Posted - November 29, 2013 - By Yuka Obayashi and Keith Wallis - Reuters
Japan's top shippers plan to order around 90 new liquefied natural gas
(LNG) tankers worth about 1.8 trillion yen ($17.61 billion) by 2020 as
they gear up to transport rising volumes of the super chilled fuel from
North America and Australia.
The expansion plans reflect rising LNG demand in nuclear-free Japan to generate electricity and also in other Asian countries such as China and South Korea.
Global LNG trading volume is expected to grow to 400 million tonnes
(1.1023 ton) in 2020 from 250 million tonnes in 2012, according to
industry data.
Mitsui O.S.K. Lines Ltd. (9104.T),
Japan's second-largest shipping company, plans to increase the number
of its LNG carriers to 110 by 2020 from about 70 now, a spokesman said.
Nippon Yusen KK (9101.T),
the No.1 shipper in the country, plans to raise its LNG tanker strength
to 100 by 2020 from about 70 now while third-biggest shipper Kawasaki
Kisen Kaisha Ltd (9107.T) aims to order about 20 new LNG tankers before the end of the decade.
A
Kawasaki Kisen spokesman said the company owns some of its existing
tankers jointly with its customers or other shippers and the new ships
may be also bought jointly with others to keep its balance sheet
healthy.
The order plan may change, depending on how many nuclear reactors will restart in Japan, said an official at the LNG carrier division of Mitsui O.S.K.
"We
will place an order only after we sign a long-term contract with our
LNG customers who could be producers or buyers," he said.
Japan,
the world's biggest importer of LNG, has been increasing imports of the
fuel to generate electricity and make up for the shortfall from the
shutdown of nuclear reactors after a massive earthquake and tsunami
triggered reactor meltdowns at the Fukushima facility in 2011.
In
September this year Japan went nuclear-power free for just the third
time in more than four decades, with no firm date for re-starting the
energy source that has provided about 30 percent of electricity to the
world's third-largest economy.
One LNG tanker usually costs about 20 billion yen, according to industry sources.
A Singapore-based shipbroker expected the deal to be financed by Japanese banks rather than an international syndicate and Japanese shipyards such as Japan Marine United to be favored for the orders
Post to be found at:
http://www.reuters.com/article/2013/11/29/us-japan-shippers-plan-idUSBRE9AS05V20131129
Friday, November 29, 2013
Dorian LPG Completes Acquisition of Scorpio Tankers' VLGC Fleet - Maritime Executive
Posted - November 27, 2013 - Maritime Executive
http://www.maritime-executive.com/article/Dorian-LPG-Completes-Acquisition-of-Scorpio-Tankers-VLGC-Fleet-2013-11-27/
Dorian LPG Ltd. announced that it has
successfully concluded its previously announced agreement with Scorpio
Tankers Inc. to acquire its Very Large Gas Carrier (“VLGC”) newbuilding
contracts, associated deposits of $83.1 million, and a cash contribution
of $1.9 million in exchange for 39.9 million newly issued Dorian LPG
shares representing 30% of the Company’s pro-forma outstanding shares.
Concurrent with the completion of the
transaction between Dorian LPG and Scorpio Tankers, Dorian LPG has also
closed its subscription for its private placement of 80,405,405 shares
to Norwegian and international institutional investors at a price of NOK
18.50 which represents approximately $250 million in gross proceeds. The Company now has 213,579,150 shares issued and outstanding.
Dorian LPG also declared the 2 options that
were acquired from Scorpio Tankers thereby increasing its fleet to 16
ECO VLGC with deliveries in 2014 and 2015 from Hyundai Heavy Industries
Group ("HHI") and Daewoo Shipping and Marine Engineering Ltd
.
Post to be found at:http://www.maritime-executive.com/article/Dorian-LPG-Completes-Acquisition-of-Scorpio-Tankers-VLGC-Fleet-2013-11-27/
Eni Sees Mozambique Struggling With 2018 LNG Shipment Deadline - Hellenic Shipping News Worldwide
Posted - November 29, 2013 - Hellenic Shipping News Worldwide - Source: Bloomberg
Eni SpA (ENI) sees Mozambique, its planned base for African output, struggling to meet a 2018 deadline to build plants allowing the country to ship liquefied natural gas.
“We’re working hard to reach” a final investment decision “as soon as we can,” Luca Bertelli, executive vice president of exploration at the Rome-based company, said in an interview. Completion by 2018 is “very challenging,” he said. “There’s no infrastructure, no logistics so it will take a bit of time.”
Eni plans to spend $28 billion on African development over four years with average annual growth in output of 3.2 percent, Bertelli said in a Cape Town presentation. The company plans to invest $3.5 billion in exploration in the period, drilling 140 wells, and achieve a new-resource unit cost of $1.2 a barrel.
Eni has found 75 trillion cubic feet of gas in the offshore fields of its Area 4, more than the current reserves of Norway. Mozambique plans to build four LNG units with total capacity of 20 million metric tons a year by 2018, making it the largest LNG export site after Ras Laffan in Qatar. It may cost $20 billion.
“Mozambique will be the base for production in the next decades,” Bertelli said. “I was part of Angola LNG but there they start with some logistics in place to build the plant.”
Post to be found at:
http://www.hellenicshippingnews.com/News.aspx?ElementId=f8f65c50-d9c3-42d4-bc56-4e33517cbf03&utm_source=newsletter&utm_medium=email&utm_campaign=daily
Eni SpA (ENI) sees Mozambique, its planned base for African output, struggling to meet a 2018 deadline to build plants allowing the country to ship liquefied natural gas.
“We’re working hard to reach” a final investment decision “as soon as we can,” Luca Bertelli, executive vice president of exploration at the Rome-based company, said in an interview. Completion by 2018 is “very challenging,” he said. “There’s no infrastructure, no logistics so it will take a bit of time.”
Eni plans to spend $28 billion on African development over four years with average annual growth in output of 3.2 percent, Bertelli said in a Cape Town presentation. The company plans to invest $3.5 billion in exploration in the period, drilling 140 wells, and achieve a new-resource unit cost of $1.2 a barrel.
Eni has found 75 trillion cubic feet of gas in the offshore fields of its Area 4, more than the current reserves of Norway. Mozambique plans to build four LNG units with total capacity of 20 million metric tons a year by 2018, making it the largest LNG export site after Ras Laffan in Qatar. It may cost $20 billion.
“Mozambique will be the base for production in the next decades,” Bertelli said. “I was part of Angola LNG but there they start with some logistics in place to build the plant.”
Post to be found at:
http://www.hellenicshippingnews.com/News.aspx?ElementId=f8f65c50-d9c3-42d4-bc56-4e33517cbf03&utm_source=newsletter&utm_medium=email&utm_campaign=daily
Posts and Readings for November 29 - Wordsmith
Posts and Readings for November 29
THE earliest time that
a Liquefied Natural Gas (LNG) plant can be set up ... starts, he
said the Asian market is going to drive the demand for LNG globally.
The approved
application will give Canaport LNG the ability to look for better
markets for its product worldwide, said company spokesperson Kate Shannon.
THE earliest time that
a Liquefied Natural Gas (LNG) plant can be set up offshore Mtwara is
2016, for production to start around 2020. If all goes well, various ...
Potential sellers were
also faced with rising costs due to weak production at Egypt, Nigeria and Trinidad's
Atlantic LNG plant - which scheduled a six-day ...
The plans for building
and operating the two terminals in Hamburg and Bremerhaven, the future hubs of
the German coastal LNG supply, have come to maturity.
A couple of weeks ago
I had the opportunity to tour the Liquefied Natural Gas (LNG) facility
at Cove Point, Maryland. Owned by Dominion, the Cove Point facility ...
The BoD has allowed
the SSGC to sign a contract with Engro Vopeck for the supply of LNG to
the country. Under the fast track LNG project, 40 crore cubic feet
of ..
We also have seen LNG
become an established global industry and gas-to-liquids chemistry emerge from
the laboratory. These developments can now be ...
Construction on new LNG
mobile gas station in Grande Prairie is set to begin ... Grande
Prairie's northwest end of the city will be the location of a new LNG ...
LNG for delivery over the next four to eight
weeks rose to $19 per million British ... Asian LNG importers
typically purchase spot cargoes from December to March ...
Golar Winter
drydocking and modification works completed and vessel delivered to new
location in Brazil. Uplifted hire rate of approximately $2.2 million per ...
Just for fun, we
conducted a search of the government news release database comparing LNG
to poverty. With 2,232 government news releases sitting on our ...
It's too early to
predict the tax impact the proposed liquefied natural gas (LNG) plant
slated for the former Woodfibre pulp mill site and the 52-kilometre-long
pipe ...
LNG demand has also increased in other Asian
countries. In 2011, Malaysia, a top LNG exporter, announced that it
would also start importing LNG, enabling it to ...
Investors with a
short-term perspective can buy Petronet LNG at current levels. After an
intermediate-term downtrend, the stock found support around Rs 115 in ...
Investors in Cheniere
Energy Inc. (AMEX: LNG) saw new options become available today, for the
January 2014 expiration. At Stock Options Channel, our ..
On her Asian trade
mission this week, Premier Christy Clark is marketing the liquefied natural gas
she hopes will soon be produced in British Columbia as the ...
Golar LNG
Partners LP ("Golar Partners" or the "Partnership") reports
net income attributable to unit holders of $35.4 million and operating income
of $55.8 ...
ISLAMABAD: if the
government introduces the upfront tariff regime in LNG (liquefied
natural gas) sector it may beat off criticism in the national press and
avoid ...
Golar LNG logo
Golar LNG (NASDAQ:GLNG) declared a dividend on Wednesday, November 27th,
AnalystRatings.NET reports. Shareholders of record on ...
And weaker LNG
demand from Japan, which takes in about a third of world shipments, will help
keep global prices capped despite robust demand from South ...
The quiet period
following the November 12 IPO of liquefied natural gas carrier operator Dynagas
LNG Partners LP (DLNG) will come to an end on December 7, ..
Khairul Riza Rosli,
the chief executive officer of Petronas LNG Ltd., has left the Kuala
Lumpur-based company, said four people with knowledge of the matter ...
Thursday night Terrace
got a chance to see just what exactly LNG Canada plans to study during
their environmental assessment stages. The company held an ...
TOKYO/SINGAPORE
(Reuters) - Japan's top shippers plan to order around 90 new liquefied natural
gas (LNG) tankers worth about 1.8 trillion yen ($17.61 ...
Nov 29 (Reuters) - The
Tokyo Commodity Exchange (Tocom) is in talks with CME Group Inc to create the
world's first exchange for liquefied natural gas (LNG) ..
Canada's first LNG
import and regasification facility, Canaport LNG, is keeping its options
open to convert its existing terminal at New Brunswick into a re-export ...
This announcement will
also result in increased LNG supply, creating opportunities for
industrial users and remote communities, bringing economic ...
Tuesday, November 26, 2013
Posts & Readings for November 26 - Wordsmith
Posts & Readings for November 26
A Swedish LNG
project has been recognised by the European Union as having the potential to
significantly contribute to market integration and competition, ...
Japan's Tokyo Electric
Power Company plans to buy around 2.2 million mt of LNG in December,
slightly above the 2.1 million mt it has purchased in November, ...
China National
Offshore Oil Corp has received the first cargo of LNG at its new Tianjin
floating LNG receiving project in eastern China, the company said ...
Chevron has borne the
brunt of this, reporting that its Gorgon LNG project had seen costs
spiral from the initial estimate of $37 billion, projected back in ...
NEW DELHI: Indian
consumers, facing a severe shortage of gas, suffered another blow as the price
of liquefied natural gas (LNG) rose to $16-$18 per unit, four ..
Asian LNG
buyers typically import spot cargoes from December to March to meet peak
heating and power demand during winter in the northern hemisphere.
Angola LNG said
Monday its 5.2 million mt/year liquefied natural gas processing plant is shut
down, and gave no timeframe as to when it was likely to restart.
NOVEMBER 25, 2013 —
Crowley has signed a contract with VT Halter Marine, Inc., Pascagoula, MS,
covering the construction of two 219.5 m, LNG-fueled, ...
Australia has a lot of
potential for LNG exports, and the country is ideally situated
geographically to export to southeast Asia. Australia's proved natural
gas ...
LNG Limited announced yesterday it had locked in
a third off-take partner for the ... fund West Face Capital striking an
agreement for LNG Limited to process 1.7 ...
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