Page 20 - AsianOil Week 22

AsianOil NEWS IN BRIEF AsianOil

IndianOil cuts retail price of Containment system, with no restrictions on
SOUTH ASIA newbuildings will feature an LNT A- BOX®
SunSource to develop solar LPG in Delhi partial loading, and have a fully laden draft of 7.8
meters.
project for Indian Oil The Retail Selling Price of LPG in Delhi trading, we redouble our efforts on developing
“Now that Saga Dawn is successfully
market for the month of May 2020 was
SunSource Energy, a leading provider of reduced from Rs. 744 to Rs. 581.50 per new projects to grow our fleet of small to
solar-based energy and storage solutions to cylinder for all consumers in line with drop in midsized vessels. We believe the market needs
commercial and industrial organizations, International prices. more innovative projects like the one VLNG
announced that it will develop a solar For the month of June, 2020, there has been is developing and we are very pleased to
power plant for Indian Oil Corporation an increase in International prices of LPG. contribute to this exciting project by providing
Limited (IndianOil), one of India’s largest Due to increase in the prices in international an optimized shipping solution.” David Wu,
corporations. The scope of the project will market, the RSP of LPG in Delhi market will be Founder and CEO of Saga LNG Shipping.
include the complete EPC of the plant and its increased by Rs.11.50 per cylinder. “We at VLNG have a strong belief that
Asset Management for a period of 5 years. The However, this increase will not impact the tapping into the regions latent gas demand
project is expected to generate over 22 million Pradhan Mantri Ujjwala (PMUY) beneficiaries, needs innovation in terms of strategy and
kWh of electricity over its lifetime and will as they are covered by the Pradhan Mantri Garib implementation. We are excited to see the
be developed across 10 buildings in the city Kalyan Yojana, and entitled to a free cylinder till progress of Saga LNG in providing custom
of Vadodara at IndianOil’s flagship Gujarat June 30th. made supply solutions to draft limited ports,
Refinery and its township. This is one of the INDIANOIL, May 31, 2020 a necessity in order to access the distributed
most complex refineries in India with about demand centers without dependence on
40 operating units and has a capacity of 13.7 VLNG, Saga LNG sign MoU third party infrastructure. We look forward to
MMT per year. jointly working with them to open up newer
IndianOil, a Maharatna company, is for midsize newbuildings geographies for LNG supply.” Mayank Garg,
India’s premium integrated energy major and Managing Director of VLNG.
is the highest-ranked Indian Public Sector Saga LNG Shipping (Saga LNG) based out SAGA LNG June 1, 2020
Undertaking (PSU) in the Fortune ‘Global 500’ of Singapore and Venerable LNG (VLNG)
listing for 2019. This project will be SunSource headquartered in India have signed a
Energy’s third project for IndianOil which will Memorandum of Understanding (MoU) on SOUTHEAST ASIA
help the corporation in its sustainability goals May 26, 2020 with the aim to bring LNG to
and support India’s aspiration to transit to clean a terminal and infrastructure project under Singapore’s first LNG
energy. Once developed, the project will offset development by VLNG. The project targets
over 900 tonnes of CO2 emission every year. new end consumers from different storage bunkering vessel launches
SunSource had earlier developed an innovative hubs in the Eastern part of India.
100 kW floating solar project at IndianOil’s The Bay of Bengal’s shallow coastline FueLNG, a joint venture between Keppel
Panipat Refinery and a 1 MW rooftop solar dictates a bespoke shipping solution, for which Offshore & Marine Ltd (Keppel O&M) and
project at the Assam Refinery. Saga LNG will be providing one or more Shell Eastern Petroleum (Pte) Ltd, is pleased
SUNSOURCE ENERGY, June 2, 2020 LNT45-S design LNG carriers. The 45,000m3 to announce the launch of Singapore’s first
LNG bunkering vessel in Keppel Nantong
Shipyard in China. She was moved from land
to water on 28 May 2020.
Construction of the 7,500m3 LNG bunkering
vessel is progressing smoothly and is on schedule
to be completed in 4Q2020.
The LNG bunkering vessel will enable
FueLNG to be the first in Singapore to provide
regular ship-to-ship LNG bunkering services
within the Singapore port. It supports initiatives
implemented by the Maritime and Port
Authority of Singapore (MPA) to increase the
adoption of LNG as a marine fuel, facilitating the
growth of Singapore as a global LNG bunkering
hub.
FueLNG’s bunkering vessel will further
enhance the LNG bunkering infrastructure
in Singapore and support the growth of the
industry through the development of best
practices such as technical standards. The
expansion of the LNG bunkering infrastructure
will also create more opportunities in adjacent
sectors in Singapore, such as ship design,
construction, operation and repair, as well as in
LNG trading.

P20 www. NEWSBASE .com Week 22 04•June•2020