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Lng Business

BG Global LNG Appoints New VP

BG Global LNG appointed David Maxwell to the leadership team of the Global LNG business, according to a Chron.com report. As vice president and general manager, LNG Business Development, Maxwell will be responsible for developing new LNG opportunities in Asia Pacific for BG as well as helping to realize existing opportunities. Maxwell was with Woodside where he was director, Gas and Marketing and was involved in the development of Woodside's natural gas and LNG portfolio. He brings an in-depth knowledge of the oil and gas markets in the Asia Pacific region. Prior to this he was with Santos and had responsibility for marketing and business development. Maxwell will be based in BG's offices in Singapore. Source: Chron.com


ABB Wins LNG Propulsion Contract

Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years


World's First FLNG Vessel Steel-Cutting

A steel cutting ceremony for the hull of Petronas' first Floating Liquid Natural Gas (FLNG) held at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. The steel cutting event signifies a major milestone for the project, which according to Petronas is the world’s first, and the construction phase now commences to meet its commissioning schedule in 2015. The ceremony was led by Petronas’ President and Group CEO


Exmar Optimistic About Gas Carrier Market into 2015

Photo: Exmar

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter and was expected to remain good in spite of new vessels being delivered in 2015. The group said its LNG business unit generated $8.5 million in operating profit in the third quarter, up from $7.8 million last year, while its LPG fleet saw an earnings spike to $15.6 million from $5


New Report Finds LNG Future Bright

The new report “The Drewry Annual LNG Shipping Market Review and Forecast” finds one sector of shipping with a bright future. The last thirty months has seen a massive surge in interest in the previously conservative LNG business with unprecedented levels of ordering activity for new vessels, much increased interest in new supply projects and new/expanded, terminals. With a growing fleet and more trading opportunities, the traditional structure of shipping could gradually be


Teekay LNG Partners Announces Change to Board of Directors

Teekay LNG Partners L.P. announced that Beverlee F. Park has accepted an invitation to join Teekay LNG's Board of Directors and to Chair its Audit Committee, effective March 11, 2014. Park replaces Robert E. Boyd who retired today from the Teekay LNG Board after serving as a Director and Chair of its Audit Committee since 2005. Park has extensive management and board experience in a variety of industry sectors. She has served at the board, CEO, COO and CFO level in publicly-traded


Agreement to Acquire Arrow Energy Ltd

The Board of Arrow Energy Limited (Arrow) to unanimously recommend its shareholders vote in favour of the joint proposal to acquire 100% of Arrow shares. CS CSG (Australia) Pty Ltd, the 50/50 joint venture company owned by Shell and a subsidiary of PetroChina, has entered into an agreement with Arrow for the proposed acquisition under which it has agreed to pay $4.3 cash per share for all of the shares in Arrow, representing a total consideration of $3.2b


MISC Sees Soft Shipping Rates Ahead

MISC Bhd expects freight rates for crude oil to remain soft over the next two years as competitors put more new tankers to sea. MISC earns 90% of its profits from shipping oil and liquefied natural gas (LNG). A subsidiary of Petroliam Nasional Bhd (Petronas), the world's largest carrier of LNG. LNG is shipped under long-term contracts, but MISC still faces significant exposure to oil freight rates, with crude oil tankers accounting for 40% of its profits.


Leif Höegh & Co. Concludes Exit From Reefers

Leif Höegh & Co. ASA (LHC) has sold its 36% shareholding in Lady Navigation Inc. to Frigo Navigation Ltd. on private terms. Lady Navigation Inc. owns the two reefer vessels Lady Racisce and Lady Korcula. The "Lady" vessels were built in 2000 and have a capacity of 590 000 cbft. Transfer of the shares in Lady Navigation Inc. to the new owner was concluded on 30 June and marks LHC's final exit from the reefer segment. LHC sold its commercial reefer operation, Cool Carriers, to


MHI to Establish LNG Project Management Department

Effective June 1, Mitsubishi Heavy Industries, Ltd. (MHI) will establish LNG Project Management Department, within the Environmental and Chemical Plant Project Management Division of the Company's Engineering Headquarters. The new department will be dedicated to market exploration of LNG (liquefied natural gas) related business opportunities. By establishing the new unit, MHI aims to expeditiously respond to the growing demand for LNG related facilities that is being fueled by rapid expansion


CFE to Lift Eight LNG Cargoes

Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume, selling seven cargoes, while oil major BP sold the remaining cargo, two traders said.


Yamal LNG Inks Deal with Gazprom to Sell LNG in Asia

A trading subsidary of Russian gas producer Yamal LNG has signed a long-term supply contract with a trading subsidiary of Gazprom, under which liquefied natural gas (LNG) produced by Yamal LNG will be sold in Asia, Yamal LNG said on Friday.  


Maran Orders 4 LNGCs from DSME

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) will build four large Liquefied Natural Gas Carriers (LNGC) for Maran Gas.   The four LNGCs are expected to be delivered between 2017 and 2019 and will be built with the NO96-GW technology


Tepco, Chubu Buying 6 LNG cargoes from Vitol

Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender, three traders said on Friday. "They are waiting for the government to confirm


Chevron, SK LNG Trading Ink Deal for LNG Supply

Logo

Chevron Corporation today announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement (SPA) with SK LNG Trading Pte Ltd (SK). Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4


Sanctions Dampen Traffic on Russia's Arctic Route

Photo: U.S. Naval Istitute

Often heralded as new shipping lane, Arctic shipments fall. Western sanctions on Russia are restricting the Arctic shipping route along its north coast to domestic cargoes and energy exports with many foreign firms staying away after test voyages on a fabled short-cut between Europe and Asia


N-KOM Sees Increased Tanker Business

Photo: N-KOM

Nakilat-Keppel Offshore & Marine (N-KOM), which recently celebrated its fourth year in operation, has seen an increasing number of tankers dry docking at its facility in Qatar. With the introduction of de-mucking and de-slopping facilities


VT Halter Lays Keel for Crowley LNG ConRo Ship

Photo courtesy of VT Halter Marine

The keel for the first of two liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ships for Crowley Maritime Corp.’s liner services group was laid during a ceremony at ship-builder VT Halter Marine, Inc.’s facility in Pascagoula, Miss.


Wartsila Wins LNG Systems Contracts for Four Ships

The Wärtsilä reliquefaction plant will reliquefy 70% of the boil-off gas from the ships LNG cargo and return it to the cargo tanks, while the balance is fed by the gas handling system to the engines for propulsion purposes. (Image: courtesy Wartsila)

A series of four LNG carriers being built by the Hudong-Zhongua Shipbuilding yard in China will feature Wärtsilä LNG reliquefaction plants and gas handling systems.   The ships are owned by Bermuda based Teekay Corporation, China LNG Shipping (CLNG)


Change in CEO at Golar LNG

Golar Ship

  Golar LNG Limited today announced that Doug Arnell has decided to step down as CEO of Golar on February 1, 2015. Mr. Arnell's decision is driven by a personal wish to return with his family to his home country of Canada. Mr. Arnell will be succeeded by Gary Smith


GTT, Conrad Shipyard Ink Deal for LNG Barges and Bunker Tanks

GTT signs license agreement with Conrad Shipyard for membrane containment systems for LNG barges and bunker tanks   Gaztransport & Technigaz (GTT) announced that its U.S. subsidiary, GTT North America, has signed a Technical Assistance and License Agreement (TALA) with U.S


Smith Named CEO of Golar LNG

Photo: Golar LNG

Gary Smith will take over as CEO of Golar LNG limited, taking over for Doug Arnell, who will step down on February 1, 2015.   Smith brings a track record of leadership and operational management in the mid-stream oil and gas, shipping and LNG businesses


GE Electric Propulsion Equipment for LNG Carriers

GE Power Conversion receives first order in Japan from Kawasaki Heavy for electric propulsion motor equipment for LNG vessels   GE’s Power Conversion business has received a new order from Kawasaki Heavy Industries, Ltd. for electric power and propulsion systems for two LNG carriers


Trafigura Fixes Australian LNG Cargo

Swiss-trading house Trafigura has purchased one of three liquefied natural gas (LNG) cargoes offered by Australia's North West Shelf export plant as part of a tender awarded late last week, four traders said. The winners of the remaining two cargoes are thought to be a mid-size oil major and a


Golar LNG Secures Charters for Carrier Duo

Golar Arctic

  Golar LNG announced today that it has been awarded 2 time charters by Nigeria LNG Ltd ("NLNG") to employ the recently delivered Golar Frost and Golar Crystal. Employment of both vessels under these contracts will commence in January 2015 and will continue for a duration of






 
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