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This week


NORWAY’S LICENCE ROUND OPENS
WAY FOR MORE ENERGY SECURITY

European major and LNG producer and pipeline gas supplier Equinor has been
awarded 39 new production licences on the Norwegian Continental Shelf as the
company pledges to find more essential oil and gas for its neighbours through
2050.


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Latest News

Tuesday, 23 January 2024


JAPANESE LNG PLAYERS INPEX, TOKYO GAS AND OSAKA GAS JOIN E-METHANE STUDY WITH
LARGEST CLEAN ENERGY GROUP IN UAE

Inpex Corp., the Japanese liquefied natural gas producer and project developer,
has joined with LNG importers Tokyo Gas and Osaka Gas to conduct a joint study
on…







Tuesday, 23 January 2024


AUSTRALIAN COMPANY BACKED BY AFRICAN LNG NATION ANGOLA HAS INCREASING SUCCESS
WITH CUBAN OFFSHORE OIL FIELD

Australian company Melbana Energy, which began production testing in October at
its Alameda oil field offshore the north coast of Cuba, has delivered first oil
from early…








Tuesday, 23 January 2024


US LIQUIDS TERMINALS AND PIPELINES COMPANY NUSTAR ENERGY AGREES TO $7.3BLN
TAKEOVER BY LARGEST FUEL DISTRIBUTOR SUNOCO

Free ReadNuStar Energy, the US liquids terminal and pipelines operator with
9,500 miles of pipeline and 63 terminal and storage facilities, has been
acquired by Sunoco LP, the…







Tuesday, 23 January 2024


VENTURE GLOBAL CONSIDERS CHANGES IN DELTA LNG WITH MORE CAPACITY THAN TWO OTHER
GULF PLANTS UNDER DEVELOPMENT

Venture Global LNG, the owner of the Calcasieu Pass export plant in Louisiana
and with three more facilities planned, is considering some changes in the
fourth on…







Monday, 22 January 2024


BW GROUP CHAIRMAN ANDREAS SOHMEN-PAO LEADS SHUFFLING OF SHARES IN AFFILIATES BW
OFFSHORE AND BW ENERGY

The BW Group of Singapore with LNG and shipping interests and led by Andreas
Sohmen-Pao has shuffled shareholdings by acquiring a bigger stake in BW Energy
with…







Monday, 22 January 2024


LARGEST RUSSIAN LNG PRODUCER NOVATEK REPORTS FIRE DAMAGE AT FUEL PLANT ON BALTIC
COAST CAUSED BY ATTACK

Free ReadA fire apparently caused by a drone attack broke out at a Baltic Sea
fuel terminal in Russia owned by the largest Russian liquefied natural gas
producer…








Monday, 22 January 2024


INDIA’S RELIANCE INDUSTRIES BOOSTS NATURAL GAS TO OFFSET LNG IMPORTS AND GIVES
QUARTERLY GAS PRICES ANALYSIS

India’s Reliance Industries, the group with growing natural gas and oil and
chemicals businesses, reported increased fiscal third-quarter earnings amid
moves to boost the nation’s natural gas…







Monday, 22 January 2024


GASTRADE MOVES ON FLNG START-UP PROJECT WHILE BALKAN GAS GRIDS EXPECT JULY
MARKET CAPACITY ALLOCATION TESTS

A cooperation agreement has been signed between key natural gas infrastructure
owners from Greece, the Balkans and Central Europe including Gastrade, developer
of the Alexandroupolis floating LNG…







Friday, 19 January 2024


EUROPEAN NATURAL GAS AND ASIAN LNG SPOT CARGO PRICES DROP TO NEAR THREE-YEAR
LOWS ON AMPLE SUPPLY

European natural gas and North Asian spot cargo prices declined again towards
levels last seen three years ago as supplies and storage levels were ample
despite colder…







Friday, 19 January 2024


AUSTRALIAN EXPLORER ELIXIR ENERGY IS STILL PROGRESSING WITH CSG-FOR-LNG
EXPECTATIONS IN QUEENSLAND WELLS

Elixir Energy, the Australian exploration and production company with coal-seam
gas interests in the Gobi Basin of Mongolia, is also making progress with asset
development in the…









MORE...


NORWAY’S EQUINOR AND PARTNERS AWARD CONTRACT FOR ELECTRIFICATION WORK AT
HAMMERFEST LNG PLANT TO LOCAL COMPANY




INDIAN LNG IMPORTS JUMP 14.3 PERCENT FOR CURRENT FISCAL YEAR TO DECEMBER AS
PRICES DROP AND DEMAND GROWS




ASIAN LNG DEMAND EXPECTED TO RISE EVEN AMID PIPELINE AND COAL COMPETITION AND AS
CHINA SIGNS MORE CONTRACTS




US PIPELINES OPERATOR KINDER MORGAN REPORTS SLIDE IN EARNINGS BUT PROJECTS
ADVANCE FOR LNG FEED-GAS DELIVERY



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Page 1 of 948

latest issue

January 2024



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LNG in 2023: A Retrospective & Outlook

LNG prospered in 2023, according to LNG Journal data, with a shift in Europe’s
gas strategy facilitating a steady undercurrent to strong demand growth in
Southeast Asia. Prospects for 2024 are also positive, some uncertainty on Far
Eastern demand notwithstanding, our Markets Editor Alexander Wilk writes.


Northeast Asia stops short of issuing large buy tenders this winter

Muted gas demand prevails across northeast Asia as comfortable stocks and a mild
winter make buyers abstain from issuing large tenders for balance-of-winter and
avoid calls for US spot cargoes, for now. But with JKM prices forecast to
average $11.98/MMBtu in the first quarter of 2024 – just below oil-linked term
gas supply – some private firms may seek to buy spot LNG rather than relying on
their domestic suppliers. Our Markets Editor Anja Karl has more.


December trade buoyant on higher US, Australian and Qatari exports

Our December data showed significant LNG trade growth globally although exports
were broadly flat year-on-year. Meanwhile, demand also saw a net increase on
account of a few select demand centres, our Market Editor Alexander Wilk
reports.


Exploiting LNG’s cold energy potential

Exergy International, an Italian-based engineering company, is leveraging the
LNG regasification process’ cold energy potential. Technical Editor Ian Cochran
reports.


Problems with South Korea’s new cargo containment system ends up in arbitration

Last month, the London Maritime Arbitration Association (LMAA) ordered Samsung
Heavy Industries (SHI) to pay $290 mill in compensation to SK Shipping for
defects found in two LNGCs built by the South Korean shipbuilder. Technical
Editor Ian Cochran has more.


Equipment suppliers cash in on booming LNG market

Several announcements were made just before the holiday break involving major
technology contracts and agreements. Ian Cochran reports


Data-driven monitoring drives LNG bunkering efficiency

In a world increasingly fuelled by data, the bunkering sector has at times been
slow to change however innovation is now charting a course toward real-time
analytics that could revolutionize vessel performance and efficiency. While
price and availability of fuel have traditionally dominated decision-making, the
LNG sector is undergoing a transformation as new technologies provide deeper
insights. Fuelling Editor Malcolm Ramsay has more.


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ATLAS COPCO



NEWS IN BRIEF

Brent Crude (bbl) Spot Price: $80.40 DATE: 23 Jan




UK CARGO SCHEDULE

Jan 23 (LNGJ) - The UK is receiving a steady flow of LNG cargoes with two
arriving over the next week and one already scheduled for February. The “BW
Lilac” with 174,300 of capacity is due to discharge a US shipment at the South
Hook terminal in Milford Haven on January 26, according to shipping data. The
cargo was lifted on January 15 from the Cove Point export plant in Maryland.

   The vessel “SM Golden Eagle” with 174,000 cubic metres of capacity is due to
arrive at the Dragon LNG terminal at Milford Haven on January 28 carrying a
shipment from the Peruvian export plant at Pampa Melchorita. The shipment was
loaded on December 24 at the Peruvian Pacific Coast plant. The “Gaslog
Georgetown” carrier with 174,260 cubic metres of capacity is scheduled to arrive
at the UK South Hook facility on February 1 with a shipment from the Calcasieu
Pass plant in Louisiana lifted on January 19.


US-RUSSIA CARGOES

Jan 22 (LNG) - US and Russian cargoes are scheduled for delivery to European LNG
import terminals in the coming week with the Dutch Title Transfer Facility
day-ahead spot price on the European Energy Exchange on January 22 decreasing to
the equivalent of $8.955 per million British thermal units from $9.109 per MMBtu
at the end of last week.

   The “Christophe De Margerie” with 172,600 cubic metres capacity is scheduled
to deliver a Russian cargo on January 24 to the Zeebrugge terminal in Belgium,
according to shipping data. The cargo was lifted on January 17 from the Yamal
plant in northern Siberia. Germany is scheduled to receive a US cargo on January
29 at the import terminal at Brunsbüttel on the Elbe. The cargo will be
delivered by the “Elisa Aquila” vessel with 170,500 cubic metres capacity. The
volumes were loaded on January 14 at the Cameron plant in Louisiana.


TEXAS LNG FOR UK

Jan 19 (LNGJ) – Two more LNG carriers are heading for the UK early next week.
The vessel “Kunlun” with 170,520 cubic metres capacity is scheduled to discharge
a US cargo on January 22 at the South Hook terminal in the Port of Milford Haven
in Wales, according to shipping data. The shipment was loaded on January 11 at
the Corpus Christi plant in Texas. The “Celsius Canberra” vessel with 180,000
cubic metres capacity is due to berth on January 24 at the South Hook terminal
after previously departing on January 6 from the Corpus Christi plant.


EQT NOTES OFFERING

Jan 18 (LNGJ) - EQT Corp., the leading US natural gas producer in the Appalachia
Shale basins, said it priced an underwritten public offering of $750 million of
its 5.750 percent senior notes due in 2034. EQT’s offering will close on January
19 subject to the satisfaction of customary closing conditions. “EQT expects to
use the net proceeds from the offering to repay a portion of the borrowings
under its term-loan facility incurred in connection with its acquisition of Tug
Hill and XcL Midstream,” the company said.

   EQT, based in Pittsburgh and with shale-gas operations in the Marcellus and
Utica formations of western Pennsylvania, Ohio and West Virginia said the joint
book-running managers and underwriters for the notes offering included J.P.
Morgan Securities, MUFG Securities Americas Inc., TD Securities (USA) and Wells
Fargo Securities.


BP GERMAN MOVE

Jan 17 (LNGJ) - BP has acquired a privately-owned power and gas supplier to
commercial and industrial customers called Getec Energie GmbH with operations in
Germany, the Netherlands, Austria, Belgium and Poland. It has an extensive
German customer base, supplying power and gas as well as renewable power
purchase agreements (PPAs) and balancing services. The cost of the transaction
was not disclosed.

   The acquired company is based in the city of Hanover in the German state of
Lower Saxony and currently supplies more than 40 terawatt hours of power and gas
each year, making it one of Germany’s largest independent suppliers in the
commercial sector. “As we continue to deliver our strategy, it’s essential that
we can connect and integrate the energy solutions we offer customers across BP,”
said Carol Howle, BP Executive Vice President of the Trading and Shipping
division. “The addition of Getec Energie will expand and enhance our ability to
do just that in Germany and ultimately in Europe,” Howle added.


THREE CARGOES FOR UK

Jan 16 (LNGJ) – While the UK will face some delay in receiving more LNG supplies
from Qatar the two import terminals at the port of Milford Haven, South Hook LNG
and Dragon LNG, are scheduled to receive cargoes in the days ahead from Angola,
Egypt and Cove Point in the US state of Maryland. The carrier “Lobita” with
154,950 cubic metres capacity is due to berth on January 18 at the Dragon
facility at the Welsh port, according to shipping data. The cargo was lifted on
January 6 from Angola’s Soyo export plant.

   The “Huleva Knutsen” with 170,250 cubic metres capacity is then due to
discharge a shipment on January 20 at the Dragon facility. The cargo was loaded
on Janaury 7 at the Egyptian Idku plant located east of Alexandria. The third
delivery will be on January 22 to the South Hook terminal from the US plant at
Cove Point. The “Global Sea Spirit” with capacity of 170,800 cubic metres
capacity lifted the cargo on January 7.


DUTCH TTF CHANGES

Jan 15 (LNGJ) – A steady stream of LNG carriers was heading for the Netherlands
this week as the Dutch Title Transfer Facility (TTF) benchmark prices showed
falling front-month futures being overtaken by the spot price on the European
Energy Exchange. The front-month TTF for February was last at the equivalent of
$10.130 million British thermal units while the TTF on the day-ahead spot market
on January 15 was at $10.273 per MMBtu.

   The vessels heading for the Dutch terminals, the Gate facility in Rotterdam
and the Eemshaven terminal in Groningen, included the “Maran Gas Ithaca”,
according to shipping data. That ship  with 170,500 cubic metres capacity was
scheduled to deliver a shipment from the Calcasieu Pass plant in Louisiana on
January 17 and lifted on December 30, 2023. The “Kool Baltic” with 170,200 of
capacity was due to discharge a cargo at Eemshaven on January 18 that was loaded
in Trinidad in the Caribbean on January 3. Another vessel heading for the
Rotterdam terminal was the “Global Star”, due to berth on January 20. The ship
with 173,400 cubic metres capacity loaded its cargo on January 7 at the Sabine
Pass plant in Louisiana. Two other ships heading for the Gate terminal with US
cargoes are the “Lech Kaczynski” and the “LNG Rosenrot”.


EQT TOLLING DEAL

Jan 12 (LNGJ) - Texas LNG Brownsville, a subsidiary of Glenfarne Energy
Transition, has signed a Heads of Agreement with US shale-gas company EQT Corp.
for natural gas liquefaction services. The HOA anticipates the finalization of a
definitive 15-year LNG tolling agreement for 500,000 tonnes per annum of LNG
from the first Train of the Texas venture. Texas LNG has proposed annual output
of 4 million tonnes per annum from the facility at the Port of Brownsville in
Texas.

   “We are proud to welcome EQT as a customer and partner for Texas LNG, with
our industry-leading low-emissions facility liquefying US natural gas for global
markets,” said Brendan Duval, Glenfarne Chief Executive and Founder. “This is an
important milestone for Texas LNG, with additional agreements to be announced in
the near-term as we progress towards a final investment decision,” Duval added.
Glenfarne is also the owner and developer of the 8.8 MTPA Magnolia LNG project
in Lake Charles, Louisiana.


US CARGOES FOR UK

Jan 11 (LNGJ) - The UK is scheduled to receive at least two US LNG cargoes in
the coming week. The carrier “Tenergy” with 170,500 cubic metres capacity will
deliver a shipment on January 13 to the UK Dragon terminal at the Port of
Milford Haven in Wales, according to shipping data. The cargo was lifted on
December 26 from the Corpus Christi export facility in Texas.

   A second delivery is due on January 15 at the South Hook import terminal at
Milford Haven. The volumes will be discharged on January 15 from the vessel
“Maran Gas Ulysses”, which has capacity of 174,000 cubic metres. The cargo was
loaded on December 31 at the Sabine Pass plant in Louisiana.


NAMIBIA OIL AND GAS

Jan 10 (LNGJ) - TotalEnergies has signed an agreement to acquire bigger stakes
in offshore oil and gas fields in the southwest African nation of Namibia along
with partner and leading LNG produce QatarEnergy. The French major’s deal is
with Impact Oil and Gas Namibia for an additional 10.5 percent participating
interest in block 2913B and an additional 9.39 percent participating interest in
block 2912, both operated by TotalEnergies in Namibia.

   The deals would give TotalEnergies a 45.25 percent interest in block 2913B
containing the Venus discovery and its light oil and associated gas and a 42.5
percent interest in block 2912. The Impact company will retain a 9.5 percent
interest in each licence. “This transaction not only increases our share in the
Venus discovery and remaining prospectivity on these blocks, but also represents
a key step toward the development of Venus by consolidating the partnership and
securing financing,” said Patrick Pouyanné, Chairman and Chief Executive of
TotalEnergies.


TRINIDAD’S US CARGOES

January 9 (LNGJ) - The Norwegian-flagged LNG carrier “BW Boston” with 138,060
cubic metres capacity has just departed from the US Everett LNG import terminal
in Massachusetts after delivering a cargo from Trinidad, the Caribbean nation
that used to be the biggest LNG supplier to the US before it became an exporter
from the Lower 48 States in 2016.

   This was the second LNG cargo delivered from the Caribbean to Everett near
Boston this winter season with the previous shipment being discharged in
December, according to shipping data. The Everett terminal is now owned by US
power company Constellation Energy and is the longest-operating LNG import
facility in the US. It is connected to two interstate pipelines in the Northeast
as well as to the gas utility company’s electric distribution system and the
Mystic gas-fired power plant, which may be shuttered in 2024.


GERMAN LNG DEAL

Jan 8 (LNGJ) - Klaipėdos Nafta, the operator of the LNG import terminal in the
Baltic state of Lithuania, will now become the commercial manager of four German
LNG terminals. “KN Energies AB has kicked off the year 2024 by securing the
public tenders for the commercial management of four German terminals,” said KN
Energies.

   The Lithuanians said that on behalf of the German Federal Ministry for
Economic Affairs and Climate Action, they would operate the existing floating
facility at the German North Sea port of Wilhelmshaven as a well as a planned
second facility. They would also operate the Brunsbüttel terminal on the Elbe
and would additionally be responsible for the planned LNG terminal in the Port
of Stade on the Lower Elbe.


NORTH AMERICA RIGS

Jan 8 (LNGJ) - Baker Hughes said the weekly rig count in the US declined overall
by one to 621. The US Rig Count of 621 comprised 501 oil rigs and two fewer gas
rigs at 118, while miscellaneous rigs were unchanged at two. “The US Rig Count
is down 151 rigs from last year's count of 772 with oil rigs down 117, gas rigs
down 34 and miscellaneous unchanged at two,” said Baker Hughes.

   The US Offshore Rig Count was unchanged at 20, up four year-over-year.
Canada’s Rig Count was up 39 from last week to 125, with oil rigs up 31 to 58
and gas rigs up eight to 67. “Canada’s Rig Count is down 64 from last year's
count of 189 with oil rigs down 55 and gas rigs down nine,” the report added.


CEDAR LNG CONTRACT

Jan 5 (LNGJ) - The Haisla Nation and Pembina Pipeline Corp., equal partners in
the development of the proposed Cedar LNG project in the Douglas Sound near
Kitimat in British Columbia, have selected South Korea’s Samsung Heavy
Industries and US firm Black & Veatch to provide engineering, procurement and
construction for the design, fabrication and delivery of the project's floating
LNG (FLNG) production unit, subject to a final investment decision.

   “This is a critical milestone on our path towards an FID for Cedar LNG, the
first Indigenous majority-owned LNG project in the world,” stated Doug Arnell,
Cedar LNG Chief Executive. “We have secured world-class FLNG expertise and look
forward to working with SHI and Black & Veatch to build an LNG facility with one
of the cleanest environmental profiles in the world that will usher in a new era
of low carbon, sustainable LNG production,” Arnell added. Cedar LNG noted that
it had major regulatory approvals, had signed memoranda of understanding for
long-term liquefaction services for the project's total LNG capacity and
expected an FID in the first quarter 2024.


‘THERE SHE BLOWS!’

Jan 4 (LNGJ) - UK and Norwegian majors BP and Equinor, who are global leaders in
oil and gas and LNG, have reached a deal to end a contract to sell energy from a
planned whale of a project for wind power offshore the state of New York in what
is the latest such venture to be derailed by worsening wind industry economics.
New York’s climate law calls for the state to get 70 percent of its electricity
from renewables by 2030, with a target to install 9 gigawatts of offshore wind
capacity by 2035.

   As part of its plan, the state awarded BP and Equinor contracts to develop
the Empire Wind complex located about 15 miles south of New York’s Long Island,
with 147 turbines set to be spread over 80,000 acres of open sea. The deal just
terminated was signed in 2022. BP and Equinor had agreed to sell renewable
energy credits from the 1,260 megawatts Empire Wind II phase of the project at a
strike price of $107.50 per megawatt-hour. The companies had earlier petitioned
the state utilities regulator to renegotiate the prices of the credits because
of “unforeseeable economic forces”.


WILLIAMS $2BLN NOTES

Jan 3 (LNGJ) - Williams, a leading US natural gas pipelines operator with
projects aimed at boosting feed-gas supplies for Gulf Coast LNG plants, has
priced a public offering of 2.1 billion in Senior Notes, a type of bond that
takes precedence over other debts. The offering of $1.1Bln of its 4.900 percent
Senior Notes due 2029 was at a price of 99.839 percent of par and $1.0 Bln of
its 5.150 percent Senior Notes due in 2034 were priced at 99.975 percent of par.

   “The expected settlement date for the offering is January 5, 2024, subject to
the satisfaction of customary closing conditions,” said Williams, which is based
in Tulsa, Oklahoma. “Williams intends to use the net proceeds of the offering
for general corporate purposes, which may include the repayment of our
outstanding commercial paper notes or other near-term debt maturities,” it
added. The joint book-running managers of the offering were named as Barclays
Capital, Citigroup Global Markets, Truist Securities and Wells Fargo Securities.


QUAKE HITS JAPAN

Jan 2 (LNGJ) - An earthquake with 7.6 magnitude hit Japan on January 1 in the
Noto region of Ishikawa prefecture on Honshu island and killed at least 30
people in collapsed buildings. The Japan Meteorological Agency issued a tsunami
warning for the Noto Peninsula and the advisory covered the coastline of the Sea
of Japan, though was later withdrawn as the danger passed.

   Japan’s Ministry of Economy, Trade and Industry (METI) then said in a
statement that power generation had been affected in the region. “The earthquake
closed two of Hokuriku Electric's coal-fired power plants, the No. 1 unit of 500
megawatts and the No. 2 unit of 700 MW at the Nanao-Ota thermal power plant.
There was also reduced output at the 500 MW gas-fired Toyama-Shinko thermal
power plant of 300 MW,” said the METI.


BRAZIL PIPELINE DEAL

Dec 29 (LNGJ) - Engie Brasil, formerly known as Tractebel Energia and a
Brazilian subsidiary of France-based European utility group Engie, has reached
an agreement to sell a 15 percent stake in natural gas pipeline firm
Transportadora Associada de Gas (TAG) to the Canadian pension fund, Caisse de
dépôt et placement du Québec (CDPQ) for 3.1 billion Brazilian reais (US$640
million). TAG owns and operates a large part of Brazil's natural gas pipeline
network with some 4,500 kilometres (2,800 miles) across 10 Brazilian states.

   The transaction when completed will increase CDPQ’s stake in TAG to 50
percent. Engie Brasil will own 17.5 percent and its French parent company will
hold the rest, giving Engie units a 50 percent shareholding. Engie and CDPQ
jointly acquired a 90 percent stake in TAG in 2019 from Brazil’s state-run
energy company Petrobras for about $8.6Bln and afterwards bought the remaining
10 percent still held by Petrobras.


TELLURIAN STAKE

Dec 28 (LNGJ) - Chatterjee Fund Management (CFM), the private equity firm with
offices in New York, has increased shareholdings in US LNG plant developer
Tellurian Inc. and its proposed Driftwood LNG plant in Louisiana. A filing by
Tellurian with the US Securities and Exchange Commission showed that Chatterjee
raised its stake to 7.3 percent from 5.2 percent previously. Tellurian’s shares
on the American list of the New York Stock Exchange rose by 7.55 percent after
the announcement to $0.95 per share.

   The Chatterjee firm was founded in 1989 by Purnendu Chatterjee, a former
investment adviser to the Quantum Group of Funds and a former partner to
consultants McKinsey & Company Inc. Tellurian said that from late December CFM
acquired 9.84 million shares and a Marshall Islands-registered Chatterjee fund
LVS bought 3.17M shares so that CFM now owns 28.52M shares and LVS has 17.63M
shares. “Therefore, CFM and Dr Chatterjee may be deemed to beneficially own
46.16M shares, which represents approximately 7.3 percent of outstanding
shares,” Tellurian said.


JERA ASIAN CONTRACT

Dec 27 (LNGJ) - JERA Co. Inc, the largest Japanese LNG importer and power
supplier, has concluded an agreement to support the expansion of LNG and
gas-fired power in the Philippines through system designs and tight regulatory
oversight. The agreement was concluded following JERA’s selection as the
contracted party for the oversight project. “The Republic of the Philippines is
expected to expand its adoption of gas-fired thermal power generation due to the
increased demand for electricity accompanying the country’s robust economic
growth,” said JERA

   The Tokyo-based company said its role would include developing national
systems including regulatory frameworks to “support the full-scale adoption of
LNG in the Philippines and support for developing regulations for facilities”
related to the construction, operation and maintenance of LNG storage and
regasification terminals, gas transportation and distribution systems as well as
third-party access.


SEATRIUM DELIVERY

Dec 22 (LNGJ) - Seatrium of Singapore has successfully delivered a floating
storage and regasification unit (FSRU), the “Energos Celsius”, to New York-based
LNG project developer New Fortress Energy (NFE). “The FSRU was completed safely,
on time and within budget and has departed the Seatrium shipyard for Brazil. It
will subsequently be deployed at NFE’s completed LNG terminal in Barcarena in
Brazil’s Pará state,” said Seatrium, formerly called Sembcorp Marine Ltd and
renamed as Seatrium following its merger with Keppel Offshore & Marine.

   The “Energos Celsius” is owned by Energos Infrastructure, a global marine
infrastructure platform backed by the US Apollo fund management firm and NFE.
The vessel is on long-term charter to NFE in Brazil. “We are proud to
successfully deliver the FSRU to New Fortress Energy and look forward to
partnering with them on more projects,” said Marlin Khiew, Executive Vice
President for Oil & Gas (Americas) at Seatrium. “This project marks Seatrium’s
fourth FSRU project for Brazil and it demonstrates our commitment and
reliability in supporting the development and growth of the country’s oil and
gas industry,” Khiew added.


BELGIAN-GERMAN LNG

Dec 21 (LNGJ) – Four cargoes are heading for Belgium and Germany in the next
week from Russia, Qatar, Angola and the US state of Louisiana. The carrier
“Eduard Toll” with 177,000 cubic metres capacity is expected to arrive at the
Belgian LNG import terminal at Zeebrugge with a Russian cargo. The shipment was
lifted on December 19 from the Yamal plant near the port of Sabetta in northern
Siberia, according to shipping data. The Qatari carrier “Al Khor” with 135,295
cubic metres capacity is scheduled to deliver a cargo to Zeebrugge on December
27, lifted from Ras Laffan in the Gulf on December 2.

   The other cargoes are heading for Germany in the next week. The “Sonangol
Sambizanga” with capacity of 160,500 cubic metres is scheduled to discharge a
cargo from Angola on December 24 at the floating terminal in the North Sea port
of Wilhelmshaven. The shipment was lifted on December 8 from the southwest
African nation’s export plant at Soyo. Another vessel heading for Germany is the
“Marvel Falcon” with 174,000 cubic metres capacity. The ship is scheduled to
berth with a US cargo on December 25 at the Brunsbüttel terminal on the Elbe.
The volumes were loaded on December 10 at the Cameron LNG plant in Louisiana.


JAPAN LNG DECLINE

Dec 20 (LNGJ) - Japan’s November LNG imports declined almost 4 percent to 5.33
million tonnes, or 79 cargoes, compared with 5.55MT, or 82 cargoes, in November
2022, the Finance Ministry said in its provisional trade statistic. Most of the
deliveries came from Australia or the spot market and these amounted to 3.03
million tonnes.

   Imports from the US were down more than 50 percent year-on-year to 191,000
tonnes. Deliveries from the Middle East were also lower by more than half at
481,000 tonnes. LNG shipments from Asian export plants to Japanese terminals
increased by 5 percent to 1.63MT while deliveries from Russia amounted to
446,000 tonnes, down by 14.4 percent from November 2022. Thermal coal imports
fell 2.4 percent to 8.31MT.


EQUINOR GAS MEGA-DEAL

Dec 20 (LNGJ) - Norwegian pipeline gas company Equinor and German state-owned
firm Securing Energy for Europe (SEFE), formerly a unit of Russia's Gazprom
before it was nationalized by the German Federal Government after the Russian
invasion of Ukraine, have signed a wide-ranging gas supply deal. Equinor has
agreed to supply 111 terrawatt hours, or 10 billion cubic metres of natural gas
per annum, to SEFE from January 2024 until 2034 and with an option for another
five years and at terms reflecting market prices.

   “This is a response to Europe’s need for long-term, reliable supply of
energy,” said Equinor’s Chief Executive Anders Opedal. “The gas will be
delivered to Trading Hub Europe (THE) in Germany, Title Transfer Facility (TTF)
in the Netherlands and at the National Balancing Point (NBP) in the UK,” said a
joint statement. The agreements were signed in Berlin by CEO Opedal and SEFE’s
CEO, Egbert Laege. “After the Troll gas sales agreement in 1986, this is one of
the largest gas sales agreements Equinor has entered into as a company,” the
Norwegians added.


VITOL UAE BUNKER

Dec 19 (LNGJ) - Vitol, the global commodities firm and LNG player, has completed
an inaugural biofuel delivery in the United Arab Emirates. The delivery took
place in Fujairah in the northeast of the UAE and the only one of seven emirates
with a coastline solely on the Gulf of Oman. “Vitol has successfully completed
its first biofuel deliveries in Fujairah, demonstrating its ongoing commitment
to sustainable fuel solutions,” said Vitol.

   “Through its wholly-owned bunker arm, Vitol Bunkers, two vessels received B24
VLSFO on December 8 and December 14,” said Vitol. The fuel was sourced from its
Fujairah-based refinery FRL and blended with regionally-sourced biofuel at
storage facilities. “Certified biofuels are expected to play a key role in
helping the hard-to-abate maritime sector to decarbonise and reduce greenhouse
gas emissions on a well-to-wake basis,” added Vitol.


UK DELIVERIES

Dec 18 (LNGJ) - The UK is scheduled to receive at least three LNG cargoes in the
coming week from Trinidad, Norway and the US Gulf Coast. The “Bilbao Knutsen”
with 135,000 cubic metres capacity is scheduled to discharge a cargo from
Trinidad on December 22 at the UK Dragon import terminal at the Port of Milford
Haven. The cargo was loaded on November 21 at the Caribbean nation’s Point
Fortin facility, according to shipping data.

   The “Arctic Princess” with 147,835 cubic metres capacity is due to deliver a
cargo to the Dragon terminal on December 25 from the Hammerfest plant in
northern Norway. The shipment was lifted on December 17 from the Norwegian
facility. A second cargo is due for delivery to Milford Haven on December 25 at
the South Hook terminal on board the “Traiano Knutsen” with 180,000 cubic metres
capacity. That shipment was loaded on December 3 at Sempra’s Cameron plant in
Louisiana.


FREEPORT FIRE FINE

Dec 15 (LNGJ) - The Freeport LNG export plant on Quintana Island in Texas has
accepted a fine from the US Environmental Protection Agency to settle safety
violations related to the June 8, 2022, explosion and fire at the facility that
caused over $250 million of damage. The consent agreement was made public by the
Federal Energy Regulatory Commission and included a civil penalty of $163,054
for breaking chemical accident prevention rules under the Clean Air Act.

   The settlement followed allegations by the EPA that Freeport LNG had failed
in its duty to maintain a safe facility, did not implement recommendations from
a 2021 hazard analysis and failed to punctually update its emergency contact
information. Under the settlement, Freeport LNG neither admitted nor denied the
allegations. The Freeport fire closed the plant for eight months and was a
setback for the company as it was also looking forward to proceeding with an
expansion project to increase output from around 15 million tonnes per annum of
LNG from three Trains to 20 MTPA with the construction of a fourth Train.


KOREAN STORAGE STEEL

Dec 14 (LNGJ) - Dongkuk Steel Mill Co., South Korea's third-largest steelmaker,
said it had succeeded in commercializing cryogenic flexible steel for making
liquefied natural gas storage tanks. Dongkuk Steel said research and development
had taken three years.

   Dongkuk, headquartered in the Korean port of Incheon, said the cryogenic
flexible steel had passed tension tests by a global certifier, the Luxemburg
Institute of Science and Technology. The product called “DK-CryoFlex BAR” can
withstand temperatures as low as minus-170 C and will be marketed to LNG storage
facilities.


WOODSIDE LNG SHIPS

Dec 13 (LNGJ) - Woodside Energy, the operator of the Northwest Shelf and Pluto
LNG plants in Western Australia, has reached an agreement with three maritime
labor unions to ensure employment of around 70 Australian-resident seafarers on
LNG carriers within the Woodside fleet. In its most recent report on shipping,
Woodside said it maintained an LNG carrier fleet of six vessels under long-term
contracts.

   “This agreement reflects our shared interest with unions in ensuring
continued opportunities for employment across all aspects of the LNG industry,
including shipping, and recognises the Australian government’s interest in
strengthening maritime supply chains,” said. Woodside Chief Executive Meg
O’Neill.


RED SEA WARNING

Dec 12 (LNGJ) - The United Nations International Maritime Organisation’s
Secretary-General Kitack Lim from South Korea has issued an urgent warning about
threats to commercial shipping in the Red Sea used by vessels entering or
exiting the Suez Canal. “The recent reports of threats made to commercial
shipping in the Red Sea are extremely alarming and unacceptable,” Lim said.

   “Ships, cargoes and seafarers must be protected at all times. I invite Member
States to work together to ensure unhindered and safe global navigation,” he
added. About 60 vessels including LNG carriers normally transit the Suez Canal
each day, though numbers have dropped recently due to war risks. “Commercial
shipping should never be a collateral victim of geopolitical conflicts. Any
attack on commercial shipping is contrary to international maritime law,
including laws which protect the freedom of navigation,” Lim stated.


HOT CROATIA MARKET

Dec 12 (LNGJ) - Star Energy, the company listed on the London Stock Exchange
Alternative Investment Market, is hoping to give LNG importer Croatia more
access to additional sources of energy. The company said that a drilling rig had
been mobilised to a recently constructed well pad on its Ernestinovo Licence in
Eastern Croatia, three months after the acquisition of its Croatian Geothermal
interests. “The rig will re-enter the Ernestinovo-3 well to test the geothermal
potential,” said the company.

   “Crosco is conducting the well re-entry programme. They are a highly
experienced Croatian-based international drilling company and have conducted the
successful re-entry of a number of wells in-country,” it added. The company said
the operation was likely to continue for about one month. “We are excited to
begin the well re-entry on Ernestinovo-3. The speed with which we have
constructed a well pad and commenced this operation demonstrates both the
expertise of our local partners and the efficiency of the Croatian regulators,”
stated Star Energy Chief Executive Chris Hopkinson.


SRI LANKA OUTAGE

Dec 11 (LNGJ) - Sri Lanka, the Asian island nation with unfulfilled plans for
LNG imports and gas-fired power projects, has suffered a nationwide power outage
over the weekend as the financial crisis continued to hinder fuel and food
imports. Sri Lanka largely depends on hydro-electric power for power generation,
while coal and oil can be used to cover the balance, though the financial crisis
has hindered coal and oil imports.

   Sri Lanka declared bankruptcy last year with almost $85 billion in debts with
more than half owed to foreign creditors. The government and the power industry
said they were working to manage the situation. “We made a request to the
government to allow the public sector, which has about 1.3 million employees, to
work from home for the next two days so we can manage the fuel and power
shortages better,” said a statement from Janaka Ratnayake, Chairman of the
Public Utilities Commission of Sri Lanka.


GTT CHINA DEAL

Dec 8 (LNGJ) - French LNG maritime storage tank designer GTT has signed a
“strategic cooperation agreement” with China State Shipbuilding Corp. (CSSC),
the leading Chinese shipbuilding group.

   The accord was signed at the Marintec China international trade fair in
Shanghai. “The agreement provides for cooperation between GTT and 12
subsidiaries of the CSSC conglomerate, notably in ship design and construction,
cryogenic containment technologies for LNG shipping, LNG as fuel and smart
shipping1 solutions,” said GTT. Among the CSSC subsidiaries are Hudong-Zhonghua
Shipbuilding, the Jiangnan Shipyard, Dalian Shipbuilding Industry Co. and
Shanghai Waigaoqiao Shipbuilding.


CHIYODA CONTRACT

Dec 7 (LNGJ) - Chiyoda Corp., the Japanese LNG and energy engineering company,
said it was awarded a feasibility study contract for a carbon-dioxide
liquefaction plant by Japan’s Electric Power Development Co. (J-Power).
Chiyoda’s contract scope includes the design of a CO2-capture plant, a
liquefaction plant and utility facility.

   J-Power is participating in the public call for commissioned research for a
CCS project selected by the Japan Organisation for Metals and Energy Security
(JOGMEC), along with Eneos Corp. and JX Nippon Oil & Gas Exploration. “Chiyoda
will collaborate with J-Power by applying its CCS project experience to support
their plans,” said Chiyoda.


BEYOND LNG PLANS

Dec 6 (LNGJ) - JGC Holdings Corp., one of the leading energy and LNG project
engineering company, said its JGC Corp. unit for overseas engineering ventures
has been selected by the Japan Aerospace Exploration Agency (JAXA) for its
proposal-based competitive-bidding project for a conceptual study of a Lunar
In-Situ Resource Utilization (ISRU) Plant. The facility will be capable of
extracting water from lunar soil (regolith) and produce liquid hydrogen and
liquid oxygen, which can be used as fuel for manned lunar landers and excursion
vehicles or spacecraft.

   “Amid the currently accelerating global trend of lunar exploration, as
exemplified by the Artemis program led by NASA, JAXA aims to realize the
utilization of lunar water resources,” said JGC. “The scenario lays out JAXA's
plans to study the concept of the entire system of a lunar ISRU plant along with
element technologies and conduct ground demonstrations,” the Yokohama-based
company explained. A Lunar demonstration plant is expected to be built in the
2030s and a full-scale launch of an operational ISRU plant is scheduled by 2040.


EUROPEAN DELIVERIES

Dec 5 (LNGJ) - Cargoes are heading to Germany, the UK and Belgium in the next
week from Angola, the US and Qatar. The LNG carrier “Cubal” with 155,000 cubic
metres capacity is due to unload a cargo on December 8 at the German North Sea
port of Wilhelmshaven. The cargo was lifted on November 25 from the Soyo plant
in the southwest African nation, according to shipping data.

   The “Gaslog Galveston” with 174,240 cubic metres capacity is scheduled to
discharge a US cargo on December 9 at the UK South Hook import terminal at the
port of Milford Haven. The cargo was lifted on November 21 from the Sabine Pass
plant in Louisiana. The Qatari Q-Flex vessel “Tembek” with 211,880 of capacity
is due to deliver a cargo from Qatar on December 9 to the Belgian import
terminal at Zeebrugge. The shipment was loaded on November 18 at Ras Laffan in
the Gulf.


BRAZIL GAS CONTRACT

Dec 4 (LNGJ) - BrasFELS Shipyard, located in the southwest of Rio de Janeiro
state in Brazil and part of the Singapore-based Seatrium Group, has secured a
contract from a subsidiary of Japan’s MODEC to undertake parts of the topside
modules fabrication of a Floating Production Storage and Offloading (FPSO) unit
for the Raia natural gas project in Brazil, operated by Norway’s Equinor on
behalf of a consortium. The Raia project comprises the development of a pre-salt
gas and condensate field in the Campos Basin, located about 200 kilometres (124
miles) offshore the Brazilian state of Rio de Janeiro to produce mainly gas but
also some oil.

   “We are pleased to partner with MODEC on yet another FPSO topside modules
fabrication project, affirming Seatrium’s position as a leading global player in
FPSO newbuilds and conversions,” said Marlin Khiew, Executive Vice President of
Oil & Gas (Americas) at Seatrium. “Over the years, we have leveraged our deep
engineering expertise, international yard footprint and strong track record to
deliver over 260 Floating Production Units and FPSO conversions and newbuilds,
solidifying our market leadership in this product segment,” Khiew added.

 


VOPAK LNG DEAL

Dec 1 (LNGJ) - Royal Vopak, the world’s leading independent tank storage
company, has completed the acquisition of a 50 percent shareholding in the
second LNG import facility in the Netherlands, located at Eemshaven in
Groningen. The facility was launched in September 2022 by Dutch utility Gasunie,
Vopak’s partner in the Rotterdam LNG terminal. “Gasunie and Vopak are working to
increase the capacity further towards 10 billion cubic metres (from 8 Bcm per
year), highlighting the commitment of the partners to jointly develop and
operate open-access LNG infrastructure and contribute to the energy security of
Europe,” said Vopak.

   The total investment by Vopak to acquire the 50 percent of the EemsEnergy
Terminal company is just above €80 million ($87.4M). Vopak has also completed
the sale of its three chemical terminals in Rotterdam, the Botlek, TTR and
Chemiehaven facilities, to Infracapital for a total purchase price of €407M.
“Total cash receipt net of transaction costs and net debt items at closing is
€372M,” the company said.


UK CARGO DELIVERIES

Nov 30 (LNGJ) - Two LNG cargoes are headed for the UK port of Milford Haven next
week, one from Peru and another from the US Gulf Coast, as wholesale prices for
January on the UK National Balancing Point gas market dipped to the equivalent
of $13.655 per million British thermal units.

   The “Maran Gas Amphipolis” with 173,400 cubic metres capacity is scheduled to
discharge a Peruvian shipment on December 5 at the Dragon import facility at
Milford Haven, according to shipping data. The cargo was lifted on November 11
from Pampa Melchorita facility on the Pacific Coast. The “Methane Patricia
Camilla” with 167,400 cubic metres capacity is due to unload a US cargo on
December 7 at the Welsh port’s South Hook terminal. The cargo was lifted on
November 23 from the Sabine Pass plant in Louisiana.


SAIPEM $1.9BLN WINS

Nov 29 (LNG) - Italian LNG and energy engineering company Saipem has been
awarded two South American offshore oil and natural gas contracts, one in Guyana
and the other in Brazil, worth around $1.9 billion. Saipem said the first
contract was awarded by ExxonMobil Guyana for the proposed Whiptail oilfield
development located in the Stabroek block offshore Guyana at a water depth of
2,000 metres.

   Saipem’s scope of work includes the design, fabrication and installation of
subsea structures, risers, flowlines and umbilicals for a large subsea
production facility. The second contract has been awarded by Norwegian energy
company Equinor for the Raia project, the development of a pre-salt gas and
condensate field in the Campos Basin, located about 200 kilometres (124 miles)
offshore the state of Rio de Janeiro in Brazil. This project will provide more
natural gas for the domestic market of LNG importer Brazil.


GUNVOR US DEAL

Nov 28 (LNGJ) - Delfin Midstream, the US LNG project developer, and global
commodities firm Gunvor Group, have signed a long-term LNG Sale and Purchase
Agreement. Delfin said that under the 15-year SPA, Delfin would supply between
500,000 tonnes and 1 million tonnes of LNG per annum to Gunvor on a
free-on-board basis at the Delfin Deepwater Port to be located 40 nautical miles
off the coast of Louisiana.

   “We continue to support US LNG projects and unlock new sources to meet the
growing global LNG demand while further expanding our supply portfolio,” said
Kalpesh Patel, Co-Head of LNG Trading at Gunvor. Dudley Poston, Chief Executive
of Delfin, said he was pleased to enter into a long-term LNG deal. “This latest
sale and purchase agreement further demonstrates our attractiveness as a
long-term source of scalable, reliable and clean LNG,” Poston stated.


TEXAS LNG FOR UK

Nov 28 (LNG) – Two December cargoes are heading for the UK. The “BW Pavilion
Aranda” with 173,400 cubic metres capacity is scheduled to discharge a shipment
on December 2 at the South Hook terminal at the Port of Milford Haven in Wales.
The cargo was loaded on November 16 at the Freeport facility in Texas, according
to shipping data. The “Iberica Knutsen” with 135,230 cubic metres capacity will
deliver a cargo on the same date to the Isle of Grain LNG terminal in Kent,
southeast of London. The cargo was lifted on November 11 from the Corpus Christi
plant in Texas.


ITALY LNG CAPACITY

Nov 27 (LNGJ) - SNAM, the Italian natural gas grid operator and floating and
onshore import terminal owner, has launched a consultation regarding the first
assignment procedures for the regasification capacity at the proposed floating
storage and regasification unit (FSRU) to be deployed at the port of Ravenna.
The FSRU “BW Singapore” will be on station at the Adriatic port of Ravenna and
be operational by the end of 2024.

   “The first assignment procedures for the regasification capacity at the FSRU
Ravenna Terminal have been published,’ said SNAM. “Interested parties can submit
their observations on the procedure for the first assignment by 17 December
2023. As part of the consultation, interested parties may also submit
expressions of interest for capacity products with a duration shorter than the
assignment period by 30 November 2023,” added SNAM.


MOL SHIP PROFITS

Nov 24 (LNGJ) - Japanese shipping company Mitsui OSK Lines, whose “energy
business fleet” includes over 150 tankers for oil and other products and about
90 LNG carriers, reported higher profits and revenues for the first six months
of the year. Revenues in the energy shipping division, one of five in the MOL
Group, amounted to 214.9 billion yen ($1.43Bln), up from 189.1Bln yen in the
same six months last year. Net profits increased to 37.6Bln yen ($252M) from
22.1Bln yen in the prior-year period.

   Takeshi Hashimoto, President and Chief Executive of MOL, said he was very
pleased with the results for the first six months to the end of September. “We
accumulated profits in the energy business and car-carrier business, both of
which are the strengths of the MOL Group,” Hashimoto explained. “Performance in
the first half exceeded forecasts as a result, and with the weaker yen also
expected to have an impact on profits in the second half, we have raised the
forecast for second-half profits to 220Bln yen ($1.47Bln),” Hashimoto added.


US CARGOES TO EUROPE

Nov 23 (LNGJ) - The UK and Germany are set for US LNG deliveries over the next
few days. The vessel “MOL Hestia” with 170,800 cubic metres capacity is
scheduled to discharge a US cargo on November 24 at the UK South Hook terminal
in the Port of Milford Haven in Wales. The shipment was lifted on November 3
from the Sabine Pass export plant in Louisiana, according to shipping data.

   One other US cargo is heading for the German North Sea port of Wilhelmshaven
and is due to berth on November 26. The carrier “Maran Gas Amorgos” with 170,800
cubic metres capacity loaded the cargo on November 12 at the Calcasieu Pass
plant near Lake Charles in Louisiana.


BELGIAN-DUTCH CARGOES

Nov 22 (LNGJ) - LNG cargoes are heading for Belgium and the Netherlands over the
next week. The vessel “Maran Gas Troy” with 159,800 of capacity is scheduled to
berth with a US cargo on November 23 at the Belgian import terminal at
Zeebrugge. The shipment was lifted on November 10 from the Sabine Pass plant in
Louisiana, according to shipping data. A Russian delivery is then scheduled at
Zeebrugge on November 26 onboard the carrier “Boris Davydov” with 172,000 cubic
metres capacity. The cargo was loaded on November 20 at the Sabetta terminal on
the Yamal Peninsula of northern Siberia.

   A third cargo is then due at Zeebrugge on November 29 from Angola on the
vessel “Sonangol Benguela” with 160,500 metres of capacity. The volumes were
lifted on November 13 from the Soyo export plant in the southwest African
nation. Two cargoes are heading for the Netherlands from Texas. The “Adamastos”
with 174,100 cubic metres of capacity is scheduled to arrive at November 25 at
the Eemshaven facility in Groningen with a cargo from the Corpus Christi plant
in Texas lifted on November 10. The carrier “WilPride” with 156,000 cubic metres
capacity will discharge a Texas cargo on November 29 at the Gate terminal in
Rotterdam. The volumes were loaded at Corpus Christi on November 13.


TECHNIPFMC ASSET SALE

Nov 21 (LNGJ) - TechnipFMC has agreed to sell the company’s measurement
solutions business to One Equity Partners for $205 million in cash, subject to
customary adjustments at the closing of the transaction. As part of TechnipFMC
Surface Technologies segment, the measurement solutions business encompasses
terminal management solutions and metering products and systems, and includes
engineering and manufacturing locations in North America and Europe.

   “This transaction reflects TechnipFMC’s broader portfolio strategy to further
focus on our core products and market-leading technologies, as well as
integrated solutions and services for our clients,” said Doug Pferdehirt,
Chairman and Chief Executive at TechnipFMC. The transaction is expected to close
during the first half of 2024. 


ASIAN CCS PROJECT

Nov 20 (LNGJ) - Japanese LNG engineering company, JGC Holdings Corp., said it
had agreed with Japan Petroleum Exploration Co. and Japanese shipping company
Kawasaki Kisen Kaisha (K-Line) on the key principles for the commercialisation
of a carbon-capture and storage (CCS) with Malaysian energy company Petronas by
the end of 2028.

   “The target amount of CO2 injection is to be at least 2 million tons per year
at the beginning of the project, including that from Malaysia and Japan, and 5
million tons per year by 2030, with a view to increasing the amount to more than
10 million tons per year in the early 2030s,” the companies said.


POLAND GAS DISPUTE

Nov 17 (LNGJ) - The European Commission, the executive arm of the 27-nation
European Union, said it was suing LNG and pipeline gas importer Poland over
additional costs the Poles have imposed for cross-border natural gas trading.
Poland is facing the lawsuit at the European Court of Justice for imposing
“restrictive measures” under its national legislation on energy companies not
using Polish storage.

   Polish natural gas trading laws exclude the EU trading principle of “use it
or lose it”. Instead, Poland requires gas importers and traders of gas stored
outside Poland to ensure that they can deliver the total mandatory amounts of
gas to the Polish national transmission or distribution network at all times,
and to book firm transportation capacity into Poland just in case this may be
needed. However, gas suppliers using Polish storage facilities are not subject
to such restrictions and the Commission argues that this distorts the gas
market.


BW SANTOS FPSO

Nov 16 (LNGJ) - BW Offshore reported third-quarter net profits of US$28.9
million, up from US$10.9M in the previous quarter, as it continued to execute
the Barossa floating production, storage and offloading (FPSO) platform project
work as part of the Darwin LNG lifespan extension in the Australian Northern
Territory with overall completion at 77.2 percent in line with the schedule.

   BW said the FPSO, which is destined for the Australian LNG project run by
Santos, was currently on its way to Singapore following completion of the hull
at the shipyard in South Korea. BW explained that. lifting and installation of
the topside modules was set to commence at the integration yard in Singapore.
“We see a continued strong FPSO market with oil and gas companies seeking
efficient solutions for safe, secure and reliable production. We are selectively
maturing projects that meet our criteria,” said Marco Beenen, Chief Executive of
BW Offshore. “Operationally we have full focus on delivering the ‘BW Opal’ per
plan for the Barossa project and maintaining high operational uptime on our core
assets,” Beenen added.



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