Golar Power Wins Brazil Plant Gig
Golar LNG, a liquefied natural gas shipping company registered in Bermuda, said that its joint venture with Stonepeak Infrastructure Partners, Golar Power Limited has been awarded a 25 year power purchase agreement (PPA) for the construction of a 605MW combined cycle thermal power plant.The LNG-to-power Project will be developed by CELBA (Centrais Eletricas Barcarena S/A), a special purpose company 50% controlled by Golar Power.Located in the Brazilian city of Barcarena, State of Pará…
Largest Chinese-built FSRU Delivered
PaxOcean’s Zhoushan Shipyard has delivered a 26,000m3 floating storage and regasification unit (FSRU) Karunia Dewata to Indonesia-based Jaya Samudra Karunia (JSK). The FSRU is the largest to be built in China and will be capable of regasifying around 50 million standard cubic feet per day.The project marks a milestone for China's growing gas shipping industry and will help increase the development of Indonesia’s gas supply chain, where the unit will be based. The unit is also the first FSRU that PaxOcean has built.
DynaGas LNG Partners in the Red in Q3
Monaco-based owner and operator of liquefied natural gas (LNG) carriers, reported a third-quarter ended September 30, 2018 loss of $654,000, after reporting a profit in the same period a year earlier.The gas shipping company said that the Q3 results included $2.3 million of scheduled class survey and dry-docking costs related to the Yenisei River, one of the three tri-fuel diesel engine (TFDE) vessels in our fleet.The company said it had a loss of 7 cents per share. Earnings, adjusted for non-recurring costs, were 4 cents per share.
Middle East Oil & Gas Shipping Routes are at Risk
Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen's Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world's top oil exporting region.Iran, in its row with the United States over sanctions, has also threatened to block the Strait of Hormuz, the other major strategic shipping route for oil from the region and the main route for Iranian crude exports.Below are facts about region's shipping routes:Bab al-MandebAny move to block the Bab al-Mandeb…
Flex LNG Steers Away From Floating Units as Challenges Emerge
Flex LNG, a liquefied natural gas shipping company and part of the nautical empire of Norwegian billionaire John Fredriksen, has dropped its interest in operating floating regasification units due to project failures and low returns. Floating Storage Regasification Units (FSRUs) have been lauded by analysts as transformative for the LNG industry by opening up emerging markets to supplies as the vessels are cheaper to build than the onshore infrastructure normally needed to receive the super-cooled gas that is transported by ship.
Four Firms Could Tender for Egypt's Regasification Needs
Four international firms expressed interest in Egypt's tender to lease a third regasification unit, an Egyptian official told Reuters on Wednesday. The firms include Norway's Hoegh, US firm Excelerate Energy and Singapore-based Norwegian gas shipping company BW Gas. Egypt's EGAS has launched a tender to lease a third floating and storage regasification unit (FSRU) with a capacity of 750 million cubic feet per day, an official told Reuters on June 29. Reporting by Ehab Farouk
Golar LNG Names Smith as CEO
Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive, as the natural gas shipping company realigns operations, including building up its presence in the Brazilian power generation market. The company said on Tuesday it was in talks with a private equity firm for investments in Golar Power, its unit that holds an interest in a 1.5 gigawatt power station in Sergipe, Brazil. Spieler, who was Golar LNG's chief executive between July 2009 and June 2011, was responsible for the company's first floating liquefied natural gas project.
BOURBON Invests Heavily in Gas Sector
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in ethane transportation, with a market share greater than 50% in a market expected to have strong growth. - 100% of Greenship Gas Manager Pte. - 80% of JHW Engineering & Contracting limited.
Excelerate Energy Reduces Size of its LNG Trading Desk
U.S. gas shipping company Excelerate Energy has laid off six staff on its global liquefied natural gas (LNG) trading desk as part of a reorganisation, a spokeswoman at the company said on Friday. Texas-based Excelerate said the commercial trading and chartering team was being downsized, but the company would continue to be active in those areas. Founded by Oklahoma billionaire George Kaiser, Excelerate currently owns the world's largest fleet of floating LNG import terminals, with a total of nine floating storage and regasification units (FSRUs).
UAE Plans Floating LNG Import Terminal
State-owned Abu Dhabi National Oil Co. (ADNOC) plans to start a new liquefied natural gas floating import terminal (FSRU) in the second half of this year, three LNG industry sources said. The floating import terminal is being supplied by U.S. gas shipping company Excelerate Energy, the sources said. Both ADNOC and Excelerate Energy did not respond to requests for comment. One of the sources said the terminal's import capacity will be about 1 million tonnes per annum. The UAE already imports LNG via a floating terminal supplied by Excelerate Energy off the coast of Dubai.
Turkey Spurred on to Wean Itself Off Russian Gas
Turkey is expected to step up efforts to diversify its supplies of liquefied natural gas (LNG) with the addition of new import terminals to lessen its reliance on gas from Russia, with floating terminals likely to be the speediest solution. Russia is Turkey's top gas supplier but their growing estrangement over the Syrian conflict is souring trade relations and threatening to reshape commodity flows. Russia imposed sanctions on some Turkish goods after Turkey shot down a Russian SU-24 bomber plane on Nov.
First US Shale Gas Exports to Sail into Oversupplied Market
When Cheniere Energy opened a new liquefied natural gas import terminal in Louisiana in 2008, a U.S. shale drilling boom quickly made it obsolete. Seven years on, with the Houston-based firm about to open a landmark export plant on the same site, the timing, again, is far from ideal. A Reuters analysis shows that a slump in oil prices and global abundance of LNG threaten to undercut the economics of U.S. gas exports, crimp shippers' profits and possibly reduce demand for facilities such as Cheniere's $12 billion Sabine Pass plant, the first to send U.S. shale gas worldwide.
Zohr Discovery Could end Egypt LNG Imports
Egypt hopes to stop importing LNG by 2020; Zohr has potential 30 trillion cubic feet (tcf) of gas. The huge Zohr natural gas field discovered by Eni off the coast of Egypt, could tip the country back into exporting liquefied natural gas (LNG), making the bright spot of demand it has created in an oversupplied global gas market short-lived. Once an energy exporter, declining oil and gas production and increasing consumption had turned Egypt into a net energy importer, but the discovery of the largest gas fields ever found in the Mediterranean could reverse this.
BW Gas Floating LNG Terminal Arrives in Egypt
A second liquefied natural gas (LNG) import terminal arrived in Egypt without cargo on Wednesday and will start operating in the third week of October, state gas board EGAS head Khaled Abdel Badie told Reuters. The floating storage and regasification unit (FSRU) provided by Singapore-based Norwegian gas shipping company BW Gas will allow Egypt to import LNG and reconvert it to natural gas to feed into the energy-starved country's power grid. Reporting by Abdelrahman Adel
Egypt Seeks LNG Cargoes via Jordan
Egypt is seeking liquefied natural gas (LNG) via Jordan, three traders told Reuters on Friday, as the two neighbours bolster LNG imports following their recent installation of floating storage and regasification units (FSRUs). State-owned gas company EGAS is seeking four LNG cargoes for delivery to Jordan's Aqaba gas terminal which will then be piped to Egypt, the traders said. EGAS has approached existing suppliers for two cargoes to be delivered in September and two in October, the traders said.
Asian LNG Spot Prices Firm
Asian liquefied natural gas (LNG) spot prices for September delivery were firm this week, supported by supply issues in Nigeria after a pipeline leak, though surplus global supplies helped ease concerns. The price of Asian spot cargoes held steady at around $8.00 per million British thermal units (mmBtu), from $7.95/mmBtu last week. Shell confirmed on Thursday that it had declared force majeure on gas supplies to Nigeria's LNG export terminal on Bonny Island in Rivers State due to a pipeline leak.
Meridian Project Getting Hoegh FSRU, Vessels
Norwegian natural gas shipping firm Hoegh LNG plans to deliver a floating storage and regasification unit (FSRU) to Meridian LNG's planned British import terminal, Hoegh CEO Sveinung Stoehle told Reuters on Friday. E.ON Global Commodities, the trading arm of German utility E.ON, on Thursday signed a deal to buy up to two million tonnes of regasified LNG per year from Meridian, with a final investment decision expected by mid-2016. Hoegh said it will also deliver two or three LNG transport vessels to the project. Hoegh shares were up 5.2 percent as of 0851 GMT.
Change in CEO at Golar LNG
Golar LNG Limited today announced that Doug Arnell has decided to step down as CEO of Golar on February 1, 2015. Mr. Arnell's decision is driven by a personal wish to return with his family to his home country of Canada. Mr. Arnell will be succeeded by Gary Smith, who is well known to Golar and who brings with him a track record of leadership and operational management success in the mid-stream oil and gas, shipping and LNG businesses. Mr. Smith's career spans 35 years, including…
Smith Named CEO of Golar LNG
Gary Smith will take over as CEO of Golar LNG limited, taking over for Doug Arnell, who will step down on February 1, 2015. Smith brings a track record of leadership and operational management in the mid-stream oil and gas, shipping and LNG businesses. His career spans 35 years, including 25 years with Shell and Caltex Australia (a Chevron affiliate) in roles including General Manager LNG Shipping for Shell (STASCO) and General Manager Refining, Supply and Distribution for Caltex Australia.
EmiratesLNG to Start Operations Mid-2018
EmiratesLNG, a joint venture between UAE state-controlled International Petroleum Investment Co (IPIC) and Mubadala Petroleum, will start output from a yet-to-be-built liquefied natural gas (LNG) import facility by mid-2018. "It's a strategic project for this country and we are moving forward with it," Musabbeh al-Kaabi, chief executive officer of Mubadala Petroleum, told reporters on the sidelines of an energy event in Abu Dhabi. The results of a tender to build the facility, which will be located at the busy oil port of Fujairah, will be announced in early 2015.
