Australia became the world’s largest exporter of LNG, for the first time in November, as it surpassed Qatar. This comes after the beginning of several export projects in the country over the past three years, such as the Ichthys LNF project off Australia’s northern coast.
US LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making the country the third largest in the world behind Australia and Qatar, according to EIA forecasts. Currently, US LNG export capacity stands at 3.6 Bcf/d.
South Korean major shipyards have shown decent performances during 2018, as orders for LNG carriers are increasing. Namely, until now 52 orders for LNG carriers had been made, with Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries leading the way.
According to the North P&I Club, India is imposing customs fines on LNG carriers for cargo shortages upon discharge at ports in Gujarat. These fines allege a cargo shortage when a vessel does not discharge the entire quantity of LNG cargo detailed on the bill of lading.
ABS signed an MOU with the Korea Marine Equipment Research Institute (KOMERI) to create a new facility for improving the safety of LNG as fuel. It aspires to enable shipowners to test fuel gas and bunkering systems, under actual loading conditions, before installation onboard.
The demand for Europe small-scale LNG market is projected to grow from 1,902.60 million Euros in 2020 to 5,818.75 million Euros by 2030, while actuating at an estimated CAGR of 11.8% from 2020 to 2030, according to Energias Market Research.
Petronas and Vitol signed binding Heads of Agreement (HOA) for long-term LNG sale and purchase (SPA) agreement, on 1 October 2018. According to the agreement, Petronas will supply Vitol with approximately up to 0.8 million tonnes per annum for a period of up to 15 years on both Delivered Ex-Ship (DES) and Free on Board (FOB) basis, as from 2024.
Singapore based SSB Cryogenic Services (SSB) signed a $50m agreement with Global Petro Storage (GPS) Singapore to develop small-scale LNG supply chain solutions in Southeast Asia.
Gasum, is a Finnish expert in natural energy gases, and is renaming Skangas company since by October it holds the 100% of Skangas company. Altering its name will enhance the Gasum brand in the Nordic countries and the position of Gasum as the leading provider of LNG in the region. All Skangas companies will be renamed to Gasum. However, the business ID codes or contact details are not to be altered.
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