LNG Report: Floating Liquefaction & Regasification
International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector. Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
Caterpillar Names Bonfield CFO
Caterpillar Inc. announced today its board of directors has appointed Andrew Bonfield as chief financial officer (CFO) effective September 1, 2018. Bonfield will succeed Brad Halverson, whose retirement became effective May 4, 2018.Bonfield brings more than three decades of financial expertise to the role, most recently serving as Group CFO and board member of National Grid plc, a British multinational electricity and gas utility company.Prior to Bonfield's eight years at National Grid, he was CFO at British confectionary company Cadbury plc.
Finalists of Wind Propulsion Innovations Awards
The International Windship Association (IWSA) has announced the shortlist, selected by shipping industry experts, for the inaugural Wind Propulsion Innovation Awards 2016 and voting is now open to everyone to select the winners in three categories – Innovation, Technology User and Research. The Lifetime Achievement Award is a closed vote for IWSA members. The Awards will be presented at a ceremony at the SMM2016 on 8th September 2016 in Hamburg. The Wind Propulsion Innovation…
Shell in Staff Cut Discussions in Australia
Shell has started discussions with employees in Australia about job reductions, the company said on Wednesday, as part of plans to cut 10,300 jobs worldwide to lower costs. "Shell last week commenced conversations with employees about business efficiency and staffing levels - as a result of combining it with the previously BG-owned QGC - a process that will lead to job reductions," a spokesman said. Shell is in the process of integrating assets it acquired as part of its $50 billion takeover of gas producer BG Group, including BG's Australian subsidiary QGC.
Shell to Close BG UK HQ by Year End
Royal Dutch Shell will close the head office of BG Group, the gas producer it agreed to acquire for $50 billion in February, by the end of the year, it said on Monday, as part of a plan to save costs and cut 10,300 jobs worldwide. The oil major will also offer voluntary redundancy packages to staff at the BG headquarters in Reading, near London, and to Shell staff in the UK. This follows a similar announcement made to Dutch staff earlier this month. The oil company is under intense pressure to rein in costs as a slump in oil prices has hit its profits.
Shell Names Top Exec to Head BG During Integration
Royal Dutch Shell's top executive planning the integration of BG Group will become transitional CEO of BG after expected completion of the $48 billion acquisition next month, company sources said. The appointment of Dutchman Huibert Vigeveno to oversee the complex merger of the two global businesses comes as no surprise. Vigeveno was appointed last August to spearhead the joint Shell-BG integration committee along with BG's Sinead Lynch, and had previously headed Shell's operations in China and had also worked for the Anglo-Dutch company in Brazil, two key markets for the combined group.
Dana Gas Announces New Senior Management
Dana Gas PJSC, a publicly listed natural gas company in the Middle East, has announced several key senior management appointments. Chris Hearne was appointed as the Chief Financial Officer of the company on January 4, 2016. Prior to joining Dana Gas, Hearne was with Serica Energy plc, an international oil exploration and production company listed on the AIM market in London, where he served as Chief Financial Officer and Director from 2005. Hearne has over 20 years’ experience within the oil industry having been CFO and Senior Vice President of Erin Energy…
Cheniere Begins Production At Louisiana LNG Terminal
Houston-based Cheniere Energy Inc has began production at what will become the first U.S. terminal to export natural gas from shale formations. It has officially flipped the switch at its liquified natural gas (LNG) export terminal in Louisiana, bringing production online to fill its first LNG export cargo set for January 2016. According to Bloomberg, Cheniere Energy is receiving about 50 million cubic feet of natural gas a day. The company is chilling the natural gas into liquefied natural gas, and then storing it in tanks.
LNG Ltd Appoints Chief Development & CTO
Liquefied Natural Gas Limited has announced the appointment of Anthony Gelotti as Chief Development Officer based in Houston, Texas, USA. John Baguley, Chief Operating Officer for Magnolia LNG will assume the additional responsibilities of LNGL Chief Technical Officer. Dr Nimalan Gnanendran has been promoted to the position of LNGL Technology Manager. The above appointments are effective December 1, 2015. Gelotti’s responsibilities will include assisting in the close‐out of the full production capacity of Magnolia LNG…
Shell to Retain Four Senior BG Execs post-Merger
Royal Dutch Shell plans to retain four members of BG Group's executive team after the companies' planned merger next year, according to an internal memo seen by Reuters on Monday. The memo indictates that the planned $70 billion takeover of BG by Shell remains on track. Shell this month sought to ease investor concerns over the deal by announcing costs cuts and benefits that would make it work despite lower oil prices. According to the Shell document, BG's Chief Operating Officer Sami Iskander will become executive vice president for joint ventures.
Anadarko Names Executive VP, Global LNG
Mitchell W. Ingram has been selected by the board of directors of Anadarko Petroleum Corporation to fill the newly created position of Executive Vice President, Global LNG. Ingram joins Anadarko's Executive Committee effective immediately, reporting to Anadarko Chairman, President and CEO Al Walker. Ingram has 28 years of experience in the oil and natural gas industry. Since 2006, Ingram has been with BG Group, where he served as a member of the company's Executive Committee in the role of Executive Vice President – Technical.
GasLog Posts Good Results
GasLog Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers, increased quarterly cash distribution by 10% to $0.478 per unit for the third quarter of 2015, equivalent to $1.912 per unit on an annual basis. It has acquired three LNG carriers from GasLog Ltd. for $483.0 million ($480.0 million net of working capital) with attached multi-year charters to a subsidiary of BG Group plc. Andrew Orekar, Chief Executive Officer, commented: “GasLog Partners’ operating and financial performance this quarter has been strong.
GasLog Raises $1.3B for Eight LNG Newbuilds
Peter Livanos-backed Monaco-headquartered owner and operator of liquefied natural gas (LNG) carriers GasLog Ltd. has completed a USD 1.3 billion credit facility with fourteen international banks to finance the construction of eight 174,000 cbm newbuilds. New York-listed GasLog says 14 banks, plus two export credit agencies, have supported the facility. The Export Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-Sure) are either directly lending or providing cover for over 60% of the facility, GasLog said.
Shell, BG Merger Faces Roadblock
The Australian Competition and Consumer Commission (ACCC) has raised concerns that Royal Dutch Shell's proposed $70 billion takeover of BG Group may lessen gas supply competition in eastern Australia and delayed a final decision on the bid to November. The competition watchdog said, after preliminary investigations, the proposed takeover could damage the interests of east coast and Queensland gas users and force up prices. ACCC said a large number of market participants had expressed…
BG Group Recognised by FTSE4Good Again
BG Group has been recognised for its long-term commitment to and investment in sustainability for 15 consecutive years on the FTSE4Good index. The index is an independent measure of a company’s environmental, social and corporate governance performance. This year BG Group has been ranked among the top three percent of energy companies in the index, a rise of one percent on last year’s position. The company scored at the top of all three categories (based on 2014 information) including receiving five out of five in the areas of health and safety…
BMT Appoints New Chairman
International maritime design, engineering and risk management consultancy BMT Group announced the appointment of Sir John Hood KNZM as Chairman of BMT Group Ltd. with effect from October 1, 2015, following the retirement of Dr. Neil Cross at the end of BMT’s financial year on September 30. Sir John Hood is a nonexecutive director of BG Group plc and WPP plc, chairman of Urenco Ltd (from which he will retire later this year), Matakina Ltd., and Study Group Ltd.; president and chief executive officer of the Robertson Foundation; and chair of the Rhodes Trust and Teach For All.
KNOT Orders New Tanker for Charter with BG Group
Knutsen NYK Offshore Tankers AS (KNOT) has concluded a time-charter contract with Brazil Shipping 1 Limited, a subsidiary of the U.K. energy supplier BG GROUP PLC. This contract is for a maximum 20-year period starting from the second quarter of 2017 and follows the time-charter contracts that were concluded in September 2014 for two shuttle tankers. The new contract aims to use a 158,000 DWT Suezmax tankers built by Hyundai Heavy Industries Co. Ltd. and equipped with enhanced dynamic-positioning systems to shuttle crude oil processed in waters off Brazil.
DeepOcean Secures BG Group IMR Deal
DeepOcean has secured a contract with BG Group for inspection, maintenance and repair (IMR) work on the British operator’s subsea assets off the UK and Norway. The Norwegian contractor will use vessels from its North Sea-based fleet to carry out work under the five-year deal, for which a value was not disclosed. "The five year contract covers all ROV-based IMR work for BG Group on UK and Norwegian subsea assets. DeepOcean will use vessels from its North Sea based fleet," says a statement from the company.
'80s Brain Drain Haunts Today’s Offshore Layoffs
Companies struggle to balance cost-cutting with skills retention. If you can’t accept the rollercoaster of employment that is the offshore industry, adding and shedding jobs like clockwork through its cyclical ups and downs, don’t get on for the ride. That cold bucket of reality is repeated like a mantra across the industry. Job security and highly paid offshore employment are like mixing oil and water. The emulsion will keep hold for a while until it eventually falls apart when oil prices disintegrate. It’s a pattern industry veterans know well.
Gail to Sell LNG Supplies from US to Shell?
GAIL (India) Ltd has signed a preliminary deal with Royal Dutch Shell for the potential sale of liquefied natural gas (LNG) supply sourced from its portfolio, made up of US production, says Reuters and local media reports. Gail, a Maharatna public sector company, has signed preliminary agreements with other companies also, one report said, adding that the talks with Shell were at an advanced stage. Shell's offer was among the most attractive received said sources. The Indian state-owned company revealed plans to sell 1 million tons per year in 2013.
Odfjell Drilling Vietnam Bound
Norway's Odfjell Drilling has secured a contract with VietGazprom to deploy 2011-built drillship Deepsea Metro I (UDW drillship) to Vietnam. The area of operation is in Blocks 130 and 131 offshore Vietnam. Contract commencement is expected to take place mid 3Q 2015. The drillship was previously working offshore Tanzania with BG Group, and will now head to blocks 130 and 132 offshore Vietnam for a period of approximately 20 weeks. The estimated contract value is approx. $40 million. "We are pleased to secure new employment for Deepsea Metro I in the current challenging market.
Cairn Energy Appoints Two Directors
The Company is pleased to announce the appointment of two new independent non-executive directors, Keith Lough and Peter Kallos, to the Board of Cairn Energy PLC. Keith Lough will be appointed immediately following the Company’s AGM on 14 May 2015 and Peter Kallos will be appointed with effect from 1 September 2015. Keith Lough will join the Company’s audit, nomination and governance committees and Peter Kallos will join the remuneration and nomination committees. It is intended that Todd Hunt will retire from the Board as a non-executive director following the Company’s 2016 AGM.
Lund to Start Earlier as BG Group Chief
BG Group plc informed today that Helge Lund will join the Company as Chief Executive and an Executive Director with effect from February 9, 2015. This is ahead of the previously announced start date of March 2, 2015. Lund’s start date has been brought forward following agreement last week from his former employer to release him from his contractual commitments. Andrew Gould, who has been serving as interim Executive Chairman of BG Group since April 2014, will return to his role as Non-Executive Chairman with effect from February 9, 2015.
Panama Canal Inks Deal with Lake Charles Port
The Panama Canal Authority (ACP) signed a cooperation agreement with the Port of Lake Charles in Louisiana earlier this week, which aims to attract new customers from the liquefied natural gas (LNG) industry; a strategy that builds upon the advantages that the expanded Canal will offer. Currently, LNG vessels cannot transit through the waterway due to their beam dimensions, which are too wide to fit the existing locks. The agreement will promote cooperation in marketing activities…
EMGS - Vessel update for 4Q2014
Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Vessel utilisation for the fourth quarter 2014 came in at 63% compared with 50% for the fourth quarter 2013. In the fourth quarter of 2014, the Company's vessels were allocated 39% to contract and 24% to multi-client programmes.
BG loads First QCLNG Cargo
BG Group today announced that it has been loading the first cargo of LNG from its Queensland Curtis LNG (QCLNG) facility since 28 December. The vessel being loaded is the Methane Rita Andrea. The second cargo of LNG from the facility will be loaded onto the Methane Mickie Harper which is expected in Gladstone in the first week of January. QCLNG is the world's first LNG project to be supplied by coal seam gas. The start of production from the plant's first LNG train is the result of more than four years of development and construction on Curtis Island.