LNG Journal JulAug08

p1-22:LNG 3 03/07/2008 11:20 Page 1
52 pages
essential LNG
news!
July/August 2008
In this issue:
Global LNG overview points way
1 Global LNG overview
points way to to changing market fundamentals
changing market Thierry Bros, Paris
fundamentals
Thierry Bros, Paris
With annual output of 213 billion cubic
metres, LNG represents only 8 percent of
total worldwide gas production. LNG is a
12 Flex LNG and Technip fast-growing market, but it must be
develop contrasting underlined that it is changing fast.
offshore LNG units The 9 percent per annum increases
John McKay, LNG Journal Editor
witnessed in the last three years are
not going to be sustainable in the
longer term.
18 Relationships evolve This is because of a number of factors,
for newest LNG including a project moratorium in Qatar,
projects, but risks which is expected to cap LNG production
The market will be dominated by the four leading producers (above) Qatar,
remain the same at 77 million tonnes per annum Malaysia, Indonesia and Algeria. However, Gazprom's natural gas pipeline
Nick Prowse, Norton Rose (104bcm/y) for the foreseeable future. output (below) is still far ahead of all global LNG producers combined
There is also the issue of resource
nationalism, which is gaining momentum
23 A round-up of latest day by day in more and more countries.
events, company and
industry news
News index Cartel risk
In addition, there is the cartelization
risk that could ensure producers never
over-invest and push prices north, and
32 Singapore moves step
the increasing cost of liquefaction
closer to raising
Trains is likely to slow investment
status in LNG market decisions.
David Hayes reports
from Singapore The cost of building LNG Trains has
already risen from $200 million per
million tonnes per annum to up to An overview of their strategy is a very interesting business model. As in
$1.5Bln per MTPA in the last five years. necessary to better grasp how the LNG piped gas, not looking at who the leaders
35 ClassNK offers
In a supply-constrained world, market is likely to function in the years are (Qatar Petroleum, Petronas and
support system
countries are expected to take increasing to come. Sonatrach) leads to big mistakes, as only
for extended life of control over their natural resources. a few will likely lead this global business.
LNG carriers Tomorrow’s LNG leaders will probably Strategies Investors should take note that
Norio Yamamoto, Hirofumi
be either partially state-owned or have Pertamina has always sold its LNG worldwide LNG production is 2.5 times
Takano, Toshiro Koiwa, and Akio
Usami, Nippon Kaiji Kyokai special links with state-owned companies under long-term contracts and is now lower than gas produced by Gazprom
(ClassNK), Japan (through long-term contracts or strategic facing problems with declining which does not yet include LNG,
partnerships). production. although the company plans to move into
Given the supply balance, the piped Qatar Petroleum and its subsidiaries the market by early 2009 when Sakhalin
39 World Carrier Fleet: gas business is likely to be dominated by Qatargas and Rasgas are behind the II starts delivering cargoes.
Russia’s Gazprom for years to come. Not huge growth in the LNG market due to
More new-builds
commissioned to reckon with this (on either a political the increase in production levels of the Gazprom status
or a strategic level) would undermine North Field. Just over a year ago, the shareholders of
our model. The North Field in Qatar and South Sakhalin Energy Investment Co. signed
46 Tables of Liquefaction The same is true in LNG. The market Pars in Iran are both part of the same a sale and purchase agreement with
and LNG Reception is likely to be dominated by national oil field. However, LNG developments in Gazprom to trigger the transfer of shares
terminals worldwide companies like Pertamina (Indonesia), Iran are more dependent on the political in Sakhalin Energy.
Petronas (Malaysia), Qatar Petroleum factor for the time being. The two-Train LNG plant has capacity
and Sonatrach (Algeria). Petronas and Sonatrach have we think of 9.6 MTPA (13bcm/y). With the first
p1-22:LNG 3 03/07/2008 11:20 Page 2
GLOBAL OVERVIEW
journal
The World’s Leading LNG publication
Maritime Content Ltd

213 Marsh Wall
London E14 9FJ
United Kingdom
www.LNGjournal.com
Publisher
Stuart Fryer
Tel: +44 (0) 20 7510 0015 Supply and demand: Liquefaction and regas capacities in 2008 versus actual production (bcm)
Editor LNG coming on stream at the start of overtook Indonesia, in 2006 as the Major listed producers are: Shell, BP,
John McKay 2009, Gazprom is expected to become a number one LNG producer. Total, ExxonMobil, BG Group,
Tel: +44 (0) 20 7510 4942 major LNG producer. Petronas (Malaysia) Malaysia has a ConocoPhillips, ENI, Repsol-YPF,
editor@lngjournal.com Gazprom’s grip on the worldwide market share of 13 percent. In addition Chevron, Woodside and Marathon Oil.
market is therefore likely to become to Malaysia, Petronas also produces LNG A few newcomers produced their first
Advertising Manager increasingly strong. After Sakhalin, the in Egypt and is securing access in LNG in 2007 thanks to the start-up of
Patrick Schweitezer
next LNG project for Gazprom is consuming countries. Petronas is very Snohvit in Norway (StatoilHydro, Gaz de
Tel: +44 (0) 20 7510 4934
Shtokman which we don’t believe will active in the UK with 3.9 percent of France, Hess and RWE).
patrick@lngjournal.com
happen this side of 2013. Centrica’s capital, the recent acquisition
Subscriptions Sales Manager

There are 32 LNG production plants of Star Energy and the opening up of the LNG producer rankings
around the world with an annual Dragon LNG regas terminal. For LNG this is difficult as in most annual
Stephan Venter
capacity of 197 million tonnes (268bcm). Malaysia is now the number two LNG report details of the gas/LNG split are not
Tel: +44 (0) 20 7510 4937
In 2007 they produced 171mt (213bcm). producer. The Bintulu complex with given on a production level, and on the
venter@lngjournal.com
Meanwhile, there are 64 regas plants 30.9bcm/y capacity is currently the sales level, although LNG is mentioned,
Production transforming LNG back into gas with an world’s largest LNG production facility at the figures include spot reselling.
Vivian Chee annual capacity of 431mt (588bcm). The a single location. Also, companies like Suez or Union
Tel: +44 (0) 20 8995 5540 load factor of liquefaction plant is on In 2007, Petronas’ sales volumes Fenosa do not have exploration and
chee@btconnect.com average 87 percent compared with only increased by 2.1 percent from 23.6mt production businesses and do not produce
41 percent for a regas plant. (31.9bcm) in 2006 to 24.1mt (32.5bcm) on any gas but they own stakes in LNG
In a world where everyone is the back of higher volumes at the group’s liquefaction Trains.
apparently turning to gas as a short-term Egyptian LNG (ELNG) plant (1.8mt in As in these three cases the companies
Subscription solution to long- term problems (oil 2007 vs 1.0mt in 2006) have no access to the resources, and they
6 Months (5 issues) £234/US$468 “shortages”, climate change), LNG demand Petronas has been active on the spot have no access to the LNG produced by
exceeds the level suppliers can deliver. market since 2005 through Asean LND those plants.
1 Year (10 issues) £390/US$780
Trading Co. (Altco). To complicate the picture even further,
2 Years (20 issues) £664/US$1329 Liquefaction Pertamina. Indonesia has a market nearly all LNG plants have long-term
See inlay for more details The major players are state-owned share of 12 percent. Indonesia’s market take-or-pay contracts for a substantial
subs@lngjournal.com companies. As most of these companies share is falling due to the steep decline in percentage of the total production. So the
hotline +44 (0)20 7510 4934 disclose little information, we have gas production which has prevented company producing the LNG may not be
ranked them according to the market liquefaction Trains from running at full the one that will sell it into the market.
share of their respective country. speed since 2006. Given the complexity of the LNG
No part of this publication may be
Altogether, four states controlled 52.5 Formerly the leading producer, market and its small scale compared to
reproduced or stored in any form by any
percent of the LNG produced in 2007. Indonesia slipped into second position in the overall gas business, we find that
mechanical, electronic, photocopying,
Qatar Petroleum, through its 2006 and is now third. Between 2004 quoted companies are covered by
recording or other means without the
prior written consent of the publisher. subsidiaries Rasgas and Qatargas. Qatar and 2007, Indonesian LNG production analysts either on the utilities side or on
Whilst the information and articles in Petroleum was created in 1974 and co- declined from 31.1bcm to 25.5bcm (-18 the oil and gas side.
LNG journal are published in good faith invested with International Oil percent). We have concentrated on gas players
and every effort is made to check Companies (ConocoPhillips, ExxonMobil, Sonatrach. Algeria has a market share in an endeavour to provide an in-depth
accuracy, readers should verify facts and Occidental Petroleum, Shell, Total and of 11 percent. Since the Skikda blast, in view of companies operating in this high-
statements direct with official sources some Japanese and Korean utilities) to January 2004, Algerian LNG exports return niche.
before acting on them as the publisher
mitigate the technological and financial have remained at a reduced level. Liquefaction plants can be owned by
can accept no responsibility in this
risks of LNG projects. The reconstruction by KBR of the US companies that generate revenues from
respect. Any opinions expressed in this
magazine should not be construed as Qatar has a market share of 17 of Skikda is scheduled to finish at the end the amount of LNG produced regardless
those of the publisher. percent of worldwide LNG. Qatar of 2011 at the earliest. of market conditions (tolling principle) or
2 • LNG journal • The World’s Leading LNG journal

p1-22:LNG 3 03/07/2008 11:20 Page 3
Complex, remote LNG project.

Community & environment to sustain.
Reputations & revenues to consider.
One looming deadline to meet.
Got a plan? We do.
For more information, email lng@kbr.com or visit www.kbr.com/lng.

Interested in being part of our plan? If so, visit www.kbr.com/careers.
KO8036 © 2008, KBR Inc., All Rights Reserved
p1-22:LNG 3 03/07/2008 11:20 Page 4
GLOBAL OVERVIEW
Sakhalin, the next LNG project for In a supply-constrained world,

Gazprom is Shtokman which we don’t countries are expected to take increasing
believe will happen this side of 2013, but control over their natural resources.
will nonetheless be a world-class project. Tomorrow’s LNG leaders will probably be
either partially state-owned or have
Energy nationalism special links with state-owned companies
“We are a country not an oil company” (through long-term contracts or strategic
said Qatari Oil Minister Abdullah al- partnerships).
Attiyah, explaining that Qatar had to
make sure it would have enough gas for What can companies do in
future generations. We believe this medium term?
LNG production for listed companies producing more than 1 bcm per annum comment sums up the position of most In an environment characterised by
producing countries. limited supply and limited competition
by companies that then sell the LNG valuation, the LNG business represents Domestic politics will determine the on the supply side, companies will have
(merchant plant). only a marginal part of their overall priority given to domestic markets to find ways to grow their LNG
valuation. despite the clear economic benefits of businesses after 2010.
State-owned strategies BG Group is a major gas player as 71 increased exports Cargo Swaps: When two producers are
The moratorium in Qatar will probably percent of its hydrocarbon production is Most oil and gas analysts divide the called on to deliver cargoes to two
push Qatar Petroleum to review its gas. It is a focused gas and LNG producer world into OECD countries, where different customers who are far away
strategy. We think that the opening of and an LNG arbitrageur. It should companies can invest freely and non- from the nominated producer, they can
South Hook LNG regas terminal in the witness a production CAGR of 5 percent OECD countries where rules are set to swap their cargoes to reduce travel times
UK this autumn (Qatar Petroleum (67.5 between 2005 and 2012. refrain or block international oil and expenses.
percent), ExxonMobil (24.15 percent) and BG has developed a leading position in companies from investing. However, as cargo sizes are not
Total (8.35 percent) is a sign that Qatar Atlantic Basin LNG and is trying to Any state has, under the UN charter, standard, each swap requires an
Petroleum wants direct access to develop itself in the Asia Pacific market. permanent sovereignty over its natural agreement from the final customer who
consuming countries and will try, in the The company has been selected by the resources. We often mention the Norwegian won’t receive the exact quantity.
years to come, to have an increased role Energy Market Authority of Singapore to case where the state takes into account a These deals are difficult to implement
in the spot market. supply up to 3 MTPA of LNG to the long-term view to deciding or whether or on a long-term basis as they involve more
Petronas has a good knowledge of Singaporean market for up to 20 years not to authorise new investment. than two parties and the risks are
arbitrage and plans to expand further from 2012 and will also provide 1 MTPA Australia is also a country with multiple.
thanks to the opening of the Dragon LNG of LNG to Hong Kong for 20 years abundant resources: its R/P ratio is 63 It is therefore done seldom on a spot
regas plant in the UK. In terms of starting in 2013. years vs 14 years for OECD countries basis. Swaps in cargoes increase margins
production, Petronas is already Woodside is four times smaller than showing that investment could be made of both suppliers by reducing transit
producing outside Malaysia (in Egypt). BG. It should also try to find ways to here to alleviate the tightness of the time. This sort of system could be
Petronas is now trying to enter expand outside Australia to become more global market. implemented on a more regular basis.
the Australian market as a future visible in the LNG business unless Shell But Western Australia insists that 15
LNG producer. succeeds with a takeover which has been percent of gas in fields being developed Will M&As change LNG
Facing decline in gas production and rejected in the past. for LNG exports must be reserved for the landscape?
booming domestic demand, Pertamina After the merger Gaz de France, Suez domestic market. Gas-producing companies are likely to
is likely to continue to lose market share will also have a portfolio of long-term This, in a way, is like a windfall tax or have limited options in the future: they
in LNG. contracts and regas capacity in Europe a regulated tariff. Companies investing in are either likely to have to invest heavily
Sonatrach has access to US and UK and North America. huge gas development projects know that or undertake new mergers and
regas facilities and is the most active they can only sell 85 percent on the acquisitions.
state-owned company on the spot market. Few newcomers in worldwide market even if, in Australia, State-owned companies could have an
Extra volumes after the reconstruction of production customers pay a commercial price for gas. advantage in accessing resources and in
Skikda will likely help Sonatrach The last newcomer was Union Fenosa The world can therefore not be divided the coming years the picture could be
increase its market share after 2012. who, in 2000, signed a contract in Egypt in two zones – each country has its own materially different.
and owns 80 percent of the Damietta I set of rules. In our view, M&A activity will
Strategies of listed plant, operational since 2005.
companies This was signed at a time of low oil
BP, Shell and Total are international oil and gas prices. In today’s world where
companies and are very active on the spot producers are getting richer every day
LNG market. they can select their partner.
ExxonMobil is increasing its LNG This is why we think that there is very
footprint with its presence in Qatar. All little chance of seeing a newcomer without
international oil majors view gas and LNG technological or trading expertise.
in particular as one of the areas where We have also discounted the possible
they can expand in the years to come. arrival of Centrica of the UK in this
With oil production levels increasingly market. The LNG business should
under pressure, plentiful gas reserves consolidate in the years to come in the
could help the international oil hands of national oil companies and
companies continue to develop their technologically-driven listed companies.
hydrocarbon production. In terms of Gazprom is the exception. After Three newcomers on the LNG regas side now account for 7.4 percent of market

p1-22:LNG 3 03/07/2008 11:20 Page 5
Unique solutions
for industrial processes
Industrial processes come with a multitude Founded in 1962, Temati began by manufacturing, promoting and selling Foster® products in
of challenges, which require reliable and the Benelux. Nowadays Temati is Europe’s sole licensed manufacturer and supplier of Foster®
innovative products. At Temati, we have and Childers® products, with now five office- and warehouse-locations in different countries
decades of experience and expertise. We are and an international distributors- network. Today we sell an extensive range of specialized
your ideal partner when seeking solutions materials to customers throughout Europe, as well as overseas. As we continue to expand our
that make a real difference. services, you can continue to rely on us for a wide range of products and the best solutions.
Temati B.V. Tel: (+31) (0)251 229 172 Fax: (+31) (0)251 212 380 E-mail: temati@temati.com www.temati.com
p1-22:LNG 3 03/07/2008 11:20 Page 6
GLOBAL OVERVIEW
continue to structure the market and Outside the correlation band, the gas This allows traders to arbitrage to take gas should price at least as much as
should provide huge investment price was fixed. This means producers advantage of volatile wholesale prices oil (if not more to take into account the
opportunities even if it is difficult to should still receive a minimum amount of around the planet. fact that it is a greener fuel, emitting
anticipate each move. cash if oil prices go down and buyers to Arbitrage deals were previously less CO2).
The BG offer made for the Australian cap their bill if the oil price goes up. infrequent and most of the time the extra This is why we are particularly bullish
energy provider Origin, which has now In the 2000s the ceiling was around value was split by both parties. for gas prices in the years to come. If
become a hostile takeover bid, is the kind $25/bbl. Since then oil prices have grown At the turn of the millennium, some as our commodity team believes, oil
of move we think we will see more exponentially and producers try asoften as companies started to implement a more prices are to stay high, then gas prices
frequently in the months to come. possible to renegotiate contracts to benefit lucrative business model by redirecting should follow, possibly even closing the
It could also be possible for two LNG from the oil increase. Union Fenosa, for more and more cargoes. current gap.
players (one covering the Atlantic basin example had to sign, in December 2007, a With over 250 ships able to carry LNG,
and the other the Asia Pacific market) to new formula with an undisclosed new cap Many price mechanisms there are vessels with capacity from
strike a deal to become the leading global vs a former cap at $24/b. This has proved very popular and many 18,800 cubic metres capacity to 216,000
LNG player. Qatar seems now to favour new regas plants are now being built cubic metres, with an average size of
contracts with no floors or ceilings to be reflecting the lead times it takes in this 130,000cm capacity.
Arbitrage: is LNG able to benefit from higher gas prices as industry. The biggest ships under construction
changing? it discounts the risk of seeing gas prices On the flipside, liquefaction capacity today are Q-Max (for Qatar) with a
Since the beginning in 1963, long-term going south. has also continued to expand but at a 265,000cm capacity. In 2007, total
contracts have been the backbone of this When current long-term contracts slower pace and market consensus now shipping capacity grew by 20 percent vs
industry. The entire chain was built at expire they are likely to be replaced by values any arbitrage at the same level. 2006 when liquefaction capacity only
the same time: a liquefaction plant in the contracts that have a stronger linear Gas is mostly traded in the UK and grew by 4 percent.
producing country, ships in yards and a correlation with oil prices. the US. In the UK it is a gas-to-gas
regasification plant in the consuming It is expected that new contracts will competition. In the US, it is a gas-to-oil Arbitrage costs
country. get to about $17/MBtu for $100/bbl crude products competition. $0.80 MMBtu
Each contract is specific. But the oil. As more buyers chase fewer supplies, This means the gas price moves When carried on ships, LNG tends to
general price formula was based on an S- the market is expected to stay extremely mainly between fuel oil and distillate revaporize (or boil off). The boil-off is
curve where, between a floor and a tight for the foreseeable future. prices. In continental Europe and Japan currently used to propel the ship: with
ceiling, gas prices were correlated (on a In the face of escalating production it is priced under an oil-linked formula modern technology it can make up to 90
fuel switching basis) to oil and oil costs, shipping costs have decreased with with a 3-9 month delay. percent of the energy needed for the
products. the arrival of huge new LNG carriers. We reckon that on an energy basis, propulsion.
Boil-off can also be re-liquefied on
board to limit losses, which is the case for
both the Q-Flex and Q-Max.
In our example we assumed the boil-off
was used as the propulsion fuel. The cost
of LNG used to price the boil-off is
between $2/MMBtu (cost of LNG in the
case of a national oil producer) and
$4/MMBtu (price of LNG sold at the exit of
the liquefaction plant).
We used an average of $3/MMBtu.
Note that falling chartering rates (due to
excess capacity) could offset some of the
upward pressure (that feeds through the
cost of boil off).
The shipping time doesn't take into
account the loading and unloading of the
ship. Each operation takes 36 hours on
average, except for ships with onboard
regas where it can take up to a week.
The basic calculation above shows that
diverting a 140,000cm capacity carrier
will cost $0.73/MMBtu.
On the same basis, Trinidad & Tobago
LNG redirected away from the US to
Japan will take 29 days and cost
$1.01/MMBtu.
As LNG freight is very volatile and
arbitrage opportunities numerous, it is
fair to take $0.80/MMBtu for an average
cost of arbitrage.
Arbitrage in action: The basic calculation shown above demonstrates that diverting a 140,000 cubic metres capacity On top of this, the price of going
LNG carrier will cost $0.73/MMBtu. We are assuming the boil-off was used as the propulsion fuel through the Suez Canal has to be added

p1-22:LNG 3 03/07/2008 11:20 Page 7
GLOBAL OVERVIEW
when the ship takes this route. A return Spot trading accounted for 20 percent percent of the LNG is not committed with the hope of making lucrative
trip costs is around.$600,000 (60 percent of LNG sales in 2007 vs 16 percent in under long-term contracts. arbitrage deals, viewing storage as a low-
when the ship is loaded and 40 percent 2006. This number should continue to Companies found it more attractive to return asset.
when empty) or $0.23/MMBtu. grow as in most new projects about 40 invest in LNG regasification terminals With fierce local opposition, storage
The extra cost of a
tanker arbitrage is around
$1.7M. Traders in this 5 , 4 ) - ! 4 % ¬ + . / 7 , % $ ' % ¬ ¬ , % ! $ ) . ' ¬ 3 / , 5 4 ) / . 3
market are prepared to
take an arbitrage risk if the
rewards are substantial
We think that arbitrage
is not taking place if the net
reward is less than $1M, i.e.
the price differential has to
be above $1.1 $/MMBtu
($0.7/MMBtu for the cost of
arbitrage and $0.4/MMBtu
for the minimum reward).
Company LNG
3)4%¬3!&%49
342!4)&)#!4)/.¬-!.!'%-%.4¬!.$
arbitrage
earnings
What the market likes is
2/,, /6%2¬02%6%.4)/.
arbitrage where the price
differential can be up to
$10/MMBtu and where the
4O¬%3$
gain could amount to more
than $25M.
But this is not the
average gain and only large
companies with a trading
3IGNAL
desk can hope to achieve CONVERTER
this during severe
disruption.
We would then estimate
that average arbitrage costs 4O¬$#3
work out at the same level
as the net reward
(around.$1.7M). The price
differential is then around
$1.5/MMBtu.
The spot LNG market
is facing demands
from new plants seeking
commissioning cargoes.
At least five new 2EDUNDANT¬0#¬BASED
terminals are looking for CONTROL¬PLATFORMS
cargoes. And more buyers
are chasing reduced 4O¬REGAS¬PLANT
supplies. Norway's Snohvit
and Malaysia's Bintulu
LNG complex, a long-term
supplier to many Asian
buyers, have had technical ,.'¬3AMPLING¬3YSTEM
problems since early this
year.
And Spain, which
diverted some LNG
shipments to Asia earlier
7HESSOE¬0ROCESS¬#ONTROL¬4ECHNOLOGY¬
WWWWHESSOE PCTCOM
this year, is now facing a
IS¬A¬QUALITY¬DIVISION¬OF¬7ËRTSILË
reduction in hydro-
generation and competing
with Asia.
4/4!,¬,.'¬4!.+¬).3425-%.4!4)/.¬3/,54)/.3
LNG journal • July/August 2008 • 7

p1-22:LNG 3 03/07/2008 11:20 Page 8
GLOBAL OVERVIEW
was left on the back in the first quarter of 2009. (Sonatrach and BP) didn’t deliver enough the second half of 2008.
burner in If anything is to be tankers to cover the cost of renting. The “Golar Spirit” is currently
Europe gained from a However, given that they had the undergoing conversion into a floating
and depressed molecules they took the risk of renting regasification-storage terminal. This is
this
How should regas market it is
shipping the Isle of Grain on a long-term
basis to be able to extract more value
expected to be the first of three floating
regas terminals that Petrobras is looking
capacity be valued? We that lower from their resources and to link gas to position along the coast in the next
freight prices by pushing up prices on a two years.
think a company with no rates in worldwide basis. The second floating regas terminal is
LNG (either through the

past, to
The Phases 2 and 3 expansions at the
Isle of Grain will be another story as
expected to be installed in early 2009
using the “Golar Winter”.
production or a long-term an
extent,
Centrica, E.ON and Iberdrola of Spain,
will find themselves renting a terminal
There is currently a Petrobras tender
for the third tanker which will be
take or pay contract) is have with little option to use it. required to undergo the needed
The only rational explanation is that conversions.
going to face tremendous stimulated these companies secured the capacity so The new LNG terminals in Brazil are
pressure in the next few trade by that they can provide gas in case of a
severe disruption.
primarily being added to improve the
overall diversity of supply and help
should years. promoting

tanker routes that
We think this is a very expensive way
to insure against a very unlikely event.
support Brazil’s gas-fired power plants.
They are likely to be useful because
now create typically wouldn’t have Indeed it seems unlikely that there would roughly 80 percent of all of Brazil’s
opportunities to been viable in a more be any spot LNG available if the electric supply is generated from
invest in storage. expensive freight market as well as disruption was that huge, so the hydro-power.
The price for spot cargoes attracting new players into the LNG insurance probably wouldn’t work. It Hydro-power can be susceptible to
has historically been between trading arena. would have made more sense and been interruptions as it relies on the weather,
$30,000/day and This could help national oil companies less expensive to mutualise the risk. whereas LNG will provide a reliable flow
$110,000/day. Some vessels with little shipping capacity to tighten These two bubbles are expected to during the dry season (May to October).
have been found in 2008 to their grip on this part of the LNG chain drive the price of shipping and Brazil will have a distinct advantage over
have leaks, but so far this has at a low cost. regasification down to record low levels. most LNG importers.
had no material impact on day rates in Companies that entered this business By virtue of its location south of the
an oversupplied shipping market. Too much regas capacity on a speculative basis at the beginning of Equator, its prime purchasing season will
Ships have been built for speculative Although rental charges between the the millennium will probably face a hard be during the rest of the world’s summer
purposes and we are seeing the freight UK’s National Grid and its customers are time in the years to come. season when LNG is generally more
rate decline. The diminishing arbitrage to confidential, looking at National Grid How should regas capacity be valued? plentiful and less expensive.
the Far East combined with the delivery revenues, we are able to ascertain that We think a company with no LNG (either Petrobras signed agreements with BG
of several newbuilds in recently has annual rents so far paid amount to through production or a long-term take or Group, in June 2008, to secure LNG
resulted in an influx of open tankers and £12M/Mt capacity (or £8.9m/bcm). pay contract) is going to face tremendous supply.
a serious dip in charter rates. We note that if the Isle of Grain pressure in the next few years. This shows that Petrobras (which is
terminal, located about 45 miles How should the UK Teesside regas also a producing company) is not willing
Two bubbles in southeast of London, was fully used, the capacity that never worked be valued? to develop regas capacity without
LNG business charges taken by National Grid should We think this investment (around £40m) securing the LNG.
In April a handful of charters were equal 2.5pence/th or $0.5/MMBtu. can be viewed as sunk costs.
concluded in the low $40,000s. There are To deliver 1Mt of LNG, 16 of our In the face of all this unused available UK may face higher prices
some 22 tankers idle and with the standard ships must berth (1.3 per supply, regas capacity is going to be The UK could have 54.5bcm/year of LNG
summer season (which typically results month). viewed by the market as a cheap import capacity by 2012. That would be
in lower freight rates as a result of To cover the cost of renting 1 Mt/y, a commodity. enough to meet around half of the
shorter voyages) now on us, combined company must be able to make £12M. It is available in large quantities and country's annual gas demand, which is
with the scheduled delivery of 43 more This can either be viewed as a necessary the more that is built, the more the somewhere around 90bcm/year.
new tankers before the end of the third cost for a company with secure supply service price is going to go down. The figure could be even higher if
quarter, rates should continue to fall. (producers or companies with long-term Having regas capacity is therefore some of the projects now at a less
It is difficult to say how far rates will contracts) or a speculative margin for a only going to be useful if you can berth a developed stage make good progress,
sink but some sector experts are company wanting to play LNG arbitrage. cargo with some LNG. Regas alone is perhaps over 100bcm/year of LNG import
suggesting below $30,000 per day by mid- For the latter option to be successful likely to be a liability. capacity just after 2012.
summer. the investor needs either one very Faced with all this unused regas At the start of 2008 UK LNG import
If market conditions are conducive, a successful arbitrage or 16 arbitrages with capacity, market power is likely to shift capacity was 8.4bcm/year. Anytime soon
“floating storage play” (where traders a $1.5M gain each. further into the hands of producers. the 6bcm/year Dragon LNG and the
purchase volumes in a steep contango The rental cost is also equivalent to 14 10.5bcm/year South Hook LNG
market and “park” the ships in cold water average arbitrages as explained above Newcomer Brazil terminals will have started up in Wales.
for several months in order to capture a with a $1.7M gain each. To date 18 countries (including Argentina And Grain LNG should have added an
stronger forward market) like the one Prices have not spiked to record levels with its dockside facility provided by extra 8.6bcm/year of capacity in a second
experienced in 2006 could pull the freight in the UK since the opening of the regas Excelerate) have LNG regas capacity. phase of development. So by 2009 the
market out of the seemingly irreversible terminal, on an arbitrage basis, the two Brazil will be the 19th with the first total import capacity should be
2008 spiral until new supply catches up companies renting Isle of Grain LNG import scheduled to take place in 33.5bcm/year.

p1-22:LNG 3 03/07/2008 11:20 Page 9
GLOBAL OVERVIEW
South Hook should add a further It should mean that LNG producers In a supply constrained world, a supply continental Europe where it
10.5bcm/year in a second phase in 2010. and aggregators will be able to customer without a long-term contract is has signed internationally binding
Grain then adds a third phase of maximise their profits by always not a priority for a producer. agreements, than the UK.
7bcm/year in 2011. All these benefiting from spikes. For Norway, it is more important to We are now entering a situation where
developments have
planning permission.
Other projects could add
up to 56bcm/year some time
after 2012. The question is
just how much spare
upstream gas there is for all
of these terminals.
Grain has been largely
unused during 2008. And
Teesside Gasport has never
received a full cargo of
LNG at all.
The same thing is
happening in the US where
the newly opened regas
terminals are going to stay
idle for a while.
In China, the final
approval for a regas
terminal is granted by the
National Development and
Reform Committee only
once a source of supply is
in place.
Dalian terminal won
final approval, in January
2008, and is due to start
in 2012 with volumes
coming from diversion
from Trains that were
initially to supply the
Atlantic Basin markets. Which heat exchanger do you need-
Unused regas
proves costly
3ODWHļQRUFRLOZRXQG"
Given that liquefaction
capacity is equal to less Whatever your heat exchanger requirements,
than half of all regas Linde is the only manufacturer equipped to align,
capacity worldwide, we design and produce both types to meet them.
believe regas is in huge
oversupply. For you, this means: you don´t just get the solution we have,
Therefore the price for but rather the one that you need.
this service should go down.
In our view unused Are you interested in a documentary movie about the
abundant regas capacity is manufacturing of process plant equipment ?
worthless. To order a free DVD, please visit our website:
Regas terminals are of www.linde-plantcomponents.com/orderdvd.php
great value if they are fully
used. If too many regas
terminals are competing for
Designing Processes – Constructing Plants.
too little LNG than the
value of each regas Linde AG
terminal is reduced. Linde Engineering Division,
This situation signals to Carl-von-Linde-Strasse 15, 83342 Tacherting, Germany
producers that demand will Phone +49.8621.85-6434, Fax +49.8621.85-6622,
continue to face pressures E-Mail: plantcomponents@linde-le.com
from supply for years to
come.

p1-22:LNG 3 03/07/2008 11:20 Page 10
GLOBAL OVERVIEW
a severe disruption (nuclear outages, a record level in March 2008. Both Russia and Indonesia could In a global market, a customer with
droughts, hurricanes, etc.) would be likely China’s growing presence on the LNG expand their production, at Sakhalin and LNG and pipe import facilities could, in
to send consumers in a mad scramble for scene is likely to attract more and more Tangguh respectively, but both are trying theory, arbitrage between the cheaper.
the last available LNG carrier. attention as did Chinese oil buying in to keep gas for domestic use. In a tight market, the customer tends
LNG prices would spike as a result 2004, when demand jumped by 17 Another giant potential producer of to take what is available even at the
and the companies with the supply and percent on an annual basis. the future is Iran, but there are many highest price. The piped gas supplier
trading expertise just have to hold on to China’s price tolerance is still below uncertainties surrounding its possible could be tempted, in the future, to align
enjoy the huge benefits that should pour that of Japanese customers, despite the production of LNG. its marginal price not to the regional
in from time to time. impending start of the second Chinese New West African supplies are price but to the global, higher price.
LNG terminal after Guangdong, located likely to be very important to the global A very good example is Turkey, which
Where is LNG in Fujian province. balance too. has its Iranian gas supply cut off each
flowing now? The Fujian terminal (3.5 bcm/year In some countries, like Equatorial year. To mitigate this, Turkey can ask for
LNG is not flowing towards the US. Due capacity) bought a spot April cargo of Guinea, there are difficulties bringing extra Russian gas via the TransBalkan
to market forces there has been very little Egyptian origin from BG, apparently at feed gas from far away. and Blue Stream pipelines or overbid the
activity in the US. market levels, but that does not reflect In Nigeria, there is no shortage of feed most expensive LNG tanker for berthing
A first LNG cargo (3 Bcf) supplied the the long-term purchasing power of Fujian gas, but there is a big problem with at Botas’s Eregli terminal on the sea of
Sabine Pass terminal on April 12, and on as this cargo was bought for infrastructure funding. Marmara or at Egegaz terminal on
April 16, Freeport LNG received its first commissioning the terminal. Turkey’s Aegean cost. The estimated
delivery. Chinese imports are driven by strong LNG may drive prices, last winter were:
Sabine Pass has a sendout capacity of economic growth and power demand piped gas higher Around $320/1,000m3 for the Russian
2Bcf/d (10bcm/y), but this is unlikely to and these are expected to increase over Even Asia or Turkey are prepared to pay piped gas (around $9/MBtu);
be filled as no other cargoes are expected the years. crude parity, which at $100/barrel Around $18/MBtu for the spot cargos.
in these new terminals as Asian and In 2007, China’s LNG imports jumped equates to $17/MBtu, or almost twice It seems strange in an increasingly
Spanish prices are higher than US prices by 299 percent vs 2006 and overtook 2008’s forward-month average price at globalised world to have two hugely
in the short term. Portugal, Belgium, Mexico, Italy and the the Henry Hub. different prices on a regional level.
Although it is not known how many UK in a single year. By constructing too many regas If a zone with a regas terminal is short
cargoes will be delivered to Brazil this With the extension of Guangdong (+ terminals (most of them not backed by of gas it should be prepared to pay the
year, regardless of where the volumes are 3.4bcm/year) and the opening of Fujian, long-term contracts for LNG supply) in highest global price for LNG as well as
sourced they will almost certainly work a total of 10bcm, China’s import figures consuming countries we see risks of a for extra piped gas.
against US imports this summer. should be close to those of Taiwan and global fight for the marginal cargo. Gazprom is, we suppose, better at
Petrobras will be in a good position to India LNG by 2009. Every country with a regas terminal is understanding this, and could ask for
secure spot volumes from most Atlantic showing readiness to embark on a global higher prices, next winter, in case of
basin supply sources, though especially Demand to remain strong race for the most expensive marginal shortage.
Trinidad & Tobago where the voyage Much has been made of delays to molecule. Hence the Polish government’s idea of
time to Brazil’s facility is virtually the upstream LNG projects owing to In this tight environment it shouldn’t building an LNG regas plant to avoid
same as Trinidad to most US terminals. escalating costs, but when host nations take long for the main exporters of piped overdependence on Russian gas is only
This means that there will be times create further regulatory uncertainty, gas realise that they can also benefit likely to result in Poland paying higher
that Trinidad capacity holders will be that only adds to the risk. from higher prices. prices...for Russian piped gas.
able to send their vessels to Brazil Countries such as Australia, trying
without taking the ships out of the to maximize the use of home-grown
regular US rotation. skills and labour and to limit the 2007, he was a senior oil & gas
expert at the French Department
number of LNG hubs, as well as
of Trade and Industry where he
Asia and Turkey earmarking 15 percent of the produced
represented France on oil markets
High Asian prices have attracted LNG gas for domestic use, could cause
and emergency questions at the
during winter 07/08, partly because of projects to move further back in time. International Energy Agency
increased Japanese demand on the back LNG production declined in Egypt in (Paris), the European Commission
of long-term outages at nuclear power 2007 by 4.7 percent vs 2006, partly due to and the Energy Charter (Brussels).
stations. LNG imports in Japan reached growing domestic demand. As a gas specialist, he reviewed
the regulations governing the
opening up and liberalization of
the French gas market and
supervised the Contingency Gas
Plan. From 1996 to 2001, he was
Head of Internal Communication at
the IFP (French Institute of
Petroleum). He holds a PhD in
Management of R&D from Ecole
Centrale de Paris, a Master of
Chemical Engineering from Ecole
de Physique et Chimie
Thierry Bros is based in Paris and
Industrielles of Paris and a
joined Société Générale Cross
Master's Degree in Economics
Asset Research in September
from Paris Panthéon-Sorbonne
2007. Previously, from 2002 to
University.

p1-22:LNG 3 03/07/2008 11:21 Page 11
The best human team and a fully in-house

integrated process enable us to offer
top design and manufacturing
of cryogenic valves.
TOTAL RELIABILITY
IN THE MOST SEVERE CONDITIONS
Poyam Valves is one of the world's leading manufacturers of cryogenic ball, Our own quality renowed foundry AMPO and long experience in cryogenic
gate, globe and check valves. Cryogenic service valve's main aplications are valves (since 1979), enables Poyam Valves to design and manufacture high
focussed in the complete LNG chain: technology valves with the best performance and low maintenance cost.
1.Offshore/Onshore well (gas reserves).
2.LNG Liquefaction Terminals, both Offshore and Onshore. Through our Field Engineering Service (FES) team we provide timely
3.LNG Loading Arms. response to customer needs worldwide: witness and technical support in
4.LNGC/LPGC (Cargo valves & LNG Reliquefaction Plant valves). commissioning & start up stage, maintenance shut down supervision,
5.LNG Unloading Arms. troubleshooting and repair service, equipment selection, maintenance
6. LNG Receiving (Regasification) Terminals. and operation training...
p1-22:LNG 3 03/07/2008 11:21 Page 12
OFFSHORE PRODUCTION
Flex LNG and Technip develop

contrasting offshore LNG units
John McKay, LNG Journal Editor
Floating LNG production units being

developed by oil majors, LNG
engineering firms and major
shipyards will seek production
capabilities from 1 million tonnes per
annum up to the scale of the largest
land-based LNG Trains.
Projects under development will
significantly boost LNG production from
2015 onwards once the initial facilities
successfully enter operations.
The ventures range in scale from Flex
LNG’s planned production ship to a
Floating ‘LNG Producer’planned by Flex LNG. The hulls are on order from Samsung Heavy Industries in South Korea
traditional adapted heavy platform as
proposed by French engineering firm
Technip, joint builder of the world’s drawing board for years. It was Production Platform for LNG called structure envisages having flexible LNG
largest LNG Trains in Qatar. considered in the Persian Gulf as early as TPG 500 HPP. supply from 2011onwards - 1.5 million
In between the large and smaller scale the 1970s, but now it’s off the drawing Flex, whose shareholders include tonnes of LNG per annum with the first
are projects being developed by board and in the boardroom and platform banks such as Switzerland’s UBS, commercial LNG cargo planned for the
companies such as Royal Dutch Shell, and ship production yards. Deutsche Bank and US brokerage second half of that year.
which is planning a 3.5 MTPA LNG Most offshore LNG projects will use Morgan Stanley, now counts Japanese Flex has also signed a heads of
facility. subsea well completions to eliminate shipping giant Kawasaki Kisen Kaisha agreement to secure feed gas and develop
The cost of an FLNG Floating costly production platforms, large (K-Line) as a stakeholder as it pursues a floating liquefaction project offshore
Production Storage and Offloading transmission pipelines, and site the development of its offshore LNG Papua New Guinea together with local
(FPSO) system is estimated at more than preparation or harbor dredging for a production vessels. player Rift Oil.
$2 billion, three times the cost of a land-based LNG plant. The company, registered in the British The first LNG from the Rift Oil
standard FPSO, but about half the cost of Virgin Islands and with corporate offices partnership is being targeted for the first
a one-Train onshore baseload facility. Greater loads in the UK, has signed four ship building half of 2012.
Over the past year, companies have Other offshore floating LNG contracts with Samsung Heavy
been teaming up to develop floating LNG developments may consist of a moon-pool Industries for the “LNG Producer” hulls Strategic move
production facilities amid a resurgence in layout using the single mixed refrigerant utilizing the SPB LNG containment K-Line, the LNG carrier fleet operator,
research in the commercial and process. system. for its part has become a strategic
technological arenas to apply existing Offshore LNG plants will have to The vessels will use nitrogen investor in Flex, having agreed to take its
applications and develop new technology withstand greater wind loads, pitch and expander liquefaction cycle technology, large chunk of the private placement of
for the offshore LNG plants. heave motion and need less height and which enables them to source stranded ordinary shares announced last month by
weight equipment. gas from several fields during a the offshore LNG developer.
Investors keen Aero-derivative gas turbines are one- contracted period. As part of the K-Line strategic
Investment banks and investors have third the weight and one-quarter of the investment, the two companies have
been quick to latch on to what’s regarded footprint area of comparable frame-sized Deal time entered into a memorandum of
as the next big thing in the hydrocarbon turbines and they are expected to be In addition to a private placement of its understanding following the election of
industry that will tap into abundant favored in offshore application, according shares that brought K-Line in with a 15 K-Line as a preferred partner to provide
worldwide pockets of stranded gas and to analysts. percent stake, Flex has also concluded LNG and offshore related transportation
smaller conventional fields and produce A measure of the activity in the two separate deals over the past two services.
LNG for export. industry surrounding floating LNG months as it aims to make its “LNG Furthermore it is the intention of the
Such LNG production vessels will production can be gauged by looking at Producer” ships a reality. parties to utilize K-Line's extensive
consist either of a moored floating hull Flex LNG, founded in 2006 in Norway for Flex, Japan’s Mitsubishi Corp. and relations in the Asia-Pacific region to
with integral storage tanks and a topside the development of floating LNG Peak Petroleum, which has Nigerian jointly market and promote Flex’s
liquefaction plant, or a more conventional production. interests, signed a heads of agreement to production vessels, targeting LNG
adapted vessel or traditional heavy Flex’s “LNG Producer” has attracted jointly develop and market the floating suppliers and off-takers.
platform. much attention the past two months, liquefaction project. “This whole progress affords K-Line
Floating offshore LNG production can while at the recent Offshore Technology Mitsubishi intends to become an an opportunity to expand its business
eliminate gas flaring or re-injection Conference in Houston, Texas, Technip equity participant in the LNG Producer, upstream, taking advantage of the
associated with crude oil production if gave a presentation on its “Mega as well as having an integrated role in expertise and know-how accumulated
sufficient gas quantities are available. Jack-Up” based on the company’s the upstream. through 25 years of safety in LNG tanker
Offshore liquefaction has been on the TPG 500 Jack-up. It is a Heavy According to Flex, the project operations,” K-Line said.

p1-22:LNG 3 03/07/2008 11:21 Page 13
OFFSHORE PRODUCTION
“The combination of floating LNG relatively low complex and cost efficient Flex said its objective has been to Its strategy is to simplify design and
production, its existing LNG transport (piping) of feed gas from the minimize the introduction of unproven remove unnecessary complexity, with
transportation, off-shore support vessel onshore reserves to the offshore location technology and “to take the smallest market focused engineering to adapt to
business and the global CNG project of the LNG Producer, Flex said. step possible.” industry requirements. It will also focus
development that K-Line is
promoting together with
EnerSea Transport allows
K-Line to provide a full
spectrum of gas
monetization solutions,” K-
Line added.
Flex believes its project
provides the LNG industry
with a unique possibility of
accessing currently
uncommitted gas reserves
for LNG production within
three years.
Proven methods
By using the proven
nitrogen expander
liquefaction cycle, regarded
by many as the most robust
and flexible liquefaction
technology in use in the
industry, the LNG
Producer is to source gas
from numerous potential
offshore locations
worldwide where natural
gas today is either left
stranded or is being flared.
Last month Flex’s heads
of agreements with
Mitsubishi and Peak also
included a deal on the
development of OML122
field in Nigeria.
Its PNG contract with
Rift has the following aims.
Flex and Rift plan jointly to
develop the upstream and
midstream project.
Potential offtake
partners will be brought
into the project to assist
Rift in accelerating the
upstream development.
“A floating liquefaction
Who’s the strongman of the seven seas?

project in the Asia-Pacific
region provides Flex with
increased access to the
MAN Diesel’s ME-B is. The ME-B engine has never been in better condition. Based on simple,
world’s highest paying LNG
well-proven diesel technology, it’s stronger, shorter and lighter than ever before, and has a lot
markets,” Flex said.
of muscle: electronic controls, fuel economy, high power, reliability, longer TBOs and lower
The PNG reserves are
propeller speed. You could say that the ME-B is the fastest way of getting you into shipshape.
located in the “Forelands”
province of the Pacific state Find out more at www.mandiesel.com
which is described as “a
prolific natural gas area
MAN Diesel – Powering the World
with a high exploration
success rate.”
Topography offers

p1-22:LNG 3 03/07/2008 11:22 Page 14
OFFSHORE PRODUCTION
metres/200 feet located in harsh beyond that originally designed for,

environment areas of the world (cyclonic), Technip said.
therefore requiring deck installation with “The developed construction strategy
a high air gap. is based on modularized topside facilities
During a presentation in Houston from multiple fabrication sites and offers
recently, Technip said the TPG 500 various scenarios for installation and
HPP is designed to transport and self- modular integration depending on the
install as a single element and LNG availability of dry-dock or quay facilities,”
plant with a dry weight of around the company added.
120,000 tonnes laid out on an area of According to Technip, the “Mega Jack-
36,000 square metres. The concept is Up” greatly extends the geographical
predicted on: range water depth for an HPP
The advantage of minimum offshore installation and offers a cost-effective
A graphic of how Flex LNG’s Producer vessel will look when completed hook-up, the complete system being alternative to relaying on multiple
integrated and commissioned at- platforms (and their associated
on modularization. The Flex technology Provides shorter overall LNGP shore, coupled with fast installation. requirements for installation vessels) or a
consists of the Dual Nitrogen expander lead-time. A solution without major soil sunken concrete barge.
liquefaction plant with 1.7 MTPA Engineering activities can focus on preparation and minimal seabed The offshore industry has previously
nameplate capacity. Field specific the part where long leads are environmental impact compared to a considered offshore production of LNG by
adaptations will be implemented to the gas located sunken concrete barge or GBS. focusing on 1 to 3 million tonnes per
pre-treatment systems. Field specific modules are currently The Technip concept is a development of annum-sized units with two fundamental
The LNG Producer will have 170 000 not on critical time-line established jack-up technology and concepts:
cubic metres LNG storage capacity with Offloading technology will see ship-to- transported in a wet tow configuration to Floating Production Storage and
the SPB cargo containment system ship mooring based on proven principles the offshore site, the legs jacked down to Offloading (FPSO)
Requirements are for around 230 used in lightering operations and LPG transfer the load to the leg foundations, Sunken concrete barge of gravity-
mmscf/day of feed-gas with 12-15 percent and crude FSO side-by-side transfer and the deck elevated to its final air gap based structure (GBS)
feed-gas shrinkage. There will also be operations. where it is locked in place, all in a matter However, the industry is now looking for
side-by-side offloading, and Dedicated Quick Release Hooks will be of hours. high-capacity units of 5 to 8 MTPA and
disconnectable turret mooring. installed on LNG Producer and these require a processing footprint that
Flex said it views the SPB containment pneumatic fenders will be used. The Multiple legs is well beyond the scale of existing
system as being a superior technology for system will also use a semi-automatic The TPG 500 consists of a jack-up with FPSOs.
the LNG Producer because of: connection device to assist with loading 18 independent legs and associated load
Sloshing resistant containment arm connection in exposed offshore distribution system resting on Derivation
system locations. conventional spud can foundations. Technip said its TPG 500 HPP for LNG is
Maximized flat deck space for topside Moving forward, Flex has signed Therefore, it does not require any directly derived from the TPG 500 series
equipment shipbuilding contracts for four LNG dredging or specific soil preparation to for conventional hydrocarbon production.
Combining sloshing resistance with Producer hulls: compensate for soil heterogeneity and/or The first was installed at BP’s
flat deck space and a proven track bathymetry variation. Harding field in the North Sea in 1996.
record Storage capacity The ability to vary the elevation of the The second was installed at Total’s Elgin
Excellent record from operation in Two LNG Producer hulls were ordered on HPP during the life of field in the North
the harshest LNG trade (Alaska to March 14, 2007; One LNG Producer hull the field also Sea.
Japan) was ordered on October 19, 2007; One provides a A third
further hull was ordered on April 15, safe
Liquefaction 2008. The first hull is expected to be
Flex said the Dual N2 expansion cycle
was selected for liquefaction because of
delivered in December 2010.
The LNG storage capacity will be
The elimination of
its proven design and functionality. 170,000 cubic metres capacity for all
There are currently two medium-scale
onshore liquefaction plants operating
units. Topside orders for the hulls had not
yet been placed by the end of June 2008.
pipelines and onshore
onshore Norway.
In addition, 28 small-scale re-
Looking at the larger production
equation, Technip is also developing its liquefaction facilities
liquefaction plants were delivered to or technology to exploit large-scale stranded
are on order for large LNG carriers,
including those being delivered to Qatar.
gas reserves.
The French company says its planned
means FLNG projects will
So the technology is proven at sea and processing facility’s footprint is
US peak-shaving plants also use the N2
expander cycle.
substantially beyond the scale of any
offshore production facilities to date.
have a considerably
Flex said the benefits of its Technip proposes a “Mega Jack-Up”
modularized approach include:
Easier to re-deploy at new fields later
based on the company’s TPG 500 Jack-
Up. It is a Heavy Production Platform,
reduced footprint
solution
in design life. called TPG 500 HPP, developed by platform
Only need to replace the field specific Technip and capable of operating in in the case of has been
modules. shallow water, typically up to 60 soil settlement installed at BP’s

p1-22:LNG 3 03/07/2008 11:22 Page 15
OFFSHORE PRODUCTION
Sha-Deniz field in the Caspian Sea with said in a statement. Shell has invested in at a number of potential developments a key part of Shell's efforts in meeting the
an elevating capacity of some 23,000 the development of FLNG technology around the world, particularly in the Asia energy challenge,” said Jon Chadwick,
tonnes, according to the Technip report. over the last 10 years and in the past few Pacific region. Shell's Executive Vice President for Gas
The LNG version uses the same months has said it is looking very closely “Investing in new LNG technologies is & Power in Asia.
proven elevating technology
for installing a large and
heavy platform, but
significantly more units are
required and hence a key
design aspect is the control
of the load distribution
between them.
The LNG field
development scenario
assumes a combination of
platforms based on fixed
structures for power
generation, accommodation,
storage and reception
facility, linked by bridges to
the TPG 500 HPP
supporting the LNG Trains.
The concept has been
developed by Technip
considering a location with
a large stranded field or a
substantial amount of
associated gas such as the
Gulf of Guinea, off West
Africa, Northern Norway
and Northwestern
Australia.
Shell, meanwhile, issued
a formal invitation at the
end of June to tender
for the front-end
engineering and
design and engineering,
procurement and
construction of its 3.5
MTPA FLNG plant at an
estimated cost of more than
$2 billion.
The tender was issued to
three consortia comprising
engineering and shipyard
contractors who have been
selected after an extensive
pre-qualification exercise
undertaken by Shell.
The interested groups
have been formed from
shipyards in Japan and
South Korea and
international EPC
contractors.
Shell FLNG bids

Bids are expected around
the end of 2008, with an
award of contract to the
successful consortium
possible during 2009, Shell

p1-22:LNG 3 03/07/2008 11:22 Page 16
“The progress with our FLNG concept Executive Director Gas & Power, Linda propane cycle with kettle type heat compact arrangement.
reinforces our reputation as the LNG Cook, speaking in Australia recently. exchangers for pre-cooling and a mixed CASCADE: The cascade process has
industry's leading technology developer,” The company’s Prelude gas discovery refrigerant cycle with a SWHE for used three pure refrigerants: propane for
he added. was made in 2007. The Prelude discovery liquefaction. The process requires special pre-cooling, ethylene and methane for
“Shell's FLNG solution enables the is an extension of the Ichthys gas field in designs of the spiral wound heat liquefaction. The optimized LNG cascade
development of previously uneconomic the neighbouring block. exchanger to withstand motion and process is adaptable for offshore use.
natural gas resources far from shore and Some liquefaction processes suitable permanent tilt. The process also requires MIXED FLUID CASCADE:
enhances the ability to operate for offshore include: a large inventory of propane. StatoilHydro of Norway and Germany’s
responsibly in environmentally-sensitive DUAL NITROGEN EXPANDER: BHP SMR: The SMR process typically uses Linde together developed the mixed fluid
areas,” he said. Billiton of Australia has developed a a brazed aluminum PFHE and is cascade (MFC) cycle. This process is
“The elimination of pipelines and variation of the commonly adopted Dual operationally well suited for offshore being used for the Snøhvit LNG project
onshore liquefaction facilities means Nitrogen Expander Cycle which they call applications. The process is generally in Northern Norway. It uses an all-
FLNG projects will have a considerably the cLNG process. It utilizes brazed limited to a Train capacity of 2 MTPA, electric drive design, but can be designed
reduced social and environmental aluminium PFHE in a compact modular but multiple Trains are common to for direct turbine drive as well. The
footprint,” the Shell executive added. design and is a relatively safe process. achieve higher capacities. refrigeration process and a cold Arctic
The FLNG concept's key dimensions DUAL EXPANDER: The ABB Dual The process is attractive as it has few climate help to boost the liquefaction
are about 450 metres by 75 metres, with Cycle process, called the NicheLNG equipment components. The multiple plant’s energy efficiency and in turn cuts
a 3.5 MTPA capacity, plus associated process is for small and mid-scale PFHE heat exchanger design offers some polluting emissions.
LPG and condensate production; taking capacities less than 3.5 MTPA. It is a mitigation to the sensitivity to motion
total liquid production potential to more
than 5 MTPA.
turbo-expander process that uses two
independent cycles: one uses methane
and permanent tilt inherent in the two-
phase MR process.
Reference
Shell may use the floating liquefaction refrigerant, while the other uses nitrogen DMR: This process is characterized by “Heavy Production Platform
technology it is developing to make LNG as refrigerant. The refrigerants are twin SWHEs for pre-cooling and for Offshore LNG
at the Prelude gas discovery in the always in gas phase. The process is liquefaction respectively. Each exchanger Development,” J.M Cholley,
Browse basin offshore Western Australia. relatively simple and uses one PFHE. is approximately half the height of a P.A Thomas, G. Lebois and P.
Australia’s Prelude gas field was C3-MR: This process has been applied single unit. This process eliminates Maniere. OTC Conference,
mentioned as a possible site for the onshore to mid-scale capacities up to 5 propane inventory and maintains high Houston, Texas, May 2008.
company’s first FLNG facility by MTPA. The C3-MR process uses a thermal efficiency, and is suitable for the
FLNG
IBC Global Conferences is delighted to present…
The ONLY event solely

focused on Floating LNG
An update on the latest

developments in offshore LNG !
ees
tend
at
00+
2
ith
r yw
r ua
b
n Fe
i
out
ld
Tuesday 23rd – Wednesday 24th September 2008 So The Café Royal, London
WITH PRESENTATIONS FROM MAJOR INDUSTRY PLAYERS INCLUDING: Sponsored by
» Philip Eystein Fjeld, Chief Executive, FLEX LNG » Harke Meek, Business Development Manager,
» Øivin Iversen, Senior Project Manager, Höegh LNG SBM/Linde
» Blake Blackwell, Vice President of Business » Arnfinn Unum, Vice President, BW Offshore
Development, Golar LNG » Chullyun Kim, Vice President of Project Planning Team,
» Phillip Cox, Business Development Manager, Offshore Samsung Heavy Industries
LNG, Technip » Tor Skogan, Vice President, Gas, Moss Maritime
Information and Bookings Hotline Telephone +44 (0)20 7017 5518

VIP NO EJ1107/LNGJ Web www.ibcenergy.com /flng

p1-22:LNG 3 03/07/2008 11:22 Page 17
WE DO IT SAFELY OR NOT AT ALL. SVITZER is a world leader in towage, salvage and related marine services.
Some 4,000 highly skilled people handle almost 600 vessels in more than 35 countries around the world.
SAFETY AND SUPPORT AT SEA
WORLD’S LARGEST LNG

TERMINAL TOWAGE OPERATOR
SVITZER provides berthing, pilotage, safety and cooperation with our clients. Our purpose: to tailor-
related marine services at LNG terminals around the make second-to-none maritime support solutions.
world. A ﬂeet of more than 100 dedicated terminal
STATE-OF-THE-ART FULL MISSION TUG SIMULATOR
tugs makes us the world’s largest supplier of towage
services to the LNG industry. Emphasis on continuous improvement is part of the
SVITZER solution. This is also evidenced by our
DEDICATED TEAM WITH YEARS OF EXPERIENCE development of a state-of-the-art full mission tug
We assist terminals in meeting the very highest opera- simulator. The ﬁrst of its kind in the towage industry
tional, environmental and safety standards. Our efforts and dedicated to clients of SVITZER. Coupled with
begin at the design stage. A strong team of dedicated our ongoing follow-up programmes and rigorous
naval engineers, operations and commercial LNG training of local crews, our clients are ensured conti-
experts put their years of experience to use in close nuous high performance at their LNG facilities.
Phone +45 3919 3919 · info@svitzer.com · www.svitzer.com

Pakhus 48, Sundkaj 9 · DK-2100 Copenhagen Ø · Denmark A part of A.P. Moller - Maersk Group
p1-22:LNG 3 03/07/2008 11:22 Page 18
LNG PROJECT RISKS
Relationships evolve for newest LNG

projects, but risks remain the same
Nick Prowse, a partner in law firm Norton Rose, presents the
second of a two-part series on key issues in LNG venture contracts
The critical issues between National services and sub-contractors.
Oil Companies and foreign investors Host countries may pass specific
in joint venture LNG projects, as legislation setting out local content
discussed in last month’s article, are objectives or requirements. In this case,
value extraction, control, added value the argument can be made that IOCs do
to the host country, incentives for the not need to agree to specific covenants in
investors and investment protection. the documentation in respect of local
These are the main drivers behind the content requirements as they would be
anatomy of a typical LNG project today required to comply with local law in any
and it is these issues that are being event.
contested by NOCs and international oil
companies (IOCs) during negotiation of Covenants
LNG ventures. Other countries may seek to impose
All NOCs wish to show their tie-ups covenants in the documentation in the
with foreign companies are in the absence of specific legislation. Greenfield site: The newest LNG projects carry many risks, but returns on
investment are increasing as are the industry?s technological advances
interests of the nation and so there must These policies seem to be working as a
be visible signs within a project that practical matter. Nigeria, for example,
national prestige and assets are has taken a strong stance on issues of challenge corporate entities with the Foreign investors will want a clear
protected, jobs are created and national local content. As a result, a report this ample legal and political remedies and stable legal and fiscal regime.
development is advanced. year by Nigerian National Petroleum available. Ideally, due diligence will reveal this,
Indeed, host countries may set Corp. confirmed that national content in In Europe, one notable project, BG although in reality this is unlikely to be
absolute legal requirements in this the oil industry is now about 37 percent, Group’s planned LNG regasification the case.
respect which will need to be met. These up from 12 percent in 2005. terminal in Brindisi, Italy, has currently Having understood the baseline
objectives often take the form of. Irrespective of where the obligation stalled because of local political position, foreign investors will want to
Local content objectives or obligations arises, IOCs will be keen to ensure that opposition. consider the political risks of the host
- to increase utilisation of and to issues such as cost and quality are not country and ensure the legal and fiscal
further develop local industry traded in exchange. Listing of shares regime is not subject to radical change.
Knowledge transfer requirements Also, if the project is to be project In some countries, local content also Ideally contracts with governments
whereby investors are encouraged or financed with foreign export credit takes the form of securing agreement will include a change of law/tax
obliged to hire and train local citizens; agency (ECA) support, there may be from the IOCs to enable the NOC to list stabilisation clause or an economic
and certain requirements from ECAs that the entirety or any portion of its interest hardship clause.
Health, safety and environmental goods and services must be sourced from on the local stock exchange. Before investing in a new country,
compliance requirements for the qualifying jurisdictions. Foreign investors may be in search of IOCs should conduct due diligence on all
project. However, ECAs now tend to be more investment incentives or exemptions of the issues referred to above. The due
These can give rise to competing flexible than they were in the past and from certain requirements. diligence should occur at two levels:
objectives and issues between IOCs and issues regarding sourcing of goods and This may be driven by the fact that, (i) Local law : This due diligence
NOCs. The Sakhalin II LNG project, for services can usually be resolved. Indeed, although the fundamentals for the exercise should cover off all of the issues
example, has suffered major problems as IOCs also favour sourcing goods locally project exist, such as supply of natural referred to above but also include the less
a result of environmental compliance as they tend to be cheaper, so long as the gas and a ready market for LNG, there ‘commercial’ issues of enforceability of
issues. appropriate quality is available. are a number of additional factors which contracts, choice of law clauses, choice of
IOCs will bring their best practices, Typically, LNG projects also seek to make investing in the project difficult jurisdiction, etc.
technology, engineering, financial and return some value to the local community such as high local taxes, contaminated (ii) Existing projects : Foreign investors
commercial expertise to the project. whether as part of an agreed programme land issues and problematic local legal will also want to conduct due diligence on
Naturally, a host government will see this with the host state or on a voluntary basis. requirements. any existing projects. For instance, have
as an opportunity not only to monetise the Local community initiatives are Accordingly, foreign investors may government assurances been given on
natural gas reserves but also to maximise important to secure necessary local seek concessions or protection from the other projects? Is there precedent for
the benefits of the relationship for the permits and approvals and to enable the host government in relation to these nationalisation in the country? Has the
nation, local contractors and workers. venture to work with, rather than matters through tax holidays, or existing project been successful?
In practice, host governments seek to against, the local population. indemnities for remedial land work or After the foreign investor has
ensure that the following goals are It’s not unusual for projects to be exemptions from problematic legal completed its due diligence, it may find
achieved: training of nationals and abandoned following local community requirements. that there are gaps in the legal framework
preferential employment opportunities; protests, as has happened with LNG For example, the Nigerian government which, although they are not deal-
transfer of technology and know-how; import projects in the United States, granted a tax holiday to the sponsors and breakers commercially, are significant
and the use of local manufactured goods, where lobbying groups can readily project company on Nigerian LNG; enough to merit further attention.

p1-22:LNG 3 03/07/2008 11:22 Page 19
LNG PROJECT RISKS
The goal is to address the issue in with these projects anyway. This may be example of how there may not be a single Agreement : Whereas a government
question in a manner which is legally due to an improved fiscal regime or means of resolving these issues for every decree is a public law document, an
enforceable against the parties. change in government in the interim project in a country. implementation agreement or concession
There are four ways of addressing period and is relevant because it is an (iv) Implementation/Concession agreement is a private contract. The
these issues which are
implemented by host
countries on a regular
basis: (i) Decrees, (ii)
Implementation/Concession
Agreements, (iii) Letters of
comfort and (iv)
shareholder agreements.
Though we are able
Eisenbau-Krämer
to draw certain themes A world market leader in large diameter
or identify broad
steel pipe production.
characteristics associated Founded in 1921, the quality and reliability of EBKs longitudinally
with each, the details will submerged arc welded steel pipes has enabled the company to become
a truly global supplier to the oil, gas and power industries, to the offshore
vary from jurisdiction to
and onshore construction sectors as well as machinery equipment pipes.
jurisdiction.
(iii) Decree: This is often Operating from three production bases in Germany, with a combined
yearly capacity of 100,000 tonnes, EBKs range of carbon and alloy
the most watertight but
pipes meet and surpass the most stringent national and international
most difficult to obtain. The quality standards.
principal benefit of a
Additionally, EBKs commitment to research and development has resulted
government decree or other
in the availability of revolutionary new products:
law is that it is passed by
the legislative body of the EBK Cryo Ultra Low Temperature Pipes suitable for cryogenic applications (LNG)
state and should trump EBK Clad Ultra Corrosion Resistant Pipes suitable for extreme wet sour gas applications.
any other inconsistent EBK Power Ultra Heat Resistant Pipes suitable for high temperature power generation
applications.
law or court ruling.
Additionally, it should also
Leading edge welding techniques and production know how, combined
bind any new government with the most modern production equipment in the world enable EBK
which comes into power in pipes to meet the highest quality requirements.
the future. The
For state of the art technology in pipe
disadvantage of a decree is
production, there is only one choice EBK
that it can be time-
consuming to obtain as it
will often need to be
X80 NACE / X140
approved by a session of
parliament.
We have advised on one
project in a jurisdiction
where the foreign investors
required certain comfort on
the fiscal regime.
The agreement reached
with the government on
this issue resulted in a
number of decrees being
passed in favour of both the
project company and the -196° C
sponsors, acknowledging
the existence of the project,
the importance of the
project to the host country
and its economic growth
Eisenbau Krämer mbH Sales linepipes Technical dept.
and granting certain tax Karl-Krämer-Str. 12 Mr. Winchenbach Dr. Reichel
holidays. D-57223 Kreuztal Phone: +49 (0) 2732 588-115 Phone: +49 (0) 2732 588-114
PO BOX 40 20 E-Mail: f.winchenbach@ebkpipe.com E-Mail: t.reichel@ebkpipe.com
Later projects in that D-57263 Hilchenbach
same country have notably Phone: +49 (0) 2732 588-0
Fax: +49 (0) 2732 588-102
not benefited from Web: www.ebkpipe.com
government decrees and
foreign investors have
chosen to move forward

p1-22:LNG 3 03/07/2008 11:22 Page 20
LNG PROJECT RISKS
purpose of this type of agreement is to Contracts between governments and Venezuelan government enacted a law to of its Orinoco Belt assets in Venezuela.
grant a concession from the government foreign investors may include give Petroleós de Venezuela S.A. control The foreign investor may also seek
to the beneficiary (which may be the LNG stabilisation or economic hardship over the largest oil fields in Venezuela. protection from political risks through
plant project company or the sponsors clauses whereby the parties agree to The impact of this initiative has been investment protection treaties, bi-lateral
themselves) which allows the beneficiary change the contractual terms if a change incredibly detrimental to foreign investment treaties and the involvement
to develop the project. in law occurs which results in an adverse investors. Many of them have been forced of ECAs. If local law does not provide for
These agreements can also be used to effect on the project or any shareholder to renegotiate their existing contracts compensation upon expropriation, it may
address any issues which arise as a result in the project. Such clauses are and, in June 2007, ExxonMobil and be that the foreign investor benefits from
of the due diligence process. Such frequently very general in nature, ConocoPhillips decided to exit their a treaty which has been entered into
agreements may not necessarily need to requiring the parties to make such respective projects after unsuccessful between the host country and its home
be approved by the parliament in a changes to the contract as necessary to attempts to agree new terms. country.
legislative session and accordingly can be restore to the foreign investors the In Russia, environmental problems Bilateral Investment Treaties (BITs)
acquired more speedily than a decree. economic benefits to which they would were cited and used as leverage to secure are agreements between a host state and
(v) Letter of comfort : A letter of have been entitled had the change in law a major shareholding for Gazprom in the foreign investor states which apply
comfort may be the least desirable of all not occurred. Sakhalin project. Sakhalin Energy principles of international law to
these agreements from a legal (viii) Change in tax: The government Investment Company Ltd (SEIC) was encourage, promote and protect
perspective. The reason for this is that may also seek to increase its revenues by initially an oil and gas joint venture investments between investors of the
letters of comfort are not binding and way of changing the applicable tax. between Shell, Mitsui and Mitsubishi, contracting states. They seek to provide
many often go so far as to explicitly state Again, this could undermine the with Shell as the majority shareholder. a degree of legal protection in relation to
that they are non-binding. They may be economics of the project from the time Russia has approved very few production the investment.
granted by the government or a ministry when the foreign investors made their sharing agreements and Sakhalin is the Disputes under BITs are typically
on its behalf and cover a range of final investment decision. largest of Russia’s foreign investment subject to resolution by international
different issues from change in law to a (ix) Expropriation: Expropriation is initiatives operating under such a arbitration.
simple acknowledgement by the another concern to foreign investors. regime. In November 2006, Russia The Energy Charter Treaty (ECT) was
government of its support for the project. This could take the form of an outright threatened to launch an estimated signed in December 1994. The origins of
(vi) Shareholder Agreement: Like an expropriation of the project and a US$15 billion complaint against SEIC. the ECT stemmed from the desire to
implementation/concession agreement, a mandatory transfer of legal title in the The Russian government accused the ensure that a commonly accepted
shareholder agreement is a private project to the government or may be by consortium of illegal logging and of foundation was established for
contract. A shareholder agreement may way of creeping expropriation. Creeping damaging rivers in the course of its pipe- developing energy cooperation among the
be used to address deficiencies in the expropriation is, as its name suggests, a laying work on the island of Sakhalin. states of Eurasia.
local law regime. It may be that the host more subtle means of reducing the value When an agreement was reached
country government is the only party of an investment for an investor. It occurs between the consortium and Gazprom, Resolution
which can correct the relevant deficiency in instances where several unexpected Russia’s NOC, whereby Gazprom The fundamental aim of the ECT is to
but it is the NOC which is actually the changes (e.g. environmental, regulatory, acquired a 50 percent stake plus one strengthen the rule of law on energy
shareholder in the project. In this bureaucratic, fiscal and/or legal) result in share in SEIC, the threats were stalled. issues by creating a level playing field of
situation, the government will not be the gradual diminution in value of the The initial consortium’s stakes have each rules to be observed by all participating
signing the shareholder agreement. original investment. been diluted by 50 percent, with Shell governments. There are currently 52
A foreign investor should also consider Expropriation has always been a real currently holding a 27.5 percent stake, as signatories to the ECT.
political risks as part of its due diligence risk and recent events in Bolivia, opposed to the 55 percent originally held. However, there are also a number of
process and try to structure the project to Venezuela, Russia and Algeria have countries which are merely “observers” to
mitigate such risks. demonstrated that these are Political risk mitigants the ECT, including LNG and natural gas
Perhaps the three most important unpredictable times in the LNG and Investors generally have limited options producers Russia, Nigeria and Qatar, as
political risks are change in law, change broader energy industry. to put measures in place to mitigate such well as Venezuela.
in tax and expropriation. In Bolivia, President Evo Morales political risks. Another form of protection against
(vii) Change in law : A government essentially proclaimed national The first point to consider is whether political risks is by way of involvement of
may express support for a project today ownership over the Bolivian oil and gas local law requires the government to pay ECAs in the financing of the project.
but that does not guarantee that laws industry in May 2006 by sending in compensation for any expropriation of This can take the form of direct
will not change during the life of the troops to occupy some of the larger the project or perhaps even a change lending by a government agency such as
project. Laws may be enacted which are Bolivian gas fields. Existing foreign in law. the US Overseas Private Investment
directly targeted at a project or which, investors were obliged to sign new If the government requires the Corp. or the Japan Bank for
although not directly targeted at a contracts with the Bolivian state energy sponsors to transfer legal title in the International Co-operation.
specific project, nevertheless impact company with the proviso that failure to project to the government, It could also take the form of an
directly on the project. do so would result in expropriation. some jurisdictions provide that fair insurance policy issued in favour of the
Compliance with environmental laws Foreign investors most affected by this market value compensation should be foreign investor or the lenders to the
is one area which is often reported by the nationalisation are Repsol, BP, Total and payable to the injured parties at the time project which allows for a payment by the
press. The plant may be built according Petrobras. Petrobras controlled about 14 of the expropriation. ECA to the beneficiary of the insurance
to certain environmental standards today per cent of Bolivia’s natural reserves pre- Even where the government is policy in the event, say, the project is
but what happens if the standards nationalisation; its dominance in the apparently seeking to pay fair market expropriated.
change over time? If the sponsors of the region has now been seriously value, there can often be disputes
project are required to incur substantial diminished. over how this amount is calculated. Conclusion
capital costs while the project is In Venezuela, various oil and gas This is presumably what has led to One interesting development in the
operational this will clearly impact contracts have also been subject to forced ExxonMobil seeking compensation LNG industry is the move of more
negatively on their returns. renegotiation. In March 2007, the through arbitration for the expropriation NOCs downstream both in joint

p1-22:LNG 3 03/07/2008 11:22 Page 21
LNG PROJECT RISKS
ventures with IOCs but also on their risks the IOC partners, Total and projects will continue to be those where This article is based on a presentation by
own. Certainly, in relation to the bigger StoilHydro, will be expected to take as the NOCs and IOCs are aligned and are Nick Prowse, Partner at Norton Rose LLP,
at the 4th Annual Law of LNG Conference
NOCs operating in the natural gas the project moves forward. working together in a long-term venture
in Houston, at the Centre for American
industry, perhaps we are seeing them In my view the most successful LNG for the benefit of all parties. and International Law.
become more like IOCs.
It is difficult to say
whether any particular part
of the LNG chain is more Under the High Patronage of His Excellency the Minister of Energy and Mines
lucrative than any other.
This will depend on the
economics of each
th Algeria Energy Week
particular transaction,
though in the last couple of
years the LNG economics
4
have swung in favour of the
resource holder.
However, there are
potential disadvantages for
an NOC moving MINISTÈRE
downstream If, for
DE L’ENERGIE
example, an NOC moves
downstream it may become
ET DES MINES
subject to taxes in foreign
jurisdictions and also
subject to the associated
change in tax risk.
Anti-trust and
competition issues
arise and, most importantly,
may
Algiers, Algeria
the NOC will also need to
bear the commercial risks
associated with its ventures
15 - 19 November 2008
downstream.
As a result, some NOCs
may prefer to generate as The New World of Energy : Challenges and Opportunities...
much value in the host
country as possible, where
they retain most control
and least risk.
Qatari LNG projects, for
example, are certainly 4th Algeria Oil & Gas Exhibition 6th International Strategic Conference 8th Technical and Scientific Sessions
different to many previous (ALOGE4) (CSI6) (JST8)
15 - 19 November 2008, Algiers 16 – 17 November 2008, Algiers 18 - 19 November 2008, Algiers
LNG projects with QP
having decided on
significant participation
For further information please contact Alain Marhic at
throughout the whole
chain.
amarhic@thecwcgroup.com or tel +44 20 7978 0080
It will be interesting to
see what shape the next
wave of LNG developments
takes. For example, the PLATINUM SPONSORS GOLD SPONSORS SILVER SPONSOR
Shtokman LNG project in
Russia.
With Gazprom
ultimately looking to
develop and sell into its
own European and other
natural gas markets, it
remains to be seen how
much value and control the
www.sea4algerie.com
Russian state will extract
from the project and what
type of political and other

p1-22:LNG 3 03/07/2008 11:23 Page 22
p23-30:LNG 3 03/07/2008 11:43 Page 1
NEWS
Blanca GasPort, the company's LNG location as ideal to quickly allow for acquire coal seam methane assets from
regasification vessel “Excelsior” is docked additional imports needed to bring more Santos of Australia, thus causing Origin
News alongside a dedicated jetty where it

connects to the onshore natural gas
natural gas to the Argentina market to
meet projected supply shortfalls. It has
management to reconsider the BG offer
in light of its own CSM resources. After
index pipeline via Excelerate's dockside high-

pressure gas off-loading arm. LNG
taken less than six months to construct
the Bahia Blanca GasPort and commence
the Origin rejection BG said that it would
consider its options. Analysts said that
cargoes will be supplied to the docked operations. Excelerate is currently the the move to go hostile at the same level
vessel via traditional LNG carriers using only LNG company using GasPort as the previously offered terms was not
ARGENTINA’S first LNG cargo was Excelerate's ship-to-ship LNG transfer technology. The company's first GasPort entirely surprising.BG is now forcing the
delivered by Excelerate Energy to the methods. “We at Excelerate Energy are at Teesside in the UK was commissioned Origin shareholders to consider the
newly constructed import facility at the pleased that our unique onboard in February. 2007. merits of its offer. The fact that BG has
port city of Bahía Blanca, about 400 miles regasification and GasPort technology not increased the headline offer price is
south of Buenos Aires. The gas was have played a pivotal role in the BG GROUP appealed over the heads seen as a positive move, as a significantly
successfully delivered through the Bahía successful completion of this historic of Origin Energy management with an higher offer would not have sat well with
Blanca GasPort directly into Argentina's project,” said Rob Bryngelson, Excelerate A$13.8 billion (US$13Bln) hostile BG's own shareholders, analysts said.
gas distribution system, the Houston- Chief Executive. “We have forged a takeover bid for the Australian coal-seam
based company said in a statement. The strong partnership with YPF S.A. and gas company as the UK company plans to BG, the leading Atlantic Basin LNG
Bahía Blanca GasPort LNG facility is congratulate them on their efforts to develop an LNG-from-CSG business in operator, said it signed an agreement
South America's first-ever LNG receiving ensure Argentina's future energy Australia. BG said its all-cash offer was with Samsung Heavy Industries of South
facility and the world's second dockside security,” he added. In August of 2007, A$15.50 per share. The offer represents a Korea for the delivery of two dual-fuel,
regasification facility. At the Bahía YPF S.A. selected the Bahía Blanca 48 percent premium to Origin’s closing diesel-electric LNG carriers. The BG
price of A$10.47 on April 29 - the last full LNG shipping fleet currently consists of
day of trading before the announcement more than 20 vessels that are comprised
of BG’s initial approach, the UK company of owned and chartered ships. The new
said. The UK company said it believed its ships will each have a cargo capacity of
offer represented a material premium for 170,000 cubic metres and are scheduled
Origin shareholders which reflects the to be delivered in 2010, BG said. “These
value of Origin’s integrated energy two new vessels are sister ships to the
business and its longer-term prospective vessels BG ordered from Samsung in
coal seam gas development. BG “believes 2006,” said Martin Houston, BG Vice
that a detailed and careful analysis of the President for Global LNG. “Their
technical, financial and commercial risks addition to the BG fleet will further
associated with the commercialization of enhance performance and provide
Origin’s CSG resources will confirm the increased flexibility in meeting the
attractiveness of its immediate all-cash growing demand by our customers
offer.” Recent transactions, analyzed on a throughout the world for natural gas,”
comparable basis, confirm that BG Houston added. Samsung will build,
Group’s offer provides “full value to equip, launch and deliver the ships,
Origin’s shareholders,” said BG Chief which will use the GTT Mark III
Executive Frank Chapman. “We believe membrane cargo containment system.
Origin shareholders have limited The new ships' design specifications are a
The Bahía Blanca GasPort LNG facility in Argentina (above) went into
visibility of the risks inherent in Origin’s repeat of the 170,000 cubic metres design
operation last month when it received its first cargo from the Excelerate
Energy vessel ‘Excelsior’ (below). The ship docked at a dedicated jetty where current reserves position and Liquefied which is intended to provide maximum
it connected to the onshore gas pipeline via Excelerate's dockside high- Natural Gas (LNG) joint venture flexibility for access into regasification
pressure gas off-loading arm alternatives,” Chapman said. “Today, terminals around the world while
Origin does not have sufficient CSG minimizing transportation costs.
reserves for an LNG joint venture: there Samsung has so far constructed and
are third-party contractual rights over a delivered eight ships for BG. These new
large number of Origin’s tenements that ships are intended to replace chartered
have not been adequately explained; and tonnage when delivered, BG said.
Origin’s domestic market requirements
from CSG exceed the company’s BROADWATER LNG, a project
currently available proven reserves,” the proposed by Royal Dutch Shell and
BG CEO added. “Furthermore, there are TransCanada Corp. for Long Island
currently no operating CSG-to-LNG Sound, has filed an appeal against New
plants anywhere in the world; competing York State’s ruling that the facility was
projects in Australia are more advanced; not consistent with the state's coastal
and many billions of dollars of capital management plan. The project, a $700
investment would be required,” Chapman million floating storage and
said. Origin management previously regasification unit, would be located 22
withdrew from talks, much to BG's miles offshore New York State. The
surprise, because an open market offer venture has already gained final
was made by Petronas of Malaysia to environmental approval from the US

p23-30:LNG 3 03/07/2008 11:43 Page 2
NEWS
Federal Energy Regulatory Commission. within installation services,” said Svein realized. The Kellogg Joint Venture The French-Japanese partnership is
The LNG from Broadwater would be Moxnes Harfjeld, BW Offshore Chief (KJV) is the downstream contractor for building LNG Trains each with a
vaporized and transported in a new Executive. BW said the Neptune contract Gorgon and is an unincorporated capacity of 7.8 million tonnes per annum.
subsea pipeline that would extend from was the third for BW Offshore partnership between KBR of the US, Woodside has helped turn Australia into
the seafloor beneath the FSRU to an Installation Services since the launch of JGC Corp. of Japan, and Clough Projects one of the world’s main LNG producers.
offshore connection with the existing the business a year ago. Australia and Hatch Associates. The The company is aiming between now and
Iroquois Gas Transmission System downstream component of the project the end of 2010 for final investment
pipeline in Long Island Sound. The Final CHEVRON Corp. said VetcoGray was includes the front-end engineering and decisions for an expansion of Pluto LNG,
Environmental Impact Statement issued awarded a five-year contract for subsea design for the project’s gas processing and the development of the Browse and
by the FERC had put the venture on equipment supply to the Gorgon LNG and export facilities on Barrow Island. Sunrise LNG projects. At the end of
track to be operating by the end of 2010, project in Australia. VetcoGray is an The Gorgon project is utilizing the 2010, Australia will have seven LNG
before the intervention of the state international subsidiary of GE Oil & Gas vendor identification services of the Trains in operation, six of them operated
government. The US Coastal headquartered in Florence, Italy, and Industry Capability Network of Western by Woodside and the other at Darwin
Management Program is run by the specializing in upstream subsea Australia to provide qualified LNG, where US major ConocoPhillips is
Department of Commerce, which will equipment, drillings, completion and information on Australian suppliers. the operator.
hear the appeal. “After careful production technology. Gorgon LNG, the Certain structures may be fabricated in
consideration and review of the record, joint venture between operator Chevron, Australia where practicable, Chevron DOW Chemical Co. of the US said it
we firmly believe that the Secretary of Royal Dutch Shell and ExxonMobil. added. “We look to maximize Australian entered into a four-year agreement with
Commerce will find that the Broadwater plans to construct an LNG plant at opportunities and hope to see Australian French-owned EDF Trading to share
project is consistent with the objectives of Barrow Island with three Trains each industry participate and grow its ability LNG terminal access in Texas and
the Coastal Zone Management Act,” said producing 5 million tonnes per annum. to engage in the subsea development Europe. Under the terms of the
John Hritcko, Senior Vice President of The project includes the subsea area,” said Chevron’s Gorgon agreement, Dow will share a portion of its
Broadwater. “In pursuing this appeal, we development of the Gorgon natural gas General Manager Colin Beckett. The regasification capacity at the Freeport
remain committed to delivering a new fields, located about 130 kilometers off environmental assessment process for LNG terminal at Quintana Island, Texas,
supply of clean, reliable natural gas the north-west coast of Western the expanded Gorgon LNG scope started with EDF Trading in exchange for access
directly to the Long Island, New York Australia. “We're extremely pleased that in February 2008 when the revision to to EDF's European regasification
City and Connecticut markets. These new Chevron has selected our technology, the already approved two 5 MTPA Trains capacity. The agreement brings together
facilities are needed if the region is to which has been proven in LNG was formally submitted to the Western two significant buyers in the wholesale
meet the significant energy and applications worldwide, for this major Australian Environmental Protection natural gas market who are active in
environmental challenges ahead,” Australian development,” said Dave Authority. The EPA’s decision – which different geographic locations. The
Hritcko added. Tucker, Chief Operating Officer of was advertised in March and received no Freeport terminal is still in the
VetcoGray. The companies didn’t disclose objections – set the level of assessment commissioning process, but is expected to
BW OFFSHORE said it signed a the value of the contract. The scope of at Public Environmental Review (PER) be ready for commercial operation soon.
contract with Suez Energy North VetcoGray's contract includes the supply with an eight-week public review period. Both parties will be able to compete more
America for the installation of the buoy of manifolds, pipeline termination Beckett said the project team would effectively in securing LNG supply by
system for the US Neptune LNG facility structures, pipeline end terminations, continue to work with the state and offering producers the opportunity to sell
off the coast of Massachusetts. The trees with subsea control modules, Australian governments and other LNG based on the higher of US or
company said it would install an wellheads, production control systems, stakeholders as the expanded scope European natural gas prices. “Dow is
Advanced Production & Loading system integration testing, installation progressed through the approval process. building an alternative energy portfolio
Submerged Turret system for Neptune and operations support. Last year a that will help mitigate rising costs of the
LNG, a subsidiary of Suez. The contract decision was made to pursue a scope of CHIYODA Corp., France’s Technip traditional energy sources of oil and
includes a complete installation of the three Trains instead of two to help and Fluor Corp. of the US said they won natural gas. LNG is an important part of
two STL buoys, gas risers, umbilicals, improve the project economics and contracts from Australia’s Woodside this portfolio,” said Craig Barry, director
suction anchors, mooring chains and wire address rising industry cost pressures. Energy to carry out studies covering the of Dow’s LNG business. “With the
segments. The contract party is the BW Under the latest contract, Vetcogray’s Browse LNG and Pluto LNG projects. expected growth in the global gas market,
Offshore subsidiary, APL Offshore, BW project and engineering management The three companies announced that this agreement will offer producers
said in a statement. The contract will be will be based in Western Australia. their Australian joint venture, known as flexibility and access to liquid markets in
completed without divers, as subsea Subsea structures and equipment are TCF, will carry out an onshore plant Europe and the US,” said Barry. “We
diverless mooring connectors developed highly specialized and much will be development study, as part of the expect producers will find this new model
by APL will be used, as well as diverless sourced from various international selection process of a design concept for very attractive as they evaluate
subsea connectors for risers and Vetcogray locations including Singapore, the Browse LNG project, located 425 downstream LNG opportunities,” he
umbilicals. The work is scheduled for the the US, the UK and Norway, Chevron kilometers from Broome, Western added. Eric Bensaude, Head of EDF
second quarter of 2009, with the contract said. The Gorgon project said it had also Australia. The three companies will also Trading’s LNG business said: “As two
valued at about $50 million. The Neptune started listing local supply opportunities prepare the “basis of design” for the large buyers of gas with complementary
Deepwater Port will be located 10 miles for downstream procurement on the proposed second processing Train for the strengths, the agreement successfully
off the town of Gloucester, Industry Capability Network WA’s Pluto LNG project, located in the Burrup leverages the existing relationships that
Massachusetts, and the facility will (ICNWA) ProjectConnect web site. The Peninsula of Australia. These two EDF Trading and Dow have each already
provide an average of 400 million cubic project said it was committed to separate studies are scheduled for established in the LNG market.” EDF
feet of natural gas per day, enough to providing full, fair and reasonable completion in the second half of 2008, the Trading is one of the leading participants
serve 1.5 million homes daily. “We are opportunity for Australian industry to companies said. Technip and Chiyoda are in the European wholesale gas markets.
the leading technology contractor for supply goods and services and is working regular LNG liquefaction project It is involved in the whole gas supply
LNG deepwater port terminals, and hard to ensure that local content partners and are the main contractors in chain including production,
this contract also confirms our strength opportunities for local contractors are Qatar, the world’s largest LNG producer. transportation, storage and sales.

p23-30:LNG 3 03/07/2008 11:43 Page 3
NEWS
It currently trades on all of Europe’s and restrictions on their assets in Russia. FERC, the US Federal Energy /navigation safety issues under the Ports
main trading hubs including Belgium, ExxonMobil, which has access to the Regulatory Commission, has issued a and Waterways Safety Act and the
France, The Netherlands and the UK. largest LNG source in the Middle positive final Environmental Impact maritime security issues under the
EDF Trading owns a fast-cycle gas Eastern state of Qatar, hopes to build a Statement for the proposed Bradwood Maritime Transportation Security Act
storage facility in the UK and owns 10 $1 billion terminal to supply about 1.2 Landing LNG import terminal near are addressed. Once a project is
percent of the IUK interconnector billion cubic feet of natural gas per day to Astoria in the state of Oregon. With authorized, the design review and
capacity between the UK and Belgium. the states of New Jersey and New York. FERC’s action, Bradwood Landing inspection process continues. This occurs
ExxonMobil, in partnership with Qatar becomes the first and only proposed LNG in two main phases during construction
DUNKIRK, through its Port Authority, Petroleum, is currently developing three terminal on the US West Coast to have and during operation. If a company
has approved plans by the EDF Group to other LNG terminals in Texas, offshore received a final EIS. “FERC’s acceptance receives FERC authorization for a project
construct an LNG import terminal on the Italy and in Wales in the UK. The US of our comprehensive environmental and has met all pre-construction
French Channel coast. The facility in company is also advancing government commitment is a testament to the conditions required by a FERC Order,
Dunkirk, which could be operating by as approvals for a fourth terminal in Hong thoroughness with which we have including approval of an emergency
soon as 2012, will be an alternative Kong. ExxonMobil is also evaluating the approached the development of this response plan, FERC will authorize
import route for LNG for France. The development of LNG supplies in Western project,” said NorthernStar Natural Gas construction to begin. “We invested in
newly merged Gaz de France-Suez group Australia, Papua New Guinea and Chief Executive William “Si” Garrett. “We excess of $6 million and three years on
have terminals in Montoir-de-Bretagne Nigeria. have been sensitive to the concerns of detailed field studies and research in
on the French Atlantic coast and local counties, the State of Oregon, and developing the Biological Assessment,”
Zeebrugge in Belgium. The facility would EXXONMOBIL Corp., operator of the the public,” said Garrett. The EIS said Garrett. “Our avoidance, mitigation
have capacity for 6 billion cubic metres $10-billion PNG LNG project, said it comprises two volumes totaling and voluntary measures not only create
per year in the first phase – or about 80 signed a formal joint venture agreement thousands of pages and addresses a net environmental benefit for the
LNG carrier deliveries. There would also with the Papua New Guinea state, comments submitted after the issuance Lower Columbia River, but also create a
be a second phase to double capacity. The opening the way for the venture to enter of the draft EIS on August 17, 2007. To new model for sustainable development
import plant in Dunkirk will vaporize the the engineering phase. The joint venture allow for maximum public input, FERC and corporate responsibility,” he added.
LNG with warm water from Europe's deal and an accompanying gas extended the comment period on the EIS The Bradwood Landing terminal and its
largest nuclear power facility at agreement establish the fiscal regime until December 24, 2007 for a total of 120 associated 38-mile pipeline could be
Gravelines. EDF has also announced a and legal framework by which the LNG days. The normal comment period is 45 operational by 2013.
deal with the Dow Chemical Co. of the project will be regulated throughout its days. “Bradwood Landing has
US to share LNG terminal access in lifetime. It also sets the terms and consistently stated its intent to comply FOSTER WHEELER, a leading
Texas and Europe. Under the terms of mechanism for state equity participation, with all applicable local, state and federal LNG engineering contractor, said it was
the agreement, Dow will share a portion ExxonMobil said in a statement. requirements,” said Garrett. FERC awarded a contract by Canada’s SNC-
of its regasification capacity at the Following the signing ceremony, the US coordinates with the Coast Guard to Lavalin for part of the front-end
Freeport LNG terminal at Quintana major said it would immediately enter ensure the waterways management engineering and design of a new LNG
Island, Texas, with EDF Trading in the front-end engineering and design
exchange for access to EDF's European stage. The PNG LNG project is an
regasification capacity. The agreement
brings together two significant buyers in
integrated development which includes
all components including the gas
Diary of events
the wholesale natural gas market who processing facilities, pipelines, and LNG
are active in different geographic plant. ExxonMobil’s current partners July/August
SEAAOC 2008 5th Energy Risk Management
locations. The Freeport terminal is still include Australian companies Santos and
Holiday Inn Esplanade, Darwin London
in the commissioning process, but is Oil Search, as well as Japan’s Nippon
16-18 July 2008 23 - 24 October 2008
expected to be ready for commercial Oil. However, shareholding levels will www.acius.net
www.seaaoc.com
operation soon. change when the PNG government’s
nominees join as equity participants at a 3rd Annual LNG World 2008 November
EXXONMOBIL Corp has reportedly later date. The agreement was signed on Tokyo, Japan 22nd International World
offered Russia's Gazprom, the world’s behalf of the State of Papua New Guinea 15 - 16 July 2008 Energy Congress IPMA
Palazzo Dei Congressi, Rome,
largest natural gas producer, a role in its by the Governor General, Sir Paulias www.marcusevans.com/html
Italy
BlueOcean LNG import terminal project Matane, and Minister for Petroleum and
9-11 November 2008
planned for 20 miles off New Jersey on Energy William Duma. The FEED team September
China Power Oil & Gas
the US East Coast. The Russian Itar-Tass will comprise personnel from European Autumn Gas
Guangzhou, China
news agency cited Gazprom Deputy Chief ExxonMobil, the joint venture companies Conference (EAGC) 2008
2 - 4 September 2008
Executive Alexander Medvedev as saying and the contractors based in PNG, 25-26 November 2008
www.chinapoweroilandgas.com
Gazprom could become an investor, Australia, the US and Japan.
Spazio Villa Erba, Lake Como,
Italy
without giving details. Gazprom is also “ExxonMobil is pleased to have the Gas FLNG www.theeagc.com
interested in investing in Alaskan and Agreement executed and to move this London, UK info@theeagc.com
Canadian projects. Investment in project to the next stage of development,” 23-24 September 2008
Russia's own oil and gas sector, however, said Peter Graham, Project Executive, www.ibcenergy.com/flng December
has proved a risky business for foreign ExxonMobil Development Co. “During OSEA2008 - The 17th
companies. ExxonMobil's investment in the FEED stage we will also pursue LNG
October International Oil & Gas Industry
LNG Tech Global Summit Exhibition & Conference
the Sakhalin-1 oil project in the Russian sales agreements, secure the necessary
Rotterdam, The Netherlands Suntec, Singapore
Far East has not always proved permits and licenses, and undertake the 20-22 October 2008 2-5 December 2008
straightforward, while Royal Dutch Shell, financial planning necessary for a final www.wtgevents.com www.osea-asia.com
BP and others have suffered pressures investment decision,” Graham added.

p23-30:LNG 3 03/07/2008 11:43 Page 4
NEWS
import facility in Poland. SNC-Lavalin is

the main contractor for the FEED at the
planned regasification terminal in
Swinoujscie, Poland. The initial
regasification capacity will be 5 billion
cubic metres per annum of natural gas
and the facility is expected to include two
LNG storage tanks of 160,000 cubic
metres capacity. The Foster Wheeler
contract value was not disclosed, but the
work will be carried out by the company’s
Spanish subsidiary. “We are delighted to
have been selected by SNC-Lavalin to be
a participant in the FEED,” said ,” said
Jesús Cadenas, Chief Executive of Foster
Wheeler Iberia. “This latest LNG award
further confirms Foster Wheeler Iberia’s
position as one of the leading engineering
companies in the LNG field,” said
Cadenas. “Our company is also currently
involved in two LNG terminal projects in
Spain for Enagas, and we are proud of
having participated in most of the LNG
terminals already in operation in Spain,”
he added.
GAS NATURAL, the Spanish LNG

player, was set to receive clearance for one
of two import terminals it’s planning to
construct in Italy, with a facility at the
northeastern Italian port of Trieste set to A graphic of the planned $1.2Bln Gate LNG terminal at the Maasvlakte in Rotterdam port. It will have an initial
throughput of 9 billion cubic metres and 180,000 cubic metres storage tanks and one jetty, with plans for an expansion
be given the go-ahead. The Barcelona-
based company has tried to push forward pipeline development. Gas Natural gas - formed to develop low-cost stranded storage tanks and one jetty, with plans
its two LNG projects by choosing Italian became the operator of Spain’s first LNG gas reserves in the Gulf of Guinea,” the for an expansion. An engineering
company Snam Rete Gas to construct terminal in 1969 when an import facility statement added. The combination of consortium consisting of Techint, Sener,
pipelines linking the two terminals was opened in Barcelona. The Spanish Afren's technical upstream capability Entrepose and Vinci will build the
planned for Trieste and Taranto to Italy's company currently manages the sole LNG with African LNG's gas terminal at a cost of about 800 million
national grid. Gas Natural first made its terminal in Puerto Rico, enjoying commercialization capacity is euros ($1.2Bln). The terminal is expected
applications to build the terminals almost exclusive rights for the excess complementary, strengthening the to be fully operational in the second half
four years ago. The Trieste and Taranto regasification capacity. capacities of both companies,” Gasol said. of 2011. The construction of the Gate
terminals, each with a capacity of 8 billion In particular, Afren, African LNG and terminal will also significantly
cubic metres, will represent a total GASOL, the independent natural gas E.ON Ruhrgas of Germany have recently strengthen Rotterdam's position as an
investment of around 1 billion euros company with LNG ambitions in the Gulf concluded a cooperation agreement “to energy port. The port authorities are
($1.5Bln). Italy Environment Ministry is of Guinea off West Africa, has completed jointly investigate, collect, develop, collect investing 60M euros in the basic
likely to approve the Trieste project after the reverse takeover of African LNG, and and monetize gas in Nigeria for domestic infrastructure. “The terminal dovetails
a series of investigations carried out over trading in the enlarged group’s shares and export LNG purposes.” Soumo Bose, with Dutch and European energy
the past year, officials said. The new commenced on London’s Alternative Chief Executive of Gasol said: “We policies, built on the pillars of strategic
government of Prime Minister Silvio Investment Market. Theo Oerlemans, remain highly confident of the reinforced diversification of LNG supplies,
Berlusconi has said it would speed up the Chairman of African LNG, has become Board and Management team's ability to sustainability, safety and environmental
planning process for the construction of Non-Executive Chairman of Gasol, and capitalize on the strong global growth in awareness of future energy supplies,”
more LNG terminals. Other companies, Ethelbert Cooper, co-founder of African LNG demand and the unique opportunity said Dutch Economic Affairs Minister
including BG Group of the UK which is LNG, joins Rilwanu Lukman as Strategic presented to independents like Gasol.” Maria van der Hoeven. “The direct
pursuing a venture in the port of Brindisi, Advisor to the Board of Gasol. Gasol said connection to the national transmission
have seen their LNG projects stalled for in a statement that African LNG brings a GATE LNG, the import terminal being network will also consolidate the
years in the Italian regulatory system. combination of business opportunities at developed in Rotterdam by storage giant Netherlands' position as a European hub
Three other Italian import projects are various stages of development and an Royal Dutch Vopak and natural gas for natural gas trading and distribution,”
moving forward, however, though the experienced management team in the oil transporter Gasunie, was given the Van der Hoeven said. The first long-term
country has only one operational terminal and gas industry and LNG in Africa. official go-ahead a launch ceremony by contracts have been signed with
at the moment at Panigaglia, near the “Ownership of African LNG will the Dutch government. The terminal at Denmark’s Dong Energy, Dutch company
port of Genoa, operated by Snam Rete strengthen Gasol's strategic relationship the Maasvlakte in Rotterdam port will Essent and EconGas, Austria’s largest
Gas. The Spanish gas company has with Afren Plc - under which Afren has have an initial throughput capacity of 9 supplier. “The Gate terminal initiative
confirmed that it was committed to both granted to African LNG an exclusive billion cubic metres per annum and will stands out for its independence,
Italian terminal projects and the planned right of first refusal to acquire its natural consist of three 180,000 cubic metres accessibility, excellent location, the

p23-30:LNG 3 03/07/2008 11:44 Page 5
NEWS
priority it gives to safety and the statement in Moscow while giving an Gazprom-led consortium then warned expected to stand at $401 per 1,000 cubic
environment and the unique combination update on the company’s activities. last year it would delay first exports to metres, the company said. Gazprom
of the two strong partners, Gasunie and Gazprom bought a 50 percent stake plus customers because of a slowdown in delivered 150.5 billion cubic metres of
Vopak,” said John Paul Broeders, Vopak's one share in the Sakhalin II LNG project construction. The LNG plant has two pipeline gas to central and western
Executive Board Chairman. for $7.45 billion in late 2006 under liquefaction Trains, each with a capacity Europe in 2007, a 0.4 percent decline on
controversial circumstances. This of 4.8 MTPA, and was originally expected the previous year due to the warm
GAZ DE FRANCE and Hoegh LNG followed pressures on the original to begin delivering to customers in June winter. However, sales revenue increased
of Norway said they agreed to set up a shareholders Royal Dutch Shell and 2008. The LNG has been bought under 5 percent to a record $39.5 billion last
floating LNG import facility offshore the Japan’s Mitsui & Co. and Mitsubishi contracts of up to 25 years by Japanese, year, with the average export price at
Adriatic coast of Italy. The floating Corp. from the Russian authorities on US and South Korean companies. $272.8 per 1,000 cubic metres.
storage and regasification unit will be environmental issues, but who were Meanwhile, Medvedev also revealed that
owned by GdF and operated by Hoegh. effectively pushing for Gazprom’s entry Gazprom plans to export more than 163 HOEGH LNG has awarded front-end
GdF is currently completing its merger to the project. Shell, Mitsui and billion cubic metres of pipeline natural engineering and design contracts to
process with Franco-Belgian peer Suez Mitsubishi are now left with 27.5 gas worth an estimated $64 billion to CB&I of the US and Daewoo
that will give the enlarged companies a percent, 12.5 percent and 10 percent of non former Soviet bloc countries this Shipbuilding & Marine Engineering of
powerful position in the Atlantic Basin in the operating company. The new year. The average export price is South Korea for the Norwegian
terms of trading, LNG offtake and
regasification capacity in Europe and the
US. However, the Italian facility will fill a
gap for the pair in Italy. The facility is the
third offshore import terminal planned
for the Italian coast. One of them, also
offshore the Adriatic, is owned by
ExxonMobil and Qatar Petroleum. Hoegh
operates five LNG carriers and has two
shuttle and regasification vessels (SRVs)
on order. Hoegh is also developing two
offshore terminals based on the SRV
20 th - 22 nd October 2008
technology in Florida and the UK. GdF
and Hoegh said their Adriatic LNG
Rotterdam, Netherlands
project would be called Triton LNG and www.lngevent.com energy@wtgevents.com
located 30 kilometres offshore. The LNG
storage capacity of the FSRU would be
about 170,000 cubic metres and the Achieve technical excellence across the LNG value chain
baseload regasification capacity 5 billion
cubic metres. “The technologies involved LNG Tech 2008 – The conference and networking event that brings together leading
in the FSRU-vessel and in the ship-to- oil and gas companies to discover how to harness the latest technologies for competitive
ship LNG transfer will be selected to advantage.
gather the safest and most cost efficient Conference - LNG TECH summit features 3 individual conference streams focusing on
and environment-friendly solutions,” the
liquefaction, transportation and regasification.
companies said. “The studies related to
the permitting and development of the
Triton LNG project are already well Confirmed speakers include:
advanced. The final investment decision
should be reached by the end of 2009,
with first LNG deliveries before the end
of 2012,” they said. GdF Chief Operating
Officer Jean-Marie Dauger, who will run Ahmed Shehata Abdelkader Haouari Fortunato Donato David Maocec
the new LNG division of the merged Production Manager Expansion Start-up Manager Costantino LNG Project Leader
GdF-Suez, said: “The Triton project EGYPTIAN LNG QATARGAS Head of LNG GAZ DE FRANCE
serves a double purpose: allowing Gaz de Egypt Qatar OMV France
France to be a player in LNG
development and to reinforce its presence
in Italy, where we have ambitions for a
Networking:
LNG TECH summit features both informal and formal networking opportunities including a
long-term presence, contributing to the
session of pre-scheduled one-to-one meetings with fellow delegates and solution providers
energy supply of the country.”
with which you share common interests and goals.
GAZPROM, the Russian natural gas To find out more please contact us at energy@wtgevents.com
company, said it would begin exports
from the Sakhalin II LNG project in the or call us on +44(0) 20 7202 7621
Russian Far East no later than January. To book your place now visit the website www.lngsummit.com
The company’s Deputy Chief Executive,
Alexander Medvedev, made the (quote booking code LNG JOURNAL 2)

p23-30:LNG 3 03/07/2008 11:44 Page 6
NEWS
company’s Floating Production Storage JPMorgan purchases. JPMorgan Chase recently commissioned at the same time transport and its fleet will number
and Offloading project. CB&I will & Co has guaranteed all of JPMorgan's as Sabine Pass. about 80 by 2010 as other newbuildings
concentrate on the topside facilities and obligations under this agreement, a are completed.
DSME on the hull, utilities and statement said. “We believe that MITSUI O.S.K. Lines held a naming
integration work. A separate agreement JPMorgan's domestic natural gas ceremony in Japan for a new LNG PETRONAS of Malaysia has bought
was also signed between Höegh LNG business and their power generation carrier, the “Energy Navigator”, 40 percent of the Gladstone LNG project
and CB&I for the US company’s Niche asset base will make an excellent bringing the Japanese company’s LNG from Australia’s Santos for up to US$2.5
LNG technology. The FEED contract complement to the send-out capabilities carrier fleet up to 62 vessels. The billion after a tender process. Petronas
period will run for about nine months of the Sabine Pass terminal,” said Charif ceremony took place at Kawasaki will make an initial cash investment of
and forms the basis for the building Souki, Cheniere Chief Executive. “We Shipbuilding’s Sakaide Shipyard. $2Bln, plus a further payment of $500
contracts which will be awarded after look forward to finding ways to Mitsunori Torihara, the President of million upon reaching a final
Höegh LNG makes its final investment incorporate the financial derivatives Tokyo Gas Co., one of the world’s investment decision for a second LNG
decision in the first quarter of 2009. The expertise of JPMorgan into our LNG largest LNG buyers, named the 147,000 Train for the project that plans to make
LNG FPSO design consists of offshore origination effort for the benefit of our cubic metres capacity vessel. MOL and LNG from coal-seam gas. “The
classed ship-shaped structure and a suppliers,” Souki added. Paul Posoli, co- Tokyo LNG Tanker Co, a subsidiary of agreement with Petronas establishes a
topside plant with capacity to treat and head of Global Energy for JPMorgan Tokyo Gas, co-own the “Energy new benchmark for the value of eastern
liquefy a well stream of about 3 billion Commodities, said the deal with Navigator”, with MOL holding a 30 Australian gas resources and represents
cubic metres per annum, which will give Cheniere would “further optimize and share and Tokyo LNG Tanker 70 a major step towards realization of
an annual production of between 1.6 to 2 enhance the value of Sabine Pass.” percent.. After its completion at the end Santos’ Coal Seam Gas (CSG) to LNG
million tonnes of LNG. The design is Cheniere is developing a network of of June, the four Moss-type tank vessel strategy,” Santos said. The transaction
such that it can be expanded to 2.4 three LNG receiving terminals and will transport LNG from Malaysia, sells a third of Santos’ CSG proven plus
MTPA of LNG or reduced to 1 MTPA. related natural gas pipelines along the Australia, and Sakhalin to supply probable (2P) reserves and less than 11
The FPSO will have storage capacity of Gulf Coast of the US. The company also Tokyo Gas, Toho Gas Co., and Shizuoka percent of Santos’ total 2P oil and gas
190,000 cubic metres of LNG and 30,000 holds a stake in a fourth terminal, Gas Co. MOL has moved aggressively to reserves. Petronas operates an LNG
cubic meters of LPG/condensate. The Freeport LNG in Texas, which was maintain its leadership in LNG complex in Bintulu, Sarawak, producing
first delivery is planned by DSME for 23 million tonnes per annum from eight
early 2012, Höegh said. “With the LNG LNG trains. The Malaysian company is
FPSO in place, Höegh LNG can offer a also a partner in the ELNG project in
complete offshore LNG supply chain,” Egypt and in the Dragon LNG project in
according to Chief Executive Sveinung J. Wales. In addition its subsidiary,
Stohle. “We recognized from the start Malaysian International Shipping Corp.
that building an LNG FPSO is a very is the world’s largest single owner-
complex and challenging project, quite operator of LNG carriers. Santos is
different from LNG carriers or even involved in another major LNG project
LNG re-gas vessels, and therefore in Papua New Guinea in partnership
choosing the right partners and the with other companies, including
right technology are critical success ExxonMobil. “The agreement fully
factors,” Stohle added. Höegh LNG aligns the interests of both companies
currently owns and operates a fleet of across all strategic elements of the
five traditional LNG tankers, and has value chain from resources to plant
two shuttle and regasification vessels development and operation, and LNG
(SRVs) under construction at Samsung marketing,” the statement added. The
for the Neptune project offshore Boston, Petronas-Santos deal follows a $12Bln
Massachusetts. The Norwegian company The naming ceremony for MOL’s latest LNG carrier ‘Energy Navigator’ taking takeover bid by LNG player BG Group
noted that DSME has been recognized place at Kawasaki’s Sakaide Shipyard. The ship is owned by MOL and Tokyo Gas of the UK for Australia’s Origin Energy,
for its “outstanding performance” in and will transport LNG from Malaysia, Australia, and Sakhalin Island to Japan a large coal-seam gas resource owner.
offshore oil & gas EPC contracts such as BG is also involved in a rival coal-seam
the world’s largest FPSO, the “Agbami” gas project, also centred on the
in Nigeria. Australian port of Gladstone in
northern Queensland. The Santos
JPMORGAN CHASE & Co., the US Gladstone project has achieved a
investment bank, and Cheniere Energy, number of important advances during
owner of US regasification assets, signed 2008, including the start of dual pre-
a domestic marketing agreement for the front-end engineering and design
sale of LNG. The agreement provides a studies conducted by LNG engineering
framework under which Cheniere’s contractors Foster Wheeler and Bechtel
marketing arm sells to JPMorgan LNG of the US, and the lodging of
it acquires on delivery to the Sabine environmental applications.
Pass Terminal, located in southwest
Louisiana. Additionally, JPMorgan will QATARGAS said it sent its first
acquire a portion of Cheniere shipment of LNG onboard a new Q-Flex
Marketing's capacity for storage and carrier to the United States for the new
regasification services for the LNG that Sabine Pass LNG terminal in Louisiana.

p23-30:LNG 3 03/07/2008 11:44 Page 7
NEWS
The Qatargas vessel “Al Gharrafa” is on LNG buying. RasGas has also been a Asia-Pacific region,” said Linklaters expected to be up to US$0.7 billion.
charter to RasGas to deliver for seller of spot cargoes to Taiwan in partner Stuart Salt. Linklaters partner Completion of a definitive agreement is
Cheniere Energy, owner of the new US advance of the new sales agreement James Douglass, who co-led the deal in anticipated in the near term,” the
facility. This is the first Q-Flex vessel to coming into effect. the finance documentation phase, added: statement added. “This proposed alliance
call at a US destination and the second “The financing involved a number of between Shell and Arrow would combine
cargo for the Sabine Pass terminal. The SAKHALIN Energy has received $5.3 innovative structures and demonstrates the complementary strengths of our two
“Al Gharrafa” is one of the pioneering billion from a consortium of international that complex secured financings are companies,” said Chris Gunner, Chief
new generation of LNG ships with a banks and lenders to finance the final achievable in the Russian market.” Operating Officer for Shell Development
capacity of around 216,000 cubic metres. stages of construction of the $20Bln White & Case was appointed in 2002 as (Australia) Pty Ltd. “Shell has global gas
The vessel built at Hyundai Heavy Sakhalin II LNG project, according to international counsel to represent all of marketing and financial strengths
Industries in South Korea is owned by a lawyers involved in the project financing. the lenders. The White & Case team was coupled with leading research
joint venture between Qatar Gas Law firms Linklaters and White & Case led by Peter Finlay in London with capabilities. Arrow has proven CSG
Transport Co. (Nakilat) and Overseas advised on what was the world's largest extensive involvement over many years expertise, and extensive Australian and
Ship Holding Group (OSG) and is on limited recourse oil and gas financing of partners including Jason Kerr, David international CSG acreage positions. "We
long-term charter to the Qatargas 2 and Russia's largest ever foreign Baker and Doug Peel in London, George look forward to working with Arrow and
project. “This is yet another significant investment project. Sakhalin II LNG, Crozer in Washington DC, Marc Polonsky creating an alliance that should become
milestone and industry first for located in the Russian Far East, was and Igor Ostapets in Moscow and a significant force in the development of
Qatargas and its new fleet of vessels,” beset with political problems, as a Hendrick Gordenker in Tokyo. “This was CSG resources,” Gunner said.
said Ahmed Al Khulaifi, Chief Operating consequence of which Russian natural a unique experience unparalleled in
Officer for Qatargas shipping. “It is the gas giant Gazprom came in as the transactions of this type,” said White & TOTAL said it signed an agreement
first time a Q-Flex has called at a majority shareholder, buying stakes from Case partner Peter Finlay. “It would not with China National Offshore Oil Corp. to
terminal in the US and we look forward Royal Dutch Shell and its Japanese have been brought to fruition without cooperate in the energy field and for the
to being able to ship many more cargoes partners, Mitsui and Mitsubishi. The considerable success by both sets of legal French company to sell LNG to China.
safely to the US in the future,” he said. project suffered project and cost overruns, advisers in addressing many structural Under the terms of the agreement, up to 1
The Q-Flex membrane-type vessels are but is now on schedule to begin deliveries challenges,” Finlay added. million tonnes per annum of LNG will be
propelled by two slow-speed diesel of LNG to customers in Japan and North delivered annually to the Chinese oil
engines, making them more efficient and America from the first half of 2009. SHELL announced a deal to enter the group starting in 2010. The gas will be
environmentally friendly than Linklaters advised Sakhalin Energy and coal-seam LNG business after it signed sourced from Total’s global LNG portfolio,
traditional steam turbines. Equipped White & Case advised Japan Bank for an agreement with Arrow Energy of based on its participation in 10
with an on-board re-liquefaction system International Cooperation (JBIC) and the Australia to jointly develop projects in liquefaction projects worldwide and on its
to handle the boil-off gas, these vessels commercial lenders as common lenders' Australia, China, Indonesia, Vietnam and LNG trading activities. Total Chief
are able to deliver almost 100 percent of counsel on the Phase II financing. The India. The alliance with Arrow will boost Executive Christophe de Margerie signed
the cargo to the customers. Qatargas is project reached financial close on June Shell's existing strategic positions in the memorandum of understanding with
currently undergoing major expansions, 16. The financing covered an integrated potential coal seam gas areas, the his CNOOC counterpart Fu Chengyu.
with new projects under construction oil and gas production project comprising companies said. Arrow has significant “The aim of the two companies is to
and nearing completion. Current LNG three offshore platforms, onshore CSG production facilities in Queensland, enhance wide-ranging cooperation in the
production at Qatargas is 10 million processing facilities, two 800-kilometre Australia, where it is the largest CSG areas of upstream, downstream and in the
tonnes per annum and by the end of pipelines and an oil export terminal and acreage holder. It has four producing field of new energies,” said a statement on
the decade the company will be a two-Train LNG production facility. projects in Queensland, and supplies gas the agreement. The LNG supply deal is
producing 42 MTPA. According to the law firms, the final for industrial users such as power described as “the first concrete
financing consists of a JBIC loan tranche stations. The memorandum of application” of the arrangement, as both
RASGAS II project in Qatar has sent and a tranche of uncovered commercial understanding calls for Shell to acquire a companies explore further cooperation, “in
its first cargo to Taiwan’s CPC Corp. bank debt led by six mandated lead 30 percent interest in Arrow's CSG line with China’s priorities of energy
under a 25-year contract. CPC and the arrangers. Linklaters said it was acreage in Queensland, as well as a 10 security and sustainable development.”
Qatar Petroleum-ExxonMobil Corp. appointed to represent Sakhalin Energy percent stake in Arrow International - a CNOOC already has a 45 percent stake in
venture have a contract for more than 2.7 and the sponsors in December 2000 and wholly owned subsidiary of Arrow Energy the Akpo project in Nigeria, operated by
million tonnes per annum of LNG to be has remained as project counsel for both Ltd, which holds Arrow's international Total. Total was the first major oil
supplied from RasGas II. CPC already international and Russian law aspects interests in CSG. The agreement also company to undertake offshore
has three contracts with Indonesia and throughout the financing. gives Shell a five-year option to acquire exploration and to produce offshore oil in
Malaysia to buy 5.1 MTPA. However, the The Linklaters team worked in tandem up to 50 percent of individual Arrow China in the 1980s, and has other
country’s projected LNG requirement has with Barbara Blum and Jacob Cameron International projects, which includes interests there in refining, marketing and
risen to around 8 MTPA and CPC has as Sakhalin Energy’s in-house finance activities in China, Shell said in a chemicals. The French company has a
been trying to diversify its sources of counsel. The Linklaters team was led by statement. Under the deal Shell would powerful LNG portfolio, including
LNG, which accounts for more than 95 partner Stuart Salt from appointment also acquire the right to negotiate an capacity at the new Sabine Pass import
percent of natural gas supply in Taiwan. with partners Dmitry Dobatkin, James agreement to purchase any LNG that terminal in the US Gulf of Mexico. Its
The oil refiner plans to spend at least Douglass, Matthew Hagopian, Jeremy may potentially be produced from the other interests include stakes in the Brass
US$33 billion for between 1.8 MTPA and Gewirtz, Narayan Iyer, John Maxwell, CSG operations. “Shell and Arrow have LNG project in Nigeria, in the Ichthys
2.72 MTPA for up to 20 years from Vanessa Havard-Williams and Daniel also agreed to undertake further research LNG venture in Australia and in the
Woodside Petroleum’s proposed Browse Tyrer playing key roles over the and development in this important and Qatargas II project in Qatar. Total has
project in Australia. Last year CPC years.“This has been an epic adventure growing area of gas supply,” Shell said. also signed up with Gazprom for the
bought around 30 spot cargoes to meet its and we have been privileged to be part of “Shell will also assign at least five development of the first phase of the huge
supply shortfall. The spot purchases such a world class project which is a personnel to work at Arrow's operations. Shtokman gas field and allied LNG
accounted for more than 20 percent of its landmark deal for both Russia and the The total value of the agreement is project in the Barents Sea.

p23-30:LNG 3 03/07/2008 11:44 Page 8
NEWS
TOTAL said it made a significant 2009, US LNG imports are expected to Shell “to join a global facility service their combined demand for natural gas
natural gas discovery in the Maharaja reach about 850 Bcf as new liquefaction company.” Shell has a presence on the will increase by only 9.9 Tcf, the US
Lela-Jamalulalam gas field that already capacity increases world supply, the Woodside board because of its 34 percent report said. “Moreover, because natural
supplies the Brunei LNG plant. The report added. The US has also increased shareholding in the company following gas combustion produces less carbon
French company said the discovery was its import capacity with two new onshore an abortive takeover bid in 2001. dioxide than coal or petroleum products,
made about 50 kilometres offshore in the terminals at Sabine Pass in Louisiana Woodside Chairman Michael Chaney governments will encourage its use to
MLJ2-06 well. Total is a shareholder and Freeport, Texas, and has a new said Stausholm had been a very effective displace the other fossil fuels as national
along with Royal Dutch Shell and the facility offshore Massachusetts run by director during his two years on the or regional plans to reduce greenhouse
Brunei authorities. With a final depth of Excelerate Energy. Total US marketed board and wished him well in his new gas emissions begin to be implemented,”
5,850 metres, the well is the deepest ever natural gas production is expected to position. Stausholm will be replaced as a the report added. “Natural gas is
drilled in Brunei in a high pressure/high increase by 6 percent in 2008 and by 1.5 Shell-nominated director by Ian expected to remain a key energy source
temperature reservoir, Total said. “Other percent in 2009. This projection includes Robertson, effective June 30. Robertson for industrial sector uses and electricity
new gas compartments in the Maharaja an estimated expected hurricane-induced is Executive Vice President for Shell’s generation throughout the projection
Lela-Jamalulalam field have been outage of about 78 Bcf for the offshore Finance Operations, based in Singapore. period,” the EIA said. The industrial
detected and further appraisal work is region in 2008. High rig counts in the He has had a 28-year career with Shell sector, which is the world’s largest
necessary to evaluate them,” Total said in lower-48 onshore region, particularly in including positions in the UK, Gabon and consumer of natural gas, will account for
a statement. Total, which has been unconventional reserve basins, are Malaysia. Woodside, a growing presence 43 percent of projected natural gas use by
present in Brunei since 1986, said the expected to lead to an increase in onshore in the LNG industry and a key supplier 2030. “In the electric power sector,
new well should come onstream before production of 7.4 percent in 2008, the EIA to Japan and China, has often been the natural gas is an attractive choice for
the end of 2008. In addition, Total holds a report said. On the prices front, the subject of takeover speculation. However, new generating plants because of its
60 percent interest in Brunei’s Henry Hub spot price averaged $11.65 the Australian government would oppose relative fuel efficiency. Electricity
exploration block J, situated deep per Mcf in May, $1.16 per Mcf above the an approach from a foreign company generation will account for 35 percent of
offshore, for which a production-sharing average spot price in April. High oil because of “national interests.” After the world’s total natural gas consumption
agreement had been signed in March prices, low LNG imports, consumption Australia’s government opposed the Shell in 2030,” the EIA said. Much of the
2003. Exploration activities on this block growth, and a year-over-year decline in takeover bid seven years ago. Woodside world’s growing demand for natural gas
have been suspended since May 2003, working inventories of 326 Bcf have all held talks with Australian companies is projected to be met by increased
awaiting the resolution of a border contributed to the recent strength in spot BHP Billiton and Santos about possible production from non-OECD nations. Non-
dispute with Malaysia. Total’s production prices, the EIA said. “These conditions mergers, but nothing came of the talks. OECD countries will account for more
in the Asia-Far East region amounts to 11 are expected to continue and keep than 90 percent of the world’s total
percent of the group’s production, though pressure on natural gas prices,” the WORLDWIDE natural gas growth in production to 2030. A
its assets are mainly located in Indonesia, report added. On an annual basis, the consumption is expected to increases significant portion of the non-OECD
another LNG producer. Henry Hub spot price is expected to from 104 trillion cubic feet to 158 Tcf by production (excluding Russia and the
average a little over $11 per Mcf in 2008 2030 and a significant portion will be other nations of Eurasia) is expected to
US LNG imports remain substantially and in 2009, an average increase of about LNG, a new US report says. be in the form of export projects -
below last year and LNG supplies $1.35 per Mcf from last month's forecast. According to the US Energy Information particularly LNG. Significant increases
continue to flow to the higher-priced Administration’s latest world energy in natural gas production are also
markets of Asia-Pacific and Europe. LNG WOODSIDE Petroleum said Royal outlook, natural gas is expected to projected for the countries of non-OECD
imports to the US this year are expected Dutch’s Shell’s nominated director on the replace oil wherever possible. The Middle Asia, but those supply increases are
to total about 530 billion cubic feet, a board of Australian LNG producer, Jakob East and Africa will be at forefront of the expected to be used largely for
decline of about 240 Bcf from the 2007 Stausholm, has resigned. A Woodside trend towards LNG: natural gas consumption within the region rather
total, the Energy Information statement said Stausholm, who was production in the two regions combined than for export, the EIA report said. In
Administration said in its latest report. In appointed to the board in 2006, is leaving will increase by 21.0 Tcf by 2030. But the absence of national policies and/or
binding international agreements that
would limit or reduce greenhouse gas
emissions, world coal consumption is
Subscribe now projected to increase from 123 quadrillion

Btu in 2005 to 202 quadrillion Btu in
2030, at an average annual rate of 2
and get -30% till 30th September* percent. Coal is the main energy rival of
LNG in the power sector. Coal’s share of
*terms and conditions apply world energy use has increased sharply
over the past few years, largely because
of strong increases in coal use in China,
subs@lngjournal.com which has nearly doubled since 2000 and
is poised to increase strongly in the
future. With its large domestic base of
coal resources and continuing strong
economic growth, China alone will
account for 71 percent of the increase in
world coal consumption. The US and
India, both of which also have extensive
M a r i t i m e C o n t e n t L t d , 2 1 3 M a r s h Wa l l , L o n d o n E 1 4 9 F J , U K domestic coal resources, each will account
Te l : + 4 4 ( 0 ) 2 0 7 5 1 0 0 0 1 5 F a x : + 4 4 ( 0 ) 2 0 7 5 1 0 2 3 4 4 w w w l n g j o u r n a l . c o m for 9 percent of the world increase.

p31-38:LNG 3 03/07/2008 12:26 Page 1
p31-38:LNG 3 03/07/2008 12:30 Page 2
LNG TRADING
Singapore moves step closer to

raising status in LNG market
David Hayes reports from Singapore on the city state’s LNG progress after it tied up
supply and alliance deals with the industry’s main players in the UK and France
A fully laden LNG carrier passes building and operating LNG terminals to
Singapore almost every day of the year this project to provide LNG supply to
on its way to Japan or South Korea for Singapore,” said GdF Chief Executive
discharge. Jean-François Cirelli.
But soon the city state could have a Australia’s Woodside Petroleum and
say in what prices are being paid in the several other companies have already
Asia-Pacific and elsewhere as it builds up started spot trading out of Singapore,
its LNG spot trading capability and taking advantage of 10-year tax breaks.
establishes its own import facilities. Singapore’s Energy Market Authority
Singapore is a recognized trading hub awarded BG the contract to operate as
for the oil industry and for petroleum LNG aggregator in preparation for the
products. In addition to its key position launch of its import programme.
on shipping lanes, the country has world- The BG contract will be followed
class trading infrastructure, plus good shortly by pre-qualification submission to
government, market regulation and bid for the engineering, procurement and
openness. construction contract, heralding the birth
Singapore is set to become a centre for of a new LNG market and a potentially
spot trading in LNG cargoes and important LNG trading centre serving
emissions credits, to add to its role as the Asia-Pacific region.
Asia’s oil trading hub.
It is awaiting like much of the rest of Diversify
the industry some form of derivative, but “The government has decided to import
current Henry Hub values and netbacks LNG to provide security of gas supply.
will still enable a cargo market to LNG will enable us to diversify our
function, analysts said. supply sources. We plan to have the LNG
terminal ready in early 2012,” said EMA Singapore will be the only gas market in Asia with LNG and pipeline imports, and
French link-up Chief Executive Khoo Chin Hean. could one day arbitrage between markets and become a regional supply Hub
It is proceeding with its own LNG “Individual LNG demand of end users
imports to meet future energy demand, is too small from the Singapore domestic Woodside offered a combination of selected BG to be LNG aggregator and
with a terminal planned by 2012, while market to attract interest from LNG Browse and Pluto LNG, BG offered supply Singapore’s end-user market. We
countries with Kyoto Protocol targets are suppliers. Establishing an aggregator has from its Atlantic portfolio, while share the government view that LNG
looking to buy credits from greenhouse made Singapore a more attractive ConocoPhillips and Marubeni proposed will have an increasing role in the energy
gas emissions-cutting projects in Asia. market for LNG suppliers,” he added. sourcing from Qatar. mix and security of supply,” said Martin
Singapore struck a deal in April with EMA is Singapore’s national energy “It was not an easy task to select the Houston, executive vice president for BG
leading Atlantic Basin LNG trader, BG agency and energy sector regulator. The winner,” Khoo said. “We assessed bids by Global LNG.
Group of the UK, to supply its LNG when authority along with the Ministry of four criteria: the bidder’s ability to carry “BG Group operates in 27 countries on
the planned terminal is in operation. Trade and Industry is responsible for all out aggregator role; the reliability and five continents. Our operation’s
In addition, on June 30, it was long-term energy planning. suitability of their LNG supply sources; diversified but the strategy is simple – to
announced that Gaz de France had EMA kicked off the two-stage proposal the proposed pricing and terms; and the supply gas,” Houston added.
entered an agreement with PowerGas, a process to select an LNG aggregator in added value that would arise from the By 2018 BG expects to export 3 million
wholly owned subsidiary of Singapore September 2007. Some 18 proposals were company’s trading proposals.” tonnes a year of LNG from Queensland.
Power, to jointly build and operate received from 22 companies, a number of Most of it could be shipped to Singapore,
Singapore's LNG terminal. GdF will hold which had their own source of LNG. Five BG winner cutting transport costs supplying LNG
a 30 percent share of the project. companies were short-listed from which BG has its own portfolio of LNG offtake from the Atlantic as Queensland is much
GdF is the third importer worldwide BG emerged as the winner. and gas reserves, and already supplies closer geographically.
and with its new European merger Apart from BG, the four other bidders LNG to 14 countries. The 3 million tonnes BG owns 25 LNG carriers and
partner, Suez Energy, will give Singapore included a Japanese company, a US oil per annum contractual requirement with charters additional carriers if needed.
privileged access to the wider LNG major, a European oil major, and Singapore will be sourced from Egypt, The largest carriers in the BG fleet are
market. Woodside. All proposals were competitive. Nigeria, Equatorial Guinea and Trinidad 150,000 cubic metres capacity. Houston
“We are pleased to have been selected The three finalists were named as initially; and from Australia in future noted that two 170,000 cubic metre LNG
as PowerGas' partner to work on this new Woodside, BG, and US major after BG develops its project to make carriers are being built according to BG’s
project. Gaz de France will bring its 50 ConocoPhillips along with Marubeni LNG from coal-seam gas. own design at Samsung Heavy Industries
years of experience and expertise in Corp. of Japan. “We are very excited that EMA shipyard in South Korea.

p31-38:LNG 3 03/07/2008 12:30 Page 3
LNG TRADING
Analysts say that the BG tie-up with “EMA decided to appoint an LNG EMA estimates that initial LNG Duke said, “There is about 10,000 MW
Singapore is itself a sign that the Asian aggregator as local power companies consumption from 2012 when the first installed generating capacity in
markets player could have a bigger say in have small demand and no experience in LNG cargos will begin to arrive will be Singapore of which over 30 percent is
the future shape of LNG spot trading in LNG trading. The aggregator will be about 800,000 to 1.2 million tonnes a reserve capacity. Electricity demand is
the region. doing the buying for local companies by year to start with. growing by about 400MW a year,”
aggregating LNG demand,” Duke said. he added.
Domestic users “Bidding for the contract attracted Evaluation “It is an EMA requirement to
Gas pricing was one of the key issues that vigorous competitive prices. BG contested As part of efforts to improve forecasts maintain a 30 percent generating reserve
influenced the EMA’s selection of BG as very hard. EMA got a good deal in the of LNG demand growth EMA continues as industry and Singaporean society have
LNG aggregator. Choosing LNG is not a current LNG market but the contract is to monitor large existing gas consumers high expectations of service. Electricity
cheap option any longer, but Singapore more than about price. We are confident and consult with potential LNG users to supply is reliable here and it is important
has a blue-chip economy and in selecting about competitive prices in future from gauge their future gas requirements. too attract industrial investment; so
LNG has demonstrated its ability and the contract,” he added. “The size of the planned LNG energy security of supply is very
willingness to pay for energy security. “LNG will join the Singapore gas receiving terminal may engender trading important,” Duke said.
“We have a price indication that we will market where the official gas code allows opportunities for third parties and an Currently Singapore imports 900
take to users,” Khoo said. “Terms of supply licensed companies to buy and sell gas. It opportunity to take capacity in the mmscfd of gas by pipeline from Malaysia
have to be appropriate for the power remains to be seen whether a more import terminal above EMA use for and Indonesia, mainly for power station
industry with variability in supply volume traded market emerges that allows trading use,” Duke explained. consumption and industrial users.
throughout the day and year. Details of financial instruments to develop,” Duke The current volume of natural gas “There still is a city gas system
terms are to be discussed with end users.” explained. that Singapore imports by pipeline from using naphtha reforming to produce
“This is a very exciting project The growth of LNG consumption in Malaysia and Indonesia is equivalent to 6 gas supplies,” Duke noted. “City gas
bringing a new energy source to an Singapore will depend on LNG’s price MTPA of LNG. is used for cooking in homes but
important economy,” said the EMA’s LNG competitiveness compared with piped “The main reason Singapore is going most people eat out as food is cheap
Project Director Rod Duke. gas imports. for LNG is to fuel power generation,” and there are different places to go.
Singapore’s LNG terminal will be built on a 30.5 hectare offshore site near Jurong port in the west of Singapore where a land reclamation scheme is underway
p31-38:LNG 3 03/07/2008 12:30 Page 4
LNG TRADING
Old flats are fed by bottled LPG,” combined cycle units,” Duke said.. “Oil- surplus gas to other customers. terminal would belong to
he said. units now are used for peaking capacity The company PowerGas Ltd, a
Local piped city gas supplier, City Gas while combined cycle units are for base- recently subsidiary of
Co, is a listed company that supplies load power generation.” announced it Singapore
600,000 households and a number of has signed a Power
commercial customers including hotels,
bakeries and others. However, the gas
Purchases
Senoko power station buys gas from
contract
with ‘BG’s tie-up with which,
in
Singapore is a
volume consumed is small as there is no Petronas of Malaysia through Peninsular
winter heating gas load in tropical Gas Pipeline while three companies
Singapore. import gas for sale.
Duke pointed out that less than a
decade ago in 2000, only Senoko power
SembCorp imports 450 mmcfd a year
from ConocoPhillips in Sumatra,
sign it could have
station burned gas as fuel which was
imported from Malaysia through the
Indonesia, consuming some in its own
power plant and selling the rest to
a big role in
Asian LNG spot
Peninsular Gas Pipeline grid. industry and other power plant
In seven years the ratio of gas/oil-fired operators.
generation has reversed from 20 percent Gas Supply Power Ltd, under state- turn,
gas 80 percent oil in 2000 to 80 percent
gas and 20 percent oil today.
owned Temasak Holdings, buys 420
mmcfd Natuna gas from Indonesia and ExxonMobil
trading’ is
wholly
a
“Singapore is enjoying the sells to power companies and industry. to supply gas to owned
environmental benefits of gas as they Keppel Gas, a subsidiary of Keppel its 150MW subsidiary of
swapped old inefficient oil-fired Energy, imports gas from Malaysia which cogeneration plant in its state-owned Temasak
generation units for efficient gas-fired it uses in its own power plant and sells first petrochemical complex. Keppel Holdings.
also announced it would sell gas to a And now PowerGas has brought
220MW cogeneration plant that in GdF as a terminal project
ExxonMobil is building for its second partner, in preference to other
petrochemical complex. companies that came forward from
According to EMA’s projections, South Korea and Japan
LNG demand will then grow by a forecast Singapore’s LNG terminal will be built
400,000 to 500,000 tonnes per year and on a 30.5 hectare offshore site in Jurong
reach 3 MTPA in 2018. in the west of Singapore where a land
By then the volume of LNG traded reclamation scheme is underway and due
from Singapore could also be sizable with for completion at the end of 2008.
BG and the merged GdF-Suez using the The site is being prepared by Jurong
Singapore LNG terminal for trading Town Corporation which has negotiated
activities. a long lease on the LNG terminal site for
“Singapore will be the only gas market 30 years or at least the planned design
in Asia with LNG and pipeline gas life of the terminal when built.
imports. Singapore could arbitrage The EPC contract is thought to be
between both supply sources depending on worth about $800 million and will include
demand elsewhere,” said one LNG trader. two full containment above-ground
“There is high demand in South Korea storage tanks.
in winter so BG could divert a cargo there Other facilities planned for the
and use more piped import gas in receiving terminal include a jetty
Singapore. In soft demand Atlantic equipped with LNG unloading and
summers BG can bring in extra cargos at reloading facilities for break bulk LNG
low price below pipeline gas cost. This which can be unloaded for storage and
allows both winter and summer plays then re-exported. Additional floating
and brings new dimension to the Asian storage facilities are unlikely to be used.
gas market,” he added. “The problem of floating storage is
that the boil off is lost while on shore the
Role as Hub boil off is captured and sold,” explained
“Singapore is expected to be a the industry source.
Subscribe now distribution hub for BG to Japan and “Reloading with LNG provides a cool
North Asia.” down for LNG vessels that may use dry
and get -30% till 30th September* Meanwhile, with the LNG aggregator dock in Singapore’s Keppel and
*terms and conditions apply contract recently awarded, attention is Sembawang shipyards. These shipyards
turning to the various contracts due to be do more LNG vessel dry docking than
subs@lngjournal.com awarded for the construction and anywhere in the world.”
operation of Singapore’s LNG import A second jetty would be needed after
Maritime Content Ltd, 213 Marsh Wall, London E14 9FJ, UK. terminal. the terminal throughput passes to a
Tel: +44 (0)20 7510 0015 Fax: +44 (0)20 7510 2344 wwwlngjournal.com The government announced in projected 6 MTPA as the terminal would
September 2007 that the LNG receiving be receiving 100 cargos a year.

p31-38:LNG 3 03/07/2008 12:30 Page 5
CARRIER SAFETY
ClassNK offers support system

for extended life of LNG carriers
Norio Yamamoto, Hirofumi Takano, Toshiro Koiwa, and Akio Usami, Nippon Kaiji Kyokai (ClassNK), Japan
LNG carriers are now entering a new era reliable estimates of potential risk levels,
of longer operational service lives. and the incorporation of an advanced risk
While consideration is being given to management approach.
designs and plans for the construction of The new service includes various
new ships with design lives significantly features that form the basis for a
longer than those of conventional ships, comprehensive approach incorporating
the industry also is seeking to keep the technologies with a wide range of
currently well-maintained existing fleet information sources to facilitate the
in extended service. development of in-service maintenance
The safe and stable operation of LNG plans customized to the needs of the
Figure 1: PrimeShip maintenance related technical services provided
carriers with such longer life spans individual ship.
by ClassNK, using the latest advanced strength assessment tool
requires that the integrity of the ship’s
hull structure and equipment be Technical services
maintained to a high level of safety, while ClassNK currently offers a broad range measurement data of one million points and fatigue strength of ship structures
minimizing the life cycle cost necessary of technical services related to the design or more, through the application of a based on direct calculations.
to keep the vessel in good operating and maintenance of ships. probabilistic corrosion model used to
condition. These services include various perform a statistical evaluation. PrimeShip CAP
Realizing an optimum balance types of hull strength and condition These strength assessments are PrimeShip-CAP is a survey and
between these two vital goals is a key assessment as well as related informa- conducted according to the design loads inspection service used to assess and
issue to the successful extension of LNG tion services. specified by design waves that are well certify the condition of the hull
service life. They comprise important components established based on extensive direct structures, machinery equipment, and
A rationally developed and of ClassNK’s PrimeShip integrated suite load analyses. cargo systems of a ship based on the
implemented maintenance plan is of applications and services aimed at Consequently, the assessed results are results of a detailed close up survey,
an essential component to realizing providing total ship life-cycle support. equivalent to the results determined strength evaluation, and fatigue
these goals. Notable among these services are based on direct load analysis. assessment.
To be effective, such a plan needs to be PrimeShip-HULL(DA/FA) (Direct The fatigue strength assessment Under PrimeShip-CAP, a careful
based on accurate monitoring of the Strength Analysis/ Fatigue Assessment), procedure comprised in PrimeShip-FA, a evaluation of the following items is
current state of deterioration of various PrimeShip-CAP (Condition Assessment component of PrimeShip-HULL(DA/FA), performed and a comprehensive
structures throughout the vessel, a Program), PrimeShip-TLA (Total Life is an integrated procedure that makes determination is made regarding the
reliable assessment of the residual life Assessment), and PrimeShip-HULLCare, iterated serial evaluations of loads, integrity and safety of the ship using
and strength of such structures and the an advanced maintenance information stresses, and fatigue strength. ratings based on how the overall results
ship as a whole, combined with a refined service. The relationship among these Since the results obtained correspond obtained measure against a progressive
inspection and survey scheme to keep the four services is shown in Figure 1. to past fatigue damage experience, a standard of set criteria. These items
ship in top operating condition. These four services in particular form reasonable fatigue assessment that include:
the foundation for the development of the corresponds to changes in design Past survey records, drawing
New system advanced ship maintenance support conditions and other factors is possible. examination, and results of a close up
ClassNK is currently developing a new service program, each aimed to help ship Fatigue damage in ship structures is survey and fatigue assessment
advanced ship maintenance support owners and managers ascertain and greatly influenced by changes in the Plate thickness measurements
service program which will result in the better manage various factors affecting structural mean stress that result from reports
practical realization of the PrimeShip the structural condition of their ships. repeated cyclical changes in the loading Evaluation of buckling strength and
Total Lifetime Ship Care concept. condition of the ship. hull girder strength taking the
This advanced program will assist PrimeShip-HULL Accordingly, a fatigue assessment corrosion condition of the subject
ship owners and managers more PrimeShip-HULL(DA/FA) (Direct method different from conventional structures into account
effectively and rationally deal with the Strength Analysis and Fatigue methods typically applied to land Condition assessment of the corrosion
age related factors such as fatigue and Assessment) is a technical service offered structures has been established by the protection system of the ship, and
corrosion that are major contributors to by ClassNK that provides the latest Society. Performance tests of onboard
the aging of ships. advanced strength assessment tools as This method takes into account the machinery, equipment, and cargo
This is accomplished through the set forth in the Society’s “Guidelines for effects of large changes in structural handling systems
application of new technologies and Direct Strength Analysis”, “Guidelines mean stress on fatigue strength that do Four levels are used to rate the ship
technical expertise to help clients develop for Fatigue Strength Assessment”, and not occur in land-based structures. structures and five levels to rate the
optimized maintenance plans based on “Guidelines for Ultimate Hull Girder Consequently, a reasonable condition of the coating (based on
rational risk assessments and life- cycle Strength”. assessment that corresponds to the ClassNK “Guidelines for Corrosion
cost assessments. The guidelines for PrimeShip- actual fatigue damage experienced Protection System”).
Of particular note is the application of HULL(DA/FA) establish reasonable and onboard ship has become possible. In this way, PrimeShip-CAP is used to
newly developed sensors to quantify practical values of corrosion additions for Thus, PrimeShip-Hull(DA/FA) is used assess the overall integrity of a ship’s
fatigue accumulation and coating each structural member based on a to conduct advanced assessments of hull based on a detailed in-service
deterioration, thereby enabling more detailed analysis of plate thickness yielding, buckling, ultimate strength, condition assessment.

p31-38:LNG 3 03/07/2008 12:30 Page 6
CARRIER SAFETY
Figure 2: The flow diagram of the ClassNK’s TLA process Figure 3: Schematic overview of the new advanced ship management
technical support service
The results of the CAP assessment are PrimeShip-HULLCare The advanced risk management Management service, HFMS, HCMS, and
used in the preparation of a repair and PrimeShip-HULLCare is an information service will incorporate the following MMS, will constitute a new class notation
maintenance plan that addresses the service that provides class survey data. elements: to supplement the existing PrimeShip
various problem areas indicated during The database, with prompt search (1 a Hull Fatigue Management System notations, respectively.
the assessment. facilities, can be readily accessed via the (HFMS) for measuring and managing The essential technology of the
Internet. the fatigue strength of hull structures advanced ship maintenance support
PrimeShip TLA The database contains information on (2) a Hull Corrosion Management service will consist of a new risk
PrimeShip-TLA is a technical service class service status, photos showing System (HCMS) for assessing and management system.
used to assess the residual life of a ship actual tank condition, plate thickness managing the corrosion of hull This risk management analysis
currently in service. measurement data, repair plans and structures including the maintenance approach will be based on highly reliable
In this service, an assessment of the related specifications, coating of coatings and determining the estimates of residual life that are made
fatigue integrity of the hull is performed maintenance records, and similar types strength of corroded structures, and by feeding back knowledge and the
taking into account the actual service of information essential to the good (3) a Machinery Management System results of actual condition monitoring of
experience of the ship to date. The maintenance of the vessel. (MMS) for managing the preventive the state of deterioration of the hull
process flow of the PrimeShip-TLA Consideration is also being given to maintenance of machinery equipment structures to the risk analysis process.
service is shown in Figure 2. how best to upgrade the system with through the application of in-service The risk management system will also
PrimeShip-TLA is a powerful tool that additional enhanced optional features condition monitoring and a risk- include the innovative application of
allows ship owners and managers to such as detailed survey and inspection matrix based assessment approach. enhanced construction monitoring
determine what structural, preventive data as well the interactive use of three- A conceptual schematic overview of the techniques to confirm and ensure that
maintenance, and other work needs to be dimensional ship structural models. new advanced ship maintenance support the quality of construction is kept at a
done to enable the ship to operate safely service is shown in Figure 3. Each high level.
and optimally for the remainder of its Lifetime ship care technical element in the Advanced Risk The flow of the basic concept of this life
planned service life. The principal concept of PrimeShip is the
This includes putting in place and Total Lifetime Ship Care approach taken
implementing reinforcement and renewal to provide comprehensive technical
plans, where necessary, for the hull and support throughout a ship’s service life.
all cargo tanks as well as for machinery, ClassNK is currently developing a new
electrical systems, and other equipment advanced ship maintenance support
onboard. service program applicable to LNG
These plans are based on the results carriers which makes the concept of
of a comprehensive assessment of the PrimeShip, Total Lifetime Ship Care,
ship’s integrity for the total remaining come true.
lifetime of the vessel, based on a The new advanced ship maintenance
comprehensive on-site condition support service is aimed at reducing the
assessment survey of all compartments risk and life- cycle costs of LNG carriers
and state-of-the-art fatigue analysis of all in service, and to supporting the optimal
critical areas of the ship. maintenance of ship structures and
Consequently, the optimal machinery equipment against aging
reinforcement plan can be developed and effects.
put in place by evaluating the possibility This new advanced ship maintenance
of crack damage occurring during support service will encompass a total,
planned future ship operations at areas comprehensive approach to ship care that
where fatigue damage is not yet evident integrates the current technical services
and taking suitable steps to prevent such noted above with an innovative Advanced Figure 4: Feedback flow of Advanced Risk Management based on Continuous
damage from occurring. Risk Management service. Condition Monitoring

p31-38:LNG 3 03/07/2008 12:30 Page 7
CARRIER SAFETY
estimation procedure is shown in Figure more effective support to the ship maintenance support service for and overhaul of machinery and
4. It is anticipated that the age related establishment of rational and optimum LNG carriers will facilitate: equipment, and
condition of a ship will come to vary maintenance management plans based on Optimum hull structure maintenance Optimized inspections and close up
from initial design projections due to a highly accurate assessment that both planning based on the residual surveys of hull structures as well as
differences between the design conditions reflects the actual condition of hull strength evaluation considering machinery and equipment.
and the actual operating conditions structures and machinery while also residual fatigue strength and actual ClassNK is confident that the
encountered by the ship after it enters taking the design and actual operating corrosion conditions, implementation of the systems and
service. conditions of the vessel into consideration. Optimum coating maintenance services described above will contribute
Therefore, it is essential that In this way, it is expected that the planning based on predicted paint significantly to the further improvement
information from actual condition more rational and strategic maintenance coating deterioration, of the safety and reliability of LNG
monitoring be fed back for proper risk approach made possible by the advanced Risk-based optimum maintenance carriers both now and in the future.
analysis to be performed.
This feedback makes it possible to more
Sponsors:
fully comprehend the current state of hull
integrity and to predict with much greater
precision the future transitions in
condition that are most likely to take place.
Consequently, an optimal
maintenance plan based on a thorough
understanding of the present condition of
the hull structures combined with
rational, highly accurate predictions of
projected future deterioration can be
established.
Suitable measures to maintain the
integrity of the ship to the expected levels
of safety can then be appropriately put in
place within the scope of the long-term
maintenance and service plan.
A major feature of this approach will
be a particular focus on determining the
actual state of fatigue and corrosion of
hull structures, which are essential
factors in the age related deterioration of
ships.
This will be achieved through the
application of newly developed
specialized sensors to quantify actual
fatigue accumulation and paint
deterioration.
The data obtained from these multiple,
strategically positioned fatigue damage
sensors and paint coating deterioration
sensors will help make more reliable
estimates of potential risk levels of
current and future fatigue damage and
corrosion possible.
This detailed data, in turn, will help
ship owners and managers to plan and
implement maintenance plans in an even
more rational, efficient and cost effective
manner.
The information obtained from the
various sources outlined above will then
be integrated with extensive data on the Contact:
ship contained in the PrimeShip- Rob Percival
HULLCare database on the design, CWC Associates Limited
construction, and inspection Tel: +44 20 7978 0078
maintenance of the vessel as the core of Fax: +44 20 7978 0099
the Integrated Information Management Email: rpercival@wgc2009.com
system currently in the final stages of Website: www.wgc200.com
development by ClassNK.
This approach is expected to provide

p31-38:LNG 3 03/07/2008 12:34 Page 8
p39-44:LNG 3 03/07/2008 12:36 Page 1
CARRIER FLEET
World LNG Carrier Fleet

LNG Capacity Owner Operator Builder Delivery Flag Power Cargo No. of Regular Exporter Charterer Contract
carrier m3 Date Plant System tanks Route
Abadi 135,000 Brunei STASCO Mitsubishi Jun-02 Brunei S Moss 5 Brunei-Japan Brunei LNG 2023
Gas Carriers Nagasaki
Al Aamriya 210,100 J5 Consortium K Line/ Daewoo Feb-08 Marshall I DRL GT NO 96 4 Qatar-Japan Qatargas
NYK Line
Al Areesh 151,700 Teekay LNG Teekay LNG Daewoo Jan-07 Qatar S GT NO 96 4 Ras Gas II Various 2032
Qatar-Europe
Al Biddah 135,275 J4 Consortium Mitsui Kawasaki Nov-99 Japan S Moss 5 Qatar-Japan Qatargas 2024
OSK Line Sakaide
Al Daayen 151,70 Teekay LNG Teekay LNG Daewoo Apr-07 Qatar S GT NO 96 4 RasGas II Various 2032
Qatar Europe
Al Deebel 145,000 Peninsular LNG Mitsui OSK Samsung Dec-05 Bahamas S TZ Mk. III 4 Qatar-Italy Qatargas RasGas II 2031
Line
Al Gattara 216,200 OSG/Nakilat Hyundai Oct-07 Marshall I DRL TZ Mk. III 4 Qatar-UK/Var Qatargas II 2032
Al Ghariya 210,100 ProNav ProNav Daewoo Feb-08 Germany DRL GT No. 96 4 Qatar-Atl’c Basin Qatargas
Al Gharaffa 216,200 OSG/Nakilat OSG Hyundai Jan-08 Marshall I. DRL TZ Mk. III 4
Al Hamla 216,000 OSG OSG/Nakilat Samsung Feb-08 Marshall I. DRL TZ Mk. III 4 Qatar/UK/Var QatarGas
Al Hamra 137,000 National Gas National Gas Kvaerner- Jan-97 Liberia S Moss 4 Abu Dhabi- ADGAS Natural Gas 2022
Shipping Shipping Masa Japan Shipping
Al Huwaila 217,000 Teekay Teekay Samsung May-08 Bahamas DRL TZ Mk. III 4 Qatar/various RasGas III
Al Jasra 137,100 J4 Consortium NYK Line Mitsubishi Jul-00 Japan S Moss 5 Qatar-Japan Qatargas 2025
Nagasaki
Al Jassasiya 145,700 Maran-Nakilat Maran Daewoo May-07 Greece S GT No 96 4 Qatar-Various RasGas 2027
Al Kharsaah 217,000 Teekay Teekay Samsung May-08 Bahamas DRL TZ Mk. III 4 Qatar/various RasGas III
Al Khaznah 135,500 National Gas National Gas Mitsui Jun-94 Liberia S Moss 5 Abu Dhabi- ADGAS Natural Gas 2020
Shipping Shipping Chiba Japan Shipping
Al Khor 137,350 J4 Consortium NYK Line Mitsubishi Dec-96 Japan S Moss 5 Qatar-Japan Qatargas 2022
Nagasaki
Al Mafyar 216,200 OSG/Nakilat OSG/Nakilat Hyundai Oct-07 Marshall I DRL TZ Mk. III 4 Qatar-UK Qatargas II 2032
-Various
Al Marrouna 151,700 Teekay Teekay Daewoo Nov-07 Bahamas S GT NO 96 Ras Gas I Qatar-Europe 2031
Al Rayyan 135,360 J4 Consortium K Line Kawasaki Mar-97 Japan S Moss 5 Qatar-Japan Qatargas 2022
Sakaide
Al Ruwais 210,100 ProNav ProNav Daewoo Nov-07 Germany DRL GT NO 96 4 Qatar-UK Qatargas II 2032
Al Safliya 210,100 ProNav ProNav Daewoo Dec-07 Germany DRL GT NO 96 4 Qatar-UK Qatargas II 2032
Al Thakhira 145,000 Peninsular LNG K Line Samsung Sep-05 Luxemb'g S TZ Mk. III 4 Qatar-Italy Qatargas RasGas II 2031
Al Thumama 216,000 J5 Consortium MOL Hyundai April-08 Japan DRL TZ Mk. III 4 Qatar/Japan Rasgas 2028
Al Wajbah 137,350 J4 Consortium Mitsui OSK Mitsubishi Jun-97 Japan S Moss 5 Qatar-Japan Qatargas 2022
Line Nagasaki
Al Wakrah 135,360 J4 Consortium Mitsui OSK Kawasaki Dec-98 Japan S Moss 5 Qatar-Japan Qatargas 2022
Line Sakaide
Al Zhubarah 137,570 J4 Consortium Mitsui OSK Mitsui Chiba Dec-96 Japan S Moss 5 Qatar-Japan Qatargas 2022
Line
Alto Acrux 147,000 LNG Marine NYK Line Mitsubishi Mar-08 S Moss 4 Various/Japan
Transport
Aman Bintulu 18,928 Perbadanan/ Perbadanan NKK Tsu Oct-93 Malaysia S TZ Mk. III 3 Malaysia- Petronas MLNG 2013
NYK Line NSL Japan
Aman Hakata 18,800 Perbadanan/ Perbadanan NKK Tsu Nov-98 Malaysia S TZ Mk. III 3 Malaysia- Petronas MLNG II 2017
NYK Line NSL Japan
Aman Sendai 18,928 Perbadanan/ Perbadanan NKK Tsu May-97 Malaysia S TZ Mk. III 3 Malaysia- Petronas MLNG II 2017
NYK Line NSL Japan
Annabella 35,500 Chemikalien Chemikalien La Seyne May-75 Liberia S GT NO 82 5 Libya-Spain Sirte Oil Enagas 2004
Seetransport Seetransport
Arctic 140,000 K Line K Line Mitsui Jan-06 Bahamas S Moss 4 Norway-US Statoil Suez LNG 2036
Discoverer Chiba
Arctic Lady 147,200 MOL/ Hoegh LNG Mitsubishi Apr-86 Norway S Moss 4 Norway-U.S. Petronas MLNG II 2017
Hoegh LNG Nagasaki
Arctic 147,200 MOL/ Hoegh LNG Mitsubishi Jan-06 Norway S Moss 4 Norway-US Suez LNG Norway-US 2035
Princess Hoegh LNG Nagasaki
Arctic Sun 89,880 Arctic LNG Marathon IHI Chita Dec-93 Liberia S IHI SPB 4 Alaska- ConocoPhillips ConocoPhillips 2014
Shipping Japan /Marathon /Marathon
Arctic 140,000 K Line K Line Kawasaki Jul-06 Bahamas S Moss 4 Norway- Statoil Snohvit Sellers 2026
Voyager Spain-US
Bachir 129,750 SNTM-Hyproc SNTM- La Seyne Feb-79 Algeria S GT NO 85 5 Algeria- Sonatrach BOTAS 2015
Chihani Hyproc Turkey
Banshu Maru 125,542 J3 Consortium K Line Mitsubishi Oct-83 Japan S Moss 5 Indonesia Pertamina 2011
Nagasaki -Japan
Bebatic 75,060 Brunei Shell STASCO Atlantique Oct-72 Brunei S TZ Mk. I 6 Brunei-Japan Brunei LNG 2013
Tankers
Bekalang 75,080 Brunei Shell STASCO Atlantique Jun-73 Brunei S TZ Mk. I 6 Brunei-Japan Brunei LNG 2013
Tankers

p39-44:LNG 3 03/07/2008 12:36 Page 2
CARRIER FLEET
Bekulan 75,070 Brunei Shell STASCO Atlantique Dec-73 Brunei S TZ Mk. I 6 Brunei-Japan Brunei LNG 2013
Tankers
Belais 75,040 Brunei Shell STASCO Atlantique Jul-74 Brunei S TZ Mk. I 6 Brunei-Japan Brunei LNG 2013
Tankers
Belanak 75,000 Brunei Shell STASCO La Ciotat Jul-75 Brunei S TZ Mk. I 5 Brunei-Japan Brunei LNG 2013
Tankers
Berge Arzew 138,088 BW Gas BW Gas Daewoo Jul-04 Norway S GT NO 96 4 Exports from Sonatrach 2030
Algeria
Berge Boston 138,059 BW Gas BW Gas Daewoo Jan-03 Norway S GT NO 96 4 Atlantic LNG Suez LNG 2032
Berge Everett 138,028 BW Gas BW Gas Daewoo Jun-03 Norway S GT NO 96 4 Atlantic LNG Suez LNG 2033
Bilbao Knutsen 138,000 Knutsen/ Knutsen/ IZAR Jan-04 Spain S GT NO 96 4 Trinidad- Atlantic Repsol 2024
Marpetrol Marpetrol Sestao Spain LNG
Bilis 77,730 Brunei Shell STASCO La Seyne Mar-75 Brunei S GT NO 82 5 Brunei-Japan Brunei LNG 2013
Tankers
Bishu Maru 125,000 J3 Consortium K Line Kawasaki Aug-83 Japan S Moss 5 Ind’sia-Japan Pertamina 2011
Sakaide
Bluesky 145,700 Bluesky LNG Corp TMT Daewoo Jan-06 Panama S GT No 96 4 M/East-Taiwan
British Emerald 155,000 BP BP Hyundai Jun-07 UK DFDE TZ Mk. III 4 Ind’sia-Japan Tangguh LNG Pertamina 2033
British Innovator 138,200 BP Shipping BP Shipping Samsung Jul-03 Isle of Man S TZ Mk. III 4
British Merchant 138,000 BP Shipping BP Shipping Samsung Apr-03 Isle of Man S TZ Mk. III 4 Engas 2007
British Ruby 155,000 BP Shipping BP Hyundai Jan-08 U.K. DFDE TZ Mk. III 4 Various
British Trader 138,000 BP Shipping BP Shipping Samsung Dec-02 Isle of Man S TZ Mk. III 4 Engas
Broog 135,466 J4 Consortium NYK Line Mitsui Chiba May-98 Japan S Moss 5 Qatar-Japan Qatargas 2023
Bubuk 77,670 Brunei Shell Tkrs STASCO La Seyne Oct-75 Brunei S GT NO 82 5 Brunei-Japan Brunei LNG 2013
Cadiz Knutsen 138,826 Knutsen/ Knutsen/ IZAR Jun-04 Spain S GT NO 96 4 Egypt-Spain Engas Union Fenosa 2030
Marpetrol Marpetrol Puerto Real
Castillo 138,000 Elcano Elcano IZAR Nov-03 Spain S GT NO 96 4 Algeria-Spain Sonatrach Enagas 2007
de Villalba Puerto Real
Catalunya 138,000 Teekay LNG Teekay LNG IZAR Mar-03 Liberia S GT NO 96 4 Trinidad- Atlantic Enagas 2024
Spirit Partners Partners Sestao Spain LNG
Celestine River 145,000 KLNG KLNG Kawasaki Dec-07 S Moss Various-US Cheniere 2017
Century 29,588 BW Gas BW Gas Moss Moss Dec-74 Norway D Moss 4 Algeria-Greece Sonatrach DEPA 2010
Cheikh El Mokrani 75,500 Med LNG Corp. Hyproc/MOL June-07 Liberia S TZ Mk. III 4 Intra-Med Sonatrach 2032
Cinderella 25,500 Taiwan Marine Bluesky LNG Le Trait Jun-65 St. Vincent S Worms 7 Libya-Spain Sirte Oil Enagas 2004
Clean Energy 150,000 Pegasus Shiph’d Dynagas Hyundai Mar-07 Marshall Is. S TZ Mk. III 4 Available
Clean Force 150,000 Seacrown Mariti Dynagas Hyundai Jan-08 Marshall I. S TZ Mk. III 4 Various
Clean Power 150,000 Lance Shipping Dynagas Hyundai Oct-07 Marshall Is. S TZ Mk. III 4 Available
Dapeng Sun 147,000 China Ships China Ships Hudong Jul-07 China S GT NO 96 4 Aus-China Woodside Guangdong LNG 2033
Energy
Descartes 50,000 Messigaz Gazocean Atlantique France S TZ Mk. I 6 Algeria-France Sonatrach GdF 2013
Dewa Maru 125,000 J3 Consortium K Line Mitsubishi Jul-84 Japan S Moss 5 Indonesia Pertamina Tepco 2005
Nagasaki -Japan
Disha 136,000 Petronet LNG Mitsui Daewoo Jan-04 Malta S GT NO 96 4 Qatar-India Qatargas Petronet 2029
Ltd. OSK Line
Doha 137,350 J4 Consortium NYK Line Mitsubishi Jun-99 Japan S Moss 5 Qatar-Japan Qatargas 2024
Nagasaki
Duhail 210,100 ProNav ProNav Daewoo Jan-08 Germany DRL GT NO 96 4-
Dukhan 135,000 J4 Consortium Mitsui Mitsui Oct-04 Japan S Moss 4 Qatar-Spain Qatargas 2024
OSK Line Chiba
Dwiputra 127,385 Humpuss Humolco Mitsubishi Mar-94 Bahamas S Moss 4 Indonesia Pertamina 2010
Consortium Nagasaki -Japan
Echigo Maru 125,570 J3 Consortium NYK Line Mitsubishi Aug-83 Japan S Moss 5 Indonesia Pertamina Tepco 2005
Nagasaki -Japan
Edouard L.D. 129,300 Dreyfus/ Louis Dunkerque Dec-77 France S GT NO 85 5 Algeria- Sonatrach GdF 2013
Gaz de France Dreyfus France
Ejnan 145,000 4J NYK Samsung Jan-07 Luxemb’g S TZ Mk. III RasGas 2032
Ekaputra 136,400 Humpuss Humolco Mitsubishi Jan-90 Liberia S Moss 5 Indonesia Pertamina CPC 2014
Consortium Nagasaki -Taiwan
Energy 145,000 Tokyo LNG Mitsui Kawasaki Mar-05 Japan S Moss 4 Australia Darwin Togas 2025
Advance Tankers OSK Line Sakaide -Japan
Energy 147,600 Tokyo LNG Mitsui Kawasaki Sep-03 Japan S Moss 4 Australia Darwin Togas 2025
Frontier Tankers OSK Line Sakaide
Energy 147,000 Tokyo LNG Tankers Kawasaki May-08 Japan S Moss 4 Australia/var 2025
Navigator MOL Sakaide -Japan
Energy 145,000 Mitsui OSK Line Mitsui Kawasaki NOV-06 Japan S Moss 4 Indonesia Bayu Undan LNG 2026
Progress OSK Line -Japan
Excalibur 138,200 Exmar/ Exmar Daewoo Oct-02 Luxemb'g S GT NO 96 4
Excelerate
Excel 138,106 Exmar/ Exmar Daewoo Sep-03 Belgium S GT NO 96 4 Exports Oman Gas 2009
Mitsui OSK Line from Oman
Excelerate 138,000 Exmar/Excelerate Exmar Daewoo Oct-06 Belgium S GT NO 96 4 Various Various
Excellence 138,000 GKFF Ltd. Exmar Daewoo May-05 Luxemb'g S GT NO 96 4 Various Excelerate 2025
Energy
Excelsior 138,000 Exmar Exmar Daewoo Jan-05 Luxemb'g S GT NO 96 4
Explorer 150,900 Exmar/Excelerate Exmar Daewoo Mar-08 Belgium S GT NO 96 4 Excelerate Excelerate

p39-44:LNG 3 03/07/2008 12:36 Page 3
CARRIER FLEET
Fuwairit 138,000 Peninsular LNG Mitsui Samsung Jan-04 Luxemb'g S TZ Mk. III 4 Qatar-Italy RasGas II 2029
OSK Line
Galea 134,425 Shell Shipping STASCO Mitsubishi Oct-02 Singapore S Moss 5 Shell
Nagasaki
Galeomma 126,540 Shell Shipping STASCO Newport Dec-78 Singapore S TZ Mk. I 6 Oman-Spain Oman Iberdrola 2007
News
Galicia Spirit 140,620 Teekay LNG Teekay LNG Daewoo Jul-04 Liberia S GT NO 96 4 Eqypt-Spain Engas Union Fenosa 2034
Partners Partners
Gaselys 153,500 GdF/NYK NYK Line Atlantique Mar-07 France DFDE CS 1 4 Egypt-France Engas Gaz de France 2027
Gaz de France 74,000 Gaz de France Gazocean Chantiers Dec-06 France DFDE CS1 4 Algeria-France Sonatrach Gaz de France 2013
Energy d’Atlantique
Gallina 134,425 Shell Shipping STASCO Mitsubishi Oct-02 Singapore S Moss 5 Shell
Nagasaki
Gemmata 138,100 Shell Shipping STASCO Mitsubishi Mar-04 Singapore S Moss 5 Shell
Nagasaki
Ghasha 137,510 National Gas National Gas Mitsui Jun-95 Liberia S Moss 5 Abu Dhabi- ADGAS Natural Gas 2021
Shipping Shipping Chiba Japan Shipping
Gimi 126,277 Golar LNG Golar LNG Moss Dec-76 UK S Moss 6 Trinidad-U.S. Atlantic BG 2020
Stavanger LNG
Golar Freeze 125,850 Golar LNG Golar LNG HDW Feb-77 UK S Moss 5 Trinidad-U.S. Atlantic LNG BG 2008
Golar Mazo 135,225 Golar LNG/ Golar LNG Mitsubishi Jan-00 Liberia S Moss 5 Indonesia Pertamina CPC 2027
Chinese Pet. Nagasaki -Taiwan
Golar Spirit 129,000 Golar LNG Golar LNG Kawasaki Sep-81 UK S Moss 5 Indonesia Pertamina Kogas 2008
Sakaide -Korea
Golar Winter 138,250 Golar LNG Golar LNG Daewoo Apr-04 Norway S GT NO 96 4
Grace Acacia 150,000 Algaet Shipping NYK Line Hyundai Jan 07 Japan S TK MK III 4 Various
Grace Barleria 150,000 Swallowtail Ship NYK Line Hyundai Oct-07 Japan S TZ Mk. III 4 Available
Grace Cosmos 150,000 AGH Shipping NYK Line Hyundai Mar-08 Japan S TZ Mk. III 4 Various/cadet training
Gracilis 138,830 Golar LNG Golar LNG Hyundai Jan-05 Bermuda S TZ Mk. III 4 Shell 2011
Granatina 140,645 Shell Shipping STASCO Daewoo Dec-03 Singapore S GT NO 96 4 Shell
Grand Aniva 147,200 Sovcomflot/NYK NYK Line Mitsubishi Jan-08 Japan S Mos 4
Grand Elena 147,200 Sovcomflot/NYK NYK Line Mitsubishi Oct-07 Japan S Moss 4
Grandis 145,700 Golar LNG Golar LNG Daewoo Jan-06 UK S GT NO 96 4 Shell 2011
Hanjin Muscat 138,200 Hanjin Shipping Hanjin Line Hanjin Jul-99 Panama S GT NO 96 4 Oman-Korea Oman Gas Kogas 2019
Hanjin Pyeong 130,600 Hanjin Shipping Hanjin Line Hanjin Sep-95 Panama S GT NO 96 4 Indonesia Pertamina Kogas 2016
Taek -Korea
Hanjin Ras Laffan 138,214 Hanjin Shipping Hanjin Line Hanjin Jul-00 Panama S GT NO 96 4 Qatar-Korea QatarGas Kogas 2020
Hanjin Sur 138,333 Hanjin Shipping Hanjin Line Hanjin Jan-00 Panama S GT NO 96 4 Oman-Korea Oman Gas Kogas 2020
Hassi R'Mel 40,850 SNTM-Hyproc SNTM- La Seyne Jan-71 Algeria S GT NO 82 6 Various Sonatrach 2013
Hyproc
Hilli 126,227 Golar LNG Golar LNG Moss Dec-75 UK S Moss 6 Trinidad-U.S. Atlantic LNG BG 2023
Stavanger
Hispania 140,500 Teekay Teekay LNG Daewoo Sep-02 Spain S GT NO 96 4 Trinidad-U.S. Atlantic LNG Repsol 2033
Spirit LNG Partners Partners
Hoegh 87,600 Hoegh LNG Hoegh LNG Moss Nov-74 Norway S Moss 5 Trinidad-U.S. Atlantic LNGSuez 2018
Galleon Stavanger
Hoegh 125,820 Hoegh LNG Hoegh LNG HDW Oct-77 Norway S Moss 5 Indonesia Pertamina Kogas 2008
Gandria -Korea
Hyundai 135,000 Hyundai MM Hyundai MM Hyundai Mar-00 Panama S Moss 4 Oman-Korea Oman Gas Kogas 2020
Hyundai 135,000 Hyundai MM Hyundai MM Hyundai Jan-00 Panama S Moss 4 Qatar-Korea RasGas Kogas 2020
Cosmopia
Hyundai 125,000 Hyundai MM Hyundai MM Hyundai Nov-96 Panama S Moss 4 Indonesia Pertamina Kogas 2017
Greenpia -Korea
Hyundai 135,000 Hyundai MM Hyundai MM Hyundai Jul-00 Panama S Moss 4 Oman-Korea Oman Gas Kogas 2020
Hyundai 135,000 Hyundai MM Hyundai MM Hyundai Jul-00 Panama S Moss 4 Qatar-Korea RasGas Kogas 2019
Technopia
Hyundai 125,182 Hyundai MM Hyundai MM Hyundai Jun-94 Panama S Moss 4 Indonesia Pertamina Kogas 2015
Utopia -Korea
Iberica 138,000 Knutsen OAS Knutsen Daewoo Aug-06 Norway S GT 96 4 Qatar-various various Repsol/ 2009
Knutsen OAS Gas Natural
Ibra LNG 147,100 Oman Gas Samsung Jun-06 Panama S TK Mk. III 4 Oman-Japan Oman LNG
Ibri LNG 145,000 Oman Gas Mitsubishi Jul-06 Panama S TK Mk. III 4 Oman-Japan Oman LNG
Isabella 35,500 Chemikalien Chemikalien La Seyne Apr-75 Liberia S GT NO 82 5 Libya-Spain Sirte Oil Enagas 2004
Seetransport Seetransport
Ish 137,540 National Gas National Gas Mitsubishi Nov-95 Liberia S Moss 5 Abu Dhabi ADGAS Natural Gas 2019
Shipping Shipping Nagasaki -Japan Shipping
K Acacia 138,017 Korea Line Korea Line Daewoo Jan-00 Panama S GT NO 96 4 Oman-Korea Oman Gas Kogas 2020
K Freesia 135,256 Korea Line Korea Line Daewoo Jun-00 Panama S GT NO 96 4 Qatar-Korea RasGas Kogas 2020
Kayoh Maru 1,517 Daiichi Tankers Daiichi Imamura Jan-88 Japan Cylinders 2 Japanese
Tankers Domestic Trade
Khannur 126,360 Golar LNG Golar LNG Moss Jul-77 UK S Moss 6 Qatar-Spain Qatargas BG 2019
Stavanger
Kotawaka 125,200 J3 Consortium NYK Line Kawasaki Jan-84 Japan S Moss 5 Australia Darwin TEPCO 2024
Maru Sakaide -Japan
Laieta 40,000 Auxiliar Anglo-East- Astano May-70 Panama S Esso 4 Algeria-Spain Sonatrach Enagas 2007
Maritima ern Mgmt

p39-44:LNG 3 03/07/2008 12:36 Page 4
CARRIER FLEET
Lala Fatma 145,000 Algeria Nippon Hyproc/ Kawasaki Dec-04 Japan S Moss 4 Exports from Sonatrach Various 2030
N'Soumer Gas MOL Sakaide Algeria
Larbi Ben 129,750 SNTM-Hyproc SNTM- La Seyne Jun-77 Algeria S GT NO 85 5 Algeria- Sonatrach BOTAS 2014
M'Hidi Hyproc Turkey
LNG Abuja 126,530 Bonny Gas Anglo-East- GD Quincy Sep-80 Bahamas S Moss 5 Nigeria-Spain/ Nigeria LNG Enagas/ 2019
Transport ern Mgmt France/Turkey GdF/BOTAS
LNG Adamawa 141,000 Bonny Gas Anglo-East- Hyundai Jun-05 Bermuda S Moss 4 Nigeria-Europe
Transport ern Mgmt
LNG Akwa Ibom 141,000 Bonny Gas STASCO Hyundai Nov-04 Bermuda S Moss 4 Nigeria-Europe 2024
Transport
LNG Aquarius 126,300 MOL/LNG ProNav . GD Quincy Jun-77 Marshall I. S Moss 5
Japan Ship Mgmt
LNG Aries 126,300 MOL/LNG ProNav . GD Quincy Dec-77 Marshall I. S Moss 5
Japan Ship Mgnt
LNG Bayelsa 137,500 Bonny Gas STASCO Hyundai Feb-03 Bermuda S Moss 4 Exports from Nigeria LNG 2019
Transport Nigeria
LNG Benue 145,700 BW Gas BW Gas Daewoo Mar-06 Bermuda S GT NO 96 4 Exports from Nigeria LNG Various 2026
Nigeria
LNG Bonny 133,000 Bonny Gas STASCO Kockums Dec-81 Bermuda S GT NO 88 5 Nigeria-Spain/ Nigeria LNG Enagas/ 2019
Transport France/Turkey GdF/BOTAS
LNG Borno 149,600 NYK Line NYK Line Samsung Aug-07 Japan S TZ Mk. III 4 Nigeria-Various Nigeria LNG 2027
LNG Capricorn 126,300 MOL/LNG Japan ProNav Ship GD Quincy Jun-78 Marshall I. S Moss 5 Indonesia Pertamina 2010
Mgmt. -Japan
LNG Cross 141,000 Bonny Gas Anglo-East- Hyundai Sep-05 Bermuda S Moss 4 Nigeria-Europe
River Transport ern Mgmt
LNG Delta 126,540 Bonny Gas STASCO Newport May-78 Isle of Man S TZ Mk. I 6 Nigeria-Spain/ Nigeria LNG Enagas/ 2023
Transport News France/Turkey GdF/BOTAS
LNG Dream 145,000 Osaka Gas NYK Line Kawasaki Sep-06 Japan S Moss 4 Australia-Japan Woodside Energy
LNG Edo 126,530 Bonny Gas Anglo-East- GD Quincy May-80 Bahamas S Moss 5 Nigeria-Spain/ Nigeria LNG Enagas/ 2019
Transport ern Mgmt France/Turkey GdF/BOTAS
LNG Elba 41,000 ENI ENI Italcantieri Jan-70 Italy S Esso 4 Algeria- Sonatrach GdF 2013
Genoa France
LNG Enugu 145,000 BW Gas BW Gas Daewoo Oct-05 Burma S GT NO 96 4 Exports from Nigeria LNG Various 2026
Nigeria
LNG Fimina 133,000 Bonny Gas STASCO Kockums Jan-84 Bermuda S GT NO 88 5 Nigeria-Spain/ Nigeria LNG Enagas/ 2019
LNG Flora 127,700 J3 Consortium NYK Line Kawasaki Mar-93 Japan S Moss 4 Indonesia Pertamina Osaka Gas 2014
Sakaide -Japan
LNG Gemini 126,300 MOL/LNG ProNav GD Quincy Sep-78 Marshall S Moss 5 Indonesia Pertamina 2010
Japan Ship Mgmt. Islands -Japan
LNG Jamal 135,330 Osaka Gas/ NYK Line Mitsubishi Oct-00 Japan S Moss 5 Oman- Oman Gas Osaka Gas 2024
J3 Consortium Nagasaki Japan
LNG Kano 148,471 BW Gas BW Gas Daewoo Jan-07 Bermuda S GT No. 96 4 Nigeria-Various NLNG 2027
LNG Lagos 122,000 Bonny Gas STASCO Atlantique Bermuda S GT NO 85 6 Nigeria-Spain/ Nigeria LNG Enagas/ 2019
LNG Leo 126,400MOL/LNG ProNav GD Quincy Dec-78 Marshall S Moss 5 Indonesia Pertamina 2010
LNG Lerici 65,000 ENI ENI Italcantieri Mar-98 Italy S GT NO 96 4 Algeria-Italy Sonatrach ENI 2021
Sestri
LNG Libra 126,400 MOL/LNG ProNav GD Quincy Apr-79 Marshall S Moss 5 Indonesia 2010
LNG Lokoja 148,300BW Gas BW Gas Daewoo Dec-06 Bermuda S GT No. 96 4 Atlantic Basin Nigeria LNG Various 2027
LNG Ogun NYK Line NYK Line Samsung Aug-07 Japan S TZ Mk. III 4 Nigeria-Various Nigeria LNG 2027
LNG Ondo 148,300 BW Gas BW Gas Daewoo Sep-07 Bermuda S GT NO 96 4 Nigeria-Various Nigeria LNG 2027
LNG Oyo 140,500 BW Gas BW Gas Daewoo Dec-05 Bermuda S GT NO 96 4 Exports from Nigeria LNG Various 2026
Nigeria
LNG Palmaria 41,000 ENI ENI Italcantieri Jun-69 Italy S Esso 4 Algeria-Italy Sonatrach ENI 2017
Genoa
LNG Pioneer 138,000 Mitsui OSK Mitsui OSK Daewoo Jul-05 Luxemb'g S GT NO 96 4 Exports from Idku BP 2008
Line Line Egypt
LNG Port 122,000 Bonny Gas STASCO Atlantique Sep-77 Bermuda S GT NO 85 6 Nigeria-Spain/ Nigeria LNG Enagas/ 2019
Harcourt Transport France/Turkey GdF/BOTAS
LNG 65,000 ENI ENI Italcantieri Jun-96 Italy S GT NO 96 4 Algeria-Italy Sonatrach ENI 2017
Portovenere Sestri
LNG River 141,000 Bonny Gas Anglo- Hyundai May-06 Bermuda S Moss 4 Nigeria-Europe
Niger Transport Eastern Mgmt.
LNG River 145,910 BW Gas BW Gas Daewoo Nov-04 Bermuda S GT NO 96 4 Exports from Nigeria LNG Various 2026
Orashi Nigeria
LNG Rivers 137,231 Bonny Gas STASCO Hyundai Jun-02 Bermuda S Moss 4 Nigeria-Spain Nigeria LNG Enagas 2019
Transport
LNG Sokoto 137,231 Bonny Gas STASCO Hyundai Aug-02 Bermuda S Moss 4 Nigeria-France Nigeria LNG GdF 2019
Transport
LNG Taurus 126,300 MOL/LNG ProNav GD Quincy Aug-79 Marshall S Moss 5 Indonesia 2010
Japan Ship Mgmt. Islands - Japan
LNG Vesta 127,547 Tokyo Gas Mitsui OSK Mitsubishi Jun-94 Japan S Moss 4 Indonesia Pertamina Togas 2014
Consortium Line Nagasaki - Japan

p39-44:LNG 3 03/07/2008 12:36 Page 5
CARRIER FLEET
LNG Virgo 126,400 MOL/LNG ProNav GD Quincy Dec-79 Marshall S Moss 5 Indonesia Pertamina 2010
Japan Ship Mgmt. Islands - Japan
Lusail 138,000 Peninsular LNG K Line Samsung May-05 Luxemb'g S TZ Mk. III 4 Qatar-Italy Qatar RasGas II 2030
Madrid Spirit 138,000 Teekay LNG Teekay LNG IZAR Jan-05 Spain S GT NO 96 4 Egypt-Spain Engas Repsol 2035
Partners Partners Puerto Real
Maersk Marib 165,000 AP Moller Maersk Gas Samsung May-08 Denmark DFDE TZ Mk. III 4 Yemen/Atlantic Basin Yemen LNG 2028
Maersk Methane 165,000 AP Moller Maersk Gas Samsung Mar-08 Denmark DFDE TZ Mk. III 4 Various
Maersk Qatar 145,000 A. P. Moller Maersk Gas Samsung Apr-06 Denmark S TZ Mk. III 4 Qatar-Italy Qatar RasGas II 2031
Maersk Ras 138,270 A. P. Moller Maersk Gas Samsung Mar-04 Denmark S TZ Mk. III 4 Qatar-Italy RasGas II Italy 2029
Laffan
Maran Gas 145,000 Kristen Maran Gas Daewoo Jul-05 Bermuda S GT NO 96 4 Qatar-Europe Qatar RasGas II 2030
Asclepius Navigation Maritime
Maran Gas 145,700 Maran Maran Daewoo Sep-07 Greece S GT NO 96 4 Qatar-Europe Rasgas II 2032
Coronis
Matthew 126,540 Suez LNG Hoegh LNG Newport Jun-79 Bahamas S TZ Mk. I 6 Trinidad-U.S Atlantic LNG Suez 2019
Shiping News
Methane Alison 145,000 BG BG Samsung Aug-07 Bermuda S TZ III 4 Eq.Guinea-US Eq.Guinea LNG 2027
Victoria
Methane Heather145,000 BG BG Samsung Jul-07 Bermuda S Tz Mk. III 4 Eq.Guinea-US Eq.Guinea LNG 2027
Sally
Methane Jane 145,000 British Gas Ceres Samsung Jun-06 Bermuda S TZ Mk. III 4 Egypt-US Engas BG 2026
Elizabeth Hellenic
Methane Kari 138,200 BG BG Samsung Jun-04 Bermuda S TZ Mk. III 4
Elin International International
Methane 145,000 BG BG Samsung Feb-07 Bermuda S TZ Mk. III 4 Marathon Oil BG Eq.Guinea 2027
Lake Charles -Atlantic Basin
Methane 145,000 Australian Bank Ceres Samsung Aug-06 Bermuda S TZ Mk. III 4 Various Engas MSL 2026
Lydon Volney -Leased to BG Hellenic
Methane Nile 145,000 BG BG Samsung Dec-07 Bermuda S TZ Mk. III 4 Egypt - Engas 2026
Eagle Atlantic Basi
Methane Princess138,000 Golar LNG Golar LNG Daewoo Aug-03 UK S GT NO 96 4 Trinidad-Spain Atlantic LNG BG 2034
Methane Rita 145,000 British Gas Ceres Samsung Mar-06 Bermuda S TZ Mk. III 4 Egypt-US Engas BG 2026
Andre Hellenic
Methane Shirley 145,000 BG Eagle Gas Samsung Apr-07 Bermuda S TZ Mk. III 4 Equatorial Marathon Oil BG 2027
Elizabeth Guinea - US
Methania 131,230 Distrigas Exmar Boelwerf Oct-78 Belgium S GT NO 85 5 Algeria-Spain Sonatrach Suez 2015
Mostefa Ben 125,260 SNTM-Hyproc SNTM- La Ciotat Aug-76 Algeria S TZ Mk. I 6 Algeria-USA Sonatrach BOTAS 2018
Boulaid Hyproc
Mourad 126,130 SNTM-Hyproc SNTM- Atlantique Jul-80 Algeria S GT NO 85 5 Algeria- Sonatrach Suez 2006
Didouche Hyproc Belgium
Mraweh 137,000 National Gas National Gas Kvaerner- Jun-96 Liberia S Moss 4 Abu Dhabi ADGAS Natural Gas 2021
Shipping Shipping Masa -Japan Shipping
Mubaraz 137,000 National Gas National Gas Kvaerner- Jan-96 Liberia S Moss 4 Abu Dhabi Livorno recei-
Shipping Shipping Masa -Japan ving facility
Muscat LNG 149,170 Oman Gas Mitsui OSK Kawasaki Mar-04 Japan S Moss 4 Oman- Oman Gas Shell 2007
/MOL Line Sakaide Spain
Neo Energy 150,000 Tsakos Tsakos Hyundai Feb-07 Liberia S Moss 4 Available
Nizwah LNG 145,000 Oryx LNG Mitsui OSK Kawasaki Dec-05 Japan S Moss 4 Oman- Oman Gas Osaka Gas 2026
Carriers Line Sakaide Japan
Norman Lady 87,600 Hoegh LNG Hoegh LNG Moss Jan-73 Norway S Moss 5 Trinidad- Atlantic LNG Enagas 2020
Stavanger Spain
North Pioneer 2,500 Japan Liquid Japan Liquid Kawasaki Dec-05 Japan D Cylinders 2 Japanese
Gas Gas Kobe Domestic Trade
Northwest 127,525 Australia LNG ALSOC Mitsubishi Jun-89 Australia S Moss 4 Australia- NWS IGTC 2008
Sanderling Nagasaki Japan
Northwest 127,500 Australia LNG ALSOC Mitsui Feb-93 Australia S Moss 4 Australia- NWS IGTC 2008
Sandpiper Chiba Japan
Northwest 127,450 Australia LNG STASCO Mitsubishi Nov-92 Bermuda S Moss 4 Australia- NWS IGTC 2008
Seaeagle Nagasaki Japan
Northwest 127,500 Australia LNG BP Shipping Kawasaki Sep-91 Bermuda S Moss 4 Australia- NWS IGTC 2008
Shearwater Sakaide Japan
Northwest 127,747 Australia LNG ALSOC Mitsui Sep-90 Australia S Moss 4 Australia- NWS IGTC 2008
Snipe Chiba Japan
Northwest 127,600 Australia LNG ALSOC Mitsubishi Dec-94 Australia S Moss 4 Australia- NWS IGTC 2008
Stormpetrel Nagasaki Japan
Northwest 127,708 J3 Consortium Mitsui Mitsui Nov-89 Japan S Moss 4 Australia- NWS IGTC 2008
Swallow OSK Line Chiba Japan
Northwest 138,000 Australia LNG Chevron Daewoo Mar-04 Australia S GT NO 96 4 Exports NWS IGTC 2024
Swan Transport from Australia
Northwest 127,590 J3 Consortium NYK Line Mitsubishi Sep-89 Japan S Moss 4 Australia- NWS IGTC 2008
Swift Nagasaki Japan
Pacific Eurus 137,000 LNG Marine NYK Line Mitsubishi Mar-06 Bahamas S Moss 4 Australia- Darwin Tepco 2024
Transport Nagasaki Japan
Pacific Notus 137,006 Pacific LNG NYK Line Mitsubishi Sep-03 Bahamas S Moss 5 Australia- Darwin Tepco 2024
Shipping Nagasaki Japan

p39-44:LNG 3 03/07/2008 12:36 Page 6
CARRIER FLEET
Pioneer Knutsen 1,100 Knutsen OAS Knutsen Bijlsma Dec-03 Norway D Cylinder 2 Coastal Naturgass Norway 2019
OAS Norway Vest
Polar Eagle 89,880 Polar LNG Marathon IHI Chita Jun-93 Liberia S IHI SPB 4 Alaska-Japan ConocoPhillips ConocoPhillips 2014
Shipping /Marathon /Marathon
Provalys 153,500 Gaz de France Gazocean Chantiers Nov-06 France DFDE CS1 4 Egypt-France ELNG Gaz de France 2026
Puteri Delima 130,400 M.I.S.C. M.I.S.C. Atlantique Jan-95 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG II 2015
Puteri Delima 137,100 M.I.S.C. M.I.S.C. Mitsui Chiba Apr-02 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG III 2023
Satu
Puteri Firuz 130,400 M.I.S.C. M.I.S.C. Atlantique May-97 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG II 2018
Puteri Firuz 137,100 M.I.S.C. M.I.S.C. Mitsubishi Sep-04 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG III 2024
Satu Nagasaki
Puteri Intan 130,400 M.I.S.C. M.I.S.C. Atlantique Aug-94 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG II 2015
Puteri Intan 137,100 M.I.S.C. M.I.S.C. Mitsubishi Dec-01 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG III 2023
Satu Nagasaki
Puteri Mutiera 137,100 M.I.S.C. M.I.S.C. Mitsui Chiba Apr-05 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG III 2025
Satu
Puteri Nilam 130,400 M.I.S.C. M.I.S.C. Atlantique Jun-95 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG II 2016
Puteri Nilam 137,100 M.I.S.C. M.I.S.C. Mitsubishi Sep-03 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG III 2023
Satu Nagasaki
Puteri Zamrud 130,400 M.I.S.C. M.I.S.C. Atlantique May-96 Malaysia S GT NO 96 4 M’sia-Japan Petronas MLNG II 2017
Puteri Zamrud 137,100 M.I.S.C. M.I.S.C. Mitsui Apr-87 Malaysia S GT NO 96 4 M’sia-Japan Atlantic LNG Enagas 2020
Satu Chiba
Raahi 136,000 Petronet Mitsui Daewoo Dec-04 Malta S GT NO 96 4 Qatar-India Qatargas Petronet 2030
LNG Ltd. OSK Line
Ramdane 126,130 SNTM-Hyproc SNTM- Atlantique Jul-81 Algeria S GT NO 85 5 Algeria- Sonatrach GdF 2013
Abane Hyproc France
Salalah LNG 147,000 Oman Gas/ Mitsui Samsung Dec-05 Japan S TZ Mk. III 4 Oman-Spain Oman Qalhat LNG 2026
MOL OSK Line
SFC Arctic 71,500 Sovcomflot Unicom Kockums Jan-69 Liberia S GT NO 82 6 Trinidad-Spain Atlantic LNG 2012
SCF Polar 71,500 Sovcomflot Unicom Kockums Aug-69 Liberia S GT NO 82 6 Algeria-France Sonatrach 2012
Senshu Maru 125,000 J3 Consortium NYK Line Mitsui Chiba Feb-84 Japan S Moss 5 Ind’sia-Japan Petamina 2011
Seri Alam 138,000 M.I.S.C. M.I.S.C. Samsung Oct-05 Malaysia S TZ Mk. III 4 Yemen-U.S. Yemen LNG Total 2028
Seri Amanah 145,000 M.I.S.C. M.I.S.C. Samsung Mar-06 Malaysia S TZ Mk. III 4 Yemen-U.S. Yemen LNG Total 2028
Seri Anggun 145,000 MISC MISC Samsung Nov-06 Malaysia S TZ Mk. III 4 Yemen-US Yemen LNG Total 2031
Seri Angkasa 145,000 MISC MISC Samsung Feb-07 Malaysia S TZ Mk. III 4 Petronas Various Malaysia-Pacific
Seri Bakti 152,300 MISC MISC Mitsubishi Mar-07 Malaysia S GT NO 96 4 Petronas Various Malaysia-Pacific
Seri Begawan 152,300 MISC MISC Mitsubishi Dec-07 Malaysia S GT NO 96 4
Seri Bijaksana 152,300 MISC MISC Mitsubishi Feb-08 Malaysia S GT NO 96 4 Malaysia/var Petronas
Shahamah 135,500 National Gas National Gas Kawasaki Oct-94 Liberia S Moss 5 Abu Dhabi- ADGAS Natural Gas 2020
Shipping Shipping Sakaide Japan Shipping
Shinjyu Maru 2,540 Shinwa Shinwa Imabari Aug-03 Japan D Cylinders 2 Japanese Shinwa
No. 1 Chemical Co. Marine Higaki Domestic Trade Chemicals
Simaisma 147,700 Maran Gas Maran Gas Daewoo Jul-06 Greece S GT No 96 4 Qatar-Europe Qatar RasGas II 2030
Maritime Maritime
SK Splendor 138,375 SK Shipping SK Shipping Samsung Mar-00 Panama S TZ Mk. III 4 Oman-Korea Oman Gas Kogas 2020
SK Stellar 138,375 SK Shipping SK Shipping Samsung Dec-00 Panama S TZ Mk. III 4 Qatar-Korea RasGas Kogas 2020
SK Summit 138,000 SK Shipping SK Shipping Daewoo Aug-99 Panama S GT NO 96 4 Qatar-Korea RasGas Kogas 2019
SK Sunrise 138,306 I. S. Carriers SK Shipping Samsung Sep-03 Panama S TZ Mk. III 4 Qatar-Korea RasGas Kogas 2025
SK Supreme 138,200 SK Shipping SK Shipping Samsung Jan-00 Panama S TZ Mk. III 4 Qatar-Korea RasGas Kogas 2020
Sohar LNG 137,250 Oman Gas/ Mitsui OSK Mitsubishi Oct-01 Malta S Moss 5 Oman-France Oman Gas 2022
MOL Line Nagasaki
Surya Aki 19,475 MCGC Int’l Homolco Kawasaki Feb-96 Bahamas S Moss 3 Ind’sia-Japan Pertamina 2020
Sakaide
Surya Satsuma 23,096 MCGC Int’l Humolco NKK Tsu Oct-00 Japan S TZ Mk. III 3 Ind’sia-Japan Pertamina 2020
Tellier 40,000 Messigaz Gazocean La Ciotat Jan-74 France S TZ Mk. I 5 Algeria-France Sonatrach GdF 2013
Tembek 216,200 OSG/Nakilat Overseas Hdg Samsung Sep-07 Marshall I. DRL TZ Mk. III 4 Qatar-UK/Var. Qatargas II 2032
Tenaga Dua 130,000 M.I.S.C. M.I.S.C. Dunkerque Aug-81 Malaysia S GT NO 88 5 M’sia-Japan Petronas MLNG 2205
Tenaga Empat 130,000 M.I.S.C. M.I.S.C. La Seyne Mar-81 Malaysia S GT NO 88 5 M’sia-Japan Petronas MLNG 2007
Tenaga Lima 130,000 M.I.S.C. M.I.S.C. La Seyne Aug-81 Malaysia S GT NO 88 5 M’sia-Japan Pertamina 2010
Tenaga Satu 130,000 M.I.S.C. M.I.S.C. Dunkerque Sep-82 Malaysia S GT NO 88 5 M’sia-Japan Petronas MLNG 2007
Tenaga Tiga 130,000 M.I.S.C. M.I.S.C. Dunkerque Dec-81 Malaysia S GT NO 88 5 M’sia-Japan Petronas MLNG 2006
Trinity Arrow 154,900 K Line K Line Imabari Mar-08 S TZ Mk. III 4 Various/US Various Cheniere
Shipbuilding
Umm Al Ashtan 137,000 National Gas National Gas Kvaerner- May-97 Liberia S Moss 4 Abu Dhabi- ADGAS Natural Gas 2021
Shipping Shipping Masa Japan Shipping
Umm Bab 145,000 Kristen Maran Gas Daewoo Nov-05 Bermuda S GT NO 96 4 Qatar-Europe Qatargas RasGas II 2030
Navigation Maritime
Wakaba Maru 125,000 J3 Consortium K Line Mitsui Chiba Apr-85 Japan S Moss 5 Ind’sia-Japan Pertamina Tepco 2009
YK Sovereign 127,125 SK Shipping SK Shipping Hyundai Dec-94 Panama S Moss 4 Ind’sia-Korea Pertamina Kogas 2015
Zekreet 135,420 J4 Consortium K Line Mitsui Chiba Dec-98 Japan S Moss 5 Qatar-Japan Qatargas 2024
Notes:
Any observations, additions or suggested revisions to the LNG journal World LNG Carrier Fleet list should be sent to editor@lngjournal.com

p45-52:LNG 3 03/07/2008 12:43 Page 1
T H E 2 3 R D A N N U A L E U R O P E A N A U T U M N G A S C O N F E R E N C E
25-26 November 2008 • Spazio Villa Erba • Lake Como • Italy
Bookings now being taken

E A R LY BIRD DEADLINE – 31 J U LY 2008
HOSTED BY
ORGANISED BY
www.theeagc.com/lngj
THE LONGEST RUNNING ANNUAL GAS CONFERENCE IN EUROPE
p45-52:LNG 3 03/07/2008 12:43 Page 2
TABLES
Tables of reception terminals

LNG Reception Terminals
Total Storage
Country Location Owners Start up Vaporization No.of Total
Explanatory Notes (Project) capacity Tanks Capacity m3
mtpa
The tables do not include the Belgium Zeebrugge Fluxys 1987 7.4 4 380,000
following types of LNG facilities : China Guangdong CNOOC,BP 2006 3.7 2 320,000
Small marine satellite Dominican
Republic Andres AES 2003 2 1 160,000
terminals receiving LNG from
France Fos-sur-Mer Gaz de France 1972 4 3 150,000
liquefaction plants in their own
Montoir Gaz de France 1980 8 3 360,000
country (such as exist in Greece Revithoussa DEPA 2000 2 2 130,000
Norway) or which receive LNG India Dahej Petronet LNG 2004 5 2 320,000
transhipped from nearby Hazira Shell India 2005 5 2 320,000
reception terminals in their own Italy Panigaglia Snam 1969 2.4 2 100,000
Negishi Tokyo Gas 1969 11 14 1,180,000
country (such as in Japan)
Sodegaura Tokyo Gas 1973 28 35 2,660,000
Satellite LNG storage facilities
Ohgishima Tokyo Gas 1998 5 3 600,000
that receive LNG transported Higashi-Ohgishima Tokyo Electric 1984 15 9 540,000
only by road or rail Futtsu Tokyo Electric 1985 20 10 1,110,000
Expansions of LNG reception Yokkaichi LNG Chubu Electric 1988 7 4 320,000
terminals are only shown if they Kawagoe Chubu Electric 1997 8 4 480,000
involve new storage tanks Yokkaichi Works Toho Gas 1991 0.7 2 160,000
Chita LNG Joint Toho Gas, Chubu Electric 1978 8 4 300,000
The capacity given is either the
Chita LNG Toho Gas, Chubu Electric 1983 12 7 640,000
total existing or planned Chita - Midorihama Toho Gas 2001 5 1 200,000
vaporization capacity (baseload Senboku I Osaka Gas 1972 2.4 4 180,000
and peak), converted to an Senboku II Osaka Gas 1977 13 18 1,585,000
equivalent annual throughput in Himeji Osaka Gas 1984 5 8 740,000
million tonnes per annum (mtpa), Japan Himeji LNG Kansai Electric 1979 8 7 520,000
Yanai Chugoku Electric 1990 2.4 6 480,000
or, in the case of those planned
Niigata Nihonkai LNG, Tohoku Electric 1984 10 8 720,000
terminals where the available data Oita Oita Gas, Kyushu Electric 1990 5 5 460,000
is limited to a planned annual Tobata Kitakyushu LNG 1977 6 8 480,000
capacity, the capacity in the table Fukuoka Saibu Gas 1993 0.9 2 70,000
may be either baseload or peak. Sodeshi Shizuoka Gas 1996 0.9 2 177,000
For expansions to existing Hatsukaichi Hiroshima Gas 1996 0.5 2 170,000
Kagoshima Nippon Gas 1996 0.5 2 136,000
terminals the numbers given for
Shin-Minato Sendai City Gas 1997 0.8 1 80,000
capacity, and for numbers of
Nagasaki Saibu Gas 2003 0.13 1 36,000
storage tanks and their capacity, Sakai Kansai Electric, Cosmo OIl 2006 2.7 3 420,000
are those for the extra facilities Mizushima Nippon Oil,Chugoku Electric 2006 0.6 1 160,000
associated with that expansion, not Pyeong-Taek Korea Gas Corp. (Kogas) 1986 18 10 1,000,000
for the total terminal facilities after Kwangyang POSCO 2005 1.7 2 300,000
Korea Incheon Kogas 1996 29 18 2,480,000
expansion.
Tong-Yeong Kogas 2002 10 5 700,000
Where there is a blank in the table
Mexico Altamira Shell, Total, Mitsui 2006 3.6 2 300,000
the information is uncertain or Portugal Sines Transgas Atlantico 2003 5 2 240,000
unknown. Puerto Rico Penuelas Edison, Mission Energy, Gas Natural 2000 2.7 1 160,000
Barcelona Enagas 1969 8 6 540,000
Any comments on the tables, and Spain Huelva Enagas 1988 3 4 460,000
corrections/additional information from Cartagena Enagas 1989 4 3 297,000
Bilbao BP, Iberdola, Repsol, EVE 2003 5 2 300,000
terminal shareholders and project
Sagunto Union Fenosa, Endesa,Iberdola, Oman Oil 2006 4.8 2 300,000
developers would be most welcome, and Reganosa, Ferrol Union Fenosa, Endesa,Sonatrach,Tojeiro 2006 2.6 2 300,000
should be sent to John McKay e-mail Taiwan Yung-An C.P.C. 1990 20 6 690,000
editor@lngjournal.com Turkey Marmara Ereglisi Botas 1994 4 3 255,000
Izmir EgeGaz 2006 3 2 280,000
Everett Suez LNG NA 1971 5 2 155,000
Lake Charles Southern Union 1982 9 4 425,000
USA Elba Island Southern LNG 2001 4 4 351,000
Cove Point* Dominion 2003 7.7 5 370,000
Gulf Gateway*
(offshore RVs, Gulf) Excelerate Energy 2005 4 * *
UK Isle of Grain National Grid 2005 3.3 4 200,000

p45-52:LNG 3 03/07/2008 12:43 Page 3
TABLES
Planned New and Expanded LNG Reception Terminals
Country Location/Project Owners/ Start up/ planned Storage

Project Developers start up No. new/ existing Total new/ exisiting
tanks capacity m3
Bahamas Freeport, Grand Bahama Suez, FPL Group, El Paso 2009 2 360,000
Ocean Cay AES Ocean Express 2008
Brazil Suape GNL do Nordeste : Shell, Petrobras 2009 1 160,000
Canada Bear Head US Venture Energy 2007 2 360,000
Cacouna LNG, Quebec TransCanada, Petro-Canada 2009 2 320,000
Goldboro, Keltic Petrochemicals
Goldboro Maple LNG 4Gas 2010 3
Nova Scotia PEV International R&D . 2008
Kitimat, B.C. Galveston LNG 2008 2 142,000
Texada Island, Nr. Vancouver WestPac LNG Corp., 2013
Canaport, Saint John, N.B. Irving Oil, Repsol 2008 3 480,000
Rabaska, Quebec Gaz Métro, Gaz de France & Enbridge 2010 2 320,000
Chile Quintero Enap 2008
China Fujian CNOOC, Fujian Investment & Development 2008 2 320,000
Shenzhen, Guangdong (expansion) CNOOC 2008 3 480,000
Hainan LNG CNOOC 2009
Shanghai CNOOC, Shenergy Group 2008 2 320,000
Tianjin CNOOC
Hebei CNOOC
Liaoning, Dalian PetroChina Ltd 2011 2
Ningbo, Zheijang CNOOC 2009
Yancheng, Jiangsu CNOOC 2010
Yingkou, Liaoning CNOOC 2010
Shantuo, Guangdong CNOOC 2010
Guangxi China National Petroleum Corp
Qingdao, Shangdong Sinopec 2009
Rudong, Jiangsu Sinopec, Petrochina 2010
Croatia Adria LNG E.ON-Ruhrgas, OMV, Total, RWE, INA, Geoplin 2011
Cyprus Vassiliko Cyprus Government 2009
France Fos Cavaou Gaz de France, Total 2009 3 330,000
Le Havre Verding/Poweo/ Gaz de Normandiem (Studies) 2011
Bordeaux (Le Verdon) 4Gas 2011
Marseilles (Fos-Sur-Mer) Royal Dutch Shell (Studies)
Le Havre (Antifer) Poweo/E.ON Ruhrgas/ Verbund/CIM 2012
Germany DFTG Willemshaven 2011 2 320,000
Honduras Puerto Cortes AES 2008
India Dabhol GAIL, NTPC (Ratnagiri Gas & Power) 2009+ 3 480,000
Mangalore ONGC 2010+
Kochi, Kerala Petronet LNG 2011 220,000
Ennore, Tamil Nadu GAIL, CPCL, IOC
Indonesia Cilegon, West Java PLN, Pertamina 2008
Italy Porto Levante (offshore GBS) ExxonMobil, Qatar Petroleum, Edison Gas 2008 2 250,000
Brindisi BG 2011 2 320,000
Livorno (offshore FSRU) OLT , Falck 2010
Rosignano (Livorno, offshore) BP, Edison, Solvay 2011 1 160,000
Taranto Gas Natural 2009 2 300,000
Priolo/Augusta/Melilli, Shell Energy Europe,
Sicily ERG Power & Gas 2010
Monfalcone (offshore) Endesa 2010
Jamaica Port Esquivel, Old Harbour Petroleum Corporation of Jamaica 2010
Japan Okinawa Okinawa Electric Power 2010
Shikoku/Sakaide LNG Shikoku Electric Power, Cosmo Oil Co., 2010
Shikoku Gas Co.
Pyeong-Taek (expansion) Kogas 2008 4 560,000
Korea Tong-Yeong (expansion) Kogas 2006 5 700,000
Incheon (expansion) Kogas 2015 11
Pyeong-Taek (expansion) Kogas 2015 10
Tong-Yeong (expansion) Kogas 2010 2 200,000
Energia Costa Azul Sempra LNG 2008 2 320,000
Mexico Lazaro Cardenas Repsol 2010 2 300,000

p45-52:LNG 3 03/07/2008 12:43 Page 4
TABLES
Planned New and Expanded LNG Reception Terminals (continued)
Country Location/Project Owners/ Start up/ planned Storage

Project Developers start up No. new/ existing Total new/ exisiting
tanks capacity m3
Manzanillo CFE 2009

Mexico(contd) Puerto Libertad, Sonora DKRW Energy, Sonora Govt. 2009 2 320,000
Ensenada (offshore GBS) GNL Mar Adentro de Baja
California -Chevron 2009 2 250,000
TAMMSA, Rosarito (o/shr FSRU) Moss Maritime/CEMSA 2008
Dorado HiLoad, Gulf (o/shr FSRU) Tidelands Oil &Gas 2009
Netherlands Gasunie, Royal Vopak, RWE Petroplus
New Zealand North Island Contact Energy, Genesis 2010
Pakistan Karachi Sui Southern Gas Company Ltd. 2010
Philippines Mariveles, Bataan GNPower 2008 2 280,000
Calaga LNG, Manila Bay Batangas Govt. 2015
Poland Baltic PGNiG
Singapore Singapore Energy Authority 2012
El Musel, Gijón, Enagas 2010 2 300,000
Spain Cartagena (expansion) Enagas 2008 1 150,000
Spain - Arinaga, Gran Canaria Gascan, Unelco Endesa 2008
Canary Is. Granadilla, Tenerife Gascan, Unelco Endesa 2008
Sweden Oxelosund Sydkraft Gas (Eon)
Taiwan Tai-chung CPC 2008 3 480,000
Thailand Map Ta Phud PTT 2012
Dragon LNG, Milford Haven BG, Petroplus, Petronas 2008 2 310,000
South Hook, ExxonMobil, Qatar Petroleum, Total 2008 3 465,000
UK Milford Haven 2010 2 310,000
Amlwch, Anglesey Canatxx
Teeside ConocoPhillips
Ukraine Black Sea coast Naftogaz
Blue Ocean Energy (offshore ExxonMobil 2010+
Cove Point (expansion) Dominion 2009 2 320,000
Cameron Sempra LNG 2008 3 480,000
Downeast LNG (Robbinston, Maine) Dean Girdis, Kestrel Energy
USA Freeport Freeport LNG, Cheniere,ConocoPhillips 2008 2 320,000
Neptune LNG Hoegh LNG/Suez LNG 2009
Sabine Pass Cheniere 2008 3 420,000
Bradwood, OR Northern Star
Broadwater Energy, NY (offshore FSRU) TransCanada, Shell 2010 2 350,000
Cabrillo Port, CA (offshore FSRU) BHP Billiton 2010 3 273,000
Calhoun LNG Gulf Coast LNG, Haddington
Port Lavaca, TX Ventures 2009 2 320,000
Clearwater Port, CA (offshore platform) Crystal Energy, Woodside 2010
Corpus Christi, TX Cheniere Energy 2009 3 480,000
Creole Trail, LA Cheniere Energy 2009 4 640,000
Crown Landing, NJ BP 2010 3 450,000
Golden Pass, TX ExxonMobil 2009 5 775,000
HiLoad, Gulf (offshore FSRU) TORP Technology, Golar LNG 2009
Ingleside Energy, TX Occidental Oil & Gas Corp 2011 2 320,000
Jordan Cove, OR Fort Chicago LNG/Energy Projects 2011 2 320,000
Main Pass, Gulf (offshore platform) McMoRan 2009+ 1 145,000
Northeast Gateway (offshore RV) Excelerate 2008
Oregon LNG (Warrenton) 2013 3 480,000
Pascagoula, MS Gulf LNG Energy 2012 2 320,000
Pascagoula, MS (Casotte Landing) Chevron 2012
Pearl Crossing,Gulf (offshore) ExxonMobil 2009 2 250,000
Port Arthur, TX Sempra Energy 2010+ 3 480,000
Port Pelican,Gulf (offshore GBS) Chevron 2010 2 330,000
Providence, RI * Keyspan, BG 2008
Quoddy Bay LNG Quoddy Bay LLC 2011
St. Helens, OR Port Westward LNG 2011
Sparrow Point, Maryland AES CORP. 2011
Vista Del Sol, Ingleside, TX ExxonMobil 2009 3 465,000
Weaver's Cove, Fall River, MA Amerada Hess, Poten & Partners 2010+ 1 200,000

p45-52:LNG 3 03/07/2008 12:43 Page 5
TABLES
Tables of liquefaction plants

Existing Liquefaction plants
Country Location/Project Shareholders Start Liquefacton Storage
up No. of capacity No. of Total
Explanatory Notes
trains (nominal) tanks capacity The tables do not include the
mtpa m3 following types of LNG facilities :
Algeria Arzew Sonatrach GL4Z 1964 3 1.1 (1.7) 4 71,000
Liquefaction plants which do not
Bethioua Sonatrach GL1Z 1978 6 7.6 3 300,000
GL2Z 1981 6 8.5 3 300,000 have a marine terminal for LNG
Skikda Sonatrach GL1K 1972 1 1 2 112,000 exports, i.e. it excludes most
GL2K 1981 2 2 3 196,000 LNG Peakshaving plants and
Karratha Woodside, Shell, BHP, ) 1989 2 Total 7.5 4 260,000
those smaller-scale LNG plants
Australia (North West Shelf J.V.) BP, ChevronTexaco, MIMI 1992 1
supplying LNG by road tanker
(Mistubishi/Mitsui) 2004 1 4.5
or rail.
Darwin (Bayu Undan) ConocoPhillips, Santos, Tepco, 2006 1 3 1 188,000 Small-scale liquefaction
Tokyo Gas facilities supplying small
Brunei Brunei Brunei/Shell/Mitsubishi 1972 5 6.71 3 176,000
marine satellite terminals in
Egypt Damietta (SEGAS) Union Fenosa, ENI, EGPC, EGAS 2004 1 5 2 300,000
their own country (such as exist
Idku (Egyptian LNG) EGPC, EGAS, BG, 2005 2 7.2 2 280,000
Gaz de France, Petronas in Norway)
Equatorial Bioko Island Marathon, GEPetrol 2007 1 3.4 2 272,000 The existing or planned baseload
Guinea (Mitsubishi, Marubeni to join) capacity is given in million tonnes
Indonesia Blang Lancang 1978 3 Total 7 4 508,000
per annum (mtpa)
(PT Arun) Pertamina, ExxonMobil, JILCO 1984 2 (13.2)
Storage capacities are given in m3
1986 1
1977 2(A,B) 4 380,000 liquid (LNG)
1983 2 (C,D) 1 127,000 For expansions to existing
Bontang Pertamina, VICO, JILCO, Total 1989 1 (E) Total 22 terminals the numbers given for
(PT Badak) 1993 1 (F)
number of liquefaction trains and
1997 1 (G)
their capacity, and for numbers of
1999 1 (H)
Libya Marsa el Brega Sirte Oil (NOC/Shell upgrade) 3.2 2 96,000 storage tanks and their capacity,
Bintulu (Malaysia LNG) Petronas, Shell, 1983 3 8.0 4 260,000 are those for the extra facilities
Malaysia Bintulu (MLNG Dua) Sarawak Govt, Mitsubishi 1995 3 8.0 1 65,000 associated with that expansion,
Bintulu (MLNG Tiga) Petronas, Shell, Sarawak Govt, 2003 2 6.8 1 120,000
not for the total terminal facilities
Mitsubishi, Nippon Oil
after expansion.
Nigeria Bonny Island NNPC, Shell, Total, Agip 1999 2 6.4 2 168,400
(Nigeria LNG) 2002 1 3.2 1 84,200
Shell Total, Iberdrola,, Transgas, 2005 2 8.2
Eni, BG and Endesa
Endesa, France's Total and 2008 1 4.0 1 84,200
Royal Dutch Shell
Norway Melkoya Island Statoil, Total, Gaz de France, Norsk 2007 1 4.2 2 280,000
(Snohvit j.v.) Hydro
Oman Oman LNG Oman Govt. , Shell, Total, Korea 2000 2 7.4 2 240,000
LNG, Mitsubishi , Mitsui, Partex
and Itochu
Qalhat LNG Oman Govt. ,Oman LNG Union 2006 1 3.5 2 240,000
Fenosa, Osaka Gas, & Itochu
Ras Laffan (Qatargas) QGPC, ExxonMobil , 1996 3 9.5 4 340,000
Qatar Total, Marubeni, Mitsui
Ras Laffan (RasGas) QGPC, ExxonMobil, Kogas, 1999 2 6.6 3 420,000
Itochu & LNG Japan
Ras Laffan (RasGas II) QGPC, ExxonMobil 2004 1 4.7
Ras Gas II QGPC ExxonMobil 2005 1 4.7
RasGas II - T3 2007 1 4.7
RasGas III - T6 [2] Qatar Petroleum, ExxonMobil 2008 1 7.8
RasGas III -T7 [2] Qatar Petroleum, ExxonMobil 2008 1 7.8
QatarGas III Qatar Petroleum, ConocoPhillips, 2009 1 7.8
Mitsui
BP, BG, Repsol, Suez, NGC 1999 1 3.2 2 204,000
Trinidad Point Fortin BP, BG, Repsol 2002 1 3.2 1 160,000
& Tobago (Atlantic LNG) 2003 1 3.2
2005 1 5.2
Abu Dhabi Das Island (Adgas) ADNOC, Mitsui, BP, Total 1977 2 3.2 3 240,000
(UAE) 1994 1 2.5
U.S.A. Kenai - Alaska ConocoPhilips, Marathon Oil 1969 1 1.4 3 108,000

p45-52:LNG 3 03/07/2008 12:43 Page 6
TABLES
Liquefaction Plants Under Construction

Country Location/Project Shareholders Start up Liquefacton Storage
No. of capacity No. of tanks Total capacity
trains (nominal) mtpa m3
Angola Angola LNG Sonangol, Chevron, BP, ExxonMobil, Total 2012 1 5.0
Indonesia Irian Jaya(Tangguh) BP, MI Berau, CNOOC, Nippon Oil, KG, LNG Japan 2008 2 7.6
Qatar Ras Laffan -exp. QGPC, ExxonMobil Train 4 2008 1 7.8
(Qatargas II) QGPC, ExxonMobil, Total Train 5 2008 1 7.8
Russia Sakhalin (Sakhalin Energy) Gazprom, Shell, Mitsui, Mitsubishi 2008 2 9.6 2 200,000
Planned Liquefaction Plants And Expansions
Country Location/Project Project developers Planned No. new new capacity

start up trains mtpa
Abu Dhabi Das Island (expansion) Adgas 1

Algeria Skikda Sonatrach 2011 1 4.5
Algeria Arzew (Gassi Touil) Sonatrach/Repsol/Gas Natural 2009 1 3.8
Angola Soyo Sonangol, ChevronTexaco, BP, ExxonMobil, Total 2009 1 5
Australia NWS Venture (Tr.5 expansion) Woodside, Shell, BHP, BP, ChevronTexaco, MIMI 2008 1 4.5
Australia Barrow Island (Gorgon) ChevronTexaco,Shell, ExxonMobil 2011 2 10
Australia Tassie Shoal MEO Australia Ltd./Petrofac Ltd 2011 1 3
Australia Pilbara BHP Petroleum 2012 6
Australia Browse Woodside 2012 10
Australia Greater Sunrise Woodside, Osaka Gas, ConocoPhillips, Shell 2013 1 5.3
Australia Gladstone LNG Santos 2014 1 3.4
Australia Ichthys INPEX, Total 2013 2 6.0
Australia Wheatstone LNG Chevron Corp. 2012 1 5
Bolivia Margarita (Pacific LNG) Repsol, BG and BP 2 7
Brazil Solimoes (Green LNG) Petrobras 2008 1 2.5
Brunei Lumut - Train 6 expansion Brunei LNG 2011 1 5
Egypt Damietta - Train 2 expansion ENI, EGPC, EGAS 2011 1 5
Indonesia Bontang - Tr.I expansion Pertamina, Total, Unocal, VICO 2009 1 3.5
Iran Iran LNG NIOC, BP, Reliance 2012 2 8
Iran Pars LNG NIOC, Total, Petronas 2012 2 8
Iran Persian LNG NIOC, Repsol, Shell 2013 2 10
Iran NIOC LNG NIOC, BG, Enel, Agip 2013 2 9.6
Malaysia Bintulu (exp.) Malaysia LNG, Petronas 1
Mauritania BG
Nigeria Bonny - Train 7 NNPC, Shell, Total, ENI 1
Nigeria Bonny NNPC/ExxonMobil 1 4.8
Nigeria Brass LNG NNPC, Eni, ConocoPhillips, ChevronTexaco 2012 2 10
Nigeria Olokola NNPC, Chevron Nigeria, BG and Shell 2012 4 20
Papua NGuinea PNG LNG Merrill Lynch, InterOil, Pacific LNG 2012 1 4.5
Peru Pampa Melchorita (Camisea LNG) Hunt Oil, SK Corp., Repsol and Marubeni Corp. 2008 1 4.5
Qatar Ras Laffan - expansion (Qatargas III - Train 6) Qatar Petroleum (QGPC),ConocoPhillips 2009 1 7.5
Qatar Ras Laffan - expansion (Qatargas IV - Train 7) QGPC, Shell 2012 1 7.8
Russia Murmansk (Shtockman) Gazprom and partners 2015 2 12
Trinidad Point Fortin -Trains. 5&6. BP, BG, Repsol, NGC 2 10.4
USA Alaska Alaska North Slope
Yemen Bal-Haf (Yemen LNG) Total, Yemen Gas, Hunt Oil, SK Corp, Hyundai 2009 2 6.8

p45-52:LNG 3 03/07/2008 12:45 Page 7
LNG OneWorld.com
p45-52:LNG 3 03/07/2008 12:46 Page 8
/1*- O) NOL GI

LNG Journal JulAug08

Uploaded by

Copyright:

Available Formats

LNG Journal JulAug08

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

LNG Journal JulAug08

Uploaded by

Copyright:

Available Formats

p1-22:LNG 3 03/07/2008 11:20 Page 1

The World’s Leading LNG publication

Maritime Content Ltd

Subscriptions Sales Manager

2 • LNG journal • The World’s Leading LNG journal

Complex, remote LNG project.

Got a plan? We do.

For more information, email lng@kbr.com or visit www.kbr.com/lng.

Sakhalin, the next LNG project for In a supply-constrained world,

4 • LNG journal • The World’s Leading LNG journal

6 • LNG journal • The World’s Leading LNG journal

LNG journal • July/August 2008 • 7

LNG (either through the

should years. promoting

8 • LNG journal • The World’s Leading LNG journal

LNG journal • July/August 2008 • 9

10 • LNG journal • The World’s Leading LNG journal

The best human team and a fully in-house

Flex LNG and Technip develop

Floating LNG production units being

12 • LNG journal • The World’s Leading LNG journal

Who’s the strongman of the seven seas?

LNG journal • July/August 2008 • 13

metres/200 feet located in harsh beyond that originally designed for,

14 • LNG journal • The World’s Leading LNG journal

Shell FLNG bids

LNG journal • July/August 2008 • 15

The ONLY event solely

An update on the latest

WITH PRESENTATIONS FROM MAJOR INDUSTRY PLAYERS INCLUDING: Sponsored by

Information and Bookings Hotline Telephone +44 (0)20 7017 5518

16 • LNG journal • The World’s Leading LNG journal

SAFETY AND SUPPORT AT SEA

WORLD’S LARGEST LNG

Phone +45 3919 3919 · info@svitzer.com · www.svitzer.com

LNG PROJECT RISKS

Relationships evolve for newest LNG

18 • LNG journal • The World’s Leading LNG journal

LNG PROJECT RISKS

LNG journal • July/August 2008 • 19

LNG PROJECT RISKS

20 • LNG journal • The World’s Leading LNG journal

LNG PROJECT RISKS

LNG journal • July/August 2008 • 21

News alongside a dedicated jetty where it

index pipeline via Excelerate's dockside high-

LNG journal • July/August 2008 • 23

24 • LNG journal • The World’s Leading LNG journal

LNG journal • July/August 2008 • 25

import facility in Poland. SNC-Lavalin is

GAS NATURAL, the Spanish LNG

26 • LNG journal • The World’s Leading LNG journal

LNG journal • July/August 2008 • 27

28 • LNG journal • The World’s Leading LNG journal

LNG journal • July/August 2008 • 29

Subscribe now projected to increase from 123 quadrillion

30 • LNG journal • The World’s Leading LNG journal

Singapore moves step closer to

32 • LNG journal • The World’s Leading LNG journal

/1*- O) NOL GI