Following a fraught December and early January, the latest developments in the possible all-cash takeover by Indonesia’s Medco Energi of London-based Ophir Energy, including its heavyweight Fortuna FLNG project in Equatorial Guinea, are due to be revealed on Tuesday (15 January).
Higher spot freight rates could make inter-regional arbitrage less economic, making it costlier to ship LNG to Asian customers and impacting long-haul trades like the US-Asia trade route and reloads from Europe into Asia.
Owned by the government’s Turkish Petroleum Pipeline Corporation, 345-m long FSRU Challenger with a storage capacity of 263,000 m3 has been taking gas since 2 January in a two-day operation from Qatar’s Al Sadd, a 315-m long tanker with a capacity of 206,000 m3.
Twenty companies submitted expressions of interest for a total of up to 12.2 billion cubic meters/year of regasification capacity reservation at the floating terminal and delivery to the Greek national natural gas transmission system.
LNG will be sourced from a floating storage regasification unit (FSRU) and high-speed diesel will be sourced from Indian Oil Corporation’s (IOCL) existing depot at Andaman and Nicobar as per requirement, the company said.
Belgium based EXMAR announced Thursday that its floating liquefied natural gas (FLNG) facility has left China for a 45-day voyage to the destination of its liquefaction operations at the Port of Bahia Blanca in Argentina.
As the end of the year approaches, we can reflect on a buoyant year for the LNG market characterised by heady earnings and the resumption of new orders; acceptance of LNG as a fuel’s environmental credentials being matched with positive action; rapid growth in small-scale LNG; FLNG ‘coming of age’; and LNG bunkering ships becoming available in key locations.