CS LNG News Update: 3rd May 2019
By CS LNG, May 7 2019 10:47AM
1. WORLD'S SECOND-BIGGEST LNG TANKER CLASS VESSEL TO TRANSIT PANAMA CANAL FOR FIRST TIME
A vessel in the world's second-largest liquefied natural gas (LNG) tanker class is set to pass through the Panama Canal for the first time, the canal's chief executive said, expanding the Americas to Asia trade route for the fast growing commodity. The 'Al Safliyah', a 'Q-flex' tanker able to carry about 210,000 cubic metres of LNG, is currently in the North Pacific and on its way to Panama after discharging a cargo from Qatar into Korea Gas Corp's (KOGAS) Tongyeong terminal on April 21, shipping data in Refinitiv Eikon showed. "This is the first Q-Flex to transit the Panama Canal," Jorge Quijano, chief executive of Panama Canal Authority told Reuters. The Panama Canal was expanded in mid-2018 to handle larger oil and gas tankers, but this is the first time an LNG tanker of this size will pass through it. "This size of vessel can use the Panama Canal and could be deployed to carry LNG from the natural gas liquefaction plants in the U.S., Trinidad and Tobago and Peru," Quijano said. The ship's charterer is Qatargas, according to LNG trading and broker sources.
[Source: The Economic Times 03/05/2019]
CS LNG comment: This sounds like a very expensive PR exercise otherwise why on earth would a ballasted Qatari ship cross the Pacific to transit the Panama Canal. Possibly loading at Sabine for a trip to Europe? It will be good to read the report on the transit though.
2. EXCELERATE BEGINS OPERATIONS AT SECOND OFFSHORE LNG FACILITY IN BANGLADESH
The Woodlands liquefied natural gas company Excelerate Energy has placed its second offshore LNG facility in Bangladesh into service. Specializing in offshore import terminals that use a special type of LNG tanker known as floating storage and regasification units, or FSRUs, Excelerate Energy said its Summit LNG project is now in operations in the Bay of Bengal. Anchored about 1.25 miles away from Excelerate Energy's Moheshkhali Floating LNG terminal near Cox's Bazaar, Bangladesh, Summit LNG is expected to double the South Asian nation's LNG import capacity. "The successful completion of the Summit LNG Terminal represents a significant positive change to Bangladesh's energy supply – helping bolster local industry while benefiting the citizens of the country," Excelerate Energy Managing Director Steven Kobos said in a statement. Developed through a 2017 concession from Bangladesh's state-owned company Petrobangla, Summit LNG has the capacity to deliver 500 million cubic feet of natural gas per day through an underwater pipeline. "This natural gas will provide huge impetus to growth and development of Bangladesh. Summit will continue its endeavor to provide low cost environmentally friendly energy solutions to Bangladesh," Summit Group Founder Chairman Muhammed Aziz Khan said in a statement.
[Source: Houston Chronicle 02/05/2019]
CS LNG comment: Hopefully a more successful start up than their previous FSRU in Bangladesh.
3. NSW APPROVES PORT KEMBLA LNG TERMINAL
NSW has approved plans by mining billionaire Andrew Forrest and Japanese partners to build a $250 million liquefied natural gas import terminal at Port Kembla, looking to cut gas prices and avert a supply shortage. The Port Kembla project is the first of five proposed LNG import terminals in Australia to receive planning approval. All of them are looking to help plug a looming supply shortage expected in Australia’s south-east in the 2020s. Australian Industrial Energy, the joint venture planning to build the berth for a floating LNG import facility at Port Kembla, about 100km south of Sydney, said with the approval in hand it would focus on lining up gas customers. It is aiming to make a final investment decision around the middle of this year. “This terminal could supply 70 per cent of our State’s annual gas demand and help ease the cost of energy bills for NSW families and small business owners,” NSW Energy and Environment Minister Matt Kean said. The joint venture partners are Mr Forrest’s Squadron Energy, world’s biggest buyer of LNG JERA Co and Japanese trading firm Marubeni. If they decide to go ahead with the project in the middle of this year, first gas could be delivered by late 2020, they said. “We look forward to providing the best solutions to secure stable and competitive gas supply for the businesses and people of NSW by utilising our own expertise as one of the world’s largest LNG players,” JERA’s head of upstream resources, Gaku Takagi, said in a statement. JERA is a joint venture between Tokyo Electric Power and Chubu Electric Power.
[Source: The West Australian 30/04/2019]
CS LNG comment: But can they be supplied by Australian LNG? Should do!