Clean Fuel
Picture of the Day: Methane Karin Elin by BG
The Methane Karin Elin LNG tanker is a part of BG Group’s core fleet of LNG ships. She is a membrane type LNG carrier with a storage capacity of 138,267 m3. The LNG tanker was built in 2004 by SHI in South Korea. [mappress] LNG World News Staff, February 26, 2014; Image: BG
Repsol, Argentina Reach Deal for YPF Seizure
Repsol of Spain said on Tuesday it has agreed to accept US$5 billion for Argentina’s expropriation of the company’s shares in YPF, ending a two-year dispute. The company initially sought US$10.5 billion in compensation. “The agreement reached between the Republic of Argentina and Repsol recognises t
Total: LNG Sales Rise 23 Pct in Q4
Total of France said its LNG sales in the fourth quarter of 2013 were at 3.35 million tonnes, a rise of 23 percent compared to the same period last year. The company’s LNG sales in 2013 totalled 12.13 million tonnes, up 6 percent compared to a year before. Total’s adjusted net income decreased by 12
Awilco LNG Freight Income Drops in 2013
Awilco LNG of Norway reported a freight income of MUSD 54.7 in 2013 compared to MUSD 56.6 in 2012. The decrease was due to lower utilisation and charter rates on the 2nd generation vessels, offset by the effect of increased fleet size in the second half of 2013, the company said in a statement. Outl
Repsol 2013 Net Income Down
Repsol posted a recurring net income of 1.823 billion euros for 2013, calculated at current cost of supply (CCS), 6.7% lower than the previous year. These earnings – that exclude atypical results and take into account replacement costs of raw materials and products – reflect Repsol’s ongoing busines
Novatek Revenues Up 41 Percent YoY
Novatek, the developer of Russia’s Yamal LNG project, said its total revenues grew by 41.3% year-on-year to RR 298.2 billion for the twelve months ended 31 December 2013 from RR 211.0 billion in 2012. The growth was due to an increase in hydrocarbon sales volumes and higher natural gas and liquids p
BNK Petroleum Drills Polish Shale Gas Well
BNK Petroleum provided update on its Polish shale gas project. BNK has successfully drilled, cased and cemented its Gapowo B-1 horizontal well with excellent gas readings regularly recorded throughout the lateral. The well successfully drilled the targeted over-pressured, gas charged, organic-rich L
Gazprom, Srbijagas Discuss South Stream Progress
Alexey Miller of Gazprom and Dusan Bajatovic, Director General of state-owned Srbijagas, met in Sochi where they discussed the cooperation in the oil and gas sector, touching upon Russian natural gas supply, underground storage, joint infrastructure projects and interaction in the energy sector. “Sp
Gasum to Buy Stake in Skangass
Gasum will acquire the majority (51 percent) of Norwegian Skangass’ distribution operations from the Lyse Corporation. The acquisition is a part of Gasum’s strategy of improving the availability of competitive liquefied natural gas in Finland. The aim of the joint venture is to take a strong positio
Gazprom, OMV Discuss Gas Supplies to Austria
Sochi hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Gerhard Roiss, Chief Executive Officer of OMV. “The parties discussed the bilateral cooperation issues, particularly Russian natural gas supplies to Austria,” Gazprom said in a statement. “The meet
LNG Tanker Due at UK South Hook This Week
UK’s South Hook liquefied natural gas terminal is expected to receive a cargo of LNG on March 2, port data reveals. The Lijmiliya LNG tanker, with a capacity of 263,oo0 cbm, is transporting the cargo from Ras Laffan, Qatar. The South Hook terminal can process 15.6 million tonnes of LNG a year and is
Gazprom, Shell Sign Roadmap for Sakhalin Third LNG Train
Alexey Miller of Gazprom and Shell’s CEO Ben van Beurden signed on Sunday a memorandum-roadmap for the preparation of FEED documentation for the third LNG production train within the Sakhalin II project in Russia. “The global LNG market is booming – primarily in Asian countries. Novel LNG production
Top News of The Week February 17-22, 2014
Apache: Kitimat LNG Project (VIDEO) Apache posted a video of the Kitimat LNG project which is being built in British Columbia, Canada. Foster Wheeler Lands Snohvit LNG Contract Foster Wheeler said that a subsidiary of its global engineering and construction group has been awarded a contract by Stato
BG CEO Speaks at IP Week
BG Group’s CEO Chris Finlayson was the guest of honour and speaker at the International Petroleum (IP) week dinner, held in London last night. This year is the centenary of the inaugural meeting of the Institution of Petroleum Technologists, the forerunner of the Energy Institute, which organises IP