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LNG demand rises in shipping, says Skangas

Norwegian LNG provider Skangas sees demand for LNG is on the rise in Nordics Marine Market, and the driving force behind this rise rests in supply to new vessels both in regular routes and in tramp/spot market. ‘The market has been waiting for the LNG bunkering vessels’, said the company, as LNG is the cleanest available marine fuel.

US crude oil exports almost double in 2017

US crude oil exports grew to an average of 1.1 million barrels per day in 2017, the second full year since restrictions on crude oil exports were removed. Crude oil exports in 2017 almost doubled in 2016, supported by increasing domestic crude oil production and expanded infrastructure, according to EIA.

US to fund projects for fuel cell technologies

The US Department of Energy has announced up to $32.5 million in federal funding for cost-shared research and development to advance solid oxide fuel cell technologies. SOFC R&D aims to create efficient, cost-effective electricity generation from  domestic coal and natural gas resources, with minimal use of water and near-zero atmospheric emissions of carbon dioxide and pollutants.

Global oil demand to increase in 2018, says IEA

In 2018, global oil demand is expected to increase by 1.5 mb/d, reaching 99.3 mb/d, from the estimated 97.8 mb/d in 2017, IEA said on its new Oil Market Report. The demand growth increase was the only significant change in the past month, with crude oil prices relatively stable for several weeks.

BP foresees strong compliance with 2020 sulphur cap

More than 90% of the world’s shipping fleet will comply with IMO sulphur cap entering into force in 2020, while only about 9% of the industry is likely to be non-compliant as the rule comes in effect, said the London-based oil and gas major BP, amid industry concerns of potential non-compliance.

The future of fuel oil towards 2020

Scrubbers will only play a minor role by the implementation date of the IMO 0.5% sulphur cap, in 1 January 2020. With this view in mind, there will be a significant demand shift across the barrel in less than two years’ time and fuel oil trade will be fundamentally affected, Gibson said in its weekly report.

Sri Lanka to get its first LNG terminal

As Sri Lanka Ports Authority Chairman Dr. Parakrama Dissanayake said, a Memorandum of Understanding between Sri Lanka, Japan and India on a LNG terminal and Floating Storage Regasification Unit will be signed  next week and the feasibility study will begin soon. 

More investments are required to improve FLNG projects

More investments are required for FLNG projects, in order to ensure project sanctioning and success. Despite the FLNG liquefaction long presences, only three units are in the water and operational or under commissioning as of 2018.

Energean sign deal with banks for Karish Development Project

Energean Oil & Gas announce that Energean Israel signed a Senior Credit Facility of up to $1.275 billion with Morgan Stanley, Natixis, Bank Hapoalim and Societe Generale as Mandated Lead Arrangers. The Facility Agreement will fund the development of the Karish offshore gas field over the next three years, with first gas production expected to set out in early 2021.


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