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Port Moresby power station opens its doors

According to the LNG engineer Clough, the Port Moresby Power Station (POM Power Station) officially opened its doors. Namely, the natural gas fueled station is located in Papua New Guinea and considered to be the first ever utility-scale gas engine project in the region.

LNG to worsen shipping’s impact on climate, report finds

A recently published report by the International Council on Clean Transportation (ICCT) and commissioned by the environmental lobby group Stand.earth, aimed to ‘examine the lifecycle GHG emissions from marine fuels, including a previously poorly understood source of climate emissions from LNG-powered ships- the unintentional releases of the climate super-pollutant methane from ship engines, known as methane slip.’

Cheniere ships 1,000th LNG cargo

Houston-based Cheniere Energy announced it has produced and exported its 1000th cargo of LNG, what the company claims to be an industry record, making it the fastest producer in the world to reach this milestone.The 1000th cargo was exported within a four-year time period after startup.

India seeks lower LNG-deal prices with Qatar

India wants to renegotiate the long-term contract price of LNG it buys from Qatar, according to Oil Minister Dharmendra Pradhan. Currently, India imports 8.5 million tonnes of LNG annually under long-term supply deals with Qatar.

Sediment problems within VLSFOs detected at six ports

As the 2020 sulphur cap entered into force, the shipping industry saw the introduction of Very Low Sulphur Fuel Oils (VLSFOs), which has been increasing since October 2019. However, VPS notes that a rise has been observed in fuel instability leading to sediment formation from these fuels. 

Coronavirus may have short term effects on the oil market

The Tanker Research & Consulting department at Poten & Partners recently informed on the potential impact of the Coronavirus outbreak on the tanker market. In fact, Poten & Partners highlight that it is highly uncertain at this point how the virus outbreak, which started in the city of Wuhan in China and has spread across several countries in Asia and the world, will further develop and what the implications will be on the Chinese as well as the global economy.

WoodMac: India’s oil demand to grow in 2020

Despite the fact that certain ports in India have experienced lack of low-sulphur compliant fuel oil, India’s oil industry in general is estimated to grow during 2020. According to Wood Mackenzie, due to the increased demand of India’s oil products by about 220 kb/d, India will face a beneficial year.

IMO urged to act after findings on VLSFO black carbon emissions

The Clean Arctic Alliance has called the IMO to support an immediate switch to distillate fuels for ships in the Arctic and develop a global rule prohibiting fuels with high Black Carbon emissions, after a study revealing that some of the new VLSFOs will actually lead to a surge in the emissions of Black Carbon. 

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