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Croatia approves construction of LNG terminal at Krk

Croatia gave the green light to the construction of an LNG terminal on the island of Krk. Namely, the country passed a law last week, enabling the construction, which will be partly funded by the EU. The EU will provide 101.4 million euros for the project, with the remainder being financed from equity and loans.

Trade associations call IMO to address 2020 sulphur cap challenges

BIMCO, ICS, INTERCARGO, INTERTANKO and WSC, called the IMO to advance on challenges regarding the global sulphur cap, to avoid risking safety or unfairly penalise individual ships. The trade associations have submitted a number of proposals to IMO, aiming to help smooth the implementation of the global 0.5% sulphur.

IBIA comments on bunker quality issues from US Gulf

A significant number of ships have experienced serious operational problems, such as chiefly sticking fuel pumps and in some cases filter blockages, after lifting bunker fuels from the US Gulf since late March and during April-May. Commenting on the situation, IBIA said that these fuels possibly contravene MARPOL Annex VI. 

Oil barrel prices to average $71 per barrel in 2018

In its June 2018 update of the Short-Term Energy Outlook, EIA predicts that crude oil prices will average $71 per barrel in 2018 and $68/b in 2019. The 2019 forecast price is also $2/b higher than in the May STEO.  Crude oil prices have increased greatly as global oil inventories have generally declined from January 2017 through April 2018.

Global LNG market moves from oversupply to rebalancing

Fears of an oversupplied LNG market are beginning to ease as indications point towards a more modest rebalancing, says Wood Mackenzie. The analysis shows that global LNG markets will remain tight during 2018, despite supply being set to increase throughout the winter.

Investments in LNG have far to go for smaller ports

While Westwood Global Energy Group expects a turnover of USD 236 billion in the global LNG market from 2018 to 2022, a new report, prepared by COWI for the Port of Esbjerg, indicates that it would be inappropriate to invest in LNG at the Port at the current time, as demand is limited in the small and medium-sized ports.

Natural gas consumption and production grew at fastest rates in 2017

2017 was a bumper year for natural gas, with consumption and production both increasing at their fastest rates since the aftermath of the financial crises, according to BP’s statistical review of world energy. The growth in consumption was led by Asia, mostly China (15.1%, 31 bcm), supported by Middle East and Europe.

Shell sustainability report: Key LNG activities in 2017

In its Sustainability report for 2017, oil major Shell outlined its key activities related to LNG, as part of its overall efforts for a lower-carbon energy system. Shell is the largest LNG marketer of all independent oil and gas companies, selling LNG to around 70 customers in about 25 countries.

BP statistics of world energy 2017: Two steps forward, one step back

Global primary energy consumption grew strongly in 2017, led by natural gas and renewables, with coal’s share of the energy mix continuing to decline. The vast majority of the increase came from the developing world, accounting for nearly 80% of the expansion, according to BP’s statistical review of world energy for 2017.

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