Monday, December 23, 2024

The Terminal News

Germany's Wilhelmshaven Terminal offers May LNG Capacity

A Wilhelmshaven LNG Terminal (c) HansPeter Adobestock

Deutsche Energy Terminal (DET) said on Thursday that Germany's Wilhelmshaven liquefied natural gas terminal intends to market capacity for ships to discharge LNG in May 2025, adding that there would be limited slots available in the first quarter there and at another location.DET has been commissioned by Berlin since the height of Europe's…

DET: Germany's Wilhelmshaven Liquefied natural gas terminal will not operate in Q1

According to its operator, the government-owned Wilhelmshaven terminal in Germany, which was built to address Europe's energy shortage, will not be able to receive any LNG deliveries until at least the first quarter 2025. In a market announcement, Deutsche Energy Terminal GmbH said that there would be no regasification activities at the terminal from Jan. 5, 2025 to April 1, 2025.

Poten & Partners addresses Rising LNG Terminal Costs

(c) Mike Mareen / Adobestock

Rising costs of building and equipping new U.S. liquefied natural gas plants will reduce the competitiveness of U.S. gas exports, LNG analysts at Poten & Partners predicted on Tuesday.The Biden administration's export permitting pause likely will keep global LNG prices higher for longer, and benefit existing exporters, Poten said at its Global LNG Outlook conference.Jason Feer…

LNG traders divert cargoes to Asia from Europe as demand in the east increases

Analysts and shipping data indicate that three LNG cargoes bound for Europe were diverted to Asia in order to meet the stronger Asian demand, and because gas prices have decreased in Europe. The rapid change of course shows the agility of the trading firms to send LNG supplies either to Europe or Asia. As Asian prices rise, the arbitrage window for sending U.S. and African Liquefied Natural Gas to Asia opens.

Jordan Signs Deal to Use Egyptian FSRU Until 2026, Ministry Says

Jordan's Energy Ministry announced on Monday that Egypt and Jordan had signed an agreement allowing Jordan to use a floating storage and regasification Unit (FSRU) from Egypt until 2026. The FSRU is helping Jordan to secure liquefied gas supplies for emergencies before the completion of Aqaba LNG Import Terminal scheduled for the fourth quarter 2026. Jordan will receive around 350 millions cubic feet of FSRU per day.

Philippines communities challenge dash for fossil gas

The government claims that LNG is an alternative to coal, and the capacity to generate it is required to meet the energy demands of Luzon Island, which is also home to Manila, the capital city, located 110 km (68 mi) north. Many people in Santa Clara, an area adjacent to the port's terminal, claim that respiratory illness has increased dramatically, even among children as young five years old.

Germany Preps for More FSRU Vessels

Copyright Timon/AdobeStock

Germany is expanding its natural gas import options to replace Russian supply. Following are updates on key facilities and terminals being developed to host floating storage regasification units (FSRUs) to receive seaborne liquefied natural gas (LNG). Plans also include shore-based regasification terminals and facilities to import and…

Industry says that the US dependence on Canadian oil should discourage Trump tariffs

Canada's oil industry doesn't expect tariffs to be included in the protectionist measures proposed by Donald Trump, U.S. president-elect. This is because U.S. refineries depend on Canadian barrels. Some Canadian oil industry players saw Trump's victory as a positive, which would encourage energy investment in North America. It could also boost the value of U.S. dollar that Canadian producers get for their crude.

Bangladesh is looking for potential LNG suppliers as part of a new enlistment procedure

Bangladesh has invited companies to sign up for a contract that will supply liquefied gas on a temporary basis. On Sunday, Rupantarita Prakritik Gas Company Ltd. (RPGCL), an entity of Petrobangla owned by the state, posted a call for enlistment to its website. The application deadline is December 1. Bangladesh has 23 companies on its shortlist from which to choose LNG suppliers for the spot tendering process.

Sources say that PetroVietnam Gas is looking for LNG supplies to be delivered in December and January.

PetroVietnam Gas has requested a partial shipment of LNG for delivery in December or early January. The tender, which closes Tuesday, is for 2,500,000 million British Thermal Units (mmBtu), of LNG to deliver to the Thi-Vai terminal between December 20 and January 5. One source said that PetroVietnam Gas was seeking partial cargoes to commission Nhon Trach 3, 4 and 5 power plants.

Three Industrial Projects for Le Havre Announced

Le Havre Box Quay (c) Sissoupitch / Adobestock

The French government has selected winning proposals for a hydrogen import terminal, a renewable fuels facility and a lithium production factory to be built at the state-run port of Le Havre as part of an effort to attract industrial investment, the finance ministry said on Thursday.The land around the port was labelled a turnkey investment site under the 30 billion euro "France 2030" plan…

MPLX's earnings for the third quarter increase as pipeline throughputs rise

The U.S. midstream firm MPLX announced a higher net profit for the third quarter 2024 compared to the previous year on Tuesday, as it transported more energy products via its pipeline system. The adjusted earnings before taxes, depreciation, and amortization (EBITDA), were $1.7 billion, compared to $1.6 billion at the same period a year earlier.

Vopak lowers its profit forecast for 2024 on the basis of sustained demand

Vopak, a Dutch tank storage company, raised its core profit forecast for 2024 on Wednesday following the release of its third-quarter results that were slightly better than analysts' expectations. The Rotterdam based company now expects earnings before interest, taxes, depreciation, and amortization (EBITDA), in 2024, to be between 930 and 950 millions euros…

Palm prices fall as India rejects premium prices and funds drive the market

Malaysian palm futures declined on Friday, but were still on track to have their best week in over 16 months. India pulled back from purchasing due to a growing premium for soft oils. Fund positions are driving the current prices. During the midday break, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for delivery in January fell 16 ringgit or 0.35% to 4,587 Ringgit per metric ton.

AG&P LNG acquires Australia's Venice Energy and develops South Australian import terminal

The Singapore-based Atlantic, Gulf and Pacific LNG (AG&P LNG) has agreed to acquire the Australian energy infrastructure developer Venice Energy and build its Outer Harbor Import Terminal in South Australia. AG&P LNG aims to have the LNG import terminal at Port Adelaide operational by the first quarter 2027. This was stated in a Thursday statement.

Drill, baby, drill in Argentina's Vaca Muerta shale lands!

Argentina's new, market-friendly government, and concerns about oil supplies from the Middle East, and elsewhere, are driving a boom in drilling and production in the Patagonian South, which is home to the giant Vaca Muerta shale, Spanish for "Dead Cow". In the flat, arid terrain, the production of shale oil and gas is surging. Fracking wells have been drilled in record numbers…

Nigeria approves Exxon Seplat after two years

Nigeria has approved the sale to Seplat Energy of Exxon Mobil Corp.'s onshore assets, said the chief executive of the country's Upstream regulator on Monday. This comes more than two years since the original $1.28 billion agreement.Since it was announced in February 20, 2022, the sale has been scrutinized as it awaits regulatory approval.Bola Tinubu…

Sources say that India's HPCL will start a LNG terminal by the end of the year and seeks a long-term supply.

Three sources claim that India's Hindustan Petroleum Corp. (HPCL) has been in discussions with eight to nine companies about a long-term LNG supply. HPCL built the sixth LNG import terminal in India at Chhara, located in western India. New Delhi is trying to increase the use of cleaner fuels. It was the bad weather that prevented the company from commissioning the plant earlier this year.

Voters in British Columbia's provincial election are focused on affordability and healthcare.

British Columbia, Canada's most western province, is preparing to elect its provincial government on October 19. Polls indicate that the incumbent New Democratic Party holds a narrow lead over the main rival Conservative Party. The provincial elections will be closely watched for clues as to how Canadians might vote at the federal election that is due to occur within the next 12 months…

Sources: At least 18 injured by fire at Venezuelan La Salina oil terminal

Sources familiar with the operations of Venezuela's La Salina Oil Terminal said that at least 18 people, including workers, neighbours and firefighters, were reported injured by a fire in a crude oil storage tank. The fire started early on in the morning during a thunderstorm and raged through the afternoon. The facility is near Cabimas…