KN Bags $148Mn Loan for its LNG Terminal
The Nordic Investment Bank (NIB) and Lithuanian liquefied natural gas (LNG) and oil terminal operator AB 'Klaipedos Nafta' (KN) have signed a EUR 134.1 million (USD 148 million) loan agreement to optimize costs of LNG terminal.The 25-year maturity loan will be directed to finance the rent payable for the Floating Storage and Regasification Unit (FSRU).“Through this loan agreement we are continuing to support Lithuania´s security of energy supply, a strategically important objective for our member country”, said Henrik Normann, NIB President & CEO.Currently…
US Crude Exports Expected to Double by 2022
The U.S. could see its crude oil exports nearly double by 2022, according to energy research firm Rystad Energy. US crude exports could grow from current levels of 2.9 million barrels per day (bpd) to nearly 6 million bpd by 2022.With US production expected to increase by 1.2 million bpd year-over-year (y/y) in 2020, and with domestic refineries already maxing out capacity to absorb shale growth, Rystad Energy expects exports to balloon and reach 4.7 million bpd by the end of 2020 and nearly 6 million bpd by the end of 2022.“Crude exports will grow on the back of new infrastructure coming online in Corpus Christi…
Nakilat, Höegh LNG Ink MoU on FSRU project
Nakilat signed a Memorandum of Understanding (MoU) with Höegh LNG, exploring collaboration for Floating Storage and Regasification Unit (FSRU) business as part of its diversification strategy for opportunities and solutions to delivering LNG to the global markets, with FSRU being a leading-edge technology for the liquefied natural gas (LNG) market. Essentially a floating LNG import terminal, this technology has become a strategic solution for countries without LNG receiving terminal infrastructure, enabling better accessibility of clean energy. “Nakilat views this strategic alliance with Höegh LNG, as a huge stepping stone for further growth," said Nakilat’s Managing Director Eng.
Skangas, Statoil Pact for LNG Reload at Klaipeda
Skangas signed an agreement with Statoil, the Norwegian oil and gas company, for a small-scale LNG reload to take place at the Klaipeda LNG Terminal in Lithuania. The reload will take place early January 2017. This will be the first reload conducted at the terminal and it is the first time Skangas source LNG from Statoil. Skangas eyes this a natural next step to further increase the support for the development of the small-scale market in Northern Europe. Adding this Terminal increases possibilities and competition, which also gives security of supply and all parties’ better opportunities.
Petrobras, Total ink Strategic Alliance Deal
Petrobras signed a Master Agreement with French outfit Total today related to the strategic collaboration set forth in the memorandum of understanding signed on October 24 by our CEO Pedro Parente and Total CEO Patrick Pouyanné. Under the new agreement, Petrobras will substantially increase the level of technological cooperation in the fields of geosciences, subsea systems, and in joint studies in areas of mutual interest with a view to reducing the risks of investments and increasing the likelihood of exploration success in the coming years. Besides it will also be partners in the Iara and Lapa fields…
Skangas, Statoil Ink LNG Reload Deal
Skangas signed an agreement with Statoil, the Norwegian oil and gas company, for a small-scale LNG reload to take place at the Klaipeda LNG Terminal in Lithuania. The reload will take place early January 2017. This will be the first reload conducted at the terminal and it is the first time Skangas source LNG from Statoil. Skangas eyes this a natural next step to further increase the support for the development of the small-scale market in Northern Europe. Adding this Terminal increases possibilities and competition, which also gives security of supply and all parties’ better opportunities.
BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract
BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development of the LNG storage and regasification facility, a part of the Ghana 1000 Gas to Power Project and Africa’s first LNG import terminal. Endeavour is co-leading development with General Electric, Eranove and local partners Sage Petroleum with the aim of providing the Ghanian government with Sub Saharan Africa’s largest power park, providing more than 1000MW to the national grid once completed. Excelerate Energy is providing assistance in siting the floating LNG terminal infrastructure…
Extra-long Frac Sand Train Lands into Eagle Ford Shale
Twin Eagle Sand Logistics, LLC, a subsidiary of Twin Eagle Resource Management, LLC, has landed its first 130 car frac sand unit train at Mission Rail in Elmendorf, Texas, which is in the heart of the Eagle Ford Shale. The extra-long unit train is one of the largest frac sand trains ever to land in the Eagle Ford shale. The train was off-loaded into Twin Eagle's new 60 million pound frac sand silo system, which is also one of the largest in the country. The silo system is scaled to house up to 300 railcars worth of frac sand and can load a truck in less than two minutes. Twin Eagle is one of the largest independent frac sand terminal developers and operators in the country.
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, which is making big strides in the LNG Regasification sector, and recently received on the of the world’s largest and most capable units, the FSRU Experience which he touts as the world’s largest and most capable FSRU. For those of our readers not familiar, please describe the business of Excelerate Energy.
