Qatar alone plans to more than double its LNG output, from 30m tonnes annually currently, to 77m tonnes by 2010. Besides Qatar, there are also reports of projects in Kuwait and Australia becoming operational in 2010. "Suppliers in Africa, the Middle East and Europe are threatening the dominance of Asia," EI said. According to an estimate by Energy Information Agency of the US, world's natural gas consumption is expected to increase from 105 trillion cubic feet in 2005 to 158 trillion cubic feet in 2030. Another estimate by energy analysis agency Future Energy sets 2.4 per cent as the rate for growth in demand for natural gas in the coming years. The report comes close on the heels of at least two major projects – one in Taiwan (a storage terminal) and the other in Qatar getting delayed. EI said delays in global projects, coupled with soaring demand for gas, are contributing to short-term LNG supply shortages and escalating prices.
Monday, February 16, 2009
'Oversupply' of LNG in 2009
Qatar: An additional 100m tonnes of liquified natural gas is scheduled to come online in 2009 and 2010, a 50% increase on current capability, creating a possible oversupply on world markets.
Qatar alone plans to more than double its LNG output, from 30m tonnes annually currently, to 77m tonnes by 2010. Besides Qatar, there are also reports of projects in Kuwait and Australia becoming operational in 2010. "Suppliers in Africa, the Middle East and Europe are threatening the dominance of Asia," EI said. According to an estimate by Energy Information Agency of the US, world's natural gas consumption is expected to increase from 105 trillion cubic feet in 2005 to 158 trillion cubic feet in 2030. Another estimate by energy analysis agency Future Energy sets 2.4 per cent as the rate for growth in demand for natural gas in the coming years. The report comes close on the heels of at least two major projects – one in Taiwan (a storage terminal) and the other in Qatar getting delayed. EI said delays in global projects, coupled with soaring demand for gas, are contributing to short-term LNG supply shortages and escalating prices.Read More
Qatar alone plans to more than double its LNG output, from 30m tonnes annually currently, to 77m tonnes by 2010. Besides Qatar, there are also reports of projects in Kuwait and Australia becoming operational in 2010. "Suppliers in Africa, the Middle East and Europe are threatening the dominance of Asia," EI said. According to an estimate by Energy Information Agency of the US, world's natural gas consumption is expected to increase from 105 trillion cubic feet in 2005 to 158 trillion cubic feet in 2030. Another estimate by energy analysis agency Future Energy sets 2.4 per cent as the rate for growth in demand for natural gas in the coming years. The report comes close on the heels of at least two major projects – one in Taiwan (a storage terminal) and the other in Qatar getting delayed. EI said delays in global projects, coupled with soaring demand for gas, are contributing to short-term LNG supply shortages and escalating prices.
Iran seals new Turkmen gas deal
Turkmenistan will export 10 billion cubic metres of gas per year from the Bolutun field to Iran, which in turn will help develop the field, under the terms of a new deal struck by the pair.
The two energy powers, whose ties were strained last winter after Turkmenistan halted gas sales to Iran, agreed to boost co-operation during an official visit by Turkmen leader Kurbanguly Berdymukhamedov to Tehran over the weekend. Under the deal, Iranian companies would develop the Bolutun gas field in Turkmenistan and in exchange gas from the field would be exported to the Islamic Republic, Iran's official IRNA news agency said. "According to this agreement 10 billion cubic metres of gas will be exported to Iran per year from the Bolutun gas field," Iran's Oil Minister Gholamhossein Nozari told the news agency. He told IRNA the two sides had yet to reach a final agreement on the price of the exported gas, giving no details on when the accord would take effect and gas exports start. Iranian radio earlier quoted Berdymukhamedov as saying Turkmenistan wanted Iran to help in developing new gas resources in his country and in building a new gas pipeline. Last winter, Iran suffered natural gas shortages when Turkmenistan halted gas exports of up to 23 MMcmd to the Islamic Republic, citing technical problems.
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Biggest "Made-in-Vietnam" ship to be launched this year
The Dung Quat Ship Building Company is doing its best to complete construction on and launch the biggest ever oil tanker to be made in Vietnam by June of this year.
The tanker, with a capacity of 104,000 tonnes, is in its final phase of construction, and is being completed by about 3,000 workers and engineers. The entire process of building the ship is being done entirely by Vietnamese workers and engineers, with foreign assistance. Dinh Tien Dung, Deputy Director of the Dung Quat Shipbuilding Industrial Zone said that the company had sent its top engineers to learn from the best companies and countries in the field of shipbuilding, such Poland and South Korea. The company has also invested more than VND 4 trillion to upgrade and increase its the infrastructure and to buy modern equipment in order to meet orders received by the company.
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The tanker, with a capacity of 104,000 tonnes, is in its final phase of construction, and is being completed by about 3,000 workers and engineers. The entire process of building the ship is being done entirely by Vietnamese workers and engineers, with foreign assistance. Dinh Tien Dung, Deputy Director of the Dung Quat Shipbuilding Industrial Zone said that the company had sent its top engineers to learn from the best companies and countries in the field of shipbuilding, such Poland and South Korea. The company has also invested more than VND 4 trillion to upgrade and increase its the infrastructure and to buy modern equipment in order to meet orders received by the company.
Singapore introduces new port dues concessions for ocean-going vessels and harbour craft
The Maritime and Port Authority of Singapore has introduced two additional measures to help the shipping industry during the current economic downturn.
The measures take the form of a ten percent port dues concession for all ocean-going vessels with a port stay of not more than ten days, and a 20 percent port dues concession for harbour craft engaged in commercial activities within Singapore port waters. Both measures will take effect from April 1, 2009 for a period of one year. The ten percent concession in port dues to ocean-going vessels will be extended over and above existing port dues concessions already enjoyed by the industry, such as the 20 percent port dues concession for containerships and 20 percent port dues rebate scheme for vehicle carrier operators. This concession will broaden the spectrum of vessels like bulk carriers, tankers and other types of ocean-going vessels benefiting from the financial relief. The 20 percent concession in port dues for harbour craft is targeted at helping the domestic sector. This concession seeks to lower the business costs of port and marine services providers, such as bunker suppliers, ship chandlers, tug boat operators and domestic ferry operators. These additional port dues concessions are expected to benefit many operators whose vessels call at, and operate in the port of Singapore.
Read More
The measures take the form of a ten percent port dues concession for all ocean-going vessels with a port stay of not more than ten days, and a 20 percent port dues concession for harbour craft engaged in commercial activities within Singapore port waters. Both measures will take effect from April 1, 2009 for a period of one year. The ten percent concession in port dues to ocean-going vessels will be extended over and above existing port dues concessions already enjoyed by the industry, such as the 20 percent port dues concession for containerships and 20 percent port dues rebate scheme for vehicle carrier operators. This concession will broaden the spectrum of vessels like bulk carriers, tankers and other types of ocean-going vessels benefiting from the financial relief. The 20 percent concession in port dues for harbour craft is targeted at helping the domestic sector. This concession seeks to lower the business costs of port and marine services providers, such as bunker suppliers, ship chandlers, tug boat operators and domestic ferry operators. These additional port dues concessions are expected to benefit many operators whose vessels call at, and operate in the port of Singapore.
Suspected Pirates Apprehended
The crew of the guided-missile cruiser USS Vella Gulf (CG 72) apprehended seven suspected pirates in the Gulf of Aden after responding to a distress call from a nearby merchant vessel.
The event marks the first time CTF-151 has apprehended suspected pirates. The Marshall Islands-flagged Motor Vessel Polaris sent a distress call to all ships in the area reporting that a small skiff containing seven suspected pirates had attempted a forcible boarding of their vessel using a ladder. Polaris crewmembers removed the ladder before pirates could come aboard. Vella Gulf closed immediately with the M/V Polaris and intercepted a skiff matching the description given by the motor vessel. The skiff contained individuals fitting the physical descriptions given by Polaris crewmembers. A Vella Gulf visit, board, search and seizure team conducted a consensual boarding and found several weapons. M/V Polaris rendezvoused with Vella Gulf and provided positive visual identification of the suspected pirates. The suspected pirates were brought on board Vella Gulf, where they were processed and are being held until they transfer to a temporary holding facility on board the supply ship USNS Lewis and Clark (T-AKE 1).
Read More
The event marks the first time CTF-151 has apprehended suspected pirates. The Marshall Islands-flagged Motor Vessel Polaris sent a distress call to all ships in the area reporting that a small skiff containing seven suspected pirates had attempted a forcible boarding of their vessel using a ladder. Polaris crewmembers removed the ladder before pirates could come aboard. Vella Gulf closed immediately with the M/V Polaris and intercepted a skiff matching the description given by the motor vessel. The skiff contained individuals fitting the physical descriptions given by Polaris crewmembers. A Vella Gulf visit, board, search and seizure team conducted a consensual boarding and found several weapons. M/V Polaris rendezvoused with Vella Gulf and provided positive visual identification of the suspected pirates. The suspected pirates were brought on board Vella Gulf, where they were processed and are being held until they transfer to a temporary holding facility on board the supply ship USNS Lewis and Clark (T-AKE 1).
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