Clean Fuel
Centrica shares buyback continues
Centrica plc said it purchased (through Barclays Bank PLC) 750,000 Centrica plc ordinary shares at an average price of 318.9375 pence per share. The highest price and the lowest price paid for these shares were 319.80 pence and 317.40 pence respectively. The purchased shares will be held as treasury
Caribbean FLNG construction progressing well
Belgian LNG and LPG carrier owner and operator Exmar said that the construction of the world’s first floating liquefaction unit Caribbean FLNG at Wison Heavy Industry’s shipyard in Nantong, China is progressing as planned. Start of operations is scheduled from the second half of 2015. EXMAR and Paci
Gazprom guarantees gas supply to Kyrgyzstan
A meeting between Gazprom’s Management Committee Chairman Alexey Miller and Kyrgyz President Almazbek Atambayev took place in Bishkek as part of a working visit of the Gazprom delegation to the Kyrgyz Republic. The parties addressed the main cooperation issues in the oil and gas sector and noted tha
Ophir Energy restructures senior management
As part of a reorganisation across all levels of the company designed to reduce costs, and adjust to the future needs of the business, the Board of Ophir Energy is to restructure and streamline the senior management team. The restructuring will result in a smaller Board with the number of Executive
Future role of LNG in Europe shrouded in uncertainty
Demand for natural gas in Europe has fallen dramatically, which has led to a severe drop in imports of LNG. Today, there is considerable uncertainty over the future role of LNG in Europe’s gas supply. This has prompted Wood Mackenzie, a leader in commercial intelligence for the energy, metals and mi
Skangass gets permission for LNG terminal
The Swedish Government has granted Skangass permission to build and operate a new Terminal for LNG within the harbour in Gävle, Sweden. Skangass aims at starting the construction work during 2015. The permission is given for a storing capacity of 30 000 m3 LNG and a handling of up to 500 000 tonnes
Wartsila gets LNG supply vessels maintenance deal from Harvey Gulf
Wärtsilä has signed a long-term technical management agreement with Harvey Gulf International Marine. This five-year agreement covers condition based maintenance and dynamic maintenance planning for eight new offshore supply and multi-purpose support vessels – six liquefied natural gas (LNG) fuelled
C&I Leasing, Svitzer sign MOU
C&I Leasing signed an MOU with Svitzer, a unit of Maersk Group, a global shipping and offshore services group, to collaborate towards obtaining a contract with Nigeria Liquefied Natural Gas for terminal support tugs and pilot vessels. Under the terms of the MOU, it is intended that Svitzer will prov
Drewry: LNG shipping faces tough times
Continuing weak demand and excess tonnage are expected to depress LNG shipping earnings in the near term. But longer term the sector could face vessel shortages as ordering slows and liquefaction projects come on stream, according to the LNG Shipping Market Annual Review and Forecast report publishe
Medvedev: LNG carrier fleet gives Gazprom market advantage
Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee took part in the naming ceremony for an LNG carrier in the city of Jinhae (South Korea). The vessel with a cargo capacity of 170.200 cubic meters was named Pskov. Equipped with a specialist diesel-electric drive, Pskov is among
Golar LNG posts Q2 net loss of USD 24.2 mln
Golar LNG reported a second quarter 2014 net loss of $24.2 million, including a non-cash loss of $13.6 million on interest rate swaps. The company’s second quarter results show EBITDA of $1.1 million. Operating revenue at $21.1 million was consistent with first quarter 2014 operating revenue of $21.
Fitch Ratings: EU will not cut reliance on Russian gas soon
Europe is unlikely to be able to reduce its reliance on Russian natural gas for at least the next decade and potentially much longer, Fitch Ratings says. At best the European Union may be able to avoid significantly increasing its gas purchases from Russia. Any attempt to improve energy security by
Klaipedos Nafta to expand LNG infrastructure
Klaipedos Nafta, implementing a liquefied natural gas (LNG) terminal project, said it is getting interest from market participants regarding LNG reload into railway wagons, LNG trucks and LNG bunkering. In order to determine the potential demand of such LNG services and amounts, the company announce
Wartsila upgrades its LNG technical solutions
With LNG becoming increasingly viable and popular as a marine fuel, Wärtsilä continues to develop technical solutions that facilitate this trend. The latest Wärtsilä developments in this field involve an upgraded version of the Wärtsilä LNGPac, a fully integrated fuel gas handling system, and improv