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You will find in this section the latest public news regarding the liquefied natural gas market, regulation and innovations. Please type any keyword in the search box and /or use the  ”area”, “topic” and “date” filters to refine your search. Feel free to submit your news to GIIGNL using the contact form.

 

August 1, 2018

CNOOC starts operation at its Shenzhen LNG terminal

CNOOC has started the operation of its ninth LNG terminal in Shenzhen. The terminal is equipped with four storage tanks of 160,000 cubic meters each and a berth for Q-max, LNG tanker up to 266,000 cubic meters.
A nominal capacity of the facility is 4 MTPA. The company said that the facility would be supplying 17 million cubic meters of natural gas on a daily basis to China’s north during the coming winter.

July 30, 2018

Bureau Veritas issues new guidelines for the conversion of LNG carrier to FSRU/FSU

Classification society Bureau Veritas (BV) has issued new and updated notations and guidance to support the construction and operation of both FSRUs and FSUs. The new conversion guidelines provide clear advice to the LNG industry in properly addressing issues that either will or may arise during the conversion of LNG carriers into FSRUs or FSUs, helping ship owners to either avoid or to overcome potential problems.

BV stated that interest in FSRUs and FSUs was growing and floating gas terminals offered operational flexibility, reduced timescales, from concept to operation, and cost effectiveness in comparison with onshore terminals. Additionally, BV mentioned that converting existing LNG carriers offers a fast route to operational availability.

Edited from Bureau Veritas press release.

July 30, 2018

LNG carrier registers 4,000th Panama Canal transit

On 29 July, the Panama Canal registered the transit of its 4,000th Neopanamax vessel through the Expanded Canal, with the transit of the LNG tanker Maria Energy from the Atlantic to the Pacific Ocean. Of the 4,000 vessels that have transited to date, roughly 52 percent have been from the container segment. LPG vessels constitute another 27 percent, and LNG carriers have been responsible for 10 percent of traffic.

Panama Canal Administrator, Jorge L. Quijano mentioned that the steady increase in Neopanamax transits reflected its customers' confidence in the Expanded Canal. Also he commented that this reaffirmed the value and impact its route had across global maritime trade, including the fast-growing LNG segment.

The Panama Canal announced in June that it will be lifting natural daylight restrictions for LNG transits on October 1, 2018, to offer added capacity to shippers. By lifting encounter restrictions, LNG vessels will also be able to navigate Gatun Lake at the same time, allowing two different LNG vessels to transit the Canal the same day in two different directions, offering more flexibility to the segment.

Edited from Panama Canal Authority press release.

July 20, 2018

Vopak acquires a 29% share in Elengy Terminal Pakistan

Engro Corporation and Royal Vopak today announce the signing of a Share Purchase Agreement in which Vopak will acquire a 29% share in Elengy Terminal Pakistan Ltd (ETPL). ETPL owns an LNG facility which is located in Port Qasim in Pakistan, adjacent to the Engro Vopak chemical terminal on the mainland side of the channel into Port Qasim. The facility has been in operation since 2015 and is the first LNG import facility in Pakistan.

The facility consists of an LNG jetty including a 7.5 km high-pressure gas pipeline. This pipeline is connected to the grid of ETPL's sole customer Sui Southern Gas, a Pakistan government-owned entity. ETPL holds a 15 year FSRU time charter with Excelerate Energy. 
After completion of this transaction, the shareholders in ETPL will be Engro Corporation, Vopak and the International Finance Corporation.
This acquisition is subject to certain conditions, including customary regulatory and shareholder approvals, and closing is anticipated to take place in the fourth quarter of 2018.
Pakistan is a market with more than 200 million people and has a growing energy demand in which the share of gas is expected to increase. Gas is mainly used for power supply for the growing population, industrial usage and as feedstock for fertilizers. 
Edited from Vopak press release.

July 20, 2018

The Enagás-Fluxys-Snam consortium acquires 66% of DESFA

The European consortium consisting of Snam (60%), Enagás (20%) and Fluxys (20%) signed today in Athens the agreements with the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum for the acquisition of a 66% interest in DESFA, the national operator in the natural gas infrastructure sector.

The consortium was awarded in April the tender for the privatization of DESFA on the basis of an offer of 535 million euros. Today's contracts were signed following authorizations received in recent days by the European Commission and the Hellenic Court of Audit. The completion of the transaction, expected by the end of the year, is subject inter alia to the finalization of the internal reorganization aimed at HRADF and Hellenic Petroleum becoming direct shareholders of DESFA – which is currently held through DEPA – and to the certification of DESFA under the ownership unbundling regime by the Greek regulator RAE.

DESFA owns and operates, under a regulated regime, a high pressure transport network of about 1,500 km, as well as a LNG regasification terminal at Revithoussa.

Greece is an important crossroads for the diversification of gas supplies as well as the opening of new natural gas routes in Europe and may additionally develop as a gas hub for south-eastern Europe. 

The consortium has secured a > 10-year non-recourse acquisition financing corresponding to approximately 65% of the enterprise value. The financing is subject to documentation and closing is expected to occur in the next few weeks.

Edited from Fluxys press release.

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