Page 14 - AsianOil Week 03 2022

AsianOil NEWS IN BRIEF AsianOil

Introduction of an our core operating fleet to meet growing sidelines of a meeting between HRH Prince
Mohammed bin Salman bin Abdulaziz Al
market demand, we remain committed to
environmental-friendly maintaining significant fleet flexibility to Saud, Crown Prince, Deputy Prime Minister
execute our proven global-niche strategy
and Minister of Defence, and the President of
fuelled ethylene carrier and best serve our customers. Importantly, the Republic of Korea, HE Moon Jae-in.
The signings took place at the Saudi-
adding “green” LNG-fuelled capacity further
(vessel) strengthens ZIM’s position at the forefront Korean Investment Forum in Riyadh, an
event hosted by Saudi Arabia’s Ministry of
of reducing carbon intensity among the
ENEOS and Marubeni announce that ENEOS global liners and will enable us to assist our Investment which was also attended by the
and Marubeni have signed a memorandum customers in reducing their carbon footprint.” President of the Republic of Korea, Aramco
of understanding (MoU) for the introduction Mr. Glickman added: “This transaction President & CEO Amin H. Nasser, and senior
of an environmental-friendly ethylene carrier further demonstrates our prudent capital corporate executives from both countries.
(vessel) for ethylene delivery. allocation strategy, supporting our efforts to THE SAUDI ARABIAN OIL CO., January 18, 2022
ENEOS as a producer of ethylene, and strengthen our commercial prospects, deliver
Marubeni as a sales and logistics provider, industry leading profitability, and create
have supplied ethylene to customers over enduring value for shareholders.” OCEANIA
a long timeframe. The parties have jointly ZIM INTEGRATED SHIPPING SERVICES, January
considered carbon neutralisation in the 18, 2022 Woodside completes Pluto
ethylene supply chain in the MoU, and as a
first step, ENEOS and Marubeni have decided TEN announces delivery and Train 2 sell-down to GIP
to use a brand new environmental-friendly
ethylene carrier, which will be chartered by long-term charter of LNG Woodside has completed the sale of a 49%
Marubeni over the long term, for ethylene non-operating participating interest in
delivery commencing in 2024. carrier Tenergy the Pluto Train 2 Joint Venture to Global
The vessel will be the first ethylene carrier Infrastructure Partners (GIP).
equipped with a dual fuel engine (liquified TEN, a leading crude, product and LNG This follows Woodside’s announcement
natural gas/very low sulphur fuel oil) built for tanker operator, today announced the delivery on 15 November 2021 that it had entered
ethylene export from Japan, which can reduce of the 174,000cbm LNG carrier “Tenergy” into a sale and purchase agreement with GIP.
emissions of carbon dioxide by roughly 40% in South Korea and immediate charter to a On 22 November 2021 the Pluto Train 2
compared to conventional ethylene carriers. major end-user. Joint Venture announced its final investment
ENEOS and Marubeni intend to further The employment, of minimum five years decision, contemporaneously with the final
develop carbon neutralisation in the ethylene at an accretive floor rate with market-related investment decision for the Scarborough
supply chain in order to meet customer needs upside is expected to generate minimum gross development. Pluto Train 2 is a key
for low carbon and decarbonisation. revenues of about $100mn. component of the Scarborough development
ENEOS AND MARUBENI, January 14, 2022 “We are excited to continue expanding our and includes a new LNG train and domestic
presence in the ever-developing LNG space gas facilities to be constructed at the existing
ZIM announces new with the delivery and charter of this latest Pluto LNG onshore facility. The estimated
technology and environmentally friendly
capital expenditure for the development of
chartering agreement for vessel,” Mr. George Saroglou, COO of TEN Pluto Train 2 from the effective date of 1
commented. “TEN’s growth prospects and
October 2021 is US$5.6bn (100% project).
three 7,000 TEU LNG dual- cash flow visibility, with a minimum revenue GIP to fund its 49% share of capital
The joint venture arrangements require
backlog of over $1bn, with additional upside
fuel container vessels potential, enables management to pursue its expenditure and an additional amount
growth strategy and diversify further TEN’s
of construction capital expenditure of
ZIM Integrated Shipping Services announced footprint in the greater energy sector,” Mr. approximately US$822mn. Woodside’s capital
today a new eight-year charter agreement Saroglou concluded. expenditure will be reduced accordingly.
with a shipping company that is affiliated with TEN, January 18, 2022 The first LNG cargo from Pluto Train 2 is
Kenon Holdings Ltd.[1], according to which targeted for 2026.
ZIM will charter three 7,000 TEU liquefied Aramco signs 10 Woodside CEO Meg O’Neill said she
natural gas (LNG) dual-fuel container vessels, looked forward to developing Pluto Train 2 in
to serve across ZIM’s various global-niche agreements during Saudi- close collaboration with GIP.
trades for total consideration of approximately “GIP brings established, global capabilities
$400mn. The vessels will be constructed at Korean Investment Forum to the Pluto Train 2 Joint Venture which will
Korean-based shipyard, Hyundai Samho support delivery of a world-class project.
Heavy Industries and are scheduled to be The Saudi Arabian Oil Co. (Aramco) today “The development of Scarborough gas
delivered during the first and second quarters announced the signing of one agreement and through Pluto Train 2 is expected to deliver
of 2024. nine memoranda of understanding (MoUs) significant value to our shareholders, create
Eli Glickman, ZIM president and with leading Korean entities, which aim to thousands of jobs and deliver energy to
CEO, stated: “We are pleased to enter into advance its downstream strategy and support domestic and international customers for
another charter agreement to secure high development of low-carbon energy solutions, decades to come,” she said.
quality tonnage, with a focus on adding while creating new financing options for the WOODSIDE, January 18, 2022
extremely versatile vessels that could serve company.
us on multiple trades. As we work to secure The agreements were announced on the

P14 www. NEWSBASE .com Week 03 21•January•2022