The finalisation of plans comes amid resistance from the powerful auto lobby to the mandate to sell only electric three-wheelers by 2023 and that all new two-wheelers with engine capacity of up to 150cc may have to be electric powered by 2025. To counter this opposition, government is contemplating a phased rollout of the EV programme for two and three-wheelers and initially limit their sale to the metropolitan cities, especially those that are highly polluted. This will be akin to the implementation of emission standards such as BSIV and may partly help address concerns of the industry, which has described the government’s move as “unrealistic” and “ill-timed”. “There is the question of lack of charging points across the country. We are looking at how we can get petrol pumps to have charging stations. Once you have a network of charging stations across the country, it will promote the use of electric vehicles,” a senior official said. Currently, there are around 60,000 petrol stations operated by state-run firms and there are plans to add nearly the same number. Several private players also operate gas stations across the country. The industry has complained that the charging infrastructure is missing and the use of existing fuel stations is seen as a win-win deal. Besides, the government wants to use the EV rollout to turn India into a manufacturing base for vehicles as well as batteries and avoid a situation like the one for electronic goods and mobile phones where a late entry has resulted in China emerging as the global manufacturing hub. As part of that move, NITI Aayog, the government think tank, has floated a Cabinet proposal on “giga-scale” cell and battery manufacturing facilities in the country, suggesting a variety of sops, including income tax incentives to promote investment and a customs duty matrix that encourages domestic production.

https://energy.economictimes.indiatimes.com/news/oil-and-gas/govt-wants-petrol-stations-to-charge-your-e-vehicle/70017793

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Recently, Hyundai disclosed that the ARAI certified range of Kona is 452 km on a single full charge and claimed that the car’s battery can be charged up to 80% in less than an hour. Globally, Hyundai Kona comes in two battery variants – a 39kWh and 64kWh. Under the hood, the Indian variant will be powered by the 64 KWH lithium-ion batteries. There is a permanent magnet synchronous motor and makes 204hp and 395 Nm of peak torque. According to the company,  the top speed of the higher variant is 167 Kmph. The introductory price for Hyundai Kona Electric is Rs 25.3 lakhs.

Source: electricvehicles.in

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According to the CPCB order, air polluting industries in 23 districts had been discharging pollutants, posing a threat to air quality in Delhi and the NCR. The CPCB had sought a status report on the conversion to PNG in the NCR. It observed that in spite of availability of PNG, industries had not switched operations. Following receipt of reports, the CPCB chairman directed state boards to issue closure order on all industrial units in the NCR where PNG supply was available and the industry had not shifted to it. The NGT has directed the state to install a waste-to-energy plant in the Rohtak cluster before December 2021, calling the proposed timeline leisurely. The NGTsaid such leisurely timeline was in conflict with rules. “We direct the Chief Secretary to take steps so that the timeline of December 2021 is advanced. The Chief Secretary may indicate progress in this regard in the next report to be furnished to this tribunal,” it said. — PTI

https://www.tribuneindia.com/news/haryana/close-units-not-shifting-to-piped-natural-gas-cpcb/800570.html

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the Central government is planning to cut down its direct holding in the aforementioned energy behemoths to below 51%. The report also informed that government’s indirect holding, through arms such as Life Insurance Corporation of India will stay above 51%. In March 2019, the government had pressed cash-rich PSUs IOC and ONGC to pay a second interim dividend for the current fiscal after seeking regulatory nods. Even Finance Minister Nirmala Sitharaman had last week announced a record $15 billion asset sales target for the current fiscal, while proposing to increase the taxes on profiteering companies. Sitharaman also wanted to extract higher dividend from Reserve Bank of India (RBI) and increase duties on gold and gasoline to boost revenue and lower the budget gap to 3.3% of gross domestic product. The proposal to lower direct holdings in some state-run companies below 51% was also part of Sitharaman’s budget proposals, which she said would be considered on case-to-case basis, the Bloomberg report added. Even in 2017, the then Finance Minister Arun Jaitley wanted to create an integrated public sector oil major to match the might of the international oil and gas giants by combining some or all of its stakes in listed domestic oil and gas firms. In a regulatory filing, IOC had said: “A board meeting of the company is scheduled on Tuesday, March 19, 2019…to consider declaration of 2nd interim dividend for the financial year 2018-19.” IOC had in December declared Rs 6.75 per share interim dividend alongside a Rs 4,435 crore share buyback to help the government meet its revenue targets. ONGC had announced an interim dividend of Rs 5.25 per equity share on February 14. It too had approved a Rs 4,022 crore share buyback.

https://www.abplive.in/business/modi-govt-likely-to-give-up-direct-control-of-indian-oil-gail-ongc-ntpc-heres-why-1029325

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The decision has been taken to encourage increased usage of natural gas by small, medium and bigger industrial units in the state. “The announcement follows a suggestion by the Gujarat chief minister that industrial units be provided a relief in prices of natural gas to encourage pollution-free production in the state,” the government said in an official statement. As many as 8,910 industrial units in India consume natural gas as fuel. Of this, more than 50% or 4,903 are located in Gujarat. “By offering relief in the natural gas price, the state aims to make various goods available at cheaper rates to the people of the state. The relief will also make natural gas attractive to other industrial units which currently do not use natural gas,” the statement added. Stating that steps are being taken to reduce carbon emission in Gujarat, the state government further said that natural gas is not only sustainable but also cheaper, cleaner and safer than other fuels such as coal or diesel. Last week, the state government announced that more than 300 CNG stations would be set up across Gujarat over the next two years. These stations would be set up under the state’s ‘CNG Sahbhagi Yojana’.

https://timesofindia.indiatimes.com/city/ahmedabad/gas-price-relief-for-industrial-units/articleshowprint/70032512.cms

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The ministry will soon approach the Union Cabinet to seek approval for the scheme recommended by a high-level empowered committee on stressed assets, they said. The proposal, for three years starting this fiscal, is an extension of the previous rounds of subsidised gas auction schemes to power plants. The difference this time, however, is a plan to aggregate power from these plants through reverse online auction and a proposal to do away with subsidy component The operating power plants will have to increase their supply to existing buyers. Giving power plants an option to sell power on power bourses is also being explored as reported first by ET on April 14. Under the proposed scheme, a tariff-based electronic reverse will be conducted among gas-run power plants based on prevailing gas price at sea. Contracts will be signed with the lowest bidders. A gas aggregator will be assigned and the subsidy component will arise only if the imported fuel prices increase. SARITA SINGH Search for News, Stock Quotes & NAV’s The subsidy may be given directly to the gas aggregating company and the generation and distribution companies will not be affected. Alternatively, the government may also consider giving subsidy to distribution companies if power purchase is made at a cost higher than the bid price. The discoms will have to furnish details of purchase made from gasbased power plants under the scheme to claim the support. The proposed haircuts include waiver of state and central taxes on imported LNG, waiver of goods and service tax on regasification and transportation of the fuel, reduction of pipeline tariff charges and marketing margin by Gas Authority of India. Transmission charges on electricity for such stranded gas-based power projects are also proposed to be sacrificed. The power companies will not make any return on equity. The government had launched the first e-RLNG scheme in March 2015 for two years. The scheme was discontinued after two bidding rounds after the power ministry received aggressive bids from companies. Power companies have been urging the government to restart the scheme as about 8,000-mw capacity is completely stranded while the rest is stressed. Data available with the Central Electricity Authority showed the gas-based power stations in the country operated at a capacity of 24% in May. Against a requirement of 117 million metric gas to run these plants at 90% capacity, average domestic gas supply was about 31mmscmd. The allocation to these plants is 94 mmscmd.

https://economictimes.indiatimes.com/industry/energy/power/power-ministry-proposes-reverse-e-auction-for-gas-run-plants/printarticle/70015323.cms

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Oil prices largely favoured the first term of the Modi government which has kept the inflation in check. Increasing US shale oil prodcution and weakening global demand could push the crude oil prices downwards. India, which imports around 80 per cent of its oil, benefits from low crude oil prices. In Modi government’s first term, the government earned a windfall by taxing the oil on the back of benign international oil prices. However, it also came under criticism as the domestic prices kept on climbing because the government refused to lower the tax rate on oil at the time of rising crude oil prices.

https://economictimes.indiatimes.com/industry/energy/oil-gas/budget-2019-oil-could-come-to-the-rescue-of-modi-2-0-again-predicts-economic-survey/printarticle/70068800.cms

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The price for delivery of LNG in northeast Asia in August is estimated at $4.30 per MMBtu, a 50 cent drop from last week. LNG traders said demand from key buyers in Asia is likely to stay thin, with some market sources decreasing their price expectation for the upcoming winter to as low as between $6.50-$7.50/MMBtu from earlier forecast of above $8.00/MMBtu. Asian price netbacks for Atlantic produced cargoes have remained above those in Europe this week, but a lack of physical cargo demand means cargoes often cannot be sold to higher-priced markets. “Numbers may work on paper, but in practice sellers struggle to find a buyer,” an LNG trader said. In the past week, projects in Angola, Australia, the UAE and Papua New Guinea were among those that issued spot sell tenders. Angola LNG export project was selling a cargo for August delivery, a second August cargo in one week. Two cargoes were offered from Exxon Mobil Corp’s Papua New Guinea liquefied natural gas (LNG) export plant. An August cargo from the project was sold earlier this week at $4.5 per MMBtu and a September cargo at $4.55 per MMBtu, a market source said. In Australia, the Ichthys project offered two cargoes, one for late July and another for early August loading. One cargo was also offered from Australia’s Wheatstone plant, which was bid at around $4.55 per MMBtu, the source added.

UAE’s Adnoc was selling an early August cargo from its Das Island facility. India’s Gail offered two LNG cargoes for loading from the Cove Point plant in the United States in August and November and was also seeking an LNG cargo for India’s Dahej terminal for late December delivery. India’s GSPC cancelled a buy tender for August delivery, but was expected to return to the market for the cargo later. The trading arm of Thailand’s PTT bought a cargo from U.S. producer Cheniere for a likely delivery to Europe in August. Cheniere said this week that it had produced first cargo from its new Corpus Christi Train 2. Feedgas into the newly launched Cameron LNG plant in Lousiana has been consistently high since the start of July. One of its offtakers, Japan’s Mitsui is expected to load another cargo there on the Marvel Crane tanker that delivered first cargo from the plant to France last month. The vessel was first expected to reload a cargo in the Netherlands but is now heading to Cameron instead. European gas prices gained value this week as a number of unplanned outages on Norwegian gas production has reduced supply. Dutch gas price for August delivery increased by more than 50 cents to around $3.65 per MMBtu.

https://www.hellenicshippingnews.com/global-lng-asian-spot-prices-drop-outlooks-for-winter-get-bearish/

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Unlike oil, which has several liquid financial and physical trading platforms and exchanges, LNG markets are still evolving, with companies jostling to lead the space. Platts, a unit of S&P Global Inc, uses the eWindow platform as part of its pricing process. The platform allows participating companies to key in their bids, offers or transactions directly and which appear on a screen for others to see. It is aiming to launch the platform in a few months, said Ciaran Roe, global director of LNG at Platts. Currently, participating companies wanting to bid, offer or transact, do so manually through a Platts editor. The pricing agency already uses the digital platform for its oil benchmarks and is now extending it to its LNG price assessments, including the Platts Japan-Korea-Marker (JKM), which is fast becoming the benchmark price for spot LNG delivered into Northeast Asia. The JKM LNG Platts contract on ICE hit a record 44,394 lots for futures and options combined in June and reached a new open interest record of 52,080 lots at the end of June, the companies said. “As LNG markets continue to liberalize and new types of price agreements emerge between buyers and sellers of LNG, a range of hedging products are critical to allow the market to hedge risk and manage price exposure,” they added. Rising spot trading volumes have attracted several companies to launch LNG pricing and trading platforms, including Australia-headquartered Global LNG Exchange and Spark Commodities which is jointly owned by data firm Kpler and energy exchange Powernext.

https://www.hellenicshippingnews.com/asias-spot-lng-benchmark-goes-digital-with-launch-of-electronic-platform/

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This shipment will be delivered by the Valencia Knutsen LNG Tanker to customers in Asia. TechnipFMC’s scope of work included the project management, engineering, procurement, installation, commissioning and start-up for Prelude. Nello Uccelletti, President Onshore/Offshore at TechnipFMC, commented: “Congratulations to all TechnipFMC teams involved on this incredible project. Prelude FLNG is the largest floating facility ever built, and we can all be proud of this major milestone and of the rewarding relationship we have built with Shell and Samsung Heavy Industries throughout the years”.

https://www.worldoil.com/news/2019/7/4/first-lng-cargo-shipped-from-prelude-flng

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Transaction terms were not disclosed. Dragon LNG is one of three LNG regasification terminals in the UK. The terminal has a gas send out rate to the UK’s National Transmission System of up to 9 billion cubic metres per annum, providing clean and reliable energy for millions of commercial and residential UK users. Facilities at the terminal were recently enhanced through commissioning of a reliquification plant. PETRONAS will continue to be a customer of Dragon LNG as a counterparty to a long-term throughput agreement with the terminal.

https://businessnewswales.com/new-ownership-for-dragon-lng-terminal-in-pembrokeshire/

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The United States is investing 507 billion U.S. dollars in expanding or building new LNG terminals to ship its gas to Asian markets, where there is a growing demand for non-fossil fuel to harness climate change problems, said the report issued by Global Energy Monitor, a non-governmental pro-climate organization based in San Francisco. Washington is leading the list of the world’s top 10 countries that have made the largest investment on import and export LNG terminals, and at least 202 LNG terminal projects are currently underway worldwide, including 116 export terminals and 86 import terminals, said the report. It added that the construction of export terminals is mainly concentrated in the United States and Canada, while 42 countries and regions are building import terminals. The ongoing projects will triple the global LNG export capacity. The LNG expansion will have global warming impacts as large or larger than the expansion of coal-fired power plants, because of methane leaks that occur during drilling in the pipelines or delivery, the report warned. Methane is the chief component in natural gas that is responsible for 25% of global warming to date. “People had never expected the U.S. would become a huge gas exporter 10 years ago when large-scale oil fracking industry just got started,” said the report’s co-author Ted Nace, executive director of Global Energy Monitor, in a statement obtained by Xinhua. Today, the cost of renewable alternatives has fallen constantly amid rising concerns for climate change, the expansion of LNG infrastructure may no longer be considered financially viable in the long run, the report said. With such a scenario, the global investment of 1.3 trillion dollars in LNG infrastructure will be put at risk of becoming “stranded assets,” it suggested. Nace called for a moratorium on the expansion of LNG projects, saying that most of those projects are in the pre-construction stage and there is still time “before we lock ourselves into even more irreversible climate damage.”

https://www.ecns.cn/news/2019-07-03/detail-ifzkrnzp2018808.shtml

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The LNG price for August deliver in northeast Asia is estimated at $4.80 per MMBtu, a 20 cent rise from last week. Several deals were done this week at a price close to $5.00 MMBtu for August delivery in Asia, but sources said prices could have decreased slightly by Friday after deals closed. In contrast, front-month gas price on the Dutch hub in Europe dropped below $3.20 per MMBtu. Decreased price netbacks in Europe are making some producers to consider re-exporting cargoes from northwest Europe to more profitable regions, like Asia or the Mediterranean. Up to four transhipments of Russia’s Yamal LNG cargoes have been agreed for July, a market source said. In addition, trading houses and utilities are discussing reloads in Europe, another source said. One of these will take place in France’s Fos terminal on July 9, data from operator Fosmax showed. Japan’s Mitsui is expected to deliver a European cargo to Japan to cover a position that was initially expected to be supplied by a cargo from new U.S. plant, Cameron LNG, which was eventually sent to France, another market source said. Cameron exported its second commissioning cargo this week after earlier delays with loadings.

An uptick in Asian demand has improved Asian LNG prices this week. Demand came from Japanese and Chinese buyers, market sources said. Japan’s JERA was on the market, as well two or three Chinese companies, sources said but added demand was still weak and prices will likely drop back to $4.50 MMBtu if there is not enough rise in Asia’s temperatures to drive gas demand for cooling this summer. On Friday, JERA bought a September cargo from Vitol at $4.80 per MMBtu at Platts Market on Close window. In India, there is some short-term LNG demand from power plants, a source active in the Indian markets said. In addition, India’s Gujarat State Petroleum Corp (GSPC) and Reliance Industries were both looking for an October cargo each, the source added. On the supply side, Angola LNG is selling a cargo for delivery in August in a tender closing July 2, two market sources said. Malaysia’s Petronas has offered two cargoes via the LNG trading marketplace Global LNG Exchange (GLX), a market source said. In Europe, high gas storage levels are weighing on prices. High storage levels may increase the number of relaods in Europe later this year. “I think we will have too much gas (in stocks) for September, so something will have to move,” a gas trader in Europe said.

Source: LNG Global/Reuters

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The spot cargo was sourced from an unnamed supplier by PTT International Trading, the Singapore-based trading arm of PTT, on an FOB basis from Cheniere Energy’s Sabine Pass LNG project in Louisiana in the United States, the source told Reuters on Wednesday (July3). The cargo is likely to be delivered into Europe in August, the source added, declining to be named as he was not authorised to speak with media. PTT could not immediately be reached for comment on the matter. PTT’s existing long-term purchase contracts are all priced on a delivered ex-ship (DES) basis. “This cargo is the first FOB LNG cargo transacted by PTT group, who has been known as a traditional end buyer since they started importing LNG in 2011,” the source said. The move follows PTT’s first sale of LNG last month when it delivered a cargo into India in June, and is likely part of the company’s plan to expand its trading activity after it set up an LNG trading desk in its Singapore trading office in February. The company’s chief executive told Reuters in an interview last month that PTT is in no hurry to lock in new long-term LNG contracts as it monitors domestic gas output and the growth of renewables over the next 2-3 years. Thailand is expected to become more reliant on LNG imports because of falling output in the Gulf of Thailand, but natural gas demand growth has slowed to about 1% or less in the past 3-4 years because of increases in solar power. 

Source: LNG Global

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Prices for month-ahead Dutch gas have dropped by two-thirds since their peak last September of just under 30 euros per megawatt hour (MWh). On Friday, Dutch gas for July delivery slumped to 8.95 euros per MWh, the lowest since August 2009. The price falls are in part thanks to an influx of U.S. LNG supplies. But customers of Cheniere Energy, which dominates U.S. production, have been feeling the pain from their long-term commitments for months due to a fixed pricing formula. Cheniere sells its LNG at 115% of U.S. gas futures plus a liquefaction fee of between $3.00 and $3.50 per MMBtu, with a few buyers paying less. At today’s prices, Cheniere LNG costs around $5.61 per MMBtu with the liquefaction fee, compared to $3.19 per MMBtu paid for natural and regasified gas at the Dutch hub, a benchmark for European prices. Yet U.S. LNG is still being sold to Europe, which received between 30% and 50% of all U.S. supplies between January and May this year, Refinitiv Eikon shipping data shows. Traders say the liquefaction fee is a sunk cost for offtakers because it still needs to be paid even if they cancel purchases, a risk known years ago when sales and purchasing agreements were signed with Cheniere. Because of Cheniere’s flexible destination clauses, buyers take the LNG and sell onwards to others or deliver it themselves to countries around the world. Traders say for price dynamics to batter deliveries into Europe, the spread between 1.15 times Henry Hub prices and European benchmarks would have to be too low to cover the variable costs of shipping across the Atlantic and regasification at terminals. That spread narrowed to below a dollar per MMBtu in mid-May for the first time since a brief dip beneath that level in 2017, Refinitiv data and Reuters calculations show.

It has since stayed there consistently, barely covering shipping costs at the start of June. Regasification costs, not disclosed publicly, can reach 20 cents per MMBtu in Iberia and even higher at floating terminals, although companies that have booked long-term capacities are likely to pay lower rates. It has helped that U.S. Henry Hub prices are also weak, slumping to a three-year low last week at $2.159 per MMBtu as clement weather and record-breaking shale production boosted inventories. Benign Asian LNG demand, starting last winter, has been a major factor behind Europe taking so much LNG. As Asian LNG prices fell with demand, the arbitrage between the Atlantic and Pacific basins disappeared, compounding the impact on Europe. In mid-July however, spot purchases of LNG will begin to focus on September deliveries, which is conventionally the beginning of rising Asian demand as Japan, South Korea and China start building stocks for winter. European pipeline gas prices also tend to rise with the onset of winter. Nevertheless, the seasonal pick-up may be weighed down by continuing bearish factors – rising supplies from new or expanded plants, stubbornly high gas stocks across the world and, in Asia, demand dented by economic headwinds.

https://seanews.co.uk/shipping/tanker/how-u-s-lng-plays-havoc-with-dutch-gas-and-asian-shipping/

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the Japan External Trade Organisation (JETRO) on the occasion of Prime Minister Nguyen Xuan Phuc’s participation in the 14th G20 Summit in Japan. The Japanese group is currently a strategic shareholder and holds 8 percent of stake in Petrolimex. The MoU is a foundation for the two sides to work together to develop a detailed report on LNG and gas in Vietnam, serving an upcoming LNG project of Petrolimex.In the coming time, Petrolimex will focus on building LNG import port in central Khanh Hoa province.Previously, Petrolimex also signed an MoU with the Electricity of Vietnam (EVN) on cooperation in developing clean energy. Accordingly, Petrolimex will supply LNG to power plants built by the EVN in Khanh Hoa.On this occasion, Petrolimex and the Japan Cooperation Centre Petroleum (JCCP) also inked an MoU, which is considered as a significant step in the bilateral cooperation that has been built up by Petrolimex and the JCCP since 2011.The cooperation focuses on human resources development and technical and technology cooperation in the medium- and down-stream oil and gas industry, as well as in other relevant fields, to meet the demand of real development and new energy trends.Through the MoUs, the parties will continue to strengthen sustainable strategic partnership for common development goals, contributing to bolstering the fine friendship and solidarity between Vietnam and Japan.

https://sggpnews.org.vn/national/vietnamese-japanese-firms-cooperate-in-lng-gas-research-82462.html

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• “Insurance to transit the Strait of Hormuz has actually increased 10-fold in the last two months as a consequence of the attacks,” Anthony Gurnee, CEO of Ardmore Shipping, told CNBC’s “Squawk Box Europe” on Tuesday.
• Every ship needs various forms of insurance, including annual war-risk cover as well as an additional ‘breach’ premium when entering high-risk areas.

Source: LNG Global

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“We’re very pleased to welcome the Port of Virginia as our first US port member. The US has vastly increased its LNG export capacity since the industry really took flight in early 2016, inspiring development in LNG bunkering capabilities on the East and West Coasts. The addition of the Port of Virginia to the coalition marks the climbing interest in LNG as a commercially viable, environmentally sustainable fuel for US domestic and international shipping.”
The Port of Virginia is an international hub port with connections to over 45 countries worldwide, and an extensive rail network across the United States. As part of its pledge to deliver operational excellence and sustainable growth, the port is currently undertaking a $700m expansion project to increase overall container capacity by 40%, as well as increasing lifting and docking capabilities across its six terminals. In March 2019, the port also established a working group to examine the benefit and scalability of LNG bunkers for maritime trade.
The SEA\LNG coalition unites key players from across the LNG marine value chain to address the barriers to the adoption of LNG; advocating for collaboration, demonstration, and communication on key areas such as regulation, emissions, infrastructure, and the economic case, to provide the confidence and demand required for an effective and efficient global LNG value chain for 2020 and beyond. LNG continues to provide a major advantage in terms of improving air quality and human health, further, LNG, in combination with efficiency measures being developed for new ships in response to the IMO’s Energy Efficiency Design Index (EEDI), will provide a way of meeting the IMO’s target of a 40% decrease in GHG by 2030 for international shipping. 
This partnership will provide a great opportunity to accelerate the adoption of LNG as a marine fuel and continue the progress that has been made to offer a safe, mature, commercially viable, long-term pathway towards a zero-emissions shipping industry.
The Port of Virginia is the second North American port alongside the Vancouver Fraser Port Authority, and the fifth global port alongside the Port of Rotterdam, the Maritime and Port Authority of (MPA) Singapore, and Yokohama Kawasaki International Port Authority (YKIP), to join the coalition’s growing roster of 36 members.

https://www.ajot.com/news/sealng-welcomes-port-of-virginia-as-first-port-in-the-us-to-join-membership[Edited]

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The LOI is based on a firm order for four 200 mmscf CNG carriers and options to build additional four. GEV’s CNG Optimum 200 ship design has received approval by the American Bureau of Shipping (ABS). “Executing our first LOI with a respected shipyard to deliver our first CNG Optimum contract is indeed a key milestone for GEV representing a major de-risking event,” said Jens Martin Jensen, a non-executive director of GEV. “Together with our advisors Clarksons and SeaQuest, we continue to focus on our preferred shipyards to refine their technical specification and capital cost improvements, and work towards a final draft contract,” Jensen added. Under the proposed shipbuilding contract, the first ship will be delivered on a 30-month construction schedule, then every four months for the following three ships. The major terms of a shipbuilding contract, including final contract price, payment terms, scope of supply, and delivery date, are subject to further discussion and agreement by both parties. According to Maurice Brand, CEO of GEV, the company will now accelerate its regional gas supply agreements that are being progressed across multiple regions. “Our target projects are either seeking to commercialise stranded gas assets, commercialise associated gas production, or provide a transport solution to high growth markets with bankable long-term offtake customers in place. Our ship capital cost for the 200MMscf is transformational for CNG to become a viable alternative to FLNG or sub-sea pipelines,” said Brand.

https://splash247.com/global-energy-ventures-to-order-up-to-eight-cng-carriers-at-cimc-raffles/

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The Vladimir Rusanov, an Arc7-classed LNG tanker that can plough through semi-cleared waters, left the Sabetta port on June 29 and is in the Chukchi Sea close to the Bering Strait, Refinitiv Eikon shipping data showed on Friday (July 5). The route is frozen for most of the year but is being increasingly used during the summer as ice clears quicker and for longer as the climate changes. Vessels are now able to cross the route without the use of ice-breakers to clear their path. Independent Russian gas producer Novatek began operations at Yamal, in northwest Russia, with the aim to ship some of the LNG eastwards with its Arc7 tankers. Last year, as the terminal was ramping operations it began in December 2017, four such tankers were sent eastwards. For Novatek, the route is attractive because it gives a much more direct access to the world’s largest LNG consumers in Asia. For other shipping companies, the route has the potential to cut the costs and time to access Asian markets. PetroChina, the international arm of Chinese state energy firm CNPC, is a 20 percent stakeholder as well as customer of Yamal, with French oil major Total holding another 20 percent stake. Novatek is expected to take a final decision to build Arctic LNG 2, another liquefaction and export facility next to Yamal, very soon after selling stakes to Total, two Chinese and two Japanese companies. The Northern Sea Route is attracting other shipping firms: Maersk, the world’s largest container shipping company, sent a test vessel along the route last summer while Dubai government-controlled DP World said last month it wanted to run ports along the route. Climate change activists lament the use of route however, because fear it will spoil pristine environments while encouraging shipping, a contributor to greenhouse gas emissions.

Source: LNG Global

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a midsize South Korean shipper, Hyundai Samho will build two 180,000-ton vessels, which will be used on a route between South Korea and Australia starting in 2022. The value of the deal was not revealed. This is the second time that H-Line has placed an order for LNG-fueled vessels with Hyundai Samho Heavy, an affiliate of industry leader Hyundai Heavy Industries Co. Last October, the shipper placed an order worth 140 billion won for two LNG-fueled bulkers. With the latest order, there will be seven LNG-powered vessels in South Korea. Demand for LNG-fueled vessels is expected rise due to a new International Maritime Organization (IMO) regulation. The IMO will lower the sulfur content cap for marine fuels from 3.5 percent to 0.5 percent in 2020. LNG is considered more environmentally friendly than the Bunker C oil used for marine fuel, since it produces lower levels of fine dust and sulfur oxides.

https://www.hellenicshippingnews.com/hyundai-heavy-unit-bags-order-for-2-lng-fueled-bulk-carriers/

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