Pemex Trading Arm Mulls Canceling May-June Cargos
The trading arm of Mexican state oil company Pemex is mulling options to slash the number of fuel cargoes the country imports in May and June as demand plummets because of the coronavirus, three sources close to the talks told Reuters.Pemex last week declared force majeure over fuel supplies from its trading arm PMI Comercio Internacional after a bottleneck of more than 60 vessels built up outside Mexican ports, waiting to discharge.But PMI still has not declared force majeure…
Russian Gas Tanker to Lift U.S. LNG
A gas tanker once hailed by President Vladimir Putin as a bulwark of Russian energy security is heading for a liquefied natural gas (LNG) terminal in the United States, ship tracking data from Refinitiv's Eikon showed on Friday.The collection of an LNG cargo from the United States by a Russian tanker would be potentially awkward for Putin and Kremlin-controlled gas company Gazprom, which leased out the vessel to Austrian company OMV in August until November.Two industry sources…
FERC Approves Plaquemines LNG Facility
The US Federal Energy Regulatory Commission has approved the construction of Venture Global's proposed $8.5 billion Plaquemines liquefied natural gas export facility in Louisiana. Venture Global LNG to build an LNG Plaquemines export terminal and a gas pipeline between the terminal and the interstate gas network.PGNiG will receive liquefied natural gas from this terminal from 2023.“We congratulate our American partners from Venture Global LNG for obtaining the final FERC approval for the construction of the second natural gas liquefaction facility.
FLNG Innovations Boost Gas Industry Growth
Liquefied natural gas (LNG) technologies, such as floating LNG (FLNG) innovations, driven by its shorter construction lead times and lower capital investment costs, are increasingly becoming a viable option for increased gas deployments.FLNG helps mitigate siting constraints that shore-based infrastructure may face, pointed out the Kansas City-based engineering firm Black & Veatch.The provider of engineering, procurement and construction (EPC) services for energy also stressed…
Kogas, EVC Pact for Vietnam LNG Terminal
South Korean public natural gas company Korea Gas Corporation (Kogas) and Vietnam-focused development and asset management company Energy Capital Vietnam (ECV) have entered into a memorandum of understanding (MOU) for the development of a privately-funded LNG regasification terminal in Vietnam.The MOU also covers the development of a storage facility, gas supply system, and a 3,200 MW gas-fired power project near Mui Ke Ga, Binh Thuan Province, Vietnam, said a press note.The MOU…
Securing, Enhancing America’s Ports & Supply Chain
The American Association of Port Authorities and its membership recently looked ahead at the challenges and opportunities facing the Port Security Grant Program.In its annual “State of Freight” series, AAPA has highlighted the transportation infrastructure needs of U.S. ports, state transportation agencies and multimodal projects. In this final report in the State of Freight series, AAPA turns to the vital role that security infrastructure plays in moving goods.In 2002, Congress…
Lithuania Plans to Buy an FSRU
Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently leasing a floating storage and regasification unit (FSRU), called Independence, from Norway's Hoegh LNG.The use of the vessel has allowed Lithuania to import LNG since 2014, breaking the monopoly Russia's Gazprom had on natural gas supply to the country as well as neighboring Latvia and Estonia."This will keep us able…
MOL's FSRU Challenger for Hong Kong LNG Terminal Project
Mitsui O.S.K. Lines (MOL) announced that MOL, has entered into a preliminary agreement to supply a Floating Storage and Regasification Unit (FSRU), as well as Jetty Operation & Maintenance Services for the Hong Kong Offshore LNG Terminal Project on a long term contract. MOL will utilize the "MOL FSRU Challenger" built in 2017 with a storage capacity of 263,000m3 which remains the largest FSRU in the world today, to provide services to the Hong Kong Offshore LNG Terminal Project. The FSRU was constructed at Daewoo Shipbuilding & Marine Engineering Co., Ltd.
Mitsui O.S.K. Lines Signs MoU with Russian Federation
Mitsui O.S.K. Lines (MOL) signed a Memorandum of Understanding (MOU) with the Far East Investment and Export Agency (FEIA) under the Ministry of the Russian Federation for the Development of the Far East (MINVR) to cooperate with each other in the development of the Northern Sea Route and the Russian Far East. MOL has been participating in the Yamal LNG Project, which is the world first large scale energy project that exports cargoes through the Northern Sea Route, and MOL's first ice-breaking LNG carrier for the project is slated to go into service at the end of March…
MOL, FEIA Team to Develop North Sea Route
Mitsui O.S.K. Lines, Ltd. signed a Memorandum of Understanding with the Far East Investment and Export Agency under the Ministry of the Russian Federation for the Development of the Far East to cooperate with each other in the development of the Northern Sea Route and the Russian Far East. MOL has been participating in the Yamal LNG Project, which is the world first large scale energy project that exports cargoes through the Northern Sea Route, and MOL’s first ice-breaking LNG carrier for the project is slated to go into service at the end of March…
Petrogress Enters Joint Venture with EDT Offshore
Petrogress, Inc. has announced that its Petrogress Int’l, LLC (PIL) subsidiary has entered into a Memorandum of Understanding (MoU) with EDT Agency Services, Ltd. (EDT Offshore) to combine the companies’ operations at the Port of Limassol and additional port facilities in Cyprus. The MoU covers shorebase and offshore support services from the Port of Limassol, as well as future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for a $300 million industrial and energy harbor.
Global FLNG Capex to Total USD 37.6bln
Global Capex on FLNG facilities is set to grow at a 9% CAGR over the 2018-2023 period, with expenditure forecast to total $37.6bn, said Douglas-Westwood report. Given the strong fundamental drivers – increasing gas consumption due to economic growth, fuel switching, and energy security – the outlook for the import vessels will remain strong over the 2018-2023 period. Despite near-term concerns due to challenging market conditions, the incentive to use FLNG units to develop gas reserves in remote places remains compelling.
US Authorizes Non-FTA LNG Export from Golden Pass
The U.S. Department of Energy announced that it has signed an order authorizing Golden Pass Products LLC to export domestically produced liquefied natural gas (LNG) to countries that do not have a free trade agreement (FTA) with the United States. Golden Pass is authorized to export LNG up to the equivalent of 2.21 billion cubic feet per day (Bcf/d) of natural gas to any non-FTA country not prohibited by U.S. law or policy from the Golden Pass Terminal near Sabine Pass, in Jefferson County, Texas. With the dramatic increase in domestic natural gas production, the U.S.
CLP Eyes Floating LNG Terminal
Hong Kong's largest power company, CLP Holdings Ltd., is considering a plan to establish the city's first offshore liquefied natural gas (LNG) terminal in the waters east of the Soko Islands, off southern Lantau, that will enable it to tap more gas from international markets. This will come nearly a decade after it shelved a land-based version of the project in the southern Sokos despite government approval. A 25-year gas deal with the mainland was signed instead. An offshore LNG terminal…
Coal: India's Energy Mainstay for Next 30 Years
Coal will remain India's main energy source for the next three decades although its share will gradually fall as the country pushes renewable power generation, according to a government report seen by Reuters. The country is the world's third-largest coal producer and the third-biggest greenhouse gas emitter. It depends on coal for about three-fifths of its energy needs and aims to double its output to 1.5 billion tonnes by 2020. By 2047, however, coal's share of India's energy mix would shrink to 42-48 percent…
Ocean Economy Set to Double in Size by 2030
The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010. "Calculations based on the OECD’s Ocean Economy Database value the ocean economy’s output (measured in terms of the ocean-based industries’ contribution to economic output and employment) in 2010 at USD 1.5 trillion, or approximately 2.5% of world gross value added (GVA)," says a new Organisation for Economic Co-operation and Development (OECD) report. With more sustainable development, it can more than double in size to touch over US $ 3.2 trillion by 2030.
LNG Marine Fuel Institute Launched in Canberra
Port Hedland Mayor, Camilo Blanco, and the Town of Port Hedland’s CEO, David Pentz, attended the launch of the LNG Marine Fuel Institute at Parliament House, Canberra on Wednesday, June 21. The Institute, which was opened by The Honorable Josh Frydenberg MP, Federal Minister for the Environment and Energy, hopes to see Australian LNG as the primary fuel for marine transportation, powering the road, rail and mining industries. Mayor Blanco said that the Institute will work with industry and Government partners to position Australia at the forefront of LNG…
The Impact of Hull Form on Efficiency
There is a growing interest in the fuel efficiency of ships because of fuel prices, climate change and energy security issues. This has resulted in, amongst other things, a regulation governing the design efficiency of new ships called the Energy Efficiency Design Index (or EEDI for short). As of 2013, new ships are required to have an EEDI that meets or exceeds a target. The required EEDI is set as a percentage efficiency improvement relative to a baseline constructed from the average design efficiency of ships that have entered the fleet in the period 1999-2008.
Port Canaveral Hosts Briefing on LNG as Maritime Fuel
“We know that natural gas is one of the cleanest, most environmentally-friendly fuels available today,” said Capt. John Murray, CEO at Port Canaveral, who recently hosted a briefing on the use of liquefied natural gas (LNG) as a maritime transportation fuel. The briefing was led by Federal Maritime Commissioner William Doyle, who has spoken extensively in support for natural gas as a marine fuel, especially with regard to meeting international environmental standards. Natural gas…
Qatargas, RWE Ink SPA Deal for LNG Deliveries
Qatargas, the World’s Premier LNG Company, today announced a flexible Sale and Purchase Agreement (SPA) with RWE Supply Trading (RWEST), a leading European electricity and gas company. Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to RWEST in North West Europe for seven and a half years. Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer and Chairman of Qatargas Board of Directors, said: “Qatargas is committed to providing reliable, clean energy to consumers all over the world.
NOIA’s Luthi Testifies at House Natural Resources Subcommittee Hearing
NOIA President Randall Luthi released the following statement after providing testimony today before the House Committee on Natural Resources Subcommittee on Energy and Mineral Resources on H.R. “NOIA applauds Congressman Graves and Ranking Member Lowenthal for their bipartisan sponsorship of the Innovation in Offshore Leasing Act and thanks the Energy and Mineral Resources Subcommittee for holding today’s hearing. “Offshore energy development is a vital part of the U.S. economy, providing jobs, energy security and much needed government revenue.
NOIA Applauds Passage of House Interior Appropriations Bill
“NOIA applauds members of the House of Representatives for passing the first Interior and Environment Appropriations bill since 2009. Not only does the passage of the bill bring back regular order, the Fiscal Year 2017 Interior and Environment Appropriations bill includes smart policy provisions to limit the harmful impact of many short-sighted regulations targeting offshore oil and natural gas exploration and development and includes protections from other potential politically-driven regulations the Obama administration could levy on its way out of office.
NOIA Congratulates Trump, Urges Path Forward on Offshore Development
NOIA President Randall Luthi today released the following statement on the election of Donald Trump as the next U.S. “On behalf of the National Ocean Industries Association (NOIA), I congratulate President-elect Trump on his victory at the polls. The American people have spoken, and this long and contentious election is finally over. Even though it appears the political divide in our Nation has widened, now is the time to work together to promote wise energy policies that will enhance our ability to create jobs and promote energy security.
House Passes Bill Axing Oil Export Ban, Obama Veto Looms
The U.S. House of Representatives passed a wide-ranging bill on energy reforms on Thursday that includes a measure to repeal the 40-year-old oil export ban, but the legislation did not get enough votes to overturn a potential veto by President Barack Obama. The North American Energy Security and Infrastructure Act passed 249 to 174, but did not get the 290 votes needed to overcome a veto. The bill would also speed the permitting of liquefied natural gas (LNG) exports and improve the aging power grid.
India Announces $615 mln Package for Ship Builders
The Indian Union Cabinet chaired by the Prime Minister Narendra Modi has cleared a Rs.4,000-crore ($615 mln) package to spur India’s ship building industry, combined with a slew of incentives. The sops include the right of first refusal on all government purchases for Indian shipyards, tax incentives and the ‘infrastructure’ status for shipbuilding and ship repair industry that would help them tap easier financing. The measures are aimed at countering the cost disadvantage involved in ship building. The measures includes grant of financial assistance to shipyards.
Saudi-Iran Standoff and Oil Tankers
The Saudi-Iran standoff is certainly one to worry over given its ramifications for oil supply as they sit on either side of the Persian Gulf, the world’s biggest concentration of oil tankers, reports Bloomberg. The Strait of Hormuz at the mouth of the Persian Gulf is the world’s most important choke point for oil shipments, with about 17 million barrels of crude passing through daily. World chokepoints for maritime transit of oil are a critical part of global energy security. About 63% of the world's oil production moves on maritime routes.