Eurobench.com

voda 19 oktober 2018 16:10

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Adani & Total sign agreement to develop LNG terminals and fuel retail stations in India

ETEnergyWorld reported that Gautam Adani-led Adani Group signed an agreement with French energy giant Total SA to jointly develop Liquefied Natural Gas (LNG) terminals and fuel retail stations across the country, both the companies’ said in a joint statement. According to the statement issued, the partnership will include developing various re-gasification terminals including Dharma LNG terminal and 1,500 fuel retail stations over the period of 10 years.

Mr Patrick Pouyanne, Chairman and Chief Executive Officer at Total said, said that “We are thrilled to build this broad partnership with the Adani Group, benefitting from its in-depth knowledge of the Indian infrastructure and energy market, as well as its access to infrastructures through a significant footprint in several of the country’s key ports.” Mr Pouyanne said the French company is "very interested" in investing in downstream sectors in India.

The statement said that “Total and Adani will create a Joint Venture with an objective to build a retail network of 1,500 service stations over the period of 10 years, on the main roads of the country, such as highways and intercity connections to take advantage of a market growing at 4% per year driven by the development of road infrastructures and the emergence of middle class, which has been open to private investors since 2014.”

The release added that the fuel retail service stations will be offering Total’s fuel, lubricants and a broad range of other products and services.

Adani Group Chairman Mr Gautam Adani said said that “The global synergy between the two groups presents widespread benefits and long-term value for the economy and the people of India. We are looking forward to this opportunity to touch millions of lives by leveraging our collective footprints and domain expertise in the energy sector.”

Source : ETEnergyWorld

voda 19 oktober 2018 16:10

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Sempra Energy to produce 12.4 million tonne per annum of LNG in Mexico

US Sempra Energy launches a 12.4mtpa LNG production project in the west coast of Mexico. It plans to produce LNG from US-produced natural gas at the Costa Azul receipt terminal in Baja California, western Mexico. The launch is planned in 2025. By the year, it intends to start production of 3.3 mtpa as the mid-scale project and in parallel 4.5 mtpa as the first phase of the large-scale project at the terminal. The Costa Azul LNG terminal launched in 2008 is operated by Energia Costa Azul (ECA), a subsidiary of Infrastructure Energetica Nova (IEnova) that Sempra Energy owns 66.43% stake in.

Sempra Energy is preparing a 3.3-mtpa mid-scale project and a 9.1-mtpa large-scale project at the terminal. It filed for export permission of 182 Bcf/year of natural gas and 161 Bcf of LNG/year for the mid-scale project and 545 Bcf/year of natural gas and 475 Bcf/year of LNG for the large-scale one to the Department of Energy (DOE).

At the Mexican terminal equipped with two 160,000-cubic-meter storage tanks, the Company will add one 3.3-mtpa train and utilize existing facilities in the mid-scale project, and build two 4.5-mtpa trains and one 160,000-cubic-meter storage tank in the large-scale project.

Sempra Energy is setting its sights on Asia, the Middle East, and South America, the areas the Pacific Coast-based project has geographically advantages in shipment - it requested DOE both FTA and non-FTA export permission. The Company plans to request the project's official filing by the Q2 of 2019 aimed at commencing development of the mid-scale project and the large-scale project's first phase.

In Mexico, infra-development company DKRW Energy etc. are also planning a 12-mtpa LNG production project with the US-produced natural gas in Sonora state.

Source : Strategic Research Institute

voda 22 oktober 2018 21:33

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Exxon Mobil looks to sign LNG supply deal with Zhejiang Energy

Reuters quoted a senior executive said, which would be Zhejiang Energy's first long-term supply deal, Exxon Mobil is looking to sign a long-term liquefied natural gas (LNG) supply deal with Zhejiang Provincial Energy Group. Mr Peter Clarke, president of Exxon Mobil gas and power marketing, was speaking at the International Petroleum and Natural Gas Enterprise conference at Zhoushan, near Shanghai.

However, Exxon Mobil is stepping up its efforts to meet soaring LNG demand, coupling multi-billion dollar production projects around the world with its first mainland storage and distribution outlet.

Source : Reuters

voda 22 oktober 2018 21:36

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Poland deal for LNG from US to ease dependence on Russia - PGNiG

AFP quoted Poland's state-run gas firm PGNiG as saying tha it had sealed an unprecedented 20-year deal for liquefied natural gas (LNG) deliveries from the United States in a bid to ease heavy dependence on Russian supplies. Poland's Prime Minister Mateusz Morawiecki told reporters in Warsaw "Today we can fulfil our efforts to improve the sovereignty, security and competitiveness of our gas sector," adding that the deal will help reduce Poland's reliance on Kremlin-backed Russian energy giant Gazprom.

US ambassador to Poland Georgette Mosbacher told reporters the contract was part of a drive by the Trump administration to establish the United States as the "world's largest LNG exporter".

A PGNiG company statement said that the deal concluded by the Polish Oil and Gas Company (PGNiG) with two subsidiaries of the US-based Venture Global LNG will provide Poland with up to 2 million tonnes of liquefied natural gas per year.

Once regasified, it is the equivalent of 2.7 billion cubic metres of natural gas.

The deal with the US firm is due to take full effect in 2022, just as Warsaw's current contract with Gazprom for 10 billion cubic metres of natural gas per year is set to end.

Currently, Poland relies on the Russian giant for about two-thirds of its gas, with domestic supplies accounting for around a quarter of its market. Warsaw is also eyeing imports from Norway and Qatar.

Source : AFP

voda 23 oktober 2018 21:27

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US-Polish 20 year LNG deal fraught with risks - Report

Sputnik reported that Warsaw's incentive to reduce dependence on Russian pipeline gas has prompted Poland to sign a 20-year deal with a US LNG producer. It remains unclear whether the new deal obliging the Eastern European state to buy 2 million tonnes of super-chilled fuel per year will prove profitable for Warsaw. Polish state-run gas company PGNiG announced on October 17 that it had finalized a 20-year deal with the US-based Venture Global LNG producer to import up to 2 million tons of LNG - or 2.7 billion cubic meters after re-gasification - annually.

However, although PGNiG's CEO Piotr Wozniak claims that US LNG will cost about 20-25 percent less than the Russian pipeline gas for Poland, the much celebrated deal appears to be fraught with risks.

Under the contract, the Polish company is obligated to buy US LNG from two of Venture Global's subsidiaries on a free on board (FOB) from 2022, when the Venture Global Calcasieu Pass LNG export facility is expected to become operational. The agreement struck by the former government of Waldemar Pawlak with Moscow on the supplies of Russian natural gas will expire the same year.

The LNG tanker Clean Ocean is pictured during the first US delivery of liquefied natural gas to LNG terminal in Swinoujscie, Poland June 8, 2017.

Currently, Poland imports almost two thirds of its gas from Russia and is struggling to reduce "energy dependency" on Moscow. Commenting on the US-Polish gas agreement, Polish Energy Minister Krzysztof Tchorzewski stressed that "in the Polish context, this gas is a civilizational good."

Source : Sputnik

voda 23 oktober 2018 21:28

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Total & CNOOC sign SPA agreement for LNG

Total and CNOOC signed an amendment to their existing sale and purchase agreement (SPA) for liquefied natural gas (LNG) supply to further strengthen their cooperation in the LNG business. The partners have increased the contract volume from 1 million tons per annum to 1.5 Mtpa of LNG, sourced from Total’s global LNG portfolio, and have extended the term of contract to 20 years. The initial long-term LNG SPA was signed in 2008, with an annual contract volume of 1 Mtpa for a period of 15 years.

Mr Philippe Sauquet, President Gas, Renewables and Power, said that “We are delighted to strengthen our partnership with CNOOC to expand our presence in the Chinese LNG market, which grew by 50% over the first half of 2018 and will continue to drive the increase of LNG demand over the next decade.”

With a portfolio of 15.6 million tons managed in 2017, Total is one of the world’s leading players in the sector, with solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, the United Arab Emirates, the United States, Australia, Angola and Yemen, the Group sells LNG in all global markets.

Following the acquisition of Engie’s LNG business, Total became the second-largest Private global LNG player among the majors, with an overall LNG portfolio of around 40 Mtpa by 2020 and a worldwide market share of 10%.

LNG development is a key element of the Group strategy, which is strengthening its upstream positions in the major production regions with projects in Russia, the Middle East, the US and Australasia, as well as its downstream positions in all markets.

Source : Strategic Research Institute

voda 24 oktober 2018 19:43

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Australia's Woodside to work with China's ENN on LNG business

Reuters quoted Australia's Woodside Petroleum as saying that it had signed an agreement to work with China's privately owned ENN Group on potential business opportunities that could boost demand for Woodside's liquefied natural gas (LNG). The agreement, disclosed in a statement by Woodside, comes as Australian companies scent opportunities to expand LNG sales to China after Beijing imposed a 10 percent tariff on US LNG imports in a trade war between the world's two biggest economies. Australia's Santos has a similar tie-up with ENN, which is also its top shareholder.

Mr Reinhardt Matisons, Woodside's executive vice president for marketing, trading and shipping, said in the statement that "Woodside's aim is to grow our relationship with ENN Group, and we now plan to jointly investigate opportunities for cooperation in LNG marketing, trading and shipping."

Woodside said the agreement was signed in the Chinese coastal city of Zhoushan, where ENN recently opened an LNG import terminal.

ENN said the agreement with Woodside amounted to an intent to cooperate. ENN is exploring "more extensive cooperation with LNG supply chain partners" globally following the launch of the Zhoushan terminal and the growth of its natural gas business, the company said in an emailed response to questions.

Source : Reuters

voda 24 oktober 2018 20:04

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US seeking to boost LNG exports to Japan, rest of Asia - Mr Brouillette

AP quoted a top US energy official as saying that that Asia is the center of growth in energy demand and offers a great opportunity to expand American liquefied natural gas exports. US Deputy Secretary of Energy Mr Dan Brouillette told reporters in Tokyo that the US is working with Japan and others to build facilities for US LNG exports and improve their energy security. Japan is the world's biggest importer of LNG. "The world is right here in Asia," Brouillette said. "Demand for LNG is very, very high here. There is an enormous amount of opportunities not only for US businesses but also for Japanese businesses as well as other Asian businesses." Countries trying to move away from fossil fuel and coal are turning to LNG as a cleaner option. Mr Brouillette said he is not concerned about the impact of the US trade dispute with China on the American LNG business given the sharp increase of Chinese demand in recent years.

Mr Brouillette was in Japan to attend an international LNG conference and meet industry and government officials. The US doesn't require what are known as destination charges, which creates an economic opportunity to buy the gas at lower costs and sell it on the open market. Japan is the world's biggest importer of LNG, consuming one-third of global production. Its LNG consumption soared after nuclear plants were closed following the 2011 Fukushima disaster.

Japanese Minister of Economy, Trade and Industry Hiroshige Seko, speaking at the LNG Producer-Consumer Conference in Nagoya, in central Japan, promised to expand Japan's support for projects jointly sponsored by private enterprise and the government to supply LNG and build infrastructure in Asia. He said Japan is seeking to create a 50 million ton LNG market in the region and is already cooperating with the US

Experts said that an increase in American LNG exports to Japan and other Asian countries is expected to reduce the US trade deficit. That could also promote Japan's exports of LNG infrastructure.

Source : AP

Bijlage:

voda 24 oktober 2018 21:19

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LNG shipping spot rates hit USD 250,000 per day - Platts

Platts reported that spot day charter rates for LNG carriers have hit their highest levels since mid-2012 on the back of low prompt availability of vessels in both the Atlantic and Pacific basins. This week, S&P Global Platts assessed Pacific and Atlantic day rates for LNG vessels at USD 140,000/day and USD 130,000/day, respectively, up 40% since mid-September, and nearly 3.5 times higher than a year ago when rates were still around USD 40,000/day. The surge in rates indicates that LNG supply is growing faster than new ships are being delivered. The year 2018 will see the largest number of newbuild LNG carriers added to the global fleet, taking it well past the 500 mark.

Shipping typically accounts for 5%-20% of the delivered LNG price ex-ship, meaning big moves in rates can have a significant effect on the final price of gas, and the ability of traders to arbitrage LNG cargoes between regions. Day rates first broke the 6-figure level around mid-September. Multiple shipping sources said no ships were available from independent ship-owners across both basins with chartering opportunities focused on relets from portfolio players or traders.

In the Pacific region, a spot charter for mid-November was reportedly north of USD 160,000/day, and several multi-month charters in the low-$100,000s/day.

Mr Nicolay Dyvik, shipping research analyst at DNB Markets, said that “What we are about to witness in LNG shipping has only happened twice since 2008 with great magnitude,” adding that LNG freight rates could rise as much as USD 250,000/day if markets get tighter.

High freight rates are a product of tight supply of ships and strong arbitrage fundamentals that allow ship-owners to command higher charter rates. Dyvik said this last happened in 2008 in the dry bulk freight market, when Capesize rates hit USD 250,000/day, and in 2013-2014 when VLGC rates peaked at USD 150,000/day.

Mr Dyvik said that “Now it could happen in LNG,” adding that at last count, only two LNG vessels were available for prompt cargoes in the current market — one in the Middle East and one in the Far East region.

Source : Platts

voda 25 oktober 2018 19:34

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Global LNG shipping rates double since end-August

Reuters reported that headline rates for shipping liquified natural gas (LNG) in Pacific and Atlantic basins stand at around USD 140,000 to USD 150,000 a day for a 160,000 cubic metre LNG tri-fuel diesel electric (TFDE) vessel, brokers say. That is a 6-year high and compares to Atlantic basin rates of USD 75,000 at the end of August and around USD 95,000 at the end of September. Rates have jumped due to supply from new plants, longer distances travelled and anticipation of higher prices prompting shippers to lock in longer-duration contracts. Jefferies said that “Charterers continue to lock in multi-month contracts ahead of the winter and we continue to believe LNG shipping rates will remain strong due to very attractive supply/demand fundamentals in the coming quarters.”

The high rates have slowed down spot LNG deliveries in Asia, said an Asia-based LNG trader, as shipping at such prices can account for over 10 percent of the price of LNG itself.

Asian spot LNG prices have fallen for the fourth week running thanks to fresh supplies from Australia, lower oil prices and the absence of Chinese buyers.

One broker said that individual spot deals for shipping LNG have been heard as high as USD 200,000 a day in Asia.

Source : Reuters

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voda 25 oktober 2018 19:50

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India's H-Energy seeks LNG cargoes ahead of new terminal start-up - Report

Reuters reported that India's H-Energy is seeking 17 cargoes of liquefied natural gas (LNG) for delivery over 2019 to 2022, three industry sources said. Offers are due by October 26 and the deal is expected to be awarded by October 31, one of the sources said. The company is seeking the cargoes ahead of the start-up of its LNG terminal in the west of the country.

The terminal at the port of Jaigarh, with a capacity of 4 million metric tonnes a year, is expected to start operation in the first quarter of next year after an initial delay.

Source : Reuters

voda 25 oktober 2018 20:07

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Exxon & Rosneft to build LNG plant with ONGC and SODECO - Report

Reuters reported that Russia's Rosneft and US ExxonMobil plan to build a liquefied natural gas (LNG) plant in a consortium with Indian and Japanese partners, spreading the estimated USD 15 billion cost, two sources familiar with the talks said. The four companies - Rosneft, Exxon, Japan's SODECO and India's ONGC Videsh - are partners in the Sakhalin-1 group of fields that will supply the gas, but Exxon and Rosneft had initially planned to build the LNG plant without the other consortium members. As well as spreading the costs among more stakeholders, the broader involvement of the participants may mitigate sanctions risk.

Initially, Rosneft and Exxon unveiled their joint plans to build an LNG production site in Russia's Far East to President Vladimir Putin in 2013. But production of the super-cooled, seaborne gas has so far failed to materialise for many reasons, including international sanctions against Moscow for its role in the Ukraine conflict.

LNG production itself is not subject to sanctions, but Russian companies have limited access to financial markets due to the restrictions. Exxon had to leave most of its other new joint projects with Rosneft due to the West's punitive measures against Moscow.

Two sources - one person close to Exxon, and a high-ranking Rosneft executive not authorised to speak publicly - said both firms are committed to carrying out the LNG plant project within the framework of the Sakhalin-1 agreement.

Sakhalin-1, a hydrocarbon project, is led by Exxon with a 30 per cent stake. Twenty per cent belongs to Rosneft, with the rest split between SODECO (30 per cent) and ONGC Videsh (20 per cent).

The source close to Exxon said that "No one is interested in financing such a project alone." Asked how the LNG plant deal would be structured, the senior Rosneft executive said: "It will be Sakhalin-1." The sources did not say how the financing of the LNG plant would be shared between the participants.

The source close to Exxon said a decision whether to go ahead with the LNG project was expected in 2019, otherwise the project risked losing its market amid growing competition.

Currently, two LNG plants, Novatek's Yamal LNG and Gazprom's Sakhalin-2, are producing the frozen gas in Russia, which has set an ambitious target of more than doubling its global LNG market share to 20 percent in the next decade.

Sakhalin-1 is pumping close to 300,000 barrels of crude oil per day, a record high, as well as natural gas that it has been unable to sell abroad. Gazprom has the exclusive rights to export pipeline gas from Russia.

Sakhalin-1 has to pump most of the gas back into the ground, while a small amount goes to local customers in the sparsely populated region. Decade-long talks with Gazprom and the consortium over gas sales have not yet yielded any results.

Rosneft, ONGC and SODECO declined to comment. The Russian Energy Ministry and the government also declined to make any immediate comment.

Source : Reuters

voda 26 oktober 2018 15:26

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Woodfibre LNG project set to go ahead in early 2019

Reuters reported that a small liquefied natural gas project north of Vancouver is poised to move to construction in the Q1 of 2019, adding momentum to Canada's efforts to become a significant exporter of the supercooled fuel. The CAD 1.6 billion Woodfibre LNG project, backed by Indonesian billionaire Sukanto Tanoto's RGE Group, would be Canada's second LNG project to go ahead, following the approval of the massive LNG Canada project earlier this month. Woodfibre LNG President Mr David Keane told Reuters "We're hoping to move to a notice to proceed to construction in Q1 of 2019. It will be sometime in February or March."

Woodfibre LNG is a relatively small project at 2.1 million tonnes per annum (mtpa), but was long touted as the front runner to get Canadian natural gas to Asian markets, where demand for the fuel is booming. It was given the go-ahead in 2016, but then delayed as the company worked through a number of issues.

Mr Keane said the project is nearly there - the company is just working with engineering contractor KBR Inc on reducing costs and awaiting a November decision on import tariffs on fabricated steel components, used for LNG liquefaction units. He said that "We've been very clear as an industry that there is no capability in Canada to build these large, complex modules. We feel that the federal government will be fair."

Woodfibre also needs to finalize its benefit agreement with the local Squamish Nation, which Keane said has been initialed, but needs to be formally signed by council. He hopes that will be done by year end.

Source : Reuters

voda 26 oktober 2018 15:32

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Germany to abandon Nord Stream 2 project, buy more US LNG - Mr Duda

Sputnik reported that, Polish President Mr Andrzej Duda slammed Nord Stream 2 as a political project which he claimed poses a threat to Ukraine and Slovakia. He added that Nord Stream 2 would have been "an energy threat to Poland" but for Warsaw's preventive actions. Mr Duda has urged Germany to abandon its participation in the construction of the Nord Stream 2 gas pipeline, according to the German news network Deutsche Welle. "This project should not be implemented", Duda said during a joint press conference with German President Frank-Walter Steinmeier in Berlin. He reiterated that Nord Stream 2 will disrupt the energy balance, create a threat to the energy security of a number of central and eastern European countries and strengthen Gazprom's dominant position.

Mr Duda also expressed surprise about the European Commission's unwillingness to express its negative stance on Nord Stream 2.

In this vein, the Polish President urged Berlin to buy more liquefied natural gas (LNG) from the US, saying that it should be a political and strategic decision." Steinmeier responded by insisting that the move to purchase the LNG should be economic, not strategic.

Mr Duda's remarks came after he told Polskie Radio that the implementation of the Nord Stream 2 project poses a threat to Ukraine and Slovakia, and that Warsaw sees the project as an "investment that has nothing to do with the economy."

Source : Sputnik

voda 26 oktober 2018 16:42

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Gunvor’s Clearlake Shipping charters Hoegh Gallant LNG vessel

Reuters reported that Clearlake Shipping, a unit of Swiss-based energy trader Gunvor, has chartered the Hoegh Gallant vessel as a conventional LNG carrier, Hoegh LNG said. Hoegh Gallant is a floating regasification and storage unit (FSRU) vessel, a type of LNG import terminal, which can also be used as a carrier. Hoegh said it would be chartered to a third party after ending a contract in Egypt early.

Gunvor said that LNG is a priority for this year after increasing traded volumes to 7 million tonnes in 2017 from 4 million tonnes in 2016. The 170,000-cubic metre Hoegh Gallant left the Suez canal last week and is heading for the U.S. Sabine Pass LNG export terminal, with an arrival date set for Nov. 6.

Source : Reuters

Bijlage:

voda 29 oktober 2018 19:37

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Mitsubishi Shipbuilding names next generation LNG carrier LNG JUNO for Osaka Gas

Mitsubishi Shipbuilding Co Ltd, a Group company of Mitsubishi Heavy Industries Ltd (MHI) based in Yokohama, held a christening ceremony today for a next-generation LNG carrier under construction for MOG-X LNG Shipholding SA, a wholly owned subsidiary of Mitsui OSK Lines Ltd (MOL). The ship, named “LNG JUNO,” is the third “Sayaringo STaGE” type vessel, and is Mitsubishi Shipbuilding’s newest carrier to feature significant improvements in both LNG carrying capacity and fuel performance through adoption of a more efficient hull structure and an innovative hybrid propulsion system. The LNG JUNO will go into service transporting LNG for purposes such as the Freeport LNG Project in the US state of Texas, in which Osaka Gas Co Ltd is participating.

The well-attended christening ceremony was held at the Koyagi Plant of MHI’s Nagasaki Shipyard & Machinery Works, with a representative of the ship’s owner among those present. Takehiro Honjo, Representative Director and President of Osaka Gas, proclaimed the formal christening. Mrs. Honjo performed the ceremonial rope cutting.

The LNG JUNO features LOA (length overall) of 297.5m, width of 48.94m, depth of 27.0m, and draft of 11.5m. Deadweight capacity is approximately 80,300 tons—the largest within the Sayaringo series—and the total holding capacity of the tanks is 180,000m³. Launching took place on March 17, 2018. Construction was performed by Mitsubishi Heavy Industries Marine Structure Co Ltd a Nagasaki-based MHI Group company. The new vessel’s name borrows from Juno, the ancient Roman goddess of marriage who manifests an image of peace and happiness.

The Sayaringo STaGE is a successor to the “Sayaendo,” a vessel highly acclaimed for its improved Moss-type spherical tanks and outstanding reliability. The adoption of the apple-shaped tanks and hybrid propulsion system functionality in the new Sayaringo STaGE has enabled a significant increase in LNG carrying capacity and overall fuel efficiency.

STaGE, an acronym deriving from “Steam Turbine and Gas Engines,” is a hybrid propulsion system combining a steam turbine and engines that can be fired by gas. Efficient use of the engines’ waste heat to drive the steam turbine results in substantial improvement in propulsion efficiency, enabling high-efficiency navigation throughout a full range of speeds.

Going forward, Mitsubishi Shipbuilding and Mitsubishi Heavy Industries Marine Structure will continue to contribute to stable energy supplies and environmental conservation through the construction of next-generation LNG carriers that offer superlative fuel efficiency and sustainable performance.

Source : Strategic Research Institute

voda 31 oktober 2018 19:42

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Germany moves to bankroll LNG plant in Canada to secure gas imports to Europe - Report

Sputnik reported that the aim of Berlin’s new financial initiative is to ensure that the plant, once operational, would supply the agreed amount of liquefied natural gas to the European market over a term of twenty years. The German federal government has announced its willingness to provide USD 1.5 billion loan guarantee to Goldboro LNG, a liquefied natural gas plant project in Canada run by Pieridae Energy. Earlier, Berlin also offered USD 3 billion loan guarantees for the project, with the total sum of loan guarantees therefore reaching USD 4.5 billion.

Pieridae Energy said in a statement that "This confirmation not only satisfies a critical condition leading to the completion of Pieridae’s acquisition of Ikkuma as contemplated by the arrangement agreement entered into between the Company and Ikkuma on August 23, 2018, but also marks an important milestone in advancing the integrated Goldboro LNG project towards a final investment decision."

The LNG plant, which is expected to have an estimated annual output of about 10 million tons, is set to be built in Nova Scotia near the Maritimes & Northeast Pipeline which runs from Canada to the United States.

The company added that the German investment is aimed at ensuring that "a specified amount of liquefied natural gas (LNG) produced annually from the proposed Goldboro LNG facility over a term of twenty years will be delivered to, and be regasified in, Europe."

At the beginning of its term, Merkel’s Cabinet has tasked itself with reducing Germany’s dependence on natural gas imports via pipelines from Russia and Norway. The new government plans "to create infrastructure for liquefied natural gas (LNG)" from scratch as a part of its energy and climate program.

Source : Sputnik

voda 5 november 2018 20:04

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Why Are Middle Eastern LNG Imports Soaring?
By Vanand Meliksetian - Nov 03, 2018, 12:00 PM CDT

The Arab world is blessed with some of the most impressive hydrocarbon reserves in the world, but despite impressive domestic reserves, production has failed to keep pace with rising consumption. Because of this, the Middle East and North Africa region or MENA will become the world’s second largest importer of LNG in the coming years according to the International Energy Agency, with consumption rising from 480 bcm in 2015 to 738 bcm in 2040.
Algeria was a pioneer in using LNG technology with the world’s first liquefication plant in 1964. The MENA has come a long way since the early days of the industry. Until 2015 almost 50 percent of the worldwide nominal LNG production came from the region. Resources, however, are unevenly distributed. While some countries possess significant reserves, such as Qatar, others rely on imports to meet demand.

Egypt went from the world’s eighth largest exporter of LNG in 2009 to the world's eighth largest importer in 2016. However, Cairo’s fortunes have changed again due to the discovery of a massive gas field off its coast in the Eastern Mediterranean. Others, such as the UAE, possess significant reserves, but rely on LNG to meet peak demand during the summer. Qatar, on the other hand, is slated to remain the largest LNG producer for the foreseeable future. Doha recently lifted its self-imposed moratorium on production regarding its North Dome gas field, the single largest field in the world.

Growing demand for LNG
MENA’s growing energy demand is caused by natural reasons and changes in government policies. The population is slated to double until 2050. Logically, more people require more energy to power homes and factories. Lagging domestic production needs to be supplemented by LNG imports in order to keep the economy going.

Government policies have created incentives to increase natural gas consumption due to its advantages compared to other fossil fuels. The price of LNG fluctuates on basis of the same economic fundamentals of supply and demand as with other products. Costs decreased significantly in 2013-2014 amid a sharp rise in upstream liquefication capacity and weak demand in some parts of the world.
Related: Energy Earnings Pull Trinidad And Tobago From Recession

According to some analysts, a ‘supply glut' was to persist until mid-2020. Beijing’s coal-to-gas policy, however, mitigated some of the gloom thinking with an increase in demand by 25% in 2018. China is now the second largest natural gas importer in the world after Japan and is slated to claim the title of largest LNG importer in 2019.

Financial gains for MENA

LNG’s appeal increased after prices dropped significantly in 2013-2014. In the MENA region, heavy fuel oils and diesel are important sources of energy for power production. Besides the heavy pollutant nature, financial arguments have strengthened the need for more LNG. It makes economic sense to switch to less pollutant fossil fuels when the price divergence compared to other sources of energy is significant enough.

Furthermore, the usage of LNG for the purpose of power production offers another financial advantage to the oil-rich MENA countries. Using LNG to substitute domestically sourced fuels means that more oil is available for buyers on the international market. Buying cheap natural gas and selling more expensive oil creates a financial advantage.

Related: Soaring U.S. Oil Production Forces Prices Down

Lastly, MENA’s wealth in abundant sunshine offers another financial benefit. The region suffers from extremely high temperatures during the summer and more mild weather in the winter meaning energy consumption peaks in the warmer months. Globally, LNG demand is at its highest when winter hits the densely populated northern hemisphere including Europe, China, and North America. Therefore, the MENA region is able to take advantage of a relative drop in prices when demand weakens globally during the summer.

Confrontation and changing policies
While the region is awash with natural gas resources, LNG has become a staple fuel. The relatively small distances between resource rich and resource poor nations are ideal for pipelines. Transportation of natural gas using LNG technology becomes economically favorable when the distance is more than 1900 miles or 3000 km. However, political disagreements and government policies have prevented the construction of infrastructure.

The blockade of Qatar by Saudi-Arabia and the UAE is a major impediment of getting energy from the richest Arab country in terms of natural gas resources to its neighbors. Egypt, on the other hand, has chosen to focus on the international LNG market instead of tying itself to a single or limited number of customers regarding pipelines.

Despite impressive growth, LNG imports to the MENA region could decrease on the medium-term. The wealthy Gulf countries have plans to construct nuclear power plants. Besides higher energy demand, Iran’s nuclear program has increased the need with Arab states to keep up. Also, the region is rich with sunshine which has put renewable energy on the agenda of most countries. Finally, the reinvigorated Egyptian LNG industry will change the situation for the most populous Arab country. The discovery of major gas fields has made LNG imports superfluous.

oilprice.com/Energy/Natural-Gas/Why-A...

voda 9 november 2018 18:35

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Algeria's Sonatrach awards LPG train contract to Italy's Tecnimont

Algeria's Sonatrach on Monday awarded a contract worth $248.5 million to Italy's Maire Tecnimont Spa to build a fourth liquefied petroleum gas (LPG) train at the Hassi Messaoud gas field, Sonatrach's CEO said on Monday.

The train will have a capacity of 8 million cubic metres per day, CEO Abdelmoumen Ould Kaddour told reporters, adding that the project was expected to come on line in 30 months.

Source : Reuters

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voda 12 november 2018 21:24

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US-Poland LNG deal way for Europe to ease reliance on Russia - Mr Perry

Reuters reported that Washington's energy secretary hailed a 24-year deal to deliver US liquefied natural gas (LNG) to Poland as signal for Europe on ensuring energy security and easing dependence on Russian supplies. The deal, the second multi-decade agreement with a US firm signed in two months, comes as Warsaw looks to diversify its gas supplies in an effort to wean itself off its heavy reliance on Russia amid tensions with Moscow. "This is a signal across Europe that this is how your energy future can be developed, the security of the country, the diversity of supply -- this is a great day for Europe," US energy secretary Mr Rick Perry said at a signing ceremony in Warsaw with Polish President Mr Andrzej Duda.

Poland, which currently sources about two-thirds of its gas from Kremlin-backed Russian energy giant Gazprom, is also eyeing imports from Norway and Qatar.

State-run gas firm PGNiG said it had sealed a two-tranche 24-year deal for LNG deliveries from the Texas-based Cheniere Marketing International, amounting to a total of 40.95 billion cubic meters of natural gas after regasification.

Mr Duda said that "This deal will provide Poland with energy security," adding that the agreement reflects "a real transatlantic partnership."

The deal with the US firm is due to take effect in 2019, three years before Warsaw's current contract with Gazprom for 10 billion cubic metres of natural gas per year is set to end.

Source : Reuters

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