News Archive
15 Dec 2023
Dеmand for natural gas slows but LNG еxpеctеd to incrеasе 25%
Thе global dеmand for natural gas has bееn еxpеriеncing significant shifts, particularly in thе contеxt of thе rеcеnt еnеrgy crisis and еvolving markеt dynamics. According to thе Intеrnational Enеrgy Agеncy (IEA), sеvеral kеy trеnds arе influеncing thе global natural gas markеt: Rеducеd Growth Ratе Natural gas Thе growth in global gas dеmand is sеt
15 Nov 2023
Latest updates in the LNG (Liquefied Natural Gas) shipping industry:
Here are the latest updates in the LNG (Liquefied Natural Gas) shipping industry: New LNG-Powered Vessel NYK Line, a major shipping company, has recently added a new LNG-powered pure car and truck carrier, the Sweet Pea Leader, to its fleet. This is a significant development in the adoption of cleaner fuel alternatives in the shipping
07 Nov 2023
25-year lease deal for two LNG carriers
China Merchants Energy Shipping (CMES) announced it has entered into an extended transport contract with a subsidiary of PetroChina to transport two LNG carriers currently being constructed by CMES. Wong Wah Environmental Services Limited has confirmed via stock exchange filing that CMES has signed an agreement with China Petroleum International Hong Kong on November 7,
22 Sep 2023
Qatar State Corporation Rebrands to Focus on LNG Energy Transition
Qatargas, owned by state-owned Qatar Energy, has changed to Qatar Energy LNG to highlight the role that liquefied natural gas plays in energy transition and security. History of Qatar Energy In 1939, Dukhan 1 was the inaugural well drilled in Qatar Energy’s history. Development continued after World War II and by 1949 crude exports
25 Jul 2023
LNG Regasification – Unlocking the Potential of Natural Gas
Liquified Natural Gas (LNG) regasification is an indispensable process in the global natural gas industry, facilitating its safe and efficient transportation over long distances. Natural gas is an abundant and clean source of energy that has gained significant traction as an energy transition fuel in recent years; LNG regasification plays a pivotal role in making
11 Jul 2023
Warren Buffett Takes Majority Ownership Of Cove Point LNG
Berkshire Hathaway, Warren Buffett’s investment vehicle, announced that they have purchased Dominion Energy’s share in Maryland’s Cove Point LNG project from Dominion Energy. Berkshire Hathaway’s purchase of Cove Point at an estimated cost of $3.3 billion brings its stake to 75%; Brookfield Infrastructure Partners holds the remaining stake, according to Bloomberg reports. Cove
15 Nov 2022
Gas markets remain tight into 2023
The IEA’s latest quarterly Gas Market Report is highly suggestive of continued market tightness spilling into 2023. This outcome is a continuation of Russia’s restricting trading of LNG. The reduction in trade has rocketed international prices, creating minor fuel shortages for plenty of emerging and developing economies across the globe. Since 2021, the natural gas
07 Nov 2019
The world’s largest LNG fuelled pure car truck carrier ordered by NYK
In a statement from NYK they have announced that they have placed an order for the world’s largest pure car truck carrier (PCTC) to be solely powered by LNG. The ship is scheduled for delivery next year and will be able to transport around 7000 units per voyage, and will be built in Japan. The
02 Nov 2018
The LNG Shipping Market Is Increasing with Many Countries Looking to the Future
The requirements for LNG shipping look set to grow as the global natural gas markets are being reshaped as more existing and emerging markets look at increasing imports of LNG. With many countries looking to diversify energy dependency on Russian gas exports, Europe is looking to the US to increase its imports of LNG. Poland
28 Nov 2017
Growth for LNG in ASIA looks very promising
Asia is seeing rapid growth with expanding population and urbanisation and increasing standards of living. LNG is becoming the fuel of choice in this area, with both land based import terminals and floating storage and regasification units (FSRUs) becoming increasingly popular. Coal still remains a popular option in terms of cost, however with the lower
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