In this issue


Our Europe editor

French utility and energy company Engie has signed a marketing agreement with the owner of an established LNG import terminal in the Caribbean that will underpin small-scale LNG deliveries from the US to Panama and the Dominican Republic for power and fuel use.

The International Gas Union has appealed to India at a meeting in New Delhi, which recently suffered a pollution crisis, to use more available liquefied natural gas as a replacement for coal to help improve the nation's air quality.

Pivotal LNG will use plants in southeast for Caribbean cargoes

Our North America editor in New York

Carib Energy, a subsidiary of US shipping line Crowley Maritime Corp., has been given approval to export LNG in containers on board cargo ships to any country in Central America, South America or the Caribbean and with the fuel supplied by small-scale plants in three states in the US southeast.

Our Europe editor

Golar LNG, the Norwegian fleet owner and project developer, said the shipping market shows positive signs with improving utilisation rates and the re-appearance of round-trip economics as it reported a narrowing of third-quarter operating losses.

The Dutch Gate LNG import terminal formally celebrated its expansion with 400 guests invited by the main shareholders, utility company Gasunie and the international storage giant Royal Vopak and by the main break-bulk partner, Royal Dutch Shell.

Our Asia-Pacific editor

Sempra Energy, developer of the US Cameron liquefied natural gas export project in Louisiana with European and Japanese partners, has filed with regulators to proceed with a second LNG export joint venture located in Texas and involving Woodside of Australia.

Central Petroleum, the Australian company with natural gas assets around Alice Springs, said LNG stakeholder Santos has begun its seismic acquisition programme with 1,000 kilometres of data as part of its fulfilment of an obligation to the area's South Amadeus project.

While the Sabine Pass liquefaction and export plant in Louisiana has recently shipped LNG to the Mexican Pacific Coast import terminal at Manzanillo, US pipeline exports of natural gas continued to grow and have doubled since 2009.

Our Asia-Pacific editor

The US is currently shipping its second liquefied natural gas cargo to an import terminal in China as the Sabine Pass export plant in Louisiana heads for record shipments with three Trains completed.

Tellurian Investments Inc., the development company of former Cheniere Chief Executive Charif Souki and his Driftwood LNG project, said General Electric’s oil and gas subsidiary had made a $25 million preferred equity investment in Tellurian.

Our Europe editor

National Grid, the UK natural gas system operator and LNG terminal owner, has just published its “Gas Ten Year Statement”, giving details of latest capacities and updates on projects under development.

Intercontinental Exchange, the leading platform for global futures and options trading, announced the results of the ICE Endex natural gas storage auction held on behalf of Netherlands-based GasTerra.

Our Europe editor

IM Skaugen, the Norwegian operator of small-scale LNG carriers and other fuel vessels, reported a net loss of $13.36 million for the third quarter of 2016 compared with a profit of $4.27M in the year-ago period as it continued to pursue LNG projects.

Philly Shipyard Inc. has delivered the LNG-ready vessel “American Endurance”, the first of four next-generation product tankers built for American Petroleum Tankers, a subsidiary of Kinder Morgan, better known for its US pipelines and storage facilities.

News Nudges

Cove Point LNG makes progress

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.

Awilco LNG earnings

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.

Golar raising market funds

Golar LNG, the global LNG fleet operator and floating storage and regasification unit 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 institutional buyers and with $52.5M added, depending on demand.