LNG featured news

LNG featured news

SHI Unveils LNG Regasification System for FSRUs

South Korea’s shipbuilder Samsung Heavy Industries (SHI) has developed a LNG regasification system for LNG floating storage regasification units (FSRUs). The system, called S-Regas(GI), utilizes glycol to regasify LNG into gas. It was presented to industry leaders on September 21. As SHI’s latest re...Read More

Analyzing the LNG industry in BC as another company bails

Last week, another blow was delivered to BC’s LNG industry when the partners behind the $28 billion Aurora LNG project pulled the plug after four years of analysis. The setback is forcing many people to wonder, what is the future of liquefied natural gas in this province? NEWS 1130 put that question...Read More

ABS grants AIP to Hyundai Heavy Industries FLNG hull design

ABS, the leading provider of classification and technical services to the global offshore industry, has granted Approval in Principle (AIP) to Hyundai Heavy Industries (HHI) floating liquefied natural gas (FLNG) hull design, the company said in its press release. ABS and Hyundai Heavy Industries col...Read More

Korea to Build 15 LNG Carriers for Russia

A Korean company has received a contract to build 15 ice-breaking LNG carriers for Russia, the President of South Korea Moon Jae-in said while speaking at the Eastern Economic Forum in Vladivostok on Thursday, September 7. The tankers are said to be intended for the transportation of liquified natur...Read More

US DOE Pushing for Small-Scale LNG Exports

The US Department of Energy (DOE) has proposed a rule that will provide for faster approval of small-scale exports of natural gas, including liquefied natural gas (LNG), from US export facilities. The US small-scale LNG export market involves exports of small volumes of natural gas from the United S...Read More

HMM Launches USD 580 Mn Shopping Spree

South Korean shipping company Hyundai Merchant Marine (HMM) is moving forward with its plans to modernize fleet and has set sights on adding seven ships with options for five more. Specifically, HMM will acquire two large container vessels at a 10% lower price than the current market price as it eye...Read More

Hyundai Heavy Industries wins FSRU order from India

South Korea’s largest shipbuilder Hyundai Heavy Industries Co. won a floating, storage, re-gasification Unit (FSRU) deal from an Indian company. It is the second FSRU order the company received this year. According to sources from the shipbuilding industry on Wednesday, Hyundai Heavy Industries rece...Read More

Offshore, Gas Businesses Help SCF Stay Afloat

Russian shipping company PAO Sovcomflot (SCF Group) recorded a net income of USD 15.2 million in the first half of 2017, a 90.8 percent drop from USD 166 million posted in the same period a year earlier.  As explained, a strong performance from the offshore and gas divisions provided a relief agains...Read More

S-OIL Seals Long-Term Deal to Directly Import LNG with PETRONAS

S-OIL announced on August 25 that it signed an agreement to purchase 700,000 tons of LNG per year from Malaysia’s PETRONAS. The contract will run for 15 years from April of next year to 2033. The signing ceremony was held at the PETRONAS headquarters attended by Osman Al Gamdi, CEO of S-OIL an...Read More

DSME Accelerates Liquidating Subsidiaries for Restructuring

It has been found that Daewoo Shipbuilding & Marine Engineering (DSME) liquidated Pangea LNG B.V., one of its subsidiaries abroad, in June this year. Pangea LNG was established in 2012, fully invested by DSME, to participate in shale gas development projects in the United States and Israel. DSME...Read More

Korea’s FTC to Tackle Destination Clauses of LNG Trade Contracts

The Korea Fair Trade Commission (KFTC) is examining the illegality of the destination clauses of LNG import contracts between South Korean gas companies and exporters such as Qatar. At present, the KFTC and LNG importers in South Korea are regarding the clauses as a kind of poison pill. This controv...Read More

Hyundai Vinashin Tied to USD 160 Mn Tanker Deals

Vietnam-based Hyundai-Vinashin Shipyard, a joint venture between Hyundai Heavy Industries and Vietnam Shipbuilding Industry Corporation, has reportedly secured five tanker orders over the past week from three Japanese shipowners. Namely, Fukujin Kisen and Masumoto Shipping are linked to an order for...Read More

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