Clean Fuel
EU to Co-finance LNG for Ships Studies in Spain
The European Union will co-finance with a little over €1 million from the TEN-T Programme a series of studies to help make the liquefied natural gas (LNG) supply for ships a reality on the Spanish Mediterranean coast. The studies, which were selected for funding under the 2012 TEN-T Annual Programme
GasLog Sees Profits Rise
GasLog, an international owner, operator and manager of LNG carriers, said its profit was $21.4 million and $56.9 million for the quarter and the year ended December 31, 2013, respectively ($2.7 million and $4.3 million for the quarter and the year ended December 31, 2012). This increase is mainly a
Fjord Line to Christen Second LNG Ferry
Mayor Trude Drevland will christen the second of Fjord Line’s two new LNG -powered cruise ferries in Bergen on Thursday 6 March. During the two following days, people in Bergen and Stavanger are invited aboard MS Bergensfjord before the ship embarks on its first sailing with passengers. Fjord Line w
Flex LNG Posts Q4 Results
Flex LNG said its cash balances at 31 December were $1.5m (2012: $6.2m) with $1.7m net outflow (2012: $1.5m) in the quarter and $4.7m (2012: $8.5m) year to date. In the twelve months in 2013 the operating cash outflow was $4.1m (principally the operating profit after excluding the non cash and worki
Hoegh LNG Q4 Income at USD 51.6 Million
Höegh LNG of Norway reported USD 51.6 million in total income in the fourth quarter of 2013, up from USD 37.6 million in the fourth quarter of 2012. Operating profit before depreciation was USD 8.9 million in the quarter, down from USD 20.6 million in the fourth quarter 2012. The deviation is mainly
Eni, Statoil Sign Gas Supply HoA
Eni has signed a heads of agreement with Statoil on the revision of the terms of its long-term gas supply contract. These revisions include amongst others pricing and volume. The arbitration proceedings initiated by Eni are therefore suspended for 30 days, allowing the parties to complete a detailed
EBRD Funds Development of Shah Deniz Offshore Gas Field
The European Bank for Reconstruction and Development (EBRD) is continuing to invest in projects that will strengthen the security of energy supply in its region of operations. The EBRD is extending a senior loan of US$ 200 million to LUKOIL Overseas Shah Deniz Ltd, a wholly-owned subsidiary of LUKOI
Foster Wheeler Profits Drop
Foster Wheeler reported a loss from continuing operations for the fourth quarter of 2013 of $37.2 million, compared with income from continuing operations of $18.6 million in the fourth quarter of 2012. Income/loss from continuing operations in both quarterly periods was impacted by net asbestos-rel
Forty Years of Russian Gas in Finland
Russian natural gas has been supplied to Finland throughout 40 years. This milestone event was celebrated on 27 February in Helsinki, and was also associated with the twentieth anniversary of Gasum, a partner of Gazprom Export on the Finnish market. The cooperation of two countries started in 1971,
Gazprom, Armenia Discuss Cooperation in Energy Sector
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Serzh Sargsyan, President of the Republic of Armenia took place in Yerevan as part of Gazprom delegation’s visit to Armenia. The parties addressed the main cooperation issues in the energy sector. It was stress
GDF Suez LNG Sales Climb
GDF Suez recorded a growth in the company’s 2013 external LNG sales, with volumes amounting to 79 TWh for the year, representing 87 cargoes, of which 67 were shipped to Asia (2012: 60 TWh for 66 cargoes, of which 39 were shipped to Asia). The contribution of the company’s Global Gas & LNG business t
GNF Opens LNG, CNG Service Station in Alovera, Spain
Gas Natural Fenosa opened a natural-gas vehicle refuelling station in Alovera (Guadalajara), Spain. The Alovera service station can supply both compressed natural gas (CNG) and liquefied natural gas (LNG). This facility, located on the A-2, is part of the energy multinational’s strategy for creating
PIRA: Record High Spot Price Quotes in Asia
PIRA Energy Group reports record high spot price quotes in Asia. In the U.S., consuming East storage is becoming vulnerable. In Europe, changing supply dynamic is at the heart of future gas pricing in Europe. Specifically, PIRA’s analysis of natural gas market fundamentals has revealed the following
Cavotec to Supply Mooring Systems for Danish LNG Ferry
Cavotec said it has been awarded an order for two MoorMaster™ MM400 units that will be used in conjunction with a new-build LNG passenger (and vehicle) ferry on a frequent service between Hov, in Jutland, and Saelvig, located on the west coast of the island of Samsoe in Danmark. The order includes i