Sunday, November 17, 2019

Golar Lng News

Golar Power Wins Brazil Plant Gig

 Pic: Golar LNG

Golar LNG, a liquefied natural gas shipping company registered in Bermuda, said that its joint venture with Stonepeak Infrastructure Partners, Golar Power Limited has been awarded a 25 year power purchase agreement (PPA) for the construction of a 605MW combined cycle thermal power plant.The LNG-to-power Project will be developed by CELBA (Centrais Eletricas Barcarena S/A)…

Golar LNG Orders Compressed Air System from TMC

Norwegian company TMC Compressors of the Seas (TMC) has is to supply a compressed air system for a Golar LNG floating liquefied natural gas (FLNG) vessel.TMC will manufacture and deliver seven large Smart Air compressors to be installed on the FLNG Gimi which is currently in Singapore where it is undergoing conversion from a Moss liquefied natural gas (LNG) carrier to an FLNG unit.Hans Petter Tanum…

Uniper Sells Italian LNG Plant Stake

Image: OLT Offshore

German energy group Uniper has concluded an agreement with Australian fund First State Investments to divest its stake in OLT Offshore liquefied natural gas (LNG) Toscana.First State Investments will acquire Uniper’s entire OLT stake. The purchase price for Uniper’s stake amounts to approx. €400 million ($452 million) and will be adjusted at closing for any distributions already made to Uniper in 2018 and 2019.

First US FLNG Project Moving Ahead

(Image: Delfin LNG)

Plans to construct a U.S. floating liquefied natural gas (FLNG) vessel in China, which may also provide funding and buy part of its output, are moving ahead despite trade tension between the countries, an executive at one of the partners said on Thursday.The Delfin LNG project will be the first of its kind for the United States, which has only onshore liquefaction facilities…

Golar Bullish on LNG Market

Pic: Golar LNG

Through the provision of cheaper and cleaner energy the liquefied natural gas (LNG) market will likely take market share from coal and oil and sustain industry growth levels of around 10% for the foreseeable future, said Golar LNG.The shipping company registered in Bermuda said that key markets continue to import record levels of LNG as they distance themselves from coal and nuclear…

Keppel, Golar to Build FLNG Facility

Image: Keppel Corporation

Keppel Corporation will partner liquefied natural gas (LNG) shipping company Golar LNG  to develop a floating LNG facility (FLNG) facility to be located on the Mauritania and Senegal maritime border.Keppel will partner Golar by subscribing for 30 per cent in Gimi MS Corporation, through Keppel's indirect wholly owned subsidiary First FLNG Holdings (FFH). The remaining…

Golar to Supply FLNG for BP

Greater Tortue Ahmeyim LNG development (Image: BP)

Golar LNG Limited announced Tuesday that its newly incorporated subsidiary Gimi MS Corporation has entered into a 20-year Lease and Operate Agreement (LOA) with BP for the charter of a floating liquefied natural gas (FLNG) unit, Gimi, to service the Greater Tortue Ahmeyim project offshore Mauritania and Senegal.The FLNG unit Gimi will liquefy gas as part of the first…

FLNG Market Grows a CAGR of +93%

FLNG: Shell Global

Global floating liquefied natural gas (FLNG) market is growing at a CAGR of +93% during forecast period 2019-2026 as the demand for natural gas has been rising as it is a preferred fuel in power generation in various industries.According to a report from Research N Reports, the demand comes from mainly for the regions such as North America, Europe, China, Japan, Southeast Asia and India.Natural gas is cleaner…

BP Green-lights Greater Tortue Ahmeyim Project

(Image: BP)

BP and its partners announced on Friday that the green light has been given for the first phase of the Greater Tortue Ahmeyim project off the coast of Mauritania and Senegal.The cross-border development, a first for the two West African nations and Africa's deepest offshore project at 2,000 meters below the sea's surface, will produce gas from an ultra-deepwater subsea system and mid-water floating production…

Golar FSRU Wins LNG Croatia Project

 Image: Golar LNG

State-owned LNG Croatia has selected Golar Power, a joint venture between Golar LNG and Stonepeak Infrastructure Partners,  to deliver a floating storage and regasification unit (FSRU) for the nation's first liquefied natural gas import facility.Golar Power was picked from three bidders, including Mitsui O.S.K. Lines and Maran Gas Maritime Inc, LNG Croatia, the company behind the project…

Golar FSRU Golar Freeze Lined Up for Jamaican Project

Golar Freeze. Photo: Emerson

Norwegian shipping company Golar LNG Partners is deploying a floating storage and regasification unit (FSRU) to Jamaica for up to 15 years from the fourth quarter of 2018."FSRU Golar Freeze will shortly arrive offshore Jamaica where she will service a 15-year charter for an energy and logistics company," the partner company of Golar LNG Limited said in a stock market annoucement.From commencement of commercial operations…

FLNG Hilli Episeyo Operates in Full Capacity

Pic: Golar LNG Limited

Golar LNG Limited confirmed that FLNG Hilli Episeyo continues to operate with 100 percent commercial availability.Currently in the process of exporting its 10th LNG cargo, the vessel's proof of concept continues to add momentum to both existing and new opportunities under discussion. Discussions also continue with field operator Perenco as to the timing of utilization…

LNG Trade to Increase by 10% in 2020

Pic: Golar LNG Limited

Dominated by new U.S. volumes, liquefied natural gas (LNG) trade is expected to increase by 10 percent per annum from 290 million tons in 2017 to around 388 million tons in 2020, said Golar LNG.According to industry analysts, ton mile demand is expected to increase by more than 40 percent over the same time frame. Annual fleet growth of 5 percent through to 2020…

LNG Shipping Rates Spike with No Respite Seen Through 2019

(Photo: Höegh LNG)

The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply.The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000 a day this week from $75,000 a day at the end of August…

LNG Shipping Rates Spike With no Respite Seen Through 2019

Photo: Golar LNG

The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply.The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000 a day this week from $75,000 a day at the end of August…

China LNG Tariff Casts Shadow Over New US Export Terminals

© vladsv / Adobe Stock

China set a 10 percent tariff on U.S. liquefied natural gas (LNG) imports, extending a trade dispute into energy and casting a shadow over U.S. export terminals that would propel the United States into the world's second-largest LNG seller.Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S.

Golar LNG says New Cameroon LNG Project in Full Swing

Photo: Golar LNG

Golar LNG said on Thursday its pioneering floating liquefied natural gas (FLNG) project in Cameroon had achieved 100 percent of commercial uptime, following commissioning earlier this year, and was due to offload its sixth cargo soon.The Hilli Episeyo FLNG is the first of its a kind -- an LNG producing vessel converted from an ageing tanker.

Bad Weather Stalls Bangladesh FSRU Hook Up

Excelerate CFO Nick Bedford and representatives from IFC, the Bangladeshi government, Petrobangla, and project lenders at the signing ceremony in Dhaka in the summer of 2017. IFC, a member of the World Bank Group, and Excelerate Energy Bangladesh Limited (Excelerate) are co-developing the Moheshkhali Floating LNG project – Bangladesh’s first liquefied natural gas (LNG) import terminal. (Image: Excelerate)

A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations "within a week" after bad weather hampered its start-up, an official said on Thursday.The floating storage and regasification unit (FSRU) will allow Bangladesh to import LNG for the first time as its…

Golar LNG Unwinds Joint Venture with Schlumberger

Golar LNG said on Thursday it would wind down its joint venture with Schlumberger, called OneLNG, which had been involved in the development of the Fortuna LNG project with Ophir in Equatorial Guinea.Golar said despite an agreed development plan and extensive efforts in the last 12 months by OneLNG and Ophir management, it has not been possible to finalise an attractive debt financing package.This, together with other capital and resource priorities,

Flex LNG Steers Away From Floating Units as Challenges Emerge

Image Source: Gazprom’s Kaliningrad FSRU (MARSHAL VASILEVSKIY) (Flex LNG)

Flex LNG, a liquefied natural gas shipping company and part of the nautical empire of Norwegian billionaire John Fredriksen, has dropped its interest in operating floating regasification units due to project failures and low returns. Floating Storage Regasification Units (FSRUs) have been lauded by analysts as transformative for the LNG industry by opening up emerging…