Tag: gas carriers

Worldwide discoveries of conventional oil and gas continue to present promising growth, as new finds total to an overall 6.7 billion barrels of oil equivalent (boe) in the first half of 2019, according to the mid-year assessment of upstream data by Rystad Energy.

The Society of International Gas Tanker & Terminal Operators Ltd (SIGTTO) published the first output from the Human Element Committee, 'Recommendations for Management of Cargo Alarm Systems', recommending the implementation of alarm management philosophies for cargo alarm systems on gas carriers.

According to research by natural resources consultancy Wood Mackenzie, Malaysia provides some of the most material and attractive upstream investment opportunities in Southeast Asia, primarily because of the need for additional gas supply.

The American Petroleum Institute released its latest Monthly Statistical Report and API Industry Outlook outlining the increased growth and resiliency of the US natural gas and oil industry. Namely, US crude oil production reached a new all-time high of 12.2 million barrels per day in May 2019.

Fire took place at the SPD9 platform, in the South Pars gas field, on June 12. About 14 people were working at the platform the moment of the fire, and after the explosion they were transported to Asaluyeh, Southern Province of Bushehr, by helicopter. No casualties were reported, while the fire has now been contained.

Reliance Industries Limited and BP announced the sanction of the MJ project in Block KG D6, offshore the east coast of India. MJ is the third of three new projects in the Block KG D6 and its approval comes after sanctions for the development of 'R-Series' deep-water gas field in June 2017 and for the Satellites cluster in April 2018.

BP published its 68th annual Statistical Review of World Energy, reporting that global primary energy consumption grew fast in 2018, driven by natural gas and renewables. However, carbon emissions grew at their highest rate for seven years.

As IEA informs in its Gas 2019 report, global demand for natural gas will continue its growth over the next five years, due to strong consumption in fast-growing Asian economies and driven by the continued development of the international gas trade. Namely, demand for natural gas increased 4.6% in 2018, which is its fastest annual pace since 2010.

GasLog and GasLog Partners decided to assume commercial control of their ships currently operating in the LNG carrier spot market through The Cool Pool. The Cool Pool is an LNG carrier pooling agreement between GasLog and Golar, focusing on spot fixtures of up to 12 months in duration.

As EIA informs, US production of hydrocarbon gas liquids reached 5 million barrels per day (b/d) in 2018, which is an increase of over 0.5 million b/d (13%) compared to 2017 levels. HGLs accounted for more than a quarter of total US petroleum products output in 2018.