Vopak's profits are unlikely to change much by 2025 as one-offs have a negative impact on the 4th quarter results
Dutch tank storage company Vopak said that it expects to see little difference in its earnings by 2025, despite the fact that strong demand for energy-storage infrastructure is boosting its results. Analysts cited a missed quarterly core profit and a cautious outlook as the reason for the 7% drop in shares of…
Vopak's earnings exceeded its guidance range
The Dutch tank storage company Vopak announced Wednesday that its core earnings for 2024 were above the previously-guided range, due to strong demand across its various business units. The proportional earnings before taxes, depreciation, and amortization (EBITDA), which is the measure of profit before all other costs…
Venture Global rises after brokerages begin coverage with bullish rating
Venture Global shares reached a weekly peak on February 18th, after several brokerages began coverage of the company with bullish ratings despite its dull market debut in January. Venture Global shares rose 5.8% to $16.87. On January 24, the liquefied gas (LNG), provider started trading at New York Stock Exchange for $24.05 per stock, valuing the company as the largest gas exporter.
Prices for gas in Europe are mixed due to lower Norwegian supplies and high inventories
The wholesale prices of the Netherlands and Britain were mixed Thursday morning, as maintenance in Norway curtailed supply but high levels of storage weighed on market. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub was down 0.07 euros at 39.43 Euro per megawatt hour (12.54/mmbtu) at 0818 GMT.
Germany Offered to Build LNG Terminals to Avert US Pipeline Sanctions
Berlin offered to spend 1 billion euros ($1.2 billion) to build two liquid natural gas terminals in a bid to dissuade the United States from imposing sanctions over the Nord Stream 2 pipeline, due to bring gas directly from Russia to Germany, Die Zeit reported on Wednesday.The weekly paper said Finance Minister Olaf Scholz made the proposal in an Aug.
BV Appoves Cryo-Powered Regas System Design
Bureau Veritas Marine & Offshore (BV) has issued the first approval in principle for a new cold energy ‘Cryo-Powered’ regas system for use in FSRU applications.The approval has been issued to both Mitsui O.S.K. Lines, Ltd. (MOL) and Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME). The ‘Cryo-Powered…
Costain Reports Contract Wins
Infrastructure solutions company Costain aid it has secured some £4 million ($5.1 million) worth of design, engineering and consultancy contracts for the energy market which will see the Group shaping the future for sustainable operations and improved efficiencies at several UK onshore gas terminals.The contract…
Klaipeda LNG in Full Capacity
Lithuania's liquefied natural gas (LNG) terminal Klaipėdos Nafta (KN) said that its terminal capacities are now fully booked for the rest of the Gas Year, following the favorable situation in the international gas markets that has been determining the highest operative efficiency of the LNG terminal since the…
BP Invests $6 Bln in Offshore Azerbaijan Project
The British multinational oil and gas company BP and its partners will lead a $6 billion development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oil-field complex offshore Azerbaijan.The supermajor said that the Azeri Central East (ACE) project includes a new offshore platform and facilities designed to process up to 100,000 barrels of oil per day.
New U.S. LNG Projects, Enough to Double Exports, on Verge of Launch
New U.S. liquefied natural gas terminals with enough capacity to double U.S. exports have either begun commissioning their facilities or are waiting for approval from the energy regulator, a review of their documents showed this week.Although long planned, the actual commissioning of plants has been a moving…
Bureau Veritas Issues New FSRU Guidelines
Bureau Veritas has issued new and updated notations and guidance to support the construction and operation of both Floating Storage and Regasification Units (FSRUs) and Floating Storage Units (FSUs).Interest in FSRUs and FSUs is growing as floating gas terminals offer operational flexibility, reduced timescales…
Spanish LNG Cargoes Set for Export from Gas Terminals
The following table lists liquefied natural gas (LNG) cargoes set to be loaded on tankers for onward export.Spain is Europe's most diversified gas importer and has the continent's biggest LNG import capacity spread across its six terminals, sourcing LNG from Qatar, Nigeria, Trinidad, Algeria and other producers.Imported cargoes are stored in tanks located at terminals, where the LNG
Briggs Marine Secures BP Contract in Caspian Sea
Briggs Marine, a UK marine contractor, has boosted its global growth plans following a three-year contract award from BP Exploration, worth over $4 million. The project, based in Azerbaijan, will see Briggs Marine delivering fire and rescue services at Sangachal Terminal - one of the world’s largest oil and…
ENI, Anadarko to Build LNG Terminals in Mozambique
Italy's ENI and U.S. oil and gas firm Anadarko signed agreements with the Mozambique government on Thursday to build two liquefied natural gas terminals in the southern African country. The terminals will be built in Cabo Delgado province, where Mozambique has made massive gas discoveries that could transform it from a poor African country into a major energy supplier to Asia.
Centrica to Raise Morecambe Bay Gas Production
British utility Centrica will spend 60 million pounds ($77 million) to unlock an extra natural gas reserves from fields under the East Irish Sea, it said on Wednesday, helping to ease a potential shortage next winter. The project to produce the extra three billion cubic feet (bcf) will simplify the process to…
China's Crude Output to Dip 7 pct by 2020
Govt plans 4 mln bpd crude output for 2020, vs analyst's 3.5-3.6 mln bpd. China's crude oil output is expected to drop by 7 percent by 2020 compared with the previous five-year plan as output from some of the nation's largest, but oldest, wells falls, while natural gas supplies will rocket by almost two-thirds.
Tianjin Resumes Commodity Port Ops
Oil, gas and iron ore imports resume after disruptions; Strategic oil reserves in the region not affected. Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil, gas and bulk import harbour for Asia's biggest economy. The explosions on Aug.
British Columbia Bans Transport of Oil in Pipelines Built for LNG
British Columbia has banned the transport of oil on pipelines built specifically for proposed liquefied natural gas terminals, in an effort to quell fears that those lines could eventually be converted to carry oil sands crude to coastal markets. The regulation covers six proposed pipelines, which would all…
Excelerate Energy & the Year of LNG
This being the “Yearbook” edition of Maritime Reporter & Engineering News, it would be remiss to not have coverage of LNG, one of the hottest fueling trends in maritime circles, particularly in North America. For a unique insight on a rapidly evolving market, MR caught up with Edward Scott, COO, Excelerate Energy…
U.S. Ready to Help Hungary Build Energy Independence
The United States is willing to help Hungary and other European countries build energy infrastructure to reduce its dependence on Russian oil and gas, U.S. Chargé d'Affaires in Budapest André Goodfriend has told Nepszava newspaper. "Relying on Russian sources threatens energy independence," Goodfriend told Nepszava in an interview published on Saturday.
