Page 12 - GLNG Week 41 2021

GLNG NEWS IN BRIEF GLNG

AFRICA AMERICAS generate approximately $36.5mn of revenue.
The seasonal and cyclical strength of the
Equatorial Guinea LNG Commercial update: FLNG LNG carrier segment remains encouraging.
Increasing price arbitrages between LNG
plant exports disrupted by Hilli – Hedged part of TTF trading basins is driving up LNG freight rates
in the short term. Increasing demand for
incident at Alba gas field linked production for Q1 LNG freight together with new environmental
regulations impacting effective supply of
Equatorial Guinea’s LNG plant, the Punta 2022 LNG carriers from 2023 add support to the
Europa project operated by US-based medium and long-term outlook. Charterers
Marathon Oil and fed by the Alba gas field, Golar is pleased to announce that it has are increasingly looking for longer term
has seen operations disrupted due to an entered into swap arrangements to hedge part charters to secure shipping availability.
unspecified incident on September 26. of its TTF price exposure for the incremental GOLAR, October 13, 2021
“Partial operations have been maintained, 0.2 mtpa Train 3 production for Q1 2022 at
but the Alba Plant is unable to process a TTF price of $28 per mmBtu. With TTF Dover announces
wet gas until normal operations resume,” gas prices averaging $28 per mmBtu during
a representative of the independent E&P Q1 2022, the additional capacity utilisation acquisition of LIQAL, a
company told Energy Voice. is expected to realise $21.2mn of net income
A Ministry of Mines and Hydrocarbons to Golar for the quarter. This implies a leading provider of LNG and
delegation visited the site on October 6, gross tolling fee of $11.4 per mmBtu for the
and expects the plant to return to normal incremental production. For each $1.00 per hydrogen fuelling solutions
operations on October 20, according to mmBtu change in TTF, net income realised by
Equatorial Guinea’s official news agency. Golar will increase (or decrease) by $0.4mn Dover today announced that it has completed
New York-listed Marathon has a 52% stake for unhedged volumes during Q1 2022. the acquisition of LIQAL, a turnkey supplier
in the Alba Plant, an onshore LNG processing Golar is also realising increased net of liquefied natural gas (LNG) and hydrogen
plant on Bioko Island. It processes gas from income from the Brent link component refuelling equipment and solutions, and micro
the Alba field, extracting liquids from the gas of production from trains 1 and 2. Golar’s liquefaction solutions. LIQAL is now part of
stream. realised share of net income increases by the Dover Fueling Solutions (DFS) operating
Although the Alba gas facility produces a $2.7m for every $1 per barrel that Brent is unit within Dover’s Fueling Solutions
relatively small 3.7mn tonnes per year (tpy) above $60 per barrel. Assuming the current segment.
of LNG, the disruption comes at a time when oil price of approximately $83/bbl for 2022, Founded in 2014 and based in the
gas prices in Europe and Asia are trading near net income realised from the oil derivative Netherlands, LIQAL provides customers
record highs, Reuters reported. will be approximately $15.5mn for Q1 2022 or with safe, efficient, and innovative alternative
$62mn for the full year. fuel solutions that are currently experiencing
Golar has recently secured a one-year fixed robust adoption, particularly in Europe.
time charter for one of its carriers. This will LIQAL’s mission has been focused on
accelerating the decarbonisation of fuels used
in transportation. Its intelligent, integrated
solutions offer high-quality standards,
operating flexibility, and a low total cost of
ownership throughout the life span of asset
operation.
“DFS is a global leader in solutions for
retail fuelling and a recognised technology
pioneer. LIQAL brings a portfolio of LNG
and hydrogen products and solutions, as
well as significant innovation capabilities
and proprietary technologies that will
position DFS to support its customers who
are actively investing in lower-carbon fuels,”
said DFS President, David Crouse. “With
the acquisition of LIQAL, and our strategic
partnerships with EV charging providers, DFS
is well-positioned to help our customers adopt
these prevailing alternative fuel options, which
enhances our position as a preferred partner
offering simple, safe, and efficient end-to-end
site experiences for consumers, as well as the
convenience retail and fleet industries.”
Terms of the transaction were not
disclosed.
DOVER, October 15, 2021

P12 www. NEWSBASE .com Week 41 15•October•2021