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LNG Shipping News AN LNG JOURNAL TITLE ON LNG CARRIERS 17 September 2020 Global LNG demand to rise SHIPPING Demand for LNG is to increase steadily for several NEWS decades helped by economic growth in Asia, industry AGENDA leaders told the Gastech Virtual Summit held last week. MARKETING The current COVID-19 pandemic Most speakers agreed that was viewed as only a short-term China will be the key driving force setback. for LNG demand in the coming “While the world continues to decades. grapple with the severe impacts of China’s gas demand is expected market demand and the impact of to exceed 600 bill cu m per year Irtiza Sayyed, President COVID-19, long-term fundamentals by 2040, up from just over 300 bill ExxonMobil LNG Market Development remain strong supported by growing in 2020, according to Ming Cai, population and energy demand,” Ir- natural gas and LNG consultant at Joseph McMonigle, the Interna- Thailand to become tiza Sayyed, ExxonMobil LNG Mar- Poten & Partners. tional Energy Forum’s Secretary hub 3 ket Development President, said. General said, “The pandemic in- Taiwan purchases “LNG is and will remain a high- Resilience creases the stakes by pushing the to grow 3 growth industry based on a grow- The speakers put the spotlight on demand gap out further over the ing economy worldwide, the importance of gas in the grow- next decade. This opens a new BUSINESS particularly in Asia, with a desire ing demand for energy globally and window of opportunity that en- FIDS disappear for secure, affordable and highlighted the resilience of the in- ables the gas industry to play a 4 cleaner-burning fuels,” Douglas dustry in the face of price volatil- larger role in achieving climate, Wharton, Vice President, Cheniere ity, COVID-19 and the changes to clean air, and energy access goals.” Vitol to supply spot cargo Marketing, added. the environmental agenda. Hydrogen is also set to play a 4 LNG trade demand will grow by Gas companies are now energy key role in a clean, secure and af- Delta’s cargo an average 3.4% a year between companies, with the shared man- fordable energy future. De La Rey requests 5 2019 and 2040, with additional date to drive a low carbon energy Venter, Executive Vice President, supply required to achieve such future. Integrated Gas Ventures at Shell, FINANCE growth. Chan Chun Sing, Minister of stressed;“How important is hydro- Some executives said that Trade & Industry for Singapore, gen really in the context of our Dynagas boost 8 coronavirus had reduced invest- who opened the Summit, said; “As climate aspirations? Bluntly put, it ment in new production, resulting the LNG hub of the region, our is mission critical.” EXMAR hit in supply not recovering as fast as government and gas industry in Hydrogen will play an impor- by disputes 8 demand. Singapore have embarked on many tant role in de-carbonising the Around two thirds of the initiatives across the value chain. energy industry. Last week, the TECHNOLOGY growth in LNG demand in the next These serve to promote innovation Gastech Hydrogen Exhibition and Kongsberg in decade will come from China, in the sector and the adoption of Conference was launched, to be Shell tie-up India, Pakistan and Bangladesh, more environmentally sustainable co-located with Gastech in Singa- 9 according to Wood Mackenzie. energy strategies.” pore in September, 2021. n NEWS livers expertise in the transfer of Australia have resumed. NUDGE LNG, LPG and oil. The giant FLNG has remained Its decision to join OSRL was offline since February, due to Floating plant STS service provider driven by a board-level commit- engineering problems. AiP 10 joins OSRL ment to reduce or remove risk This suspension of operations Ship-to-ship transfer specialist, across its operations. followed an order from Australia's LNG ORDERBOOK STS Marine Solutions (STS), has upstream regulator to perform LNG carrier orderbook joined Oil Spill Response Limited ‘Prelude’ back onstream additional work following three (OSRL). Royal Dutch Shell has recently safety incidents that took place 11 A service provider with over confirmed that operations at at the facility between September LNG small scale fleet 40 years of experience, STS de- ‘Prelude’ FLNG offshore Western last year and January, 2020. n 14 2 l NEWS LNG Shipping News 17 September 2020 Supply and demand rises NEWS Asian spot LNG prices were almost stable last week, as several buyers looked for NUDGE cargoes and the US Sabine Pass export plant resuming production after hurricane ‘Laura’. Make it another six GTT has received an order The average LNG price for October to restart cargo liftings, following These included Guangzhou Gas, from Hyundai Heavy Industries delivery into northeast Asia LNG- ‘Laura’. which bought an October cargo at (HHI) and Hyundai Samho AS was estimated at $4.55 per The first Corpus Christi cargo $4.80-4.90 per MMBtu and a Heavy Industries (HSHI) for MMBtu, $0.05 MMBtu above the was loaded on 30th August on the November cargo at $5.20 per the tank design of another six previous week’s level. 177,200 cu m capacity ’Sohshu MMBtu, a trader said. Buy tenders LNGCs. November’s delivery price was Maru’, with another cargo shipped were circulated by Thai, Mexican, Two LNGCs will be built by estimated at $4.75 per MMBtu. on the 140,645 cu m ‘Golar Arctic’ Pakistani, Kuwaiti, Indian and HSHI on behalf of a European Prices increased early in the and a third on 31st August by the Colombian interests. shipowner, while the other week supported by demand from 155,000 cu m ’Gaslog Shanghai’, In addition, PTT International four will be built by HHI, two several buyers in the region but according to shipping data. Trading, the Singapore-based trad- for an an Asian shipowner and declined later on expectations of Renewed cargo liftings helped to ing arm of Thailand’s state energy two for a European shipowner. higher production. boost Gulf Coast LNG cargo futures firm PTT, opened a tender seeking Each vessel will have a ca- Elsewhere, US natural gas fu- to their highest levels in 2020. cargoes for delivery from Decem- pacity of 174,000 cu m and tures jumped by more than 4% on However, Cameron LNG had not ber, 2020 to March, 2022 (see their deliveries are planned Monday as LNG exports continued resumed operations by the end of page 3). between second and last quar- to soar and output fell as Gulf last week. A report from consul- Pakistan LNG is seeking two ters of 2023. Coast producers shut some pro- tancy Energy Aspects said that the cargoes for delivery in November. They will be fitted with duction before Hurricane ‘Sally’ facility is expected to return by Mexican state power utility CFE GTT’s Mark III Flex membrane reaches the Louisiana coast. mid-October, adding that a ramp- opened a tender for a September containment system. The LNGC ‘Hoegh Gannet’ up in production from other US cargo and for one October cargo, berthed at Cheniere’s Sabine Pass plants will offset the halt of oper- Kuwait Petroleum Corp (KPC) Gas leak delays facility on 9th September, ship- ations at Cameron. sought a cargo for delivery in Melkoeya restart tracking data from data intelli- October and Colombia’s Calamari Equinor’s Melkoeya LNG gence firm Kpler, Refinitiv Eikon Chinese buyers project was seeking a September plant’s restart has been de- and ClipperData showed. Several buyers from China entered cargo. layed until 23rd September Its Corpus Christi LNG export the market last week seeking car- On the supply side, Angola LNG following a gas leak. plant in Texas was the first of the goes, industry sources reported to and Papua New Guinea export pro- Local police said emer- four US Gulf Coast-based facilities the newswires. jects reportedly offered cargoes gency services attended the for September and October. plant, which liquefies natural In addition, GAIL issued a ten- gas from Norway’s Arctic der for at least three cargoes to Snoehvit gas field. be loaded between May and July, “The alarm was sounded 2021 at Dominion’s Cove Point LNG during preparations to restart plant in Maryland on an FOB basis. the plant, and emergency ser- GAIL had booked 5.8 mill tonnes vices were notified. The situa- of US LNG per year on long term tion is under control,” an deals with Cheniere and Dominion Equinor spokesman said. from their respective Sabine Pass Located near Hammerfest, and Cove Point natural gas lique- northern Norway, the plant faction and export projects. has a capacity to process Earlier, the company had 18 mill cu m of gas per day. floated a tender looking to swap It had been scheduled to LNG cargoes loaded at Sabine Pass restart recently after a facility for delivery into India in short shutdown due to an ‘Höegh Gannet’ berthed at Sabine Pass last week 2022. n outage. n No part of this publication may be LNG Shipping News Editor Subscriptions reproduced or stored in any form by any 2 Prospect Road Ian Cochran Stephan Venter mechanical, electronic, photocopying, St Albans AL1 2AX +44 (0)7748 144265 Tel: +44 (0) 20 7253 2700 recording or any other means without the prior written consent of the publisher. 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