Clean Fuel
Cyprus to Talk LNG Project Financing with Deutsche Bank
Representatives from Deutsche Bank are due in Cyprus on Thursday to meet the country’s Energy Minister, Giorgos Lakkotrypis, to discuss LNG terminal funding. According to the Cyprus News Agency, visits from Deutsche Bank and European Investment Bank, anticipated in May, are a sign of the government’
Klaipedos Nafta to Start LNG Terminal Capacity Booking
Klaipedos Nafta has approved the regulations for use of the LNG terminal following the pre-approval by the National Commission for Energy Control and Prices of Lithuania (NCECP). Therefore, the company announced that LNG terminal capacity booking (the open season) starts 30th April. From the start o
UKOOG: Huge Opportunities from Shale Gas Development in UK
A UKOOG commissioned report by EY underlines the development of shale gas in the UK could create a £33bn investment opportunity for British business with the potential to create over 64,000 jobs. UKOOG’s “Getting ready for UK shale Gas”, forecasts that to drill up to 4000 laterals (horizontal wells)
GasLog Mulls Norwegian Bond Issuance
GasLog, an international owner, operator and manager of LNG carriers, said that it is contemplating the issuance of senior unsecured bonds in the Norwegian bond market. The company intends to list the contemplated bonds on Oslo Stock Exchange as soon as possible. DNB Markets, Nordea Markets and SEB
Technip Net Income at EUR 67 Mln
Technip said its operating income was €120 million in the first quarter of 2014, versus €172 million a year ago. Highlights: order intake of €2.8 billion including major Subsea awards such as Block 15/06 in Angola; revenue of €2.5 billion; operating margins1: Subsea 5.5% and Onshore/Offshore 5.9%; n
PIRA: Asian Spot LNG Prices Fall, Opportunities for Flexible Buyers Rise
PIRA Energy Group reports that as Asian LNG spot prices come down, opportunities are going up for flexible buyers. In North America, Canadian exports will play a vital role in determining gas supply available for U.S. storage refills in the months ahead. In Europe, Russian gas marketers are quietly
LNG Carrier Due at UK South Hook Next Week
The UK’s South Hook liquefied natural gas terminal is expected to receive a cargo of LNG on April 30, port data reveals. The Fraiha LNG carrier, with a capacity of 210,000 cubic metres, is transporting the cargo from Ras Laffan, Qatar. Qatar Petroleum owns 67.5 per cent of South Hook LNG Terminal Co
Wartsila Order Intake Drops 16 Pct
Wärtsilä of Finland said its order intake decreased 16% to EUR 1,142 million in the first quarter of this year. Highlights: – net sales increased 15% to EUR 1,012 million (882); – Book-to-bill 1.13 (1.53); – Operating result before non-recurring items EUR 90 million, or 8.9% of net sales (EUR 70 mil
Amec Order Book Up
Amec said it is on track to meet expectations and the company’s order book was at £4.2 billion at 31 March of 2014 (December 2013: £4.1 billion; March 2013: £3.7 billion). AMEC Chief Executive Samir Brikho said: “AMEC has continued to trade in line with expectations for 2014 and our record order boo
Gazprom, Austria Discuss Russian Gas Supply Routes to Europe
Alexey Miller, CEO of Gazprom and Gerhard Roiss, CEO of OMV met in Vienna on Tuesday where they addressed the issues of Russian natural gas supply to Austria. Gazprom’s activities as of a reliable supplier largely contributing to the Austrian and European energy security were highly appreciated. It
Navigator Exercises Option with Jiangnan Shipyard for Three Vessels
Navigator Holdings exercised its option to build an additional three 35,000 cubic meter ethylene/ethane capable semi-refrigerated liquefied gas carriers, in addition to the one vessel of the same size already under construction. The three additional vessels will be built at Jiangnan Shipyard in Chin
Trio Selected to Ship LNG from Yamal Project
Russia’s Yamal LNG project, operated by Novatek, has reportedly chosen Sovcomflot of Russia, Mitsui OSK of Japan and Teekay LNG of Canada to build tankers worth $5 billion. The shipping companies would build 16 ice-class tankers and ship the LNG from the terminal which is being built on the Yamal Pe
AEA: Biden Pledges Technical Know-How for Boosting Ukrainian Domestic Production, Not US LNG Exports
Vice President Biden pledged that the U.S. will aid Ukraine with “technical know-how” to help Ukraine boost its own domestic natural gas production, including providing a technical team to help ensure swift and environmentally sustainable implementation of contracts for shale gas development. “This
FMC Technologies 1Q14 Turnover Up 11 Pct
FMC Technologies reported first quarter 2014 revenue of $1.8 billion, up 11 percent from the prior-year quarter. Total inbound orders were $2.6 billion and included $1.9 billion in Subsea Technologies orders. Subsea Technologies backlog was $6.8 billion. “As a result of strong orders in the quarter,