Tag: LNG

According to the Cypriot Transport Minister, Marios Demetriades, the new under-secretariat for maritime affairs is planned to be located in Limassol, as the majority of the shipping companies are based there.

Under this agreement, the two countries aim to advance Alaska LNG which is Alaska’s strategic gas infrastructure project. A boost in Alaska’s economy and LNG trade between Alaska and China is expected with the parties’ cooperation on LNG marketing, financing and investment.

ENGIE announced the agreement with Total for the sale of its upstream and midstream LNG activities, liquefaction, shipping and international LNG trading. Additionally, Total and Engie will cooperate to promote the use of biogas and renewable hydrogen.

According to the Cypriot Transport Minister, Marios Demetriades, the Cyprus government has the shipping industry as a top priority. For that reason, the Cyprus government plan to create a self-standing Deputy Ministry of Shipping as from March 2018, the Minister noted.

Petrobras announced the signing of a Letter Of Intent with BP to jointly identify and evaluate business opportunities involving assets or ventures in Brazil and abroad, with the purpose of developing a potential strategic alliance between the companies.

ENGIE, a French electricity company, announced the renewal of the regasification and storage services contract with Chinese energy group CNOOC for the coming winter season. This will be provided by the FSRU GDF SUEZ Cape Ann in the port of Tianjin.

The pressure on LNG shipping spot rates will continue for another year on account of strong fleet growth. However, rates should strengthen from 2019, as fleet growth slows and trade remains strong, according to global shipping consultancy Drewry.

India's Minister of Petroleum & Natural Gas Shri Dharmendra Pradhan is currently in Japan to enhance the bilateral engagements in the Oil and Gas sectors within the overall framework of India-Japan Energy Dialogue. The aim of the visit, among others, is to support cooperation in establishing an efficient and balanced LNG market.

Bureau Veritas announced that it has published a new Rule (NR645) for the classification of Floating Storage and Regasification Units, which sets out technical requirements to address technical and operational issues. A FSRU notation for gas trading is also available.

Experts from Braemar LNG Group gave a full audience a short overview relating the technical, commercial and market trends of the often very complex world of LNG shipping, including engineering requirements around containment systems and propulsion options.