The UK will try Glencore's former head of oil in 2027 on charges of bribery
In 2027, Glencore's former oil head Alex Beard will be tried in London on charges of bribery along with five other former employees of the Swiss commodity trading company. Beard was not asked to enter his plea during a short hearing on Wednesday at London's Southwark Crown Court. He had indicated in his first court appearance that he would plead not-guilty. The 57-year old is accused of two counts of conspiracy…
Arbitration awards Kosmos Energy Senegal LNG project to BP, as the sole purchaser
Kosmos Energy announced on Tuesday that a Paris arbitrator ruled in favor of BP, preventing Kosmos to sell liquefied gas from the Greater Tortue project off Senegal and Mauritania. LNG is a key part of BP's energy transition strategy. Energy major BP has established a significant LNG pipeline across the globe, including Sub-Saharan Africa. Nigeria, Angola Cameroon, and Equatorial Guinea are already shipping significant volumes.
Glencore's former head of oil is charged with bribery in a UK court
Alex Beard, former Glencore head of oil, appeared before a London court Tuesday to answer bribery allegations relating to Glencore's operations in Africa. Beard's lawyer told the London Westminster Magistrates' Court that he will plead guilty. The 57-year old is accused of two counts of conspiracy for corrupt payments made to officials of government-owned oil companies and government officials in Nigeria from 2010 to 2014 and in Cameroon, between 2007 and 2008.
African LNG to Attract $103Bln in 2019
With greenfield investments in Nigeria, Egypt, Mozambique and elsewhere reaching nearly $103 billion this year, it is clear that liquefaction is viewed as the most profitable strategy for realizing Africa’s gas potential, said Gas Exporting Countries Forum (GECF).Africa is an exciting frontier in the global natural gas sector. The continent holds 7.1 percent of proven global gas reserves and is expected to…
FLNG Innovations Boost Gas Industry Growth
Liquefied natural gas (LNG) technologies, such as floating LNG (FLNG) innovations, driven by its shorter construction lead times and lower capital investment costs, are increasingly becoming a viable option for increased gas deployments.FLNG helps mitigate siting constraints that shore-based infrastructure may face, pointed out the Kansas City-based engineering firm Black & Veatch.The provider of engineering…
First US FLNG Project Moving Ahead
Plans to construct a U.S. floating liquefied natural gas (FLNG) vessel in China, which may also provide funding and buy part of its output, are moving ahead despite trade tension between the countries, an executive at one of the partners said on Thursday.The Delfin LNG project will be the first of its kind for the United States, which has only onshore liquefaction facilities, and will produce up to 13 million metric tonnes per annum (mtpa) of LNG for export.Delfin could export to China…
GasLog: LNG Demand Grew 9% in 2018
Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018, driven mainly by continued coal-to-gas switching in the industrial, commercial and residential sectors.South Korea…
LNG Investment Set to Grow
Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as he is fresh off of a 12-month stint investigating the market in depth."We wanted to take a fresh look at the market, to identify opportunities both in the production and regassification of LNG" is how McCaul…
LNG Report: Floating Liquefaction & Regasification
International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector. Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of…
IMA Completes 12-month Study of the Floating Liquefaction and Regasification Market
International Maritime Associates has just completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector.Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe…
Golar LNG says New Cameroon LNG Project in Full Swing
Golar LNG said on Thursday its pioneering floating liquefied natural gas (FLNG) project in Cameroon had achieved 100 percent of commercial uptime, following commissioning earlier this year, and was due to offload its sixth cargo soon.The Hilli Episeyo FLNG is the first of its a kind -- an LNG producing vessel converted from an ageing tanker. The start of commercial operations, after producing its first cargo in May, brings Cameroon into a small group of nations exporting LNG.Reporting by Sabina Zawadzki
Keppel Wins FPSO, FSRU Contracts
In Brazil, Keppel FELS Brasil Ltda (Keppel FELS Brasil) has been engaged by MODEC Offshore Production Systems (Singapore) Pte Ltd., part of the MODEC, Inc. group, to undertake the topside module fabrication and integration of the FPSO Carioca MV30, a Floating Production Storage and Offloading vessel (FPSO). This is the sixth FPSO collaboration between Keppel FELS Brasil and MODEC.In Singapore, Keppel Shipyard…
Start of Golar's FLNG in Cameroon May Draw More Africa Clients
Golar LNG said on Monday it had started production at its floating LNG (FLNG) platform in Cameroon, the world's second working example of the nascent technology and a milestone likely to boost its Fortuna project in Equatorial Guinea. As the cost of land-based LNG plants more than tripled in the decade to 2013, Golar pioneered the conversion of ageing LNG tankers into giant refrigerators capable of chilling gas into its liquid form at minus 162 Celsius.
World's Second Floating LNG Project Starts Production in Cameroon
Norwegian shipping firm Golar LNG on Monday said liquefied natural gas (LNG) production had started at its floating LNG production platform in Cameroon, the world's second working example of the nascent technology. The trading arm of Russia's Gazprom has purchased the entire 1.2 million tonne per annum output from Golar's FLNG platform, the Hilli Episeyo, for eight years. The deal was agreed in late 2015 between Golar…
LNG Market to Suffer From Oversupply Until 2021 - Vitol
Global prices of liquefied natural gas (LNG) will face pressure from oversupply over the next two to three years, particularly in warmer months, top energy trader Vitol said on Wednesday. New LNG production in countries such as the United States and Cameroon that is set to start up in the coming months means pressure on the rapidly expanding market will be particularly felt in 2019, Pablo Galante Escobar, who heads Vitol's LNG trading, told the IP Week conference.
FLNG Hilli Episeyo Departs Singapore Early
Golar LNG Limited said today that its floating liquefied natural gas (FLNG) vessel Hilli Episeyo departed Singapore for Cameroon earlier than anticipated, leaving at 10 a.m. local time on October 12. Hilli Episeyo was scheduled to leave Singapore between October 15 and October 20, but Golar LNG said a decision was made to complete LNG bunkering in Cameroon rather than in Singapore. The voyage to Cameroon is expected to take between 32 and 40 days.
N-Sea Begins Work in Cameroonian Offshore Market
Subsea services provider N-Sea said it has begun work in the Cameroonian offshore market, via a contract win with Dutch offshore lifting and transportation company Jumbo Offshore. With phase one completed in mid-July, the project takes place off the shores of Cameroon’s South Province, as a part of the Hilli Episeyo Subsea Soft Yoke Installation. N-Sea’s workscope comprises diving and remotely operated vehicle (ROV) support, performing all subsea installation of the soft yoke system.
Petronas Raises Government Payout as Profit Surges
Malaysia's state-owned energy firm Petroliam Nasional Bhd on Friday raised its dividend payment commitment to the government after reporting that second-quarter profit quadrupled because of higher oil prices and improved margins. But Petronas, as the company is known, maintained a cautious outlook, saying its overall year-end performance is expected to be "fair" as oil price volatility continues. The energy…
Addax Shuts Offices after Swiss Bribery Case
Chinese-owned oil firm Addax Petroleum is shutting its offices in Geneva, Houston and Aberdeen, it said on Monday, a month after it agreed to pay 31 million Swiss francs ($31.85 million)to settle charges of suspected bribery of foreign officials. Confirming a report in the Tribune de Geneve newspaper, Addax said its parent firm Sinopec International Petroleum Exploration and Production Corporation (SIPC) would integrate the three offices into a new technical centre in Beijing.
African LNG Exports to Get Boost from Offshore Projects
Cameroon plans to begin exporting liquefied natural gas later this year using a newly designed offshore plant that analysts say could slash production costs and unlock African reserves not previously considered economically viable. West and Central Africa's Gulf of Guinea has seen a wave of new oil and gas exploration, particularly since Tullow Oil discovered Ghana's huge Jubilee gas field in 2007. But the…
