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GasLog third-quarter profit up on tight LNG shipping market

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zoomImage courtesy of GasLog Monaco-based LNG shipper GasLog reported a rise in profit during the third quarter of the year as the LNG shipping market tightened.  The company posted an $18.2 million profit for the period under review, compared to the $5.3 million in the corresponding quarter last year. GasLog’s

Tallinna Sadam, Alexela to work on Paldiski LNG terminal

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zoomPaldiski South Harbour (Image courtesy of Tallinna Sadam) Tallinna Sadam and its Estonian compatriot Alexela Invest signed a memorandum of understanding to assess the potential of developing an LNG terminal in Paldiski. The two companies have agreed to seek best solutions for the development and implementation of LNG terminal and servicing

China’s Zhenhua buys 1st LNG cargo from Chevron

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zoomGasLog Singapore (Image courtesy of GasLog) China’s Zhenhua Oil, a unit of Chinese defense conglomerate Norinco, has purchased its first liquefied natural gas (LNG) cargo from energy giant Chevron. The cargo, discharged at CNOOC’s Yuedong LNG terminal in Shenzhen, was sourced from the Australian Gorgon project operated by Chevron, according

Shell third-quarter profit rockets, share buyback continues

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zoomShell CEO Ben ban Beurden (Image courtesy of Shell) The Hague-based LNG giant Shell reported produced ‘one of the strongest-ever quarters’ during the three months ending September 30, as realized prices rose across the board. Shell reported a net profit of $5.6 billion, 37 percent up on $4.1 billion during the

Flex LNG names new CFO

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Image courtesy of Flex LNG Flex LNG, an emerging player in the LNG shipping business, appointed Harald Gurvin as a chief financial officer of Flex LNG Management, the main management company of the Flex LNG group. Gurvin is expected to join Flex LNG in January 2019, the company controlled by billionaire John Fredriksen

Shell’s Q3 LNG sales rise

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The Hague-based LNG giant Shell on Thursday reported a 2 percent increase in its liquefied natural gas sales in the third quarter. Shell sold 17.27 million tonnes of the chilled fuel in the third quarter as compared to 16.97 million tonnes in the same quarter in 2017. In the January-September period,

Malaysia’s Petronas completes 1st Pengerang LNG bunkering operation

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Kairos at Pengerang regasification terminal (Image courtesy of Petronas) Malaysian energy giant Petronas said on Thursday it has completed its first liquefied natural gas (LNG) supply operation at its Pengerang regasification terminal in Johor. Petronas LNG, a unit of Petronas, supplied the cargo to Babcock Schulte’s 7,500 cubic meter LNG bunkering vessel Kairos.

Australia awards seven offshore exploration permits

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zoomImage courtesy of Australia’s Department of Industry, Innovation and Science Australia’s Coalition Government completed the 2017 Offshore Petroleum Exploration Acreage Release with the award of seven permits. The seven awards could see more than $530 million invested over the next six years, a statement by the Northern Australia’s minister for

BP completes $10.5 billion BHP U.S. onshore assets buy

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zoomImage courtesy of BP UK-based energy giant and LNG player BP has completed the $10.5 billion acquisition of BHP’s U.S. unconventional assets in a deal that will boost BP’s U.S. onshore oil and gas portfolio. The acquisition adds oil and gas production of 190,000 barrels of oil equivalent per day and

LNG, LPG boost Panama Canal tonnage to record high

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zoomImage courtesy of Panama Canal The Panama Canal closed its 2018 fiscal year with a record tonnage of 442.1 million Panama Canal tons, boosted by LNG and LPG transit.  Panama Canal said in its statement the new figures represent a 9.5 percent rise from the previous year, surpassing projections of

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