The Henry Hub average daily natural gas spot price has hit its lowest level since December 1998. Courtesy of EIA Citing Natural Gas Intelligence data, U.S. Energy Information Administration notes that the Henry Hub reached $1.38 per million British thermal units (MMBtu) on June 16, 2020, the lowest daily Henry
Belgium’s Exmar, the Nicolas Savery-led shipowner, has been notified by YPF of force majeure on the Tango FLNG unit. Courtesy of Exmar The Argentinian energy company YPF claimed in its notice that effects of the coronavirus pandemic, both worldwide and in Argentina have hindered YPF’s ability to perform its obligations
Alfa Laval, a heat transfer, centrifugal separation, and fluid handling specialist has teamed up with the Swiss engine developer WinGD. Courtesy of Alfa Laval The cooperation is targeting ships that run on gas and aims to improve the engine efficiency on ships that run on gas. The new Alfa Laval
Alaska Gasline Development Corp. (AGDC) has updated the Alaska LNG project cost estimate in a push to boost its competitiveness. Courtesy of AGDC The project leader AGDC noted the updated $38.7 billion cost estimate is a 12.4 per cent or $5.5 billion cost reduction off the previous $44.2 billion cost
Section 27 of the U.S. Merchant Marine, sponsored by Senator Wesley L. Jones and enacted in June 1920, requires vessels traveling between any two U.S. points to be U.S.-manufactured, -owned, -flagged, and -crewed (with some exceptions). This has become a stumbling stone for the offshore energy industry 100 years after
A consortium of Europe’s maritime research and technology leaders have launched the Fastwater project to demonstrate the feasibility of retrofit and newbuild vessels to operate on methanol as a pathway to fossil-free shipping. With funding from the European Commission, Fastwater will focus on high impact outcomes, designing solutions for existing
Algerian national energy company Sonatrach has extended its liquefied natural gas (LNG) partnership with the French major Total. Courtesy of Sonatrach The Algerian company noted in its statement the deal has been extended by a further three years. Under the agreement, 2 million tons of Algerian LNG will land in
German LNG Terminal, the developer of the import project in Brunsbuettel, has selected a Spanish-German partnership as an exclusive candidate for the final phase of its EPC tender procedure. Image: German LNG Terminal The partnership consists of Spain’s Cobra Instalaciones y Servicios, Sener, and Germany’s TGE Gas Engineering. This final
Industry majors led by shipping giant A.P. Møller – Mærsk have teamed up in an effort to develop new fuel types and technologies by launching the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. Aside to Maersk, the founding members include ABS, Cargill, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK
India’s LNG imports in May increased by 0.5 per cent following a decline in April due to coronavirus lockdown restrictions. Kochi LNG terminal (Image: Petronet LNG) India started easing the restrictions, which halted economic activity and pushed down demand, in the second part of May and plans to end the
France’s GTT has secured an order to design two storage tanks for Beijing Gas Group’s Tianjin Nangang LNG terminal in China. Image: GTT The LNG containment specialist won the contract from China Huanqiu Contracting & Engineering. GTT said that the 220,000-cbm tanks will be the largest land storage tanks in
