Clean Fuel
Gunvor to plunge into spot LNG
Gunvor Group is planing to expand into short-term buying and selling of LNG as global supply is on the rise. Trading house based in Cyprus will charter vessels for spot agreements to sell LNG cargoes in Asia and the Atlantic basin. Sources told Bloomberg that Gunvor will look for supplies from Niger
Gas reverse in Slovakia opened
Prime Minister of Ukraine Arseniy Yatsenyuk, the Prime Minister of Slovakia Robert Fico and Director for Internal Energy Market of the European Commission Klaus-Dieter Borchardt opened the commercial Vojany-Uzhgorod pipeline in Veľké Kapušany in Slovakia. Arseniy Yatsenyuk on behalf of the Governmen
PM: Klaipeda LNG terminal will be built on schedule
Lithuanian Prime Minister Algirdas Butkevicius said that the LNG terminal being built in Klaipeda will be completed in November, at the time when the FSRU built for the facility is scheduled to arrive to the port. Speaking to the local media Butkevicius said that the project is nearing completion an
Statoil, DNV GL to standardize subsea process technology
Statoil has entered into an agreement with DNV GL to establish an industrial cooperation to introduce an international industry standard for subsea process technology. DNV GL will lead a joint industry project (JIP) with important subsea operators to find industrial standards which will make it more
Saacke supplies gas combustion units for two LNG tankers
SAACKE Marine Systems said it will supply an integrated system consisting of a gas combustion unit (GCU), with a capacity of 3.5 tons per hour, and an SSB-LCG burner for gases with fluctuating heat values for two LNG tankers to be built by Imabari Shipbuilding of Japan. All the GCU components were d
Sound Oil gets approval for Nervesa EIA
Sound Oil, the Mediterranean focused upstream oil and gas company, said that the Treviso Province authorities have approved the Environmental Impact Assessment for the second appraisal well of the Nervesa gas discovery, which will target its Southern limb. It is expected that EIA final approval from
Centrica repurchases more shares
Centrica plc said it purchased (through Barclays Bank PLC) 750,000 Centrica plc ordinary shares at an average price of 318.7234 pence per share. The highest price and the lowest price paid for these shares were 319.00 pence and 317.50 pence respectively. The purchased shares will be held as treasury
Statoil resumes operations at In Amenas
19 months after the In Amenas attack, Statoil and the joint venture partners are ready to resume ordinary operations at the plant. In June, the corporate executive committee approved the return of temporary manning to the plant to finalise the implementation of the outstanding security requirements.
Power of Siberia pipeline construction starts
Yakutsk hosted celebrations dedicated to welding the first joint of the Power of Siberia gas transmission system (GTS) meant to be a crucial element of the gas supply system being built in eastern Russia. The GTS will convey gas from the Yakutia and Irkutsk gas production centers to the Far East and
We Tech equipment for Terntank LNG-powered tankers
WE Tech Solutions and Wärtsilä signed a contract for the delivery of four shaft generator solutions to a series of LNG fuelled tankers. Based in Vaasa, Finland, WE Tech is to deliver its direct drive permanent magnet shaft generator solution to a series of four LNG powered 15,000 DWT product tankers
Top news of the week August 25-30, 2014
Chevron struggling to sell Gorgon LNG capacity Chevron is having a hard time to complete the 20-years sales contracts for its Gorgon LNG export plant in Australia, as buyers look for cheaper deals. Wood Mackenzie: Malaysia could overtake Qatar on the LNG market Wood Mackenzie asserts that by 2020, M
Klaipedos Nafta profit drops 40 pct
SC Klaipėdos Nafta net profit for the six months of 2014 amounted to LTL 12.7 million (EUR 3.7 million), a 40.7% slump compared to the same period last year. The company’s sales income during the six months of 2014 amounts to LTL 57.8 million (EUR 16.7 million) or 19.8% down compared to the same per
Sovcomflot posts H1 profit of USD 63.6 million
OAO Sovcomflot of Russia announced its financial and operating results for the six months ended 30 June 2014, boasting a net profit of $63.6 million compared to the loss of $14.4 in the previous year. Gross revenue (Freight and Hire) rose to $675.2 million in H1 2014 compared to the first half of 20
Flex LNG posts Q2 results
Flex LNG said that the cash balances at 30 June were $0.4m (2013: $3.9m) with $0.4m net outflow (2013: $1.0m) in the quarter and $1.1m year to date (2013: $2.3m). In the six months in 2014 the operating cash outflow was $0.9m (principally the operating loss after excluding the non cash and working c