Saudi Aramco Shipping Unit Expresses Interest in LNG Tankers
Bahri, Saudi Aramco’s shipping arm, has issued an expression of interest (EOI) to charter as many as 12 LNG tankers from 2025, according to a new Reuters report. Citing industry sources, Reuters said that the EOI is likely part of Saudi Aramco’s expansion into LNG trading as it boosts gas production and considers expanding its LNG investments.
Reuters said that no further details were immediately available about the inquiry, and that it may not turn into a fully-fledged deal. Bahri, Saudi Arabia’s national shipping carrier, owns 90 vessels, including 43 VLCCs (very large crude carriers) and 36 chemical/product tankers.
Saudi Aramco is making moves to boost its profile in gas, developing its own resources and partnering in developments elsewhere. In May, the company signed a 20-year deal to purchase 5 mtpa of LNG from Phase 1 of the Port Arthur export terminal. The proposed project, located in Port Arthur, Texas, is expected to include 2 liquefaction trains, up to 3 LNG storage tanks, and associated facilities that should enable the export of approximately 11 mtpa of LNG on a long-term basis.
Port Arthur has potential expansion capabilities of up to 8 liquefaction trains, or approximately 45 mtpa of capacity, making it one of the largest LNG export projects in North America. As part of its agreement with Sempra Energy, the majority owners and operators of the project, Saudi Aramco agreed to buy a 25% equity stake. Sempra is expected to take final investment decision early next year.
Saudi Aramco is also building its LNG operations in Singapore, and in November it agreed to a $3-billion deal with the Bangladesh Power Development Board to develop a 3,600-MW LNG-based power plant and terminal in Bangladesh. The location of the power plant and regasification terminal depends on the completion of a feasibility study.
Baker Hughes To Supply LNG Compressors to Qatar Petroleum
Baker Hughes scored what it said is among the largest LNG deals it has secured in the past 5 years. The compressors will be installed in Qatar Petroleum’s North Field East LNG trains, boosting Qatar’s total LNG production capacity from 77 mtpa to 110 mtpa.
China Planning Railway To Transport Vaca Muerta Production
PowerChina said railway plans are moving forward under Argentina’s current administration and China could provide the financing for the $1.2–1.5 billion project.
Lake Charles LNG Projects Needs Another 5 Years To Build
Global market conditions have impacted Magnolia LNG’s ability to reach FID. Kinder Morgan’s pipeline project also depends on an FID for the Magnolia LNG project.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
21 September 2020
22 September 2020
17 September 2020
16 September 2020
21 September 2020