Tagged Global

Moody’s says LNG prices to remain capped beyond 2020

Rate this article By LNG World News Ratings agency Moody’s expects global liquefied natural gas (LNG) prices to remain constrained beyond 2020 as a wave of fresh supply capacity comes online at a time when demand from the world’s largest importers is weakening. Strong LNG demand growth from China, India and new markets would not…

MHI-MME completes retrofit work on 80 LNG tankers

Rate this article By LNG World News Mitsubishi Heavy Industries Marine Machinery & Engine has finalized retrofit work to enable 80 liquefied natural gas (LNG) carriers to sail on low sulfur fuel. The International Maritime Organization (IMO) decided in October 2016 to impose a global 0.50% marine fuel sulfur limit from 2020. In order to…

Venture Global picks GE tech for its Louisiana LNG plants

Rate this article By LNG World News Venture Global LNG picked GE Oil & Gas as a partner to provide technology solutions for its LNG export facilities under development in Louisiana. Under the agreement, GE Oil & Gas will deliver a comprehensive power, pretreatment and LNG liquefaction system, Venture Global said in its statement on…

OPEC could extend or deepen supply cut if oil glut persists: sources

Rate this article By _Offshore_Energy_Today_ By Rania El Gamal RIYADH (Reuters) – OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non-OPEC oil producers, agreed late last…

Wood Group scores global service deal with BP

Rate this article By _Offshore_Energy_Today_ Oil and gas services company Wood Group has been awarded a global agreement with the UK oil major BP for the provision of conceptual engineering services, pre-front-end engineering design (pre-FEED), and FEED engineering services. According to Wood Group, the agreement has a contractual duration of three years with an option…

LNG-bunkering coalition gets three new members

Rate this article By LNG World News The industry coalition SEALNG said three new members, Bureau Veritas, Clean Marine Energy, and Gas Natural Fenosa have joined. SEALNG is aiming to accelerate the widespread adoption of liquefied natural gas as a marine fuel. Peter Keller, SEALNG chairman and executive vice president, Tote said, “We firmly believe…

China’s Sinochem in early talks to buy stake in Noble Group

Rate this article By LNG World News The reception of Noble Group is seen at its headquarters in Hong Kong March 23, 2015. REUTERS/Bobby Yip/File PhotoBy Anshuman Daga and Sumeet Chatterjee SINGAPORE/HONG KONG (Reuters) – China’s state-owned Sinochem is in early talks with Noble Group to buy an equity stake in the embattled trader, three…