Samsung signs up Kanfa for first floating LNG vessel
Sevan Marine subsidiary Kanfa Aragon AS today signed a Letter of Intent with Samsung Heavy Industries Co. Ltd. in Korea for the development of a liquefied natural gas production topside to the world's first Floating Liquefied Natural Gas (FLNG) production vessel.
The FLNG topside will be based on Kanfa's liquefaction technology. Kanfa's scope of work includes the design and engineering of the liquefaction plant as well as procurement of major equipment items. The contract value is estimated at approximately US$200 million.
The vessel will be owned and operated by FLEXLNG and will be ready for operation late 2011. The vessel will have a gas processing and liquefaction topside with an LNG capacity of approximately 1.7 million metric tons (15. million tonnes) per annum LNG.
Sevan Marine wins $200 mln LNG vessel project
Norway's Sevan Marine said on it had won a $200 million deal from South Korea's Samsung Heavy Industries Co (010140.KS: Quote, Profile, Research) to supply its technology for a liquefied natural gas (LNG) production vessel.
The topside production equipment for the vessel will be based on liquefaction technology developed by Sevan's Kanfa Aragon AS subsidiary, Sevan Marine ASA said in a statement.
"Kanfa Aragon's scope of work includes the design and engineering of the liquefaction plant as well as procurement of major equipment items," Sevan Marine said.
"The contract value is estimated at approximately $200 million," Sevan said.
The vessel will be ready for operation in late 2011, it said.
Argentina Imports Third LNG Cargo as Bolivia Cuts Supply
July 11 (Bloomberg) -- Argentina may receive its third cargo of liquefied natural gas for delivery this month at Excelerate Energy LLC's Bahia Blanca GasPort terminal amid reduced gas supplies from neighboring Bolivia.
The Madrid Spirit, a 138,000 cubic-meter tanker, set sail from Idku terminal in Egypt carrying a cargo from the North African country and will reach Argentina on July 28, AISlive data on Bloomberg show. BG Group Plc and Gaz De France market Idku's output, according to World LNG Review 2008 published by U.S. Energy Intelligence Research.
Bolivia currently is sending about 2 million cubic meters of gas of day to Argentina, 26 percent of the 7.7 million cubic meters it agreed to sell in 2006, ABI reported, citing Energy Minister Carlos Villegas.
The first two LNG cargoes into Argentina came from Trinidad and Tobago in May and June, the ship tracking data showed, where BP Plc and partners produce LNG, natural gas that's been chilled into a liquid to be shipped on specialist tankers,
Argentina faces energy shortages after price caps curtailed investments and economic growth increased demand. The government rationed power to the country's biggest industrial companies last year after the coldest winter in about eight decades.
StatoilHydro says Snoehvit LNG restarted
Norway's StatoilHydro restarted production of liquefied natural gas (LNG) from its Snoehvit field in the Arctic on Thursday and the plant is now operating at 60 percent of capacity, the company said on Friday. The LNG plant at Hammerfest on the shores of the Barents Sea has been beset by teething problems since its start up in late 2007.
Samsung Heavy completes construction of worlds no. 1 LNG tanker
Samsung Heavy Industries Co. of South Korea, the world's second-largest shipyard, said Friday it has completed building the world's largest liquefied natural gas (LNG) tanker.
Mozah, the name of the 266,000-cubic-meter tanker, will be transferred to Qatar in August, and supply gas to the United States and Europe, said Samsung.
Samsung Heavy Industries won the 290 million U.S. dollar contract to build the LNG tanker in March 2006, the then largest-ever contract, the company said.
Samsung said by 2010 it plans to deliver 10 additional LNG tankers of the same size to Qatar.
Spice Energy to import LNG from Indonesia
NEW DELHI: Spice Energy will import LNG from Indonesia at its proposed $400 million import terminal in Haldia while its unit Cals Refineries has signed a deal with oil major BP plc to source up to five million tonnes a year of crude oil for its $1.1 billion refinery in the same city.
“We have signed a framework agreement with Indonesian State-run firm Pertamina for sourcing liquefied natural gas for the Haldia import and re-gassification facility we plan to set up by 2011,” Spice Energy CEO Ravi Chilukuri told PTI.
Spice Energy is setting up a 2.5 million tonnes facility that would sell gas to fertilizer plants in West Bengal.
In the same port city, Cals Refineries, the Bombay Stock Exchange listed firm, where Spice Energy promoters hold just under 15 per cent stake, is relocating a five million tonne refinery from Germany by the first quarter of 2010. It has also got BP to commit 2.5 million tonnes a year of heavy crude and a similar quantity of light crude for the refinery. He said Spice had also signed a deal with Indonesian miner PT Tambang Batubara Bukit Asam Tbk to buy six million tonnes of coal a year for 20 years from 2011. — PTI
Chevron to triple size of Australia LNG project
U.S. energy firm Chevron Corp plans to triple the production capacity of its proposed Wheatstone liquefied natural gas (LNG) project off western Australia to 15 million tonnes a year, the firm said.
Chevron said expansion plans for the project came after it found a significant gas extension at its Iago gas field, which lies adjacent to its Wheatstone gas field in western Australia.
Chevron, which is also the operator of the proposed Gorgon LNG project in the same region, said it was now looking at combining the resources in the Wheatstone and Iago fields into a single project with three processing units.
"We've now got enough gas to support a multi-train development and we're also looking at the option of bringing in third-party gas," Chevron's spokeswoman Nicole Hodgson said.
The Wheatstone LNG project, which will also supply Australian markets as well as exports, is expected to enter the front-end engineering and design (FEED) stage in 2009, she said.
Italy sets new tariffs for LNG terminal use
Italy's energy regulator has updated the tariffs for the use of LNG terminals in the country from October 2008 to September 2012.
The Authority for Electricity and Gas has set the tariffs to allow for a rate of return (WACC) on Regulatory Asset Base equal to 7.6 percent in real terms before tax, according to Snam Rete Gas, Italy's gas network operator.
"Furthermore, it is established an additional remuneration, up to 3 percent above WACC, for new capex for a maximum of 16 years period," it said in a statement on Thursday.
The operational costs will be adjusted every year taking into account inflation and efficiency gains set by the regulator equal to 0.5 percent in real terms, it said.
"The regulation for the next period guarantees a substantial stability leveraging on principles of continuity and coherence with the objective of providing incentives for development capex," Snam Rete Gas Chief Executive Carlo Malacarne said in the statement.
The planned expansion will bring the total capacity of Chevron-operated LNG projects in Australia, Wheatstone and Gorgon, to 30 million tonnes a year.
Sevan Marine subsidiary Kanfa Aragon AS today signed a Letter of Intent with Samsung Heavy Industries Co. Ltd. in Korea for the development of a liquefied natural gas production topside to the world's first Floating Liquefied Natural Gas (FLNG) production vessel.
The FLNG topside will be based on Kanfa's liquefaction technology. Kanfa's scope of work includes the design and engineering of the liquefaction plant as well as procurement of major equipment items. The contract value is estimated at approximately US$200 million.
The vessel will be owned and operated by FLEXLNG and will be ready for operation late 2011. The vessel will have a gas processing and liquefaction topside with an LNG capacity of approximately 1.7 million metric tons (15. million tonnes) per annum LNG.
Sevan Marine wins $200 mln LNG vessel project
Norway's Sevan Marine said on it had won a $200 million deal from South Korea's Samsung Heavy Industries Co (010140.KS: Quote, Profile, Research) to supply its technology for a liquefied natural gas (LNG) production vessel.
The topside production equipment for the vessel will be based on liquefaction technology developed by Sevan's Kanfa Aragon AS subsidiary, Sevan Marine ASA said in a statement.
"Kanfa Aragon's scope of work includes the design and engineering of the liquefaction plant as well as procurement of major equipment items," Sevan Marine said.
"The contract value is estimated at approximately $200 million," Sevan said.
The vessel will be ready for operation in late 2011, it said.
Argentina Imports Third LNG Cargo as Bolivia Cuts Supply
July 11 (Bloomberg) -- Argentina may receive its third cargo of liquefied natural gas for delivery this month at Excelerate Energy LLC's Bahia Blanca GasPort terminal amid reduced gas supplies from neighboring Bolivia.
The Madrid Spirit, a 138,000 cubic-meter tanker, set sail from Idku terminal in Egypt carrying a cargo from the North African country and will reach Argentina on July 28, AISlive data on Bloomberg show. BG Group Plc and Gaz De France market Idku's output, according to World LNG Review 2008 published by U.S. Energy Intelligence Research.
Bolivia currently is sending about 2 million cubic meters of gas of day to Argentina, 26 percent of the 7.7 million cubic meters it agreed to sell in 2006, ABI reported, citing Energy Minister Carlos Villegas.
The first two LNG cargoes into Argentina came from Trinidad and Tobago in May and June, the ship tracking data showed, where BP Plc and partners produce LNG, natural gas that's been chilled into a liquid to be shipped on specialist tankers,
Argentina faces energy shortages after price caps curtailed investments and economic growth increased demand. The government rationed power to the country's biggest industrial companies last year after the coldest winter in about eight decades.
StatoilHydro says Snoehvit LNG restarted
Norway's StatoilHydro restarted production of liquefied natural gas (LNG) from its Snoehvit field in the Arctic on Thursday and the plant is now operating at 60 percent of capacity, the company said on Friday. The LNG plant at Hammerfest on the shores of the Barents Sea has been beset by teething problems since its start up in late 2007.
Samsung Heavy completes construction of worlds no. 1 LNG tanker
Samsung Heavy Industries Co. of South Korea, the world's second-largest shipyard, said Friday it has completed building the world's largest liquefied natural gas (LNG) tanker.
Mozah, the name of the 266,000-cubic-meter tanker, will be transferred to Qatar in August, and supply gas to the United States and Europe, said Samsung.
Samsung Heavy Industries won the 290 million U.S. dollar contract to build the LNG tanker in March 2006, the then largest-ever contract, the company said.
Samsung said by 2010 it plans to deliver 10 additional LNG tankers of the same size to Qatar.
Spice Energy to import LNG from Indonesia
NEW DELHI: Spice Energy will import LNG from Indonesia at its proposed $400 million import terminal in Haldia while its unit Cals Refineries has signed a deal with oil major BP plc to source up to five million tonnes a year of crude oil for its $1.1 billion refinery in the same city.
“We have signed a framework agreement with Indonesian State-run firm Pertamina for sourcing liquefied natural gas for the Haldia import and re-gassification facility we plan to set up by 2011,” Spice Energy CEO Ravi Chilukuri told PTI.
Spice Energy is setting up a 2.5 million tonnes facility that would sell gas to fertilizer plants in West Bengal.
In the same port city, Cals Refineries, the Bombay Stock Exchange listed firm, where Spice Energy promoters hold just under 15 per cent stake, is relocating a five million tonne refinery from Germany by the first quarter of 2010. It has also got BP to commit 2.5 million tonnes a year of heavy crude and a similar quantity of light crude for the refinery. He said Spice had also signed a deal with Indonesian miner PT Tambang Batubara Bukit Asam Tbk to buy six million tonnes of coal a year for 20 years from 2011. — PTI
Chevron to triple size of Australia LNG project
U.S. energy firm Chevron Corp plans to triple the production capacity of its proposed Wheatstone liquefied natural gas (LNG) project off western Australia to 15 million tonnes a year, the firm said.
Chevron said expansion plans for the project came after it found a significant gas extension at its Iago gas field, which lies adjacent to its Wheatstone gas field in western Australia.
Chevron, which is also the operator of the proposed Gorgon LNG project in the same region, said it was now looking at combining the resources in the Wheatstone and Iago fields into a single project with three processing units.
"We've now got enough gas to support a multi-train development and we're also looking at the option of bringing in third-party gas," Chevron's spokeswoman Nicole Hodgson said.
The Wheatstone LNG project, which will also supply Australian markets as well as exports, is expected to enter the front-end engineering and design (FEED) stage in 2009, she said.
Italy sets new tariffs for LNG terminal use
Italy's energy regulator has updated the tariffs for the use of LNG terminals in the country from October 2008 to September 2012.
The Authority for Electricity and Gas has set the tariffs to allow for a rate of return (WACC) on Regulatory Asset Base equal to 7.6 percent in real terms before tax, according to Snam Rete Gas, Italy's gas network operator.
"Furthermore, it is established an additional remuneration, up to 3 percent above WACC, for new capex for a maximum of 16 years period," it said in a statement on Thursday.
The operational costs will be adjusted every year taking into account inflation and efficiency gains set by the regulator equal to 0.5 percent in real terms, it said.
"The regulation for the next period guarantees a substantial stability leveraging on principles of continuity and coherence with the objective of providing incentives for development capex," Snam Rete Gas Chief Executive Carlo Malacarne said in the statement.
The planned expansion will bring the total capacity of Chevron-operated LNG projects in Australia, Wheatstone and Gorgon, to 30 million tonnes a year.
