Tag: LNG

GasLog Ltd. announced an agreement with Methane Services Ltd., an affiliate of BG Group, to purchase three LNG carriers from MSL's fleet and to charter those ships back to MSL for six-year initial terms. MSL also will have options to extend the term of the time charters for two of the ships for a period of either three or five years at its election. The ships to be acquired will be nominated by MSL from an agreed group of six sister ships built in 2006 and 2007. GasLog supervised the construction of all six ships and has provided technical management for the ships since delivery. The aggregate cost to GasLog for the ships is expected to be approximately $468 million. Each LNG carrier to be acquired is modern, steam powered and has a capacity of 145,000 cubic meters. The Company estimates that upon their acquisition, these ships will represent approximately $426.3 million of incremental contracted revenue over their initial charter terms and add over $50.0 million per annum to GasLog's EBITDA1. Paul Wogan, CEO of GasLog, commented that "we are very pleased that we will be able to add these LNG carriers to our fleet as it again demonstrates our ...

The European Union will support with just over €1 million from the TEN-T Programme a series of studies to analyse the potential introduction of liquefied natural gas (LNG) infrastructure in Spain and France. The studies, selected for funding under the 2012 TEN-T Multi-Annual Call, aim at determining the feasibility of implementing LNG bunkering facilities in the Port of Roscoff (northwest France) and the Port of Santander (northern Spain). They take into account the conformity of the infrastructure and equipment with the standards for risk prevention, environmental protection and the eventual constraints, revealed by the impact assessments and the public inquiries. LNG is rapidly emerging as a more environmentally friendly fuel for the maritime sector and its uptake is encouraged by the European Union. The European market for LNG for maritime transport is presently limited and infrastructure to cater for the small-scale supply of LNG is almost non-existent. The findings of these studies will be an essential decision making tool for: a) the ferry operator, to start the construction and the retrofit of LNG vessels b) port authorities in Roscoff and Santander that will be able to plan the design and the implementation of LNG bunkering stations c) the authorities in ...

A groundswell of momentum is building in the US around the use of LNG as ship fuel as owners, ports and regulators, have realised the benefits of this emerging technology. "It used to be said that LNG was a chicken or egg problem," says Paal Johansen, who leads DNV GL's maritime business in the Americas, "but now it is looking as if we not only have the egg, but the chicken and the henhouse too. As we see this trend grow, DNV GL is working to ensure that owners can be confident that not only the technology their vessels need has been vetted, but that the supporting infrastructure and operational practices are well established." A combination of rising bunker prices, environmental awareness and regulations, growth in production and developing infrastructure have served as the tipping point which could see LNG establish itself as a viable primary fuel for commercial vessels in the US. "The US has tremendous natural gas resources, especially from unconventional sources, and production hit the highest levels on record in August 2013. Utilising this resource addresses the key concern in shipping - the rising cost of fuel oil, while at the same time reducing the industry's impact ...

The keel laying process for PETRONAS' first floating liquefied natural gas facility (PFLNG 1) has commenced this week, marking another significant milestone in the construction of the facility at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. The first block of the keel, the basic structure around which the hull of the FLNG vessel will be built, was laid on 6 January in the presence of the integrated project team led by PETRONAS with its partners, Technip and DSME. The keel laying signifies yet another significant achievement of the project in its construction phase," said Datuk Abdullah Karim, PETRONAS' Vice President and Venture Director of LNG Projects - Domestic, Gas & Power Business. "We would like to thank the project teams for their perseverance and dedication that led to this milestone in a safe manner, in line with our plans and expectations," he added. The construction of the PFLNG 1 facility, which commenced in June 2013 with the cutting of the steel for its hull, is scheduled to be completed in Quarter 4 of 2015, making it the world's first to be in operation. When operational, the facility will have a weight of about 125,000 tonnes and is 365 ...

Worthington Industries, Inc. announced that its Pressure Cylinders segment has signed an agreement to acquire a 75% stake in ARITAS, one of Europe's leading LNG and cryogenic technology companies offering a broad portfolio of LNG products, cryogenic vessels, systems and services. Located in Istanbul, Turkey, ARITAS employs nearly 300 people and generated sales of approximately $40 million for its fiscal year ending Dec. 31, 2013. The transaction is awaiting Turkish government approval, which is expected to be completed later this month. ARITAS' LNG products account for a majority of sales. For nearly a decade, ARITAS has been building and servicing the virtual LNG pipeline in Turkey via LNG transport trailers, LNG ISO containers, LNG bulk tanks and LNG satellite stations for re-gasification. ARITAS is also an emerging global leader in LNG fueling systems, including those for natural gas powered marine vessels. ARITAS' product portfolio includes an array of industrial gas products including engineered tanks holding up to 500,000 liters, transport trailers, bulk tanks and microbulk storage, which will be complemented by Worthington's home grown liquid cylinder offering. "We are very excited to add ARITAS' LNG and cryogenics capabilities and reputation for quality.  We believe they will dramatically increase our ability to ...

Small-scale infrastructure for LNG chain a priority project for EU transport The LNG Rotterdam-Gothenburg project has been acknowledged by the European Commission as a priority project for European transport infrastructure development.European Commission grants 34 million euro for the development of a small-scale LNG chain in Rotterdam and Gothenburg, accommodating LNG supply for cleaner maritime transportThe collaboration between the ports for the infrastructure enables shipping companies to switch to Liquefied Natural Gas (LNG)-powered vesselsLNG allows the shipping industry to meet the stringent 2015 emission requirements for the North Sea, English Channel and Baltic SeaThe Commission grants 34 million euro (SEK 305 million) to develop small-scale infrastructure for liquefied natural gas (LNG) as an efficient and cleaner alternative for fuel oil and diesel in the North and Baltic Sea region. The Dutch-Swedish LNG collaboration involves the ports of Rotterdam and Gothenburg, together with gas infrastructure companies Gasunie (the Netherlands) and Swedegas (Sweden) and the international tank storage provider Vopak.The decision of the Commission represents a clear support for the realization of this initiative, which aims at creating a new supply infrastructure for LNG in the maritime region of North Sea and Baltic Sea by 2015. LNG Rotterdam-Gothenburg is considered to be one ...

DNV GL launches recommendations for safe and efficient LNG bunkering One of the key hurdles to the increased global use of ships fuelled by Liquefied Natural Gas (LNG) is the lack of harmonisation of bunkering operations. "DNV GL is therefore today launching a Recommended Practice for authorities, LNG bunker suppliers and ship operators which provides guidance on how LNG bunkering can be undertaken in a safe and efficient manner," says Lars Petter Blikom, DNV GL's LNG director.LNG-fuelled ships have logged over 130 ship-years of operation in Norwegian waters and LNG's attractiveness and stability as a fuel have been thoroughly demonstrated. Globally too, operators, suppliers and regulators have gained significant experience in all aspects of LNG-fuelled ship operations in recent years. However, the process for developing the required infrastructure has not been standardised - leaving the industry with many open questions.Currently, 83 LNG-fuelled ships are in operation or on order worldwide. These range from passenger ferries, Coast Guard ships and cargo vessels to tankers and platform supply vessels. Estimates put the global LNG-fuelled fleet at 3,200 by the year 2025. With the EU poised to invest in helping to equip 139 seaports and inland ports with LNG bunker stations by 2025, ...

Drydocks World and Shell to promote alternative sources of energy and cooperate in Dubai LNG fuel supply

Crowley enters the LNG market

Germany: JWP II container terminal to announce feasibility study