raise around $125 million at 12 Norwegian crowns ($1.40) per share. The Nordic investment banks and broking companies Arctic Securities, DNB Markets, Fearnley Securities AS and Pareto Securities acted as joint lead managers in the placement.

UK LNG pricing plan

April 27 (LNGJ) - Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the London-based Exchange’s vision of the near future during a speech at a shipping conference in Singapore. One of its plans was to enter the LNG and container indices markets. “The recent acquisition of the Baltic Exchange by the Singapore Exchange has reinvigorated this key international maritime institution, allowing us to grow our leadership profile and play a bigger role than ever before in setting standards, building consensus and leading change in the shipping markets,” said Jackson. “These are bold plans and will ensure that the Baltic Exchange remains at the heart of the bulk shipping industry for the long-term. In 2017 we will be providing more freight market benchmarks and move into the LNG and container spaces,” added the CEO.

LNG cargoes for China

April 26 (LNGJ) – The 216,200 cubic metres capacity Q-Flex carrier “Tembek” is scheduled to unload a shipment from Qatar on May 1 at the Shenzhen Diefu import terminal in Guangdong province, operated by China National Offshore Oil Corp., according to shipping data. The 153,500 cubic metres capacity vessel “Gaselys” is due to deliver a re-exported cargo from France on May 9 to the Shanghai import facility in China. The 147,000 cubic metres capacity “Dapeng Moon” is lifting a cargo on April 26 to ship to an import facility in Guangdong province from the Woodside Energy export terminal at Dampier in Western Australia. The Hong Kong-flagged sister ship “Dapeng Sun” is due at Dampier on April 29 to lift a second cargo for Guangdong.

LNG ship movements

April 26 (LNGJ) – The 136,000 cubic metres capacity ship “Raahi” is due to unload a cargo from Qatargas on April 27 at the Indian Dahej terminal near Mumbai, operated by Petronet, according to shipping data. The 145,700 cubic metres capacity “LNG Benue” will deliver a cargo on April 28 to the Montoir-de-Bretagne import terminal in Western France from the Bonny Island export plant in Nigeria. The 138,100 cubic metres capacity vessel “Gemmata”, operated by Shell Shipping, is scheduled to lift a cargo on April 28 from the Cheniere Energy export plant at Sabine Pass in the US state of Louisiana. The 148,300 cubic metres capacity “LNG Ondo” will unload a Nigerian cargo on May 1 at the Sagunto import terminal in eastern Spain. The 148,470 cubic metres capacity vessel “LNG Kano” is due to deliver a shipment on May 7 to the Kuwaiti import facility at Mina Al-Ahmadi from the Nigeria LNG plant.

Nakilat earnings fall

April 25 (LNGJ) - Qatar Gas Transport Co., the national LNG carrier operator also known as Nakilat, posted a first-quarter drop in net profits to 191 million Qatari riyals ($52.5M) compared with 240M riyals in the same quarter of 2016. The shipping line cited a one-off item related to lowering the estimated scrap value of vessels and reduced operations from joint ventures for the fall in earnings. Nakilat is also in the midst of a transition of its LNG fleet operations involving more than 20 vessels previously operated by Shell. Nakilat Managing Director Abdullah Fadhalah Al Sulaiti referred to the transition, saying: “Despite the current economic downturn and market volatility, Nakilat has been continuously improving its operational activities. This is demonstrated by the successful transition of two vessels in the first quarter, bringing the total operated by Nakilat to 14 vessels.

LNG carrier movements

April 24 (LNGJ) - The 138,100 cubic metres capacity ship “Berge Arzew” will deliver a cargo on April 27 from Sonatrach of Algeria to the Turkish Aliaga import terminal near the port of Izmir, according to shipping data. The 217,000 cubic metres capacity Q-Flex carrier “Al Huwaila” will deliver a Qatari cargo on April 28 to the Chinese Dalian import terminal, operated by PetroChina in the northeast Liaoning province bordering North Korea. The 217,000 cubic metres capacity vessel “Al Kharsaah” will unload a shipment from Qatargas on April 29 at the Indian Dahej terminal, operated by Petronet. The 147,200 cubic metres capacity carrier “Arctic Princess” will unload a shipment on May 1 at the Lithuanian import facility at the Baltic port of Klaipeda from the Hammerfest export plant in northern Norway, operated by Statoil. The 145,000 cubic metres capacity vessel “Al Deebel” will unload a cargo from Qatar on May 11 at the Tai-Chung import terminal in Taiwan.

Spanish firm on track

April 21 (LNGJ) - Gas Natural Fenosa of Spain, one of Europe’s main LNG players with a supply agreement at Sabine Pass in the US, has held its annual shareholder meeting in Barcelona. Chief Executive Rafael Villaseca highlighted the company’s business performance, which was above the average for comparable companies in Europe. Villaseca said that GNF last year obtained 75 percent of its gross earnings from the regulated activities of gas and electricity distribution and the remaining 25 percent from liberalized power generation and natural gas marketing activities. “Gas Natural Fenosa is in an excellent position to capture international growth thanks to its diversified presence, which offers greater exposure to opportunities in the gas wholesale business and new emerging markets,” said the CEO.

Vitol-Gazprom LNG deal

April 20 (LNGJ) - Swiss-based global commodities company Vitol has signed a multi-year LNG purchase agreement for the Russian player Gazprom Marketing and Trading (Singapore) to supply around 300,000 tonnes of LNG per annum from 2018. The supply will come from Gazprom’s diversified LNG portfolio.  “We are delighted to be working with Gazprom Marketing and Trading, a subsidiary of Gazprom, the world’s largest producer of natural gas,” said Pablo Galante Escobar, Head of LNG at Vitol. “Vitol is an established participant in LNG markets globally and this development will strengthen our offering to customers worldwide,” he added. Vitol, whose headquarters are in Geneva, has been active in the LNG sector since 2005 and last year supplied 3 million tonnes of LNG to customers.

Q-Max LNG for UK April 26

April 20 (LNGJ) - The 261,700 cubic metres capacity Q-Max vessel “Al Samriya” is scheduled to unload a cargo on April 26 at the UK South Hook import terminal in Milford Haven in Wales, the port authority said. The delivery was fixed as the UK National Balancing Point benchmark natural gas price was last at the equivalent of $5.00 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $4.75 per MMBtu.

France-Argentina LNG

April 19 (LNGJ) - The 147,200 cubic metres capacity “Arctic Lady” will deliver a shipment on April 25 to the French Fos import terminal near Marseilles from the Hammerfest liquefaction plant in northern Norway operated by Statoil, according to shipping data. The 145,700 cubic metres capacity “LNG Benue” will unload a Nigerian cargo on April 27 at the Montoir-de-Bretagne import terminal on the Loire estuary of Western France. The 145,000 “Celestine River” will deliver a Qatargas cargo on April 28 to the Argentine Bahia Blanca floating import facility, the FSRU “Exemplar”, located about 500 miles south of the capital Buenos Aires.

ABS Houston start

April 18 (LNGJ) - The American Bureau of Shipping, one of the leaders of the development of the LNG industry in the US, has broken ground on its new global headquarters in Houston, Texas, comprising a 10-storey building and 326,800 square feet of office space. Completion of the ABS HQ, located near the intersection of I-45 and the Grand Parkway in Houston, is scheduled for the end of 2018. “This is an important milestone in our 155-year-young history and reaffirms our commitment to Houston,” said ABS Chairman, President and Chief Executive Christopher J. Wiernicki. “Working with our project partners, we have designed this building to create a collaborative environment that will facilitate communication and promote innovation in direct support of our safety-focused mission,” added Wiernicki.

LNG ship movements

April 13 (LNGJ) - The 147,200 cubic metres capacity vessel “Arctic Princess” is scheduled to unload a cargo on April 13 at the Lithuania import facility at the Baltic port of Klaipeda from the Atlantic LNG plant at Point Fortin in Trinidad, according to shipping data. The 75,000 cubic metres capacity “Cheikh Bouamama” will deliver a shipment on April 14 to the Huelva import terminal in southwest Spain from the Skikda plant in Algeria, operated by Sonatrach. The 216,200 cubic metres capacity Q-Flex vessel “Al Sahla” is scheduled to unload a shipment from Qatar on April 15 at the Indian import terminal at Dahej, located near  Mumbai and owned by Petronet. The 172,000 cubic metres capacity “Beidou Star” will deliver a shipment on April 21 to the Chinese Dalian import terminal, owned by PetroChina, from the Chevron-operated Gorgon plant on Barrow Island in Western Australia. The 174,100 cubic metres capacity vessel “Cesi Gladstone” will unload a shipment on April 23 at the Chinese Qingdao import terminal, owned by Sinopec, from the Australia Pacific plant in Queensland.

Plans for LNG dredger

April 12 (LNGJ) - Finnish maritime propulsion and LNG systems maker Wartsila said it was contracted to supply a package of engines and machinery for a new Cutter Suction Dredger (CSD) vessel. When delivered, the “Spartacus”', which is being built on behalf of Belgium based Dredging International, will be the world's most powerful CSD and the first ever to be fuelled by liquefied natural gas. It is being built at the Royal IHC yard in the Netherlands. Wartsila said its order was worth 20 million euros ($21.2M) to the company. “Wartsila has worked in close cooperation with the owners starting from the early stages of this large project,” said Arthur Boogaard, General Manager for Special Vessels at the Finnish firm. “This has enabled a well engineered and fully integrated propulsion arrangement and an LNG fuel system that is optimized for the needs of the vessel,” he added.

Q-Max LNG for UK April 18

April 11 (LNGJ) - The 266,000 cubic metres capacity Q-Max vessel “Shagra” is scheduled to unload a cargo on April 18 at the UK South Hook import terminal in Milford Haven in Wales, the port authority said. The delivery was fixed as the UK National Balancing Point benchmark natural gas price was last at the equivalent of $4.75 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $4.55 per MMBtu.

KBR wins $500M battle

April 11 (LNGJ) – US LNG and energy engineer KBR said it had settled a decade-long dispute over an almost $500 million judgment pertaining to a contract carried out for Petroleos Mexicanos (Pemex), Mexico's national oil and gas company. The dispute had involved two offshore natural gas treatment, processing and reinjection platforms which a KBR subsidiary built for Pemex. The platforms have been in use in the Gulf of Mexico since 2004 but KBR was never fully paid despite court decisions in its favour. “We are pleased by the positive resolution to this matter and glad to put this long-running issue behind us,” said Stuart Bradie , President and Chief Executive. “KBR has had an ongoing business relationship with Pemex over many years and this settlement paves the way to broaden our productive association,” added Bradie.

Cargoes for Spain-Holland

April 11 (LNGJ) – The 140,000 cubic metres capacity carrier “Arctic Voyager” is scheduled to deliver a cargo on April 14 to the Dutch Gate LNG import terminal in Rotterdam from the Hammerfest plant in Norway, operated by Statoil. The 215,000 cubic metres capacity vessel “Al Utouriya” is scheduled to unload a shipment on April 22 at the Mugardos import terminal at the port of El Ferrol in northwest Spain.

TMC wins FSRU order

April 10 (LNGJ) - TMC Compressors of Norway was awarded a contract by South Korean shipyard Daewoo Shipbuilding and Marine Engineering to supply a compressed air system to a newbuild floating storage and regasification unit (FRSU). TMC’s scope of work includes engineering, manufacturing and supply of a complete compressed air system for the 134,400 cubic metres capacity FRSU, ordered by Singapore-based shipping company BW LNG and due for delivery in 2019. “Any FRSU is a vital component in the LNG value chain,” said Per Kjellin, Managing Director of TMC. “That is why DMSE and BW LNG have opted for compressors that are built especially for marine application, as continuous uptime is crucial for both the on board compressor system and the vessel as a whole,” added Kjellin.

LNG for Poles and Thais

April 10 (LNGJ) - The 216,000 cubic metres capacity carrier “Al Hamla” will unload a Qatari shipment on April 18 at the Polish import terminal at the Baltic port of Swinoujscie, according to shipping data. The 216,200 cubic metres capacity Q-Flex vessel “Al Gattara” will deliver a cargo on April 19 to the Map Ta Phut import terminal in Thailand from the Qatar export plant at Ras Laffan.

UK cargo on April 14

April 7 (LNGJ) - The 210,100 cubic metres capacity Q-Flex vessel “Al Sheehaniya” is scheduled to unload a cargo on April 14 at the UK South Hook import terminal in Milford Haven in Wales, the port authority said. The delivery was fixed as the UK National Balancing Point benchmark natural gas price was last at the equivalent of $5.05 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $4.73 per MMBtu.

Gas find for Libya

April 6 (LNGJ) - Italian energy company Eni has made a new discovery of natural gas and condensates in its Gamma prospect in Libyan waters of the Mediterranean about 140 kilometres offshore from the capital Tripoli. Libya is a former LNG producer whose liquefaction plant at Marsa El Brega has been badly damaged during the civil war and has not operated since 2011. The Eni offshore well was drilled in 150 metres of water depth and encountered gas and condensates. “The well has the capacity to deliver in excess of 7,000 barrels of oil equivalent per day and represents a further discovery made by Eni in Libyan offshore Area D, following discoveries made in 2015,” the Italian company said.

Clough service evolution

April 6 (LNGJ) - Australian LNG and energy engineering company Clough said it was collaborating with Charles Darwin University, based in the city of Darwin in the Northern Territory, on a research and study programme to improve maintenance engineering procedures and asset management. Clough Chief Executive and Managing Director Peter Bennett said: “This collaboration will bring us new opportunities to develop specialist maintenance expertise such as advanced Clough Automated Maintenance System (CAMS) modules to further automate maintenance planning that interfaces with predictive analytics.” Deputy University Vice-Chancellor, Professor Lawrence Cram, said: “There are mutual benefits to be derived from a working relationship where CDU staff not only provide professional and research support to Clough, but also gain valuable practical experience while working with Clough.”

Q-Flex for UK April 11

April 5 (LNGJ) - The 210,100 cubic metres capacity Q-Flex vessel “Mesaimeer” is scheduled to unload a cargo on April 11 at the UK South Hook import terminal in Milford Haven in Wales, the port authority said. The delivery was fixed as the UK National Balancing Point benchmark natural gas price was last at the equivalent of $5.05 per million British thermal units, while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $4.70 per MMBtu.

US LNG landmark

April 4 (LNGJ) - Cheniere Energy said it had now shipped 100 LNG cargoes in just over a year from the first liquefaction and export plant on the US Gulf Coast at Sabine Pass in Louisiana. Since the first shipment departed from the terminal on February 24, 2016, Chief Executive Jack Fusco said his company had delivered LNG to 18 countries on five continents. “This milestone for Cheniere is a testament to the global demand for American LNG, the hard work and dedication of Cheniere's workforce, and our unique business model that enables customers large and small to access this fuel,” said the Cheniere CEO.

Bunker ship delivery

April 3 (LNGJ) - Nordic LNG supplier Skangas said its new bunker vessel “Coralius” would be delivered in June and the main operations area would be from the Kiel Canal to Norway, including parts of the North Sea. The ship’s owners, Dutch company Anthony Veder and Sweden’s Sirius Shipping, developed the vessel in co-operation with Skangas, the charterer. The “Coralius” is being built by the Royal Bodewes shipyard in the Netherlands and will have a cargo capacity of 5,800 cubic metres. “Currently we bunker by truck and directly from our terminals, along the coast,” said Tor Morten Osmundsen, Chief Executive of Skangas. “From June this year, however, our customers can experience swifter and more flexible bunkering operations than ever,” added Osmundsen.

India gas price fixed

April 3 (LNGJ) - The Indian Ministry of Petroleum and Natural Gas has fixed its latest ceiling price for domestic natural gas output from April to September 2017. It said that for gas produced from discoveries in deep water, ultra-deep water and high-pressure areas, the price is US$5.56 per million British thermal units on a gross calorific value (GCV) basis. Indian domestic production only meets about half of current demand and India imports LNG cargoes to help meet energy needs. The nation received just short of 19 million tonnes of LNG in 2016.

New Tepco President

April 3 (LNGJ) - Tokyo Electric Power Co., the main user of LNG for gas-fired plants in Japan, has named Tomoaki Kobayakawa, aged 53, and currently head of the group’s electricity retail arm, as its new President. Kobayakawa replaces Naomi Hirose, aged 64, who will continue to serve in a more limited role as Vice Chairman. Tepco also named Takashi Kawamura from Hitachi Ltd. as Chairman of Tepco to work with new President Kobayakawa. The company said it will seek shareholder approval in June for the senior management overhaul.

LNG ship movements

April 3 (LNGJ) - The 75,000 cubic metres capacity carrier “Cheikh Bouamama” is unloading a shipment on April 3 at the French terminal at Fos Sur Mer near Marseille, delivered from the Skikda plant in Algeria, according to shipping data. The 174,100 cubic metres capacity vessel “Cesi Qingdao” is scheduled to unload a shipment on April 5 at the Chinese Qingdao import terminal in the eastern province of Shandong, operated by Sinopec, from the Australia Pacific LNG plant near Gladstone in Queensland. The 174,000 cubic metres capacity “Gaslog Greece” is scheduled to unload a cargo on April 12 at the Map Ta Phut terminal in Thailand from the Australian Queensland Curtis LNG plant. The 141,000 cubic metres capacity “LNG River Niger” is due to unload a cargo from Nigeria on April 13 at the Indian Hazira import terminal, located north of Mumbai and operated by Shell India.

Q-Flex cargo for UK

March 31 (LNGJ) - The 210,100 cubic metres capacity Q-Flex vessel “Al Ghariya” is scheduled to unload a cargo on April 8 at the UK South Hook import terminal in Milford Haven in Wales, the second April shipment to the facility. The deliveries of LNG to Europe’s largest natural gas market come at a time when prices are under $5 per million British thermal units. The UK National Balancing Point price was last at the equivalent of $4.95 per MMBtu while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $4.65 per MMBtu.

LNG ship movements

March 30 (LNG) - The 145,000 cubic metres capacity carrier “Al Deebel” is scheduled to unload a cargo from Qatar on March 31 at the Belgian Zeebrugge import terminal, according to shipping data. The 217,000 cubic metres capacity vessel “Al Kharsaah” will deliver a Qatari shipment on April 3 to the Indian Dahej import terminal, owned by Petronet. The 138,000 cubic metres capacity carrier “British Merchant”, operated by BP Shipping, will deliver a cargo on April 17 to Singapore from the Atlantic LNG export plant at the port of Point Fortin in Trinidad.

US revision praised

March 29 (LNGJ) – Two energy industry groups in Washington DC, the US Natural Gas Supply Association (NGSA) and the US Center for Liquefied Natural Gas (CLNG), released statements on the rescinding by a White House order of speculative estimates on environmental issues limiting energy projects. Dena E. Wiggins, President and Chief Executive of the NGSA, said: “The existing National Environmental Policy Act project review process is already stringent, extensive and thorough.  By attempting to include unquantifiable and speculative upstream impacts in an expanded guidance, the Council on Environmental Quality risked hindering development of the very infrastructure that has enabled natural gas to reduce emissions.”

Firm hires LNG stars

March 28 (LNGJ) - Global law firm Orrick said leading energy regulatory practitioners Lisa Tonery and Erik Swenson have joined the firm as partners. They join Orrick from Norton Rose Fulbright, where Tonery led the US LNG Regulatory practice and co-chaired the LNG International Business Group. Tonery joins the New York office and Swenson will be based in Washington DC. “Lisa and Erik have one of the premier natural gas and LNG regulatory practices in the US and we are thrilled about the opportunities for collaboration with our growing project development and finance team in this fast evolving market,” said Blake H. Winburne, who co-heads Orrick’s Energy and Infrastructure Business Unit with Mark Weitzel. “We’re inspired by Orrick’s vision, the quality of the team, the global platform and what the firm has built in Houston,” said Tonery.

ABB deal on FSRU

March 28 (LNGJ) - Swiss-based ABB said it would supply the power and electric propulsion system to a new Floating Storage and Regasification Unit for BW Group, which will also be remotely connected to ABB operations centres. The equipment onboard will provide data to the shore-side centres allowing ABB and the vessel owner to take a proactive approach to maintenance throughout the lifetime of the vessel. “The modern power system must be both efficient and connected,” said Juha Koskela, Managing Director of the ABB marine and ports business. ABB said its hardware will optimize fuel efficiency onboard while monitoring the vessel for an informed approach to maintenance. The 174,000 cubic meter capacity FSRU has been ordered from Daewoo Shipbuilding and Marine Engineering. The membrane-type vessel is expected to be delivered from the Korean shipyard in 2019.

TechnipFMC contract

March 27 (LNGJ) - TechnipFMC, the global energy and LNG project engineer, was awarded a contract by Shell Offshore for the delivery, integration and installation of the subsea production system and subsea riser, jumper and flowline equipment for phase one of the Kaikias deepwater project in the Gulf of Mexico. “TechnipFMC has a proven track record of competitively designing subsea production systems and technologies that directly contribute to improved project economics,” said Hallvard Hasselknipe, President of Subsea Projects at TechnipFMC. Kaikias is located in the prolific Mars-Ursa basin about 210 kilometres from the Louisiana coast. The first phase of development includes three wells designed to produce natural gas and oil at peak rates of up to 40,000 barrels of oil equivalent per day.

First April cargo for UK

Mar 27 (LNGJ) - The 266,000 cubic metres capacity Q-Max carrier “Rasheeda” will deliver the first April cargo to the UK. The vessel will unload the shipment from Qatargas on April 2 at the South Hook import terminal at Milford Haven in Wales, according to port authorities. The delivery comes at a time when benchmark UK National Balancing Point natural gas prices have dropped to their lowest of the year, the equivalent of $4.85 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $4.45 per MMBtu.

Shell $870M Gabon sale

March 24 (LNGJ) - Royal Dutch Shell sold its oil and gas fields and infrastructure in the West African state of Gabon to the US Carlyle Group for $870 million in cash and assumed debt as it continued its divestment programme as part of stream-lining after acquiring LNG portfolio player BG. The purchaser will also make additional payments up to a maximum of $150M depending on production performance and commodity prices. The transaction consists of all of Shell’s oil and gas operations and five operated fields as well as the associated infrastructure of the onshore pipeline system. Andy Brown, Shell’s Upstream Director, said: “Shell is very proud of the strong legacy we have built in Gabon over the past 55 years. The decision to divest was not taken lightly, but it is consistent with Shell’s strategy to concentrate on our upstream footprint where we can be most competitive. Shell will continue to pursue opportunities in Sub-Saharan Africa.”

Vitol trading solid

March 24 (LNGJ) - Vitol, the global commodities company and energy trader with LNG interests, returned solid earnings despite challenging market conditions. “Volumes continued to grow, both in crude and products and we now trade in excess of 7 million barrels per day,” said Ian Taylor, Chairman and Chief Executive. “Despite the increase in volumes, a lower average oil price over the course of 2016 caused turnover to fall to $152 billion. We maintain our long-held strategy of conservatively managing capital and risks and will continue to build the business on these grounds, whilst remaining mindful of both counterparty and credit risks,” added Taylor.

CNOOC profit plunge

March 24 (LNGJ) - China National Offshore Oil Corp., the state-owned energy company and LNG importer, posted its worst annual earnings since at least 2011, with revenue from its oil and gas business falling 17 percent in 2016 to 121.3 billion yuan ($17.6Bln). Annual net profit was put at 637 million yuan ($92.4M), down more than 95 percent from the profit recorded in 2015 because of low oil prices. “In 2016, the company maintained a strong cost competitiveness despite low oil prices and sluggish global economic growth,” said Yang Hua, Chairman and Chief Executive. “The company unrelentingly pursued a management concept centred on cost control and improved efficiency and will continue to adhere to a value-driven approach,” added Yang.

Ivory Coast licences

March 23 (LNGJ) - Italian energy company Eni said it obtained majority stakes in two new exploration blocks offshore the Ivory Coast in West Africa. Eni has the highest success rate in exploration by energy majors for countries on the continent in the last several years, making big natural gas discoveries for LNG in Mozambique and pipeline gas in Egypt. The two blocks are located about 50 kilometres offshore the Ivory Coast. The two deep offshore blocks, denominated CI-101 and CI-205, are in the eastern part of the prolific Tano basin, where Eni already operates and cover a total area of about 2,850 square kilometres. Block CI-101 is at depths of between 200 metres and 2,500 metres and located in waters south of the capital Abidjan.

US LNG futures in May

March 23 (LNGJ) - The Intercontinental Exchange (ICE) will launch the first US LNG futures contract in May 2017. In an exchange note to customers, ICE said it planned to list the new contract on May 4, subject to completion of necessary regulatory processes. The LNG contract will be settled against the assessments made by US pricing firm Platts. Among the advantages, LNG futures contracts will enable market participants to hedge their positions

GTT storage tanks order

March 22 (LNGJ) - GTT, the French maritime LNG storage technology company, said it received an order from Hyundai Heavy Industries to equip a new LNG carrier with its Mark III Flex containment system. The Hyundai's shipyard based in Ulsan, South Korea, will build the vessel of 180,000 cubic metres capacity on behalf of Norwegian shipping company Norspan LNG (Knutsen). Delivery is scheduled in 2019. “Knutsen is a long-standing owner of LNG carriers equipped with membrane technology. With 10 vessels of this type, Knutsen is renewing its confidence in GTT technology by choosing Mark III Flex for this new vessel,” GTT said.

LNG deliveries to Asia

March 22 (LNGJ) - The 210,100 cubic meters capacity Q-Flex vessel “Duhail” is scheduled to unload a Qatari cargo on March 23 at the Pakistani Port Qasim import facility, located east of Karachi, according to shipping data. The 135,000 cubic metres capacity “Hyundai Oceanpia” will unload a shipment from Oman on March 26 at the South Korean Pyeongtaek import facility, operated by Korea Gas Corp. The 148,300 cubic metres capacity carrier “LNG Imo” will deliver a cargo on March 31 to the Indian Dahej terminal, operated by Petronet, from the Bonny Island plant in Nigeria.

LNG for UK March 27

March 22 (LNGJ) - The 266,000 cubic metres capacity Q-Max vessel “Al Mafyar” is scheduled to deliver a cargo on March 27 to the UK South Hook terminal at Milford Haven in Wales from Ras Laffan in Qatar, port authorities said. The deliveries of LNG to Europe’s largest natural gas market come at a time when prices have fallen to their lowest levels of 2017. The UK National Balancing Point price was last at the equivalent of $5.05 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $5.10 per MMBtu.

Marathon Permian deal

March 22 (LNGJ) - Marathon Oil Corp., whose energy interests include the Equatorial Guinea LNG production plant in West Africa as well as widespread US interests, has signed a definitive agreement to acquire 21,000 net acres largely in the Permian's Northern Delaware basin of New Mexico from Black Mountain Oil & Gas and other private sellers for $700 million in cash. “The 21,000 acre bolt-on in the Northern Delaware is an excellent fit with the basin entry acquisition we announced earlier this month,” said Marathon President and Chief Executive Lee Tillman. “The combined deals provide us more than 90,000 acres in the Permian, over 70,000 of which is concentrated in the Northern Delaware,” added Tillman.

LNG for Spain and France

March 21 – Three LNG cargoes are being delivered from the Bonny Island export plant in Nigeria to European terminals, according to shipping data. The 177,000 cubic metres capacity “LNG Lagos II” is currently unloading a shipment at the Mugardos terminal at El Ferrol in northwest Spain. The 137,230 cubic metres capacity vessel “LNG Rivers” will unload a Nigerian cargo on March 23 at the Huelva terminal in southwest Spain. The third cargo is being shipped to France. The 148,471 cubic metres capacity vessel “LNG Kano” is scheduled to unload its shipment on March 26 at the Montoir-de-Bretagne terminal on the French Atlantic Coast.

TechnipFMC contract

March 21 (LNGJ) - TechnipFMC, the energy and LNG project engineering company, was awarded a contract by a venture comprising Eni of Italy, Ghana National Petroleum Coro. and commodities company Vitol for the onshore part of the development of the Sankofa natural gas field. Under this contract, TechnipFMC will perform the project management, engineering, supply, construction and commissioning for the Onshore Receiving Facilities to be located in Sanzule as part of a gas-to-power venture. The contract will be mainly executed by a team of TechnipFMC staff in Ghana. The project is scheduled for completion by mid-2018. “We are proud to have been awarded this new contract, which rewards TechnipFMC’s long-term commitment in Africa and plays a strategic role in the gas-to-power program in Ghana,” said Nello Uccelletti, President of TechnipFMC’s Onshore-Offshore business.

California gas assets

March 20 (LNGJ) - Sacgasco, the Australia-listed natural gas exploration and production company, said it had significantly strengthened its position in the US Sacramento Basin through the acquisition of five new operated gas wells from various private Californian firms. The assets also include all associated leases, production facilities, meter stations and pipelines at two gas fields. The assets are in the Rancho-Capay field, adjacent to existing Sacgaso production, and the East Rice Creek field. “Current gross production from just two wells in the latest acquisition amount to 120 mcf per day. In total Sacgasco now has a portfolio of 25 wells in the Sacramento Basin with 10 in production and a further 15 that have the potential to be brought back into production,” the company said.

GasLog raises funds

March 20 (LNGJ) - GasLog, the Monaco-based LNG fleet owner and operator with Royal Dutch Shell as a major charterer of its vessels, is selling $250 million of senior notes, a form of bonds, in a public offering. “The notes will mature in 2022 and will bear interest at a rate of 8.875 percent per annum, payable quarterly in arrears on March 30, June 30, September 30 and December 30 of each year, beginning on June 30, 2017,” said GasLog.

Belgium and China LNG

March 17 (LNGJ) - The 145,000 cubic metres capacity vessel “Milaha Qatar” is scheduled to deliver a cargo on March 20 to the Belgian import terminal at Zeebrugge. The shipment was lifted at the Ras Laffan plant operated by Qatargas. The 174,000 cubic metres capacity “Maran Gas Pericles” was unloading a US shipment on March 17 at the Chinese Tianjin import facility, operated by China National Offshore Oil Corp. The cargo had been lifted on February 17 at the Sabine Pass plant in Louisiana, operated by Cheniere Energy.

 

Greece and Thailand LNG

March 16 (LNGJ) - The 140,000 cubic metres capacity carrier “Arctic Voyager” is scheduled to deliver a cargo on March 19 to the Revithoussa import terminal in Greece from the Hammerfest plant in Norway operated by Statoil. The 155,000 cubic metres capacity vessel “Gaslog Sydney” is scheduled to unload a shipment on April 4 at the import terminal at Map Ta Phut in Thailand. The Thai cargo was lifted from the Equatorial Guinea plant on Bioko Island in West Africa, operated by Marathon Oil.

UK cargo for March 21

March 15 (LNGJ) - The 261,700 cubic metres capacity Q-Max carrier “Lijmiliya” is scheduled to deliver a cargo on March 21 to the UK South Hook terminal at Milford Haven in Wales from Ras Laffan in Qatar, port authorities said. . The deliveries of LNG to Europe’s largest natural gas market come at a time when prices have fallen to their lowest levels of 2017. The UK National Balancing Point price was last at the equivalent of $5.05 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at around $5.10 per MMBtu.