Page 11 - GLNG Week 16 2021

GLNG NEWS IN BRIEF GLNG

has been employed since its delivery in 2013,
reflecting our long-standing relationship with
Equinor and the outstanding operational
performance of the Arctic Aurora and our
manager throughout the years.”
DYNAGAS LNG PARTNERS, April 21, 2021
KN calls for capacity
booking at Klaipeda LNG

terminal

KN (AB Klaipedos nafta), the operator of oil
and liquefied natural gas (LNG) terminals,
is launching an annual procedure –Klaipeda
LNG terminal capacity allocation for the new
gas year, which starts on October 1st, 2021.
“This gas year has been intense when it
drive projects with potential to decarbonise consumption design but also have the option comes to the operation of the LNG terminal.
the transportation of oil. to be converted or retrofitted to use either Last year during the capacity allocation
The vessels will be LNG-ready and LNG or ammonia as a low emission fuel of procedure the most capacity was booked in
consequently there is an ability to cut CO2 the future. As there are no such alternatives the entire history of the LNG terminal. At the
emissions compared to current market in the second-hand market today, and with end of the gas year a significant amount of
standards. Furthermore, Euronav is working rising steel prices and constraints over yard additional capacity was booked. This was due
in cooperation with the yard and classification capacity to 2024, we wanted to seize this to the low LNG prices on the market and LNG
society to include an Ammonia-ready opportunity to rejuvenate the fleet with two or buyers in Europe actively took advantage. In
notation with the potential to reduce CO2 three modern VLCCs that will replace older the first quarter of 2021 a peak in the Asian
emissions to zero when technology, logistics and less efficient ships that will leave our fleet spot market was observed, as well as the
and the regulatory framework allows for around the same time of their delivery.” diversion of some LNG cargoes to exactly
it. This should be defined by the end of the EURONAV, April 22, 2021 that region, though the supply of natural gas
summer. In addition to being significantly through the Klaipeda LNG terminal remains
more fuel efficient compared to the vessels Dynagas LNG Partners important to its customers. This year may be
they will replace, the newbuildings will also be important for customers, who are planning
fitted with Exhaust Gas Scrubber technology announces new time their activities and willing to reserve LNG
and Ballast Water Treatment Systems. terminal capacities also due to the planned
These market leading units will be charter for the LNG carrier completion of the GIPL connection between
delivered during Q4 2022 and Q1 2023, Lithuania and Poland, which opens up
costing $186mn en-bloc, and including Arctic Aurora additional market potential in 2022,” notes
$4.2mn in additions and upgrades to the Mindaugas Navikas, chief sales officer at KN.
standard specifications. Euronav also has the Dynagas LNG Partners, an owner and During the current 2021 gas year (counting
option to contract a third VLCC with the operator of liquefied natural gas (“LNG”) from October 1, 2020 to September 30, 2021),
same specifications that would be delivered in carriers, today announced that it has entered 41 gas carriers were received at the LNG
the second quarter of 2023. into a new time charter party agreement with terminal (compared to 42 serviced last year),
While contracting and orderbook-to-fleet Equinor for the employment of the 2013 built and another nine gas carriers are expected
ratio remains at an historical low in the tanker ice class LNG carrier Arctic Aurora. to reach Klaip?da by the end of the gas year.
segment, elevated contracting activity from Under the new time charter agreement, During this period, 1.73mn cubic metres
other segments has reduced available capacity the Arctic Aurora is expected to be delivered of LNG were delivered to Klaipeda, most of
to build VLCCs for the upcoming years to Equinor in September 2021 in direct which (82%) were delivered from the USA.
at a time when the sector needs to replace continuation of the current charter party with During the LNG terminal capacity allocation
maturing vessels with more environmentally Equinor, meaning there will be no lapse of procedure announced in April of 2020, about
friendly designs. time between the current and the new time 8.4 TWh of terminal capacity were booked,
Hugo De Stoop, Euronav CEO said: “As charter. The term ‘in direct continuation’ does and almost 12 TWh were booked during
a market leader in our segment, Euronav not refer to the contracted income. the current gas year, a total of 20.3 TWh
acknowledges our responsibility to support The time charter period is about 2 years (compared to 22 TWh the period before).
innovation towards decarbonising the and the annual gross revenues from the time “This year, we set ourselves the task to
transportation of oil, while protecting charter agreement are expected to be about answer the question what long-term capacity
and building value with the capital our $21.5mn. allocation and tariffication mechanism is
shareholders have entrusted us with. With this Tony Lauritzen, chief executive officer of the most suitable for operations of Klaipeda
order Euronav is tangibly driving innovation Dynagas LNG Partners, commented: “We are LNG terminal. For this reason, a study will be
and investing in the energy transition. These very pleased to enter into this new agreement carried out by external experts comparing the
ships are not only the latest generation of low with Equinor, with whom the Arctic Aurora capacity allocation and pricing mechanisms of

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