This week

Australia may be LNG importer on
way to being largest global exporter

An Australian plan to deploy a floating storage and regasification unit (FSRU) or build an onshore terminal to bring LNG cargoes into the East Coast could be viable to supply the domestic markets in three states and to offset the massive export flows.

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KBR Inc., the US energy and LNG project engineering company, posted revenue in the fourth quarter of $1.2 billion compared with $1.1Bln in the same three months…
Sevan Marine, the Norwegian engineering services company, said it signed a long-term framework agreement with US major ExxonMobil for the provision of services and use of Sevan’s…
Chart Industries, one of the leading providers of liquefied natural gas liquefaction and storage equipment, swung to a net profit for 2016 from a previous loss amid…
Gaztransport and Technigaz (GTT), the French owner of liquefied natural gas maritime and other storage technologies, said annual net profits edged higher as the shipping industry began…
The Israeli Leviathan natural gas project in the East Mediterranean, which will impact the regional LNG market, has taken a positive final investment decision to proceed with…
The latest expansion in Australian and US liquefied natural gas supply capacity, which is costing developers more than a quarter of a trillion dollars to build, was…
The General Dynamic NASSCO shipyard in San Diego, California, has begun sea trials for the latest LNG-ready petroleum products carrier built for US shipping line Seacor Ocean Transport Inc.
Woodside Chief Executive Peter Coleman said the Browse LNG project originally planned as an onshore plant in Western Australia, then switched to be a floating LNG venture…
Delek Group of Israel said loan documents were signed for up to $2.5 billion for the development of the Leviathan project in the East Mediterranean offshore Israel…
Woodside Petroleum, the largest Australian liquefied natural gas plant operator, has recorded a full-year net profit of US$973 million compared with US$113M the previous year ahead of…
The US Department of Energy has published its latest monthly report on liquefied natural gas imports and exports, showing that 15 cargoes were exported from the Sabine…

LNG for Belgium and Jordan

Feb 24 (LNGJ) - The 155,000 cubic metres capacity carrier “Yenisei River”, operated by Dynagas, is scheduled to unload a cargo from Qatar on February 24 at the Zeebrugge import terminal in Belgium. The 160,400 cubic metres capacity vessel “Soyo” has just unloaded a cargo from Angola LNG in southwest Africa at the Aqaba import facility in the Kingdom of Jordan, according to shipping data.

First March LNG for UK

Feb 24 (LNG) - The 266,000 cubic metres capacity Q-Max vessel “Zarga” will be the first to deliver a March LNG cargo to the UK. The South Hook regasification terminal in Milford Haven in Wales is one of the main gateways for European LNG imports and the cargo from Ras Laffan in Qatar will be unloaded on March 3, according to the port authorities. The shipment will arrive as European natural gas prices soften from winter highs. The UK National Balancing Point price was last at the equivalent of $5.90 per million British thermal units while one of the main continental European prices, the Dutch Title Transfer Facility (TTF), was quoted at $5.33 per MMBtu.

Marathon CFO named

Feb 24 (LNGJ) - Marathon Oil, the US company whose assets include the Equatorial Guinea LNG export plant in West Africa and US shale interests in areas such as the Eagle Ford in Texas, named Dane Whitehead as its new Chief Financial Officer. Whitehead, aged 55, has most recently served as executive vice president and CFO of EP Energy Corp. He joined El Paso in 2006 and prior to that served as CFO of Burlington Resources Canada. “I look forward to working closely with Dane and expect him to play a key role in driving our strategy and creating long-term shareholder value,” said Lee Tillman, Marathon’s President and Chief Executive.

Toyo Indonesia contract

Feb 23 (LNGJ) - Toyo Engineering Group of Japan said its Indonesian subsidiary and a local company, PT Timas Suplindo, were awarded an engineering, procurement and construction contract for the Suban Compression Project by ConocoPhillips. The project is located in the Suban Field in South Sumatra in Indonesia. “The scope of work is to develop inlet compression facilities upstream of an existing plant by installing five gas turbine compressors, one gas turbine generator and the required auxiliary and supporting systems,” Toyo said.

Tuscany FSRU tender

Feb 22 (LNGJ) - The floating LNG import facility offshore the west coast of Italy, “FSRU Toscana”, has issued a tender for the regasification and storage bundled service for 2017-2018 amounting to natural gas capacity equivalent to 1.5 billion cubic metres. Bids must be submitted no later than March 6. The facility is moored about 22 kilometres off the coast between the cities of Livorno and Pisa. It is connected to the Italian national gas transmission network grid through a 36.5km pipeline from the shore to the mainland operated by Snam Rete Gas.

Petrofac positive note

Feb 22 (LNGJ) - Petrofac, the London-based oil and gas services company with global operations, has delivered positive results for 2016, driven by record revenues, significant cost reduction and strong cash generation. “In a busy year, the Group has also demonstrated its track record for operational delivery with more than 240 million man-hours worked across the portfolio,” said Ayman Asfari, Petrofac Chief Executive. “Whilst the market remains competitive, bidding activity has increased in recent months. We have right-sized our business, have a good pipeline of opportunities across our core markets and remain cost competitive, as evidenced by recent bidding success,” the company said.

Goyder to join Woodside

Feb 21 (LNGJ) - Woodside Petroleum, the operator of two LNG export plants in Western Australia, said Chairman Michael Chaney would step down after next year's annual general meeting to be replaced by Richard Goyder, Managing Director of Wesfarmers, Australia's biggest industrial group. Goyder will in the interim join Woodside's board as an independent, non-executive director. Woodside Chairman Michael Chaney, who joined the board in 2005 and became Chairman in 2007, said it was fitting that such a prominent Australian business leader should become the next Chairman. “Richard has demonstrated his focus on delivering value for shareholders and commitment to excellence throughout his extensive business career,” said Chaney.

Sevan Marine earnings

Feb 21 (LNGJ) - Sevan Marine, the Norwegian engineering services company, reported fourth-quarter revenue from operations of $2.2 million as it continued to support two floating production, storage and offloading (FPSO) developments for the UK Continental Shelf, one cylindrical floating LNG project for a US major and delivered engineering support for the Goliat project in the Barents Sea. “The company is in a solid financial position, with a net cash position of $24.8M and an equity ratio of 60 percent,” Sevan said. It also received notification in January of TechnipFMC’s intention to exercise an option to buy Sevan’s 51 percent shareholding in Kanfa AS.

LNG for France and Chile

Feb 20 (LNGJ) - The 210,100 cubic metres capacity Q-Flex vessel “Al Ghariya” is scheduled to deliver a cargo from Qatar on February 21 to the French Fos Cavaou import terminal near the city of Marseilles, according to shipping data. The 145,000 cubic metres capacity carrier “Methane Heather Sally”, operated by GasLog, is unloading a cargo from Trinidad at the Quintero import terminal in Chile.

Tepco-Chubu power move

Feb 20 (LNGJ) - Tokyo Electric Power Co. and Chubu Electric, whose LNG procurement joint venture Jera Co. Inc. is the largest global buyer, are holding talks about integrating their thermal power generation businesses in fiscal 2018. Tepco and Chubu launched Jera for joint LNG procurement, though stopped short of amalgamating their thermal power assets because of concerns from Chubu that funds could be diverted to the clean-up of the disaster-hit Fukushima nuclear plant, owned by Tepco. However, Tepco recently compiled a draft business plan on the power businesses that convinced Chubu that no joint funds could be diverted.

LNG for Spain and Japan

Feb 17 (LNGJ) - The 138,270 cubic metres capacity “Milaha Ras Laffan” will unload a cargo at the Barcelona import terminal in northeast Spain on February 19 from the Qatargas plant at Ras Laffan, according to shipping data. The 147,200 cubic metres capacity “Arctic Princess” will deliver a cargo to the Bilbao import terminal in northwest Spain on February 20 from the Hammerfest export plant in northern Norway, operated by Statoil. The 145,000 cubic metres capacity “LNG Dream” will unload a shipment on February 25 at the Japanese Himeji regasification facility, owned by Osaka Gas, from the Woodside Energy export terminal at Dampier in Western Australia.

Cove Point LNG progress

Feb 17 (LNGJ) - The US Cove Point LNG export project in Maryland, owned by Dominion Energy, is almost 75 percent complete, according to the latest progress report filed with the Federal Energy Regulatory Commission. The existing import terminal on Chesapeake Bay is being transformed into a liquefaction plant and is scheduled to come on stream in 2018. “At the terminal, work continued on modifications to the existing plant in the areas of the jetty platforms and tie-in scope,” said Dominion. “Construction activities conducted during the January period included preliminary commissioning activities for new compressor units and associated equipment, final building completion activities, and earthwork for corrosion protection and electrical grounding,” it added.

Thai LNG expansion

Feb 16 (LNGJ) - PTT, the state-run oil and gas company of Thailand, said it planned to increase LNG imports from 5 million tonnes per annum to 11.5 MTPA under the expansion plan for the Map Tha Phut terminal. PTT Chief Executive Tevin Vongvanich also confirmed that a second onshore import facility would be constructed with 7.5 MTPA of capacity to take the total capacity to 19 MTPA. “The project has been approved by the government and an environmental assessment is underway,” said Vongvanich. PTT recently agreed a 15-year contract to buy 1.2 MTPA from Malaysian energy company Petronas to add to current volumes received from Qatar and elsewhere.

Awilco LNG earnings

Feb 15 (LNGJ) - Awilco LNG, the small Norwegian fleet operator in the spot market, said the positive trend seen in the fourth quarter of 2016 persisted into 2017 as charter rates West of Suez further improved to $52,000 per day while East of Suez rates was reported at $38,000 per day. “Despite high activity and increasing spot market rates, the short-term and mid-term time charter rates have only slightly improved,” said Awilco as it reported lower full-year freight income of $34.8 million compared with $37.4M in 2015.

APLNG firm gets CFO

Feb 14 (LNGJ) - Origin Energy, the upstream operator of the Australia Pacific LNG plant on Curtis Island in the state of Queensland, has appointed Lawrie Tremaine as its new Chief Financial Officer. Tremaine joins Origin from Woodside Energy, operator of two Australian LNG plants, and where he was Executive Vice President and CFO. He had joined Woodside in 2006 from Alcoa where he held senior financial roles in Australia and across the Asia-Pacific. Origin Chief Executive Frank Calabria said he was delighted to have Tremaine join the company’s executive leadership. “Lawrie’s appointment is another important step forward in achieving our immediate goal of reducing debt and improving returns so that we can position Origin for growth in a rapidly changing energy market, while delivering on the potential of our investment in Australia Pacific LNG,” said Calabria.

Golar to raise $400M

Feb 14 (LNGJ) - Golar LNG, the global LNG fleet operator and floating storage and regasification unit (FSRU) specialist, is raising up to $400 million by selling a form of bond, Convertible Senior Notes due in 2022. Golar is offering $350M of the paper in a private placement to qualified institutional buyers. “The company also intends to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $52.5M,” Golar said. The company intends to use a portion of the net proceeds to fund other debt repayments and for other general corporate purposes.

UK gas price freeze

Feb 13 (LNGJ) - Centrica, the UK energy company with LNG imports from Qatar and future volumes from the US, said its UK operating utility, British Gas, will extend its price freeze for its customers on its standard tariff until August 2017. The UK natural gas retail market is the most competitive in Europe with over 50 suppliers. “Despite increases in external costs in the last year British Gas has consistently offered one of the cheapest standard energy deals available,” Centrica said. “In December, we promised to take tangible action to improve how the energy market works for all our customers. That effort continues,” it added.

Chubu gas for Tokyo

Feb 10 (LNGJ) - Chubu Electric Power, one of Japan’s largest LNG importers with operations in the central region of the Honshu main island, has opened up a new Tokyo office to promote natural gas sales in the coastal Tokyo metropolitan area under the deregulation system that has opened up energy markets in the country. “The Tokyo metropolitan area is a large market and has high potentials for growth,” said Chubu. “Marketing efforts have been underway there, regarding power and gas for corporate customers as well as residential,” it added. “Chubu Electric will step up its power and gas sales activities in Tokyo and neighboring prefectures to reach its targets of selling 20 billion kilowatt hours in non-Chubu areas, and 3 million tonnes of regasified LNG, both within and outside the Chubu area,” the company said.

Dutch Gate LNG down

Feb 9 (LNGJ) - The Gate LNG import terminal in The Netherlands posted a decrease of around 26 percent in throughput volumes during 2016 compared with last year, according to the annual earnings report from the Port of Rotterdam. LNG throughput reached 1.7 million tonnes compared with 2.3MT in 2015. “Although the extent of throughput of LNG is still modest, it more than doubled in the first six months of the year,” the port said. “The principal reasons for this were the gradual decline of the LNG price in Asia and the increase in the re-export of LNG to industrial clusters in Europe; where there has been a shift from fuel or gas oil to LNG as the fuel for production processes,” the port said. However, the port pointed to rising demand from inland vessels and trucks refueling with LNG in Rotterdam and a growing number of sea-going vessels adopting the dual-fuel system.

BHP $2Bln US spend

Feb 9 (LNGJ) - Australian energy and commodities company BHP Billiton, a stakeholder in the North West Shelf LNG export plant in Western Australia, said its board had approved expenditure of US$2.2 billion for its share of the development of 14 production wells in the Mad Dog Phase 2 project in the US Gulf of Mexico. BHP Billiton holds a 23.9 percent interest in the Mad Dog field and other participants include BP of the UK and Union Oil Co. of California, an affiliate of Chevron Corp. Steve Pastor, BHP Billiton President Operations Petroleum, said: “Mad Dog Phase 2 is one of the largest, discovered and undeveloped resources in the Gulf of Mexico, one of BHP Billiton’s preferred conventional deep-water basins.”

Golar share offering

Feb 8 (LNGJ) - Golar LNG Partners, the affiliate of the fleet owner founded in Norway but now based in Bermuda and listed on the US Nasdaq stock exchange, plans to sell 4.5 million common units, representing limited partner interests in an underwritten public offering. The partnership expects to grant to the underwriter a 30-day option to purchase up to an additional 675,000 common units. “The underwriter intends to offer our common units in transactions on the Nasdaq Global Market, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices,” Golar explained. US investment bank Morgan Stanley is acting as the underwriter.

Gasum income lower

Feb 8 (LNGJ) - Gasum, the natural gas company in Finland and controller of Nordic LNG company Skangas, posted an annual revenue drop in 2016 to 843 million euros (US$900 million) as its LNG sales rose. Gasum’s overall revenues were down from the 915M euros recorded in 2015 as profits declined to 98.18 million euros from 101.07M euros in 2015. Sales of conventional natural gas declined while biogas sales were higher. “Our Nordic position as a significant player in liquefied natural gas was strengthened as the Risavika LNG production plant (Norway) was acquired by our subsidiary Skangas,” said Chief Executive Johanna Lamminen. “In addition to this, we diversified the Finnish energy market with LNG as Finland’s first LNG import terminal was opened in Pori in August 2016,” the CEO added.

Dominion name change

Feb 7 (LNGJ) - Dominion Resources Inc., the US natural gas and utility company and owner of the Cove Point LNG export project in the state of Maryland, intends to change its name to Dominion Energy in recognition of its focus on the evolving energy marketplace. The company, based in Richmond, Virginia, also unveiled a new logo. “Dominion above all else is an energy company, committed to serving our customers safely and dependably,” said Thomas F. Farrell II, Chairman, President and Chief Executive. “Our company and our employees are proud of the work we have done in delivering energy for 119 years and of the reputation we have built through reliable and affordable service throughout the 18 states where we do business,” added Farrell.

California gas plans

Feb 7 (LNGJ) - Australian company Sacgasco Ltd is pushing ahead with its acquisition of natural gas wells in the Sacramento Basin of the US state of California. Sacgasco has signed an agreement to acquire 13 additional operated natural gas wells in the basin from ABA Energy Corp. of Bakersfield, California. “This transaction adds complementary and strategic value to Sacgasco as it gives us access to additional operated leases, production, gas infrastructure facilities and top quality seismic data to pursue our goal of becoming a major producer of natural gas in energy-hungry California,” said Sacgasco’s Managing Director Gary Jeffery.

Turkey and India cargoes

Feb 6 (LNGJ) - The 140,000 cubic metres capacity “Arctic Voyager” will deliver a cargo to Turkey on February 12 at the EgeGaz Aliaga terminal on the shore of the Aegean Sea near Izmir from the Hammerfest export plant in Northern Norway, operated by Statoil, according to shipping data. The 155,000 cubic metres capacity vessel “British Emerald” will deliver an Australian shipment on February 14 to the Hazira import terminal on the west coast of India. The cargo was lifted from the Dampier facility in Western Australia, operated by Woodside Petroleum.

Japanese LNG shipments

Feb 6 (LNGJ) - The 216,200 cubic metres capacity Q-Flex vessel “Al Gattara” is scheduled to unload a shipment from Qatar on February 13 at the Japanese Sakaide import terminal, operated by Shikoku Electric to supply the city of Takamatsu. The 137,350 cubic metres capacity carrier “Al Wajbah” is expected to unload a Qatari cargo on February 15 at the import facility at Niigata in Japan, operated by Tohoku Electric.

IGU event May 24-27

Feb 3 (LNGJ) - The International Gas Union Research Conference (IGRC) will take place in Rio de Janeiro, Brazil, from May 24 until May 27. The 2017 edition of the event has the theme “Natural Gas: Catalysing the Future”, which will look at technology as a strategic key enabler to the future gas industry growth. “The conference will map out the technological trends, as one of the fundamental pillars to industry development,” said the IGU. The body’s most important event in 2018 is the World Gas Conference, scheduled for June 25-29 in Washington DC.

LNG ship movements

Feb 3 (LNGJ) - The 135,225 cubic metres capacity “Golar Mazo” arrived at the Bontang LNG plant in Indonesia to lift a cargo for Taiwan, according to shipping data. The 155,000 cubic metres capacity “British Emerald”, operated by BP Shipping, and the Chinese-owned 147,000 cubic metres capacity vessel “Dapeng Star” docked at the Dampier export plant, operated by Woodside Petroleum, in Western Australia to load Asian market shipments. The 172,000 cubic metres capacity “Beidou Star” has arrived at Barrow Island in Western Australia to lift a cargo from the Chevron-operated Gorgon LNG plant.

Cargoes for UK and Spain

Feb 2 (LNGJ) - The 210,000 cubic metres capacity Q-Flex vessel “Al Khattiyah” is scheduled to unload a cargo for Qatar on February 4 at the UK Isle of Grain import terminal, operated by National Grid on the Medway River, southeast of London, according to shipping data. The 75,000 cubic metres capacity vessel “Cheikh Bouamama” is unloading a shipment from Algeria on February 2 at the Cartagena import terminal in southeast Spain.

New CFO for GasLog

Feb 1 (LNGJ) - LNG carrier fleet owner GasLog has appointed Alastair Maxwell as the new Chief Financial Officer from early March 2017 after the decision by Simon Crowe to resign from the role and leave the company. GasLog said Maxwell had 29 years in investment banking in both the energy and finance sectors. He was Co-Head of the Global Energy Group of Goldman Sachs from 2010 to 2016. Paul Wogan, Chief Executive of GasLog Ltd, based in Monaco, said “On behalf of the board, Chairman Peter Livanos and the management team, I am pleased to welcome Alastair to GasLog. His deep understanding of the energy sector and financial markets and his involvement in some of the largest transactions in the industry will make him a huge asset to the team.”

LNG cargoes delivered

Feb 1 (LNGJ) - The 160,000 cubic metres capacity vessel “Golar Celsius” has just unloaded a cargo from Qatargas at the Egyptian Port of Ain Sokhna in the Gulf of Suez, according to shipping data. The 160,000 cubic metres capacity “Asia Energy” arrived at the Map Ta Phut import terminal in Thailand with a cargo from the Gladstone export plant in eastern Australia. The 155,000 cubic metres capacity “Tangguh Sago” has arrived with a cargo from Indonesia at the Kwangyang import terminal in South Korea, operated by POSCO, the steel company.

Stolt-Nielsen posts profit

Jan 31 (LNGJ) - Norwegian shipping and storage company Stolt-Nielsen, whose natural gas subsidiary has plans for small-scale LNG storage and distribution projects, posted net profits in the fourth quarter of $22.8 million from $463M in revenues. “At Stolt Tankers, the softness we observed in the prior period continued into the fourth quarter,” said Niels G. Stolt-Nielsen, the company Chief Executive. “Our outlook for 2017 remains largely unchanged. In the markets served by Stolt Tankers, there is still an oversupply of tonnage, and with significant newbuilding deliveries in 2017, combined with a weak product tanker market, we believe the year will be challenging,” he added.

Thai gas deal for $900M

Jan 31 (LNGJ) – Royal Dutch Shell has reached an agreement to sell natural gas and exploration field assets in Thailand for $900 million to Kuwait Foreign Petroleum Exploration Co. The assets include two Shell units, Shell Integrated Gas Thailand Ltd and Thai Energy Co. These two companies together hold a 22.2 percent equity stake in the Bongkot field, and adjoining acreage in four blocks offshore Thailand. Shell had acquired the stake in the Bongkot field in the Gulf of Thailand when it bought BG Group of the UK. The other shareholders in the assets are Thai energy company PTT and French oil and gas company Total.

LNG ship movements

Jan 30 (LNGJ) - The 134,425 cubic metres capacity carrier “Galea”, operated by Shell Shipping, has berthed at the US Sabine Pass export plant, operated by Cheniere Energy in Louisiana, to lift a cargo, according to shipping data. The 160,500 cubic metres capacity vessel “Sonangol Sambizanga” is scheduled to deliver a shipment on February 4 to the Barcelona import terminal in Spain from the LNG export plant in the southwest African nation of Angola, located at the coastal town of Soyo.

Chevron returns to profit

Jan 30 (LNGJ) - Chevron Corp., the California-based US major with LNG projects in Australia and elsewhere, has posted fourth-quarter net income of $415 million compared with a loss of $588M in the same three months of the previous year. “Our 2016 earnings reflect the low oil and gas prices we saw during the year,” said Chairman and Chief Executive John Watson. “We responded aggressively to those conditions, cutting capital and operating expenses by $14 billion,” he added. “We achieved first gas and cargo shipments at our Gorgon Project in Australia, first gas at our Chuandongbei Project in China and increased production from our (US) Permian Basin shale and tight oil properties,” said CEO Watson.

Three cargoes for Korea

Jan 27 (LNGJ) - Three cargoes are being delivered to South Korea in early February. The 135,000 cubic metres capacity “Hyundai Aquapia” will deliver a cargo on February 3 to the Pyeongtaek import terminal from the Qalhat export plant, located in the Middle East sultanate of Oman. The 138,200 cubic metres capacity vessel “Hanjin Ras Laffan” will unload a cargo from Qatar on February 4 at the Incheon import terminal, operated by Korea Gas Corp. The 138,200 “Hanjin Muscat” will deliver a shipment from Oman LNG to the Pyeongtaek terminal on February 7.

February LNG deliveries

Jan 26 (LNGJ) - The 147,200 cubic metres capacity carrier “Arctic Lady” is scheduled to deliver a shipment on February 2 to the Barcelona import terminal in northeast Spain from the Hammerfest export plant in northern Norway, operated by Statoil. The 138,000 cubic metre capacity vessel “British Merchant”, operated by BP Shipping, will unload a cargo on February 10 at the Tai-Chung import terminal in Taiwan from the Trinidad export plant in the Caribbean.

BHP Billiton LNG price

Jan 25 (LNGJ) - BHP Billiton, the Australian commodities and energy company with a stake in the North West Shelf LNG export plant, said its full-year 2016 average LNG price realized was US$7.95 per million British thermal units. BHP Chief Executive Andrew Mackenzie said in an update on activities that the company was accelerating its “counter-cyclical” exploration efforts in the petroleum sector in 2017. “We are encouraged by recent positive drilling results at the LeClerc well in Trinidad and Tobago and the Caicos well in the Gulf of Mexico. After the first successful rig, our Onshore US gas hedging program will also be expanded to secure attractive returns,” said Mackenzie.

Qatar starts Dunkirk flow

Jan 24 (LNGJ) - RasGas Co., which is currently in the process of merging with Qatargas, delivered its first LNG cargo to the French Channel port terminal at Dunkirk under the Sales and Purchase Agreement signed between the Qatari company and Electricte de France (EDF) in June 2016. The cargo was unloaded from the 210,100 cubic metres capacity Q-Flex carrier “Murwab”. “RasGas is proud to commence delivery with this first LNG cargo under our SPA with EDF,” said Hamad Mubarak Al Muhannadi, Chief Executive of RasGas. “This is another milestone for RasGas and the EDF Group, as well as for the relationship between Qatar and France for the safe, reliable and clean supply of LNG for France and Europe,” added Al Muhannadi.

Tepco recovery signal

Jan 23 (LNGJ) - Tokyo Electric Power Co., the largest user of LNG in Japan, is considering selling its first corporate bonds since March 2011, just before the Fukushima earthquake and tsunami overwhelmed one of its nuclear plants, causing death and destruction and a financial crisis for the company. The bonds are expected to be offered by a subsidiary, Tepco Power Grid. After the Fukushima disaster, Japanese LNG imports rose as gas-fired generation replaced nuclear and Tepco formed an LNG procurement joint venture with another LNG buyer Chubu Electric called Jera Co. Inc.

London energy event

Jan 23 (LNGJ) - The London-based Energy Institute (EI), the chartered professional membership body for the industry with 200 company members, will host International Petroleum (IP) Week 2017 in the UK capital from February 21-23. Speakers will include leading LNG industry figures such as Mohammed Bin Saleh Al-Sada, whose roles include being Chairman of the board of Qatargas and Minister for Energy and Industry for the State of Qatar. The chief executives of oil majors and LNG players will also address delegates, including Patrick Pouyanne, Chairman and CEO of Total.

CNOOC strategy aims

Jan 20 (LNGJ) - The largest Chinese LNG importer, China National Offshore Oil Corp., is bringing on stream five new projects during 2017, three oil fields in China, a gas field in Indonesia and the Hangingstone oil sands joint venture in Canada. CNOOC added that it had 20 other projects under construction. The company's total capital expenditure for 2017 will be up to 70 billion Chinese yuan ($10Bln). ”We will maintain prudent financial policy and improve capital efficiency in response to the continued challenge posed by low oil prices,” the company said in a strategy update. The CNOOC net production target for 2017 is in the range of 450 to 460 million barrels of oil equivalent, of which around 64 percent will be produced in China and 36 percent would come from overseas. CNOOC has stakes in the Northwest Shelf LNG plant in Western Australia and in the Tangguh liquefaction facility in Indonesia.

Hoegh LNG bond move

Jan 19 (LNGJ) - Hoegh LNG Holdings, the fleet owner and floating storage and regasification unit provider for use as import facilities, said it was planning a sale of senior unsecured bonds in the Norwegian bond market with a maturity date of February 2022. The net proceeds would be used for the part refinancing of existing borrowing and for general corporate purposes. Lead managers of the bond issue are Denmark’s Danske Bank Markets, Norwegian investment bank DNB Markets and Swedish investment bank Nordea.

Norway licence round

Jan 19 (LNGJ) - A total of 29 companies have been awarded 56 new production licenses on the Norwegian continental shelf as part of Norway’s Awards in Predefined Areas (APA) 2016 licensing round. The licences cover 148,014 square kilometres of blocks in the North Sea, Norwegian Sea and Barents Sea. Of the licences awarded, 36 are in the North Sea, 17 in the Norwegian Sea and three in the Barents Sea. Norwegian energy company Statoil, Europe’s only baseload LNG plant operator, led the way in the APA round with interests awarded in 29 licences and with operatorship of 16 of these.

LNG for India and China

Jan 18 (LNGJ) - The 155,000 cubic metres capacity “British Ruby”, operated by BP Shipping, is scheduled to deliver an Indonesian cargo on January 23 to the Indian Dahej import terminal, owned by Petronet LNG, according to shipping data. The 174,100 cubic metres capacity “Cesi Gladstone” will unload a cargo on January 23 at the Qingdao import terminal in China, owned by Sinopec, from the Australia Pacific LNG plant in Queensland, eastern Australia. In another shipping movement, the 160,000 cubic metres capacity vessel “Energy Atlantic” will unload a shipment on January 23 at the Egyptian port of Ain Sokhna in the Gulf of Suez from the Ras Laffan plant in Qatar.

TechnipFMC in pledges

Jan 17 (LNGJ) - TechnipFMC, the merged combination of subsea energy and LNG players, France Technip and FMC Technologies of the US, is operating as a single company from January 17 with US and Euronext-listed shares. “This is a transformational day for TechnipFMC and our employees,” said Thierry Pilenko, Executive Chairman of TechnipFMC “As one company, we can make oil and gas projects more viable, driving value for our clients and shareholders. With an unmatched commitment to innovation and efficiency, TechnipFMC will advance the creation of cost-efficient solutions for years to come,” stated Pilenko. Chief Executive Doug Pferdehirt said: “With our merger complete, TechnipFMC is uniquely positioned to unlock possibilities for our clients to transform their project economics. We will do this by inspiring a culture of challenging conventions and finding new and better ways of doing things.”

Spanish Malta LNG role

Jan 16 (LNGJ) - Reganosa, owner of the Mugardos import terminal at El Ferrol in northwest Spain, is the company with the contract to operate and maintain the first LNG regasification project of the Mediterranean island nation of Malta. The facility has just been brought on line with the recent delivery of the first cargo to the 125,000 cubic metres capacity LNG storage unit, the “LNG Armada Mediterrana”, to supply a combined-cycle gas power plant with capacity of 215 megawatts. Electrogas is a joint venture involving German power group Siemens, Azerbaijan energy company SOCAR and Maltese firm Gem Holdings Ltd.

Angola LNG for Portugal

Jan 16 (LNGJ) - The 160,400 cubic metres capacity carrier “Malanje” is scheduled to deliver a cargo to the Sines import terminal in Portugal on January 22 from the Soyo export plant in Angola, southwest Africa, according to shipping data. In other shipping movements, the 127,700 cubic metres capacity “LNG Flora” will unload a shipment on January 20 at the Tai-Chung import terminal in Taiwan. The cargo came from the Japanese Sakai Senboku terminal in Osaka Bay, operated by Kansai Electric. The 155,000 cubic meters capacity “Gaslog Sydney” will deliver a cargo on January 26 to the Pyoengtaek terminal in South Korea from the Gladstone export plant eastern Australia, operated by Santos.

LNG carrier movements

Jan 13 (LNGJ) - The 141,000 cubic metres capacity “LNG Cross River” is scheduled to deliver a cargo to the Portuguese import terminal of Sines, located south of Lisbon, on January 16 from the Bonny Island export plant in Nigeria, according to shipping data. The 145,000 cubic metres capacity vessel “Al Deebel” is scheduled to deliver a shipment on January 19 to the Egyptian port of Ain Sokhna in the Gulf of Suez from the Qatari export complex at Ras Laffan. The 210,100 cubic metres capacity Q-Flex carrier “Al Ghariya” is expected to unload a shipment from Qatargas on January 20 at the Incheon terminal in South Korea. The 155,000 cubic metres capacity vessel “GasLog Singapore” will arrive at Port Moresby in Papua New Guinea on January 17 to lift a cargo for North Asia.

Hydro Brazil LNG plan

Jan 12 (LNGJ) - Norway-based aluminium company Hydro has signed accords with the northern Brazilian state of Para and the Brazil unit of Royal Dutch Shell for imported LNG to replace fuel oil consumption at the Alunorte alumina plant, the largest in the world. The agreements were signed in the city of Belem by Hydro Chief Executive Svein Richard Brandtzaeg and the other parties. Hydro said the accord with Shell outlines terms for delivery of LNG and the establishment of necessary infrastructure close to the Alunorte plant. “Hydro aims to be carbon neutral from a life cycle perspective in 2020,”said Hydro CEO Brandtzaeg. Alumina is used as a refined compound for the smelting of aluminium metal.