Latest NYK Shipmanagement News
Sep 24, 2021
2. Exports – 175 mentions Pieridae Energy’s plans to take a final investment decision (FID) on Goldboro LNG export plant, the surge in US LNG exports, and Sempra’s plans to delay FID on proposed LNG facility in Texas were some of the popular discussions around exports in the last quarter. BOE Report, an oil and gas news website based in Canada, shared an article on Canada-based energy company Pieridae Energy’s announcement of planning to take the FID for developing the $10bn Goldboro LNG export plant in Nova Scotia by end of June this year. Pieridae has signed a 20-year agreement to sell the entire production of the plant’s first liquefaction train or five million tonnes per annum (Mtpa) to a company named Utility, according to the article. Utility is a power utility based in Germany. Charles Ellinas, CEO of EC Natural Hydrocarbons Company (eCNHS), an advisory and consultancy services company focused on the oil and gas sectors, shared an article on the increase in LNG exports from the US to China, Japan, and South Korea. The three countries are witnessing record high levels of fuel demand as they are recovering from the Covid-19 pandemic. Exports from the US to the three countries reached 3.2 million tonnes (Mt) in February, which is roughly 2.5 times more than the usual monthly levels. The rise in exports volume is a result of the completion of several export terminals although the future projects are expected to face tough competition from Qatar, which is undertaking massive export capacity expansion. Another discussion on LNG was shared by Susan Sakmar, visiting assistant professor and energy law scholar at the University of Houston Law Center, on US-based energy company Sempra Energy delaying its plans to take FID on building a LNG facility near Port Arthur, Texas, to 2022. The FID for the 11Mtpa project was scheduled to be taken in 2021, but delayed due to the impact of the Covid-19 pandemic. Pieridae still plans FID on Nova Scotia LNG export plant by late June https://t.co/xhGKPQIzUh 3. Supply – 153 mentions Puget LNG’s agreement with GAC Bunker Fuels to supply LNG marine fuel, and supply agreement between bp Singapore and Pavilion Energy for LNG supply were some of the popular discussions in Q2. Svetlana Modeva, editor at VesselFinder, a vessel tracking website, shared an article on LNG supplier Puget LNG and marine fuel supplier GAC Bunker Fuels signing a Memorandum of Understanding (MoU) on supply. Puget LNG will supply clean-burning LNG marine fuel to GAC’s customers in the Pacific Northwest from its LNG terminal being developed in Tacoma, US. The Tacoma LNG terminal is expected to be operational by the second quarter of 2021 and will be the first terminal on the west coast of North America with direct loading access facility for bunker barges. Supply was also discussed in an article shared by Will Dawson, executive producer at LNG TV, a media channel dedicated to the oil and gas sector, on the agreement signed between energy companies bp Singapore and Pavilion Energy to supply LNG to Singapore. Pavilion Energy will purchase 0.8Mt of LNG from bp Singapore for a period of ten years starting from 2024, as part of the agreement. The two companies will also develop a quantification and reporting methodology for greenhouse gas emissions. Sea-LNG member Puget LNG joins forces with GAC Bunker Fuels to supply LNG marine fuel by barge from the Port of Tacoma https://t.co/h6jZPejYEz #PugetLNG #GACBunkerFuels #LNG #MarineFuel #GAC #Tacoma 4. Imports – 73 mentions Asia’s LNG imports remaining strong despite the coronavirus pandemic, and China’s plans to limit LNG imports from Australia were some of the discussions around imports in Q2 2021. LNG Global, a website focused on the oil and gas sector, shared an article on Asia’s LNG imports remaining strong despite the pandemic sparking demand-related worries in India and Japan. Imports were projected to increase in May to 22.37Mt compared to 18.96Mt in May 2020. The strong imports led to a surge in LNG spot prices in Asia, compared to the decline witnessed during the winter. The spot price of LNG in May was recorded at $9.41/mmBtu, which is 68% higher than the post-winter low of $5.6/mmBtu in February. Imports was also discussed by Clyde Russell in an article on China’s plans to limit LNG imports from Australia following an ongoing political dispute. China has already banned import of Australian coal, while LNG may be next on the country’s list, the article highlighted. Chinese officials have informally asked second-tier LNG buyers in the country to avoid taking Australian LNG cargoes. China plans to fill the gap by sourcing from suppliers in the US and Qatar. China took a similar approach by cutting coal imports from Australia, but is having to import the same at higher prices from other sources, noted the article. ICYMI – Asia's #LNG imports stay robust, justifying strong spot prices https://t.co/fps3BWkWZ6 5. Cargo – 67 mentions The first carbon-neutral LNG cargo being imported by Pavilion Energy, delivery of carbon-neutral LNG cargo to Europe by Shell and Cheniere, and DNV certification obtained by NYK Shipmanagement for online cargo-handling training for oil tankers were some popular discussions in Q2. Susan Sakmar shared an article on Pavilion Energy importing the first carbon-neutral cargo to Singapore. The carbon emissions from the well-to-tank of LNG cargoes will be offset by carbon credits sourced from Pavilion’s carbon offset projects. The carbon credits used for the cargo are from the company’s climate solutions projects located in Peru and China. Pavilion is also working with partners to develop a system to measure and calculate emissions associated with LNG cargoes, the article stated. Center for LNG, a trade association, shared a press release from energy company Cheniere Energy on the delivery of carbon-neutral US LNG cargo to Europe with Shell Energy. The cargo was supplied from Cheniere’s Sabine Pass Liquefaction facility and the emissions associated with the cargo were removed using offsets purchased from Shell’s nature-based projects. Each carbon offset is equivalent to the removal of one tonne of carbon dioxide emission (CO2e) and is verified by a third-party. Another discussion on cargo was shared by Svetlana Modeva on NYK Shipmanagement (NYKSM) receiving DNV certification for an online cargo-handling simulator training for LNG carriers and oil tankers. It is the first such certification for an Asia-based company and confirms that the training adheres to International Maritime Organization (IMO) guidelines. The training is provided to seafarers working on carriers and oil tankers and enables NYKSM to provide training during the pandemic, the article stated.