Page 10 - GLNG Week 16 2021

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Zvezda begins work on third LNGC

PIPELINES & RUSSIA’S Zvezda shipyard began construction also use LNG as fuel. They are 300 metres in
TRANSPORT last week on its third ice-class Arctic LNG carrier length and 49 metres in width, and are capable
(LNGC), which will be put to use at Novatek’s of passing through ice up to 2.1 metres thick
Arctic LNG-2 liquefaction project. without assistance.
Zvezda has received orders to build 15 such French engineering group GTT is providing
vessels for Arctic LNG-2, whose three 6.6mn liquefaction technology for the vessels, while
tonne per year (tpy) trains are expected online Saphir, a joint venture between Rosneft and
in 2023, 2024 and 2026. Russia has never before General Electric, is supplying their rudders and
built such tankers. It cut the steel for the first propellers.
LNGC in the fleet last November, and for the sec- Novatek secured all necessary financing
ond in January this year. The first five tankers are for the fleet’s development last September. The
due to enter service in March-December 2023, company’s joint venture with state shipowner
followed by five more in September-December Sovcomflot obtained the funding from state
2024, and the remaining five in September-De- development bank VEB.RF. Chartering arrange-
cember 2025. ments were also finalised at that point.
Zvezda is relying on technical support from Russia is eager to develop its domestic ship-
South Korea’s Samsung Heavy Industries. The building sector, to support its economy and
shipyard is owned by Russian state concerns reduce reliance on foreign shipyards in strategi-
Rosneft, Rosneftegaz and Gazprombank. cally important sectors like oil and gas. In addi-
The LNGCs in the fleet will each have a stor- tion to LNGCs, Zvezda is also building a series of
age capacity of 172,600 cubic metres, and will crude oil tankers for Russian customers.™

NEWS IN BRIEF

AMERICAS will continue into the remainder of 2021 and S&P Global Platts.
beyond.” LNG supplies to Greece in the first quarter
Stabilis Solutions pre- was largely driven by broad-based growth of 2021 more than halved year on year, as
The year-over-year revenue increase
pipeline deliveries via the SGC began and sky-
announces record quarterly including growth in power generation high spot LNG prices saw cargoes diverted to
projects, continued expansion of the
Asia, it reported.
revenue and LNG deliveries company’s Mexico operations, and increased to take 1bn cubic metres (bcm) per year of gas
Greek state importer DEPA is contracted
activity with aerospace customers.
Stabilis Solutions, a leading provider of energy These preliminary results are subject to the from Azerbaijan. Italian buyers have taken
transition services including hydrogen and completion of the customary quarterly closing approximately half of their contracted TAP
liquefied natural gas (LNG) fuelling solutions, and review process and may be subject to volumes so far in 2021.
today announced record preliminary first change. “Greece can therefore be expected to be
quarter 2021 revenues in the range of $17.5- STABILIS SOLUTIONS, April 20, 2021 taking a little over 1mn cu m/d via TAP so far
17.8mn. This revenue range is a 29-30% this year,” S&P added in its analysis.
increase compared to $13.7mn in the fourth Azerbaijan’s SGC-transited gas flows as far
quarter of 2020 and a 26% to 29% increase EUROPE as Italy via Georgia, Turkey, Greece, Albania
compared to $13.8mn in the first quarter and a seabed link laid under the Adriatic Sea.
of 2020. The first quarter of 2020 was the Flows of Azerbaijan gas to
company’s previous record revenue quarter.
Stabilis delivered 13.4mn gallons of LNG Greece, Italy via TAP still in Euronav orders two
during the quarter, a 29% increase compared
to the fourth quarter of 2020 and a 12% ramp-up phase but impacts newbuild VLCCs and one
increase compared to the first quarter of 2020.
“Stabilis is proud to report record revenues felt in LNG market option to add a third
for the quarter, beating our prior record
quarter, the first quarter of 2020, by well over Flows of Caspian Sea gas to Greece and Euronav today announces that it has entered
25%,” said Jim Reddinger, Stabilis Solutions’ Italy from Azerbaijan via the Trans Adriatic into an agreement with the Hyundai Samho
president and chief executive officer. “The Pipeline (TAP)—the final piece of the yard for two VLCC newbuilding contracts.
energy transition is underway and Stabilis’ Southern Gas Corridor (SGC), which went Sourcing fleet renewal from the newbuilding
position as a premier supplier of clean LNG operational at the end of 2020—remain in the market has primarily been driven by the
and hydrogen fuelling solutions is driving ramp-up phase, but their impacts are already aim of Euronav to be at the forefront of
significant growth. We believe that this trend being felt in the LNG market, according to innovation in the energy transition and to

P10 www. NEWSBASE .com Week 16 23•April•2021