Tsakos Energy Navigation Ltd. ("TEN") (NYSE: TNP) has announced a four-year time charter for the 2007-built 150,000 m3 LNG carrier Neo Energy to a major international energy concern. The charter is expected to commence in the first quarter of next year upon expiration of the vessel’s existing employment. This new charter, in line with current market levels, is anticipated to make a significant contribution to the bottom line over its duration. “The operational performance of the Neo Energy since delivery in 2007 coupled with the current strength in the LNG markets has enabled us to secure an attractive employment for the vessel over the next four years,” stated Mr. Nikolas P. Tsakos, President and Chief Executive Officer of TEN. “The LNG market remains a close-knit and selective sector with demanding operating procedures. TEN has qualified as a reliable owner and operator of LNG tonnage and gained the acceptance of the LNG community worldwide. We view LNG transportation as integral in the overall energy chain, and we will continue to explore tangible opportunities in order to expand our footprint in this promising sector,” Mr. Tsakos concluded.
Crowley Maritime Corporation's petroleum services group is entering the Liquefied Natural Gas (LNG) market by acquiring Carib Energy LLC. Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S. Department of Energy (DOE) for LNG transportation from the U.S. into Free Trade Agreement (FTA) countries. While Crowley’s overall strategic focus on the LNG market will span several of its diversified business
China has made concrete progress in shipbuilding. In September 2007, the first LNG (Liquefied Natural Gas) ship made by China State Shipbuilding Corporation (CSSC) will be delivered, reported the state-run Xinhua News Agency on February 19, 2007. The LNG ship has a capacity of around 47,199 cubic meter and is currently under-construction by Hudong-Zhonghua Shipbuilding, an arm of CSSC, the topmost shipping group in China and third largest in the world.
Tsakos Energy Navigation Limited (TEN) announced that it had signed a contract for the construction of a Liquefied Natural Gas (LNG) carrier. The 150,000 cubic meter capacity vessel will be built by Hyundai Heavy Industries in Korea, and is scheduled for delivery in March of 2007. Today's contract represents TEN's first newbuilding order in the rapidly growing LNG market. TEN also expects to receive 6 suezmaxes and 6 product carriers between 2004 and 2007 and remains engaged in
A bright future is forecast for the LNG industry, as long-term gas demand drives major investment in global LNG facilities. A new report from energy business advisors, Douglas-Westwood (DW), predicts the Pacific basin will be the main contributor to a ten year global investment high of $26 billion per annum by 2015. The report is being launched this week at the 6th FLNG Asia Pacific Summit, Singapore and the 5th Annual Gas Storage Conference, London
Qatar Liquefied Gas Company Limited (Qatargas) and Petronas LNG (UK) Limited have signed a 5-year Sales and Purchase Agreement (SPA) for shipment of an annual LNG volume of 1.14 million tones, to the UK, effective January 2014. The LNG will be supplied from Qatargas 4 (Train 7), a joint venture between Qatar Petroleum and Shell which started production in January 2011, and will be delivered on board Q-Flex LNG Vessels to Petronas’ Dragon LNG Terminal located in Milford Haven
Hamworthy Oil & Gas Systems win contract for LNG regasification technology for a third Höegh LNG Floating Storage and Regasification Unit (FSRU) Working together with Sinopacific Offshore and Engineering (SOE) Wärtsilä Hamworthy will design and supply the system concept whilst the key equipment and fabrication will be supplied by SOE. The floating regasification market is experiencing significant uptake and Höegh have projected annual growth in the LNG market of
The 160,000 m3 cargo - which left Soyo aboard the SS SONANGOL SAMBIZANGA last month - has been safely unloaded at Petrobras' regasification terminal in Guanabara Bay, Rio de Janeiro. CEO, Angola LNG Marketing Ltd. said: "Our main priority is safe and reliable production and delivery of Angolan LNG to the world. We have demonstrated this with our first cargo." At full production it is expected that over 70 cargoes per year will leave the Angola LNG plant, supplying 5
Company plans to supply LNG to the northeastern U.S. via its advance LNG Project GDF SUEZ Gas NA has announced the advanceLNG Project, an initiative to provide attractively priced LNG to a wide array of customers in the U.S. Northeast. Starting today through December 31, 2013, GDF SUEZ Gas NA is accepting non-binding bids for LNG supply from the proposed project. While LNG from GDF SUEZ Gas NA's facility in Everett
Gazprom inform that Alexey Miller, Chairman of the Gazprom Management Committee and Ben van Beurden, Chief Executive Officer of Shell, met in Sochi and signed a document that that envisages the preparation of FEED documentation for the third LNG production train within the Sakhalin II project. “The global LNG market is booming – primarily in Asian countries. Novel LNG production capacities are the key to achieving a strong position
Following first steel cutting in late 2012, Shell’s Prelude Floating Liquefied Natural Gas (FLNG) unit continues to take shape in Samsung’s Geoje shipyard in Korea, Douglas Westwood (DW) said in its Monday report. At 488 meters long by 74 meters wide and with an LNG processing
Sovcomflot, Russia’s largest shipping company, has taken delivery of its latest LNG carrier, the Velikiy Novgorod, from South Korea’s STX Offshore & Shipbuilding. The ship is equipped with a diesel-electric, dual-fuel propulsion system consisting of 2 × MAN 8L51/60DF and 2
With its latest offering, Videotel said now provides a more extensive portfolio of training for the LNG sector. Working with experts across the globe – BP Shipping, Shell, Maersk and SIGTTO, among others – the company said it has created a package of training covering the essentials
By Oleg Vukmanovic and Henning Gloystein, Reuters As Russia tightened its grip on Ukraine's Crimea region this month, U.S. and European Union officials were urging the Obama Administration to speed up approvals of more liquefied natural gas (LNG) export terminals.
Studies on liquefied natural gas (LNG) bunkering infrastructure in Spain and France get EU grant. The European Union will support with just over €1 million from the TEN-T Programme a series of studies to analyse the potential introduction of liquefied natural gas (LNG) infrastructure
Wärtsilä says it has signed a turnkey contract to supply a liquefied natural gas (LNG) receiving terminal to be built in Tornio, northern Finland. The contract, valued at approximately EUR 100 million, has been made with Manga LNG Oy
Nakilat, Qatargas and RasGas Company Limited will convert a Q-Max vessel as a pilot project making it capable of running on LNG and reducing the ship’s exhaust gas and greenhouse gas emissions. Qatari shipping company Nakilat and Qatari LNG producers Qatargas and RasGas Company Limited
Wison Offshore & Marine has announced the award of a binding agreement with Vessel Gasification Solutions (VGS) of New Jersey, U.S.A., for the supply of the industry's first barge-based floating LNG regasification unit (FRU) to be installed offshore India.
Cameron LNG, one of the most advanced US LNG export projects, (promoted by GDF SUEZ as a shareholder and a capacity holder), has been granted conditional non-Free Trade Agreement (FTA) approval from the US Department of Energy (DOE). The Non-FTA agreement will enable GDF SUEZ to export LNG
Significant Growth in FLNG Market as Export Projects Gain Traction; Natural Gas to Lead Energy Demand There are many different views on the future of energy supplies, but strong agreement in two areas; over the next 25 years or so population growth and GDP growth in the developing economies
Ziff Energy and Gas Processing Management Inc. analyze the gas growth areas of the Western Canadian Sedimentary Basin in Alberta and British Columbia. Ziff Energy, a division of HSB Solomon Associates LLC (Solomon), and Gas Processing Management Inc
W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has been named the exclusive North American marine distributor for Perma-Pipe, Inc., the largest North American manufacturer of pre-insulated piping
Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations.
Reuters - Finnish gas company Gasum is to acquire 51 percent of Norwegian Skangass's distribution operations from Lyse Corporation as it seeks to improve the efficiency of its liquefied natural gas (LNG) network. Gasum said on Monday that the deal
By Oleg Vukmanovic and Jacob Gronholt-Pedersen, Reuters Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals.