Tag: LNG

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.

The Dutch Gate LNG terminal announced that it achieved a record monthly quantity of 698.927.966 Nm3 of regasified LNG during November. This amounts for the vast majority of the booked monthly capacity. Namely, Dutch Gate LNG belongs to Gasunie and Vopak and is one of Europe’s largest LNG terminals. The LNG facility combines three 180,000-cbm storage tanks and up to now has an annual regasification capacity of 12 Bcm – equal to around 180 cargoes per year. During November the record, as stated above, was 698.927.966 Nm3 of regasified LNG which equals to 76% of the booked monthly capacity. Moreover, Gate terminal is currently testing the market's interest to develop its export capacity by up to 2 BCM annually. This will be possible by installing additional equipment. As far as the gate terminal is concerned, it is Europe’s LNG hub; a professional access gateway for LNG that is supplied from across the world. Gate terminal receives LNG for its customers, stores it, regasifies it and then supplies  it to the gas transport network for distribution to households and industry. This first Dutch LNG import terminal has been operational since 2011 and has an annual throughput capacity of 12 billion m3 of gas per year. ...

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.