LNGNEWS Qatar China
Avenir LNG and SSES ink bunkering agreement
Nakilat takes delivery and management of fourth LNG carrier new-build
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venir LNG Ltd has announced that it has entered into a long-term joint co-operation agreement (JCA) with Shanghai SIPG Energy Service Co. Ltd (SSES), a Chinese joint venture between Shanghai International Port Group (SIPG) and Shenergy Group which is responsible in delivering LNG bunker to CMA CGM’s containerships on behalf of SIPG. Under the JCA, Avenir will be responsible for the global marketing of LNG bunkering services in Shanghai Port as well as support SSES with operational and technical services to ensure seamless LNG bunkering operations for the CMA CGM containerships and future customers. This important milestone expands Avenir’s bunkering network into the rapidly growing Chinese market adding another hub to its existing bunkering network in the Mediterranean, North West Europe, and Malaysia. In support of establishing Shanghai as a leading LNG bunkering hub, Avenir sold its first new-build 20 000 m3 Avenir Allegiance to SSES. The vessel sale released significant cash back to Avenir. The proceeds will be used to enhance Avenir’s working capital position and fund future growth opportunities. Peter Mackey, CEO of Avenir LNG, said: “We are thrilled to play an important role in establishing and promoting China’s first LNG bunkering hub in Shanghai. This deal marks another major achievement in Avenir’s development as we continue to expand our LNG bunkering network globally. We look forward to expanding our long-term relationship with SIPG, Shenergy, and CMA CGM.”
akilat has taken delivery of a new-build LNG carrier, Global Sealine, which will be commercially and technically managed in-house by Nakilat Shipping Qatar Ltd (NSQL). Built by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea, this is the final LNG new-build carrier to be delivered to Global Shipping Co. Ltd, a joint venture between Nakilat (60%) and Maran Ventures Inc. (Maran Ventures) (40%). Three of its sister vessels were delivered between 2020 - 2021 and are all under time charters. With a cargo carrying capacity of 174 000 m3, Global Sealine is the second vessel with an X-DF propulsion system to join the Nakilat fleet and is chartered to Cheniere Marketing International LLP. Nakilat’s CEO Eng. Abdullah Al Sulaiti said: “Nakilat is committed to its environmental goals and supporting the International Maritime Organization’s (IMO) carbon intensity reduction targets to reduce carbon emissions by 2030. The addition of this vessel to our fleet allows the company to offer greater operational flexibility to our charterers as the X-DF engine propulsion is proven to be more fuel efficient and more environmentally friendly due to the lower carbon emissions. Moreover, the vessel features significantly lower gas boil-off rate, is equipped with onboard reliquefaction units, and complies with all mandatory international and national regulations pertaining to environmental protection.” The delivery of this vessel brings Nakilat’s fleet to 74 vessels. To date, there are 25 LNG carriers, four LPG carriers, and one FSRU vessel being managed and operated in-house by NSQL.
USA
Woodside signs HOA with Commonwealth LNG
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oodside Energy Trading Singapore Pte Ltd (Woodside) has signed a heads of agreement (HOA) with Commonwealth LNG to negotiate a sale and purchase agreement for the supply of LNG from the proposed Commonwealth LNG development in Cameron, Louisiana, US. The HOA contemplates the purchase by Woodside of 2 million tpy of LNG over a period of 20 years, scheduled to begin in 2Q26. Woodside’s offtake obligation can be reduced or even eliminated as Commonwealth achieves increasing thresholds of offtake commitments from other buyers.
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February 2022
Woodside would also have an option to purchase an additional 0.5 million tpy of LNG. Woodside CEO Meg O’Neill said she was pleased to sign the HOA with Commonwealth, which shared Woodside’s commitment to cost-effective and optimised solutions for LNG customers in an evolving global market. The HOA is non-binding and also conditional upon the negotiation and execution of a fully termed LNG Sales and Purchase Agreement, all necessary approvals being obtained, and a Final Investment Decision (FID) on the proposed Commonwealth LNG development.
