Page 15 - GLNG Week 09 2022

GLNG NEWS IN BRIEF GLNG

GTT obtains tank design Slovak state utility in the world, GIIGNL, an international
association of 84 companies involved in
order for a new LNG carrier company SPP buys LNG to more than 90% of the world’s liquefied
natural gas (LNG) trade, issued the following
from Daewoo Shipbuilding increase its gas reserves statement:
The potential reduction or disruption of
& Marine Engineering amid Ukrainian conflict Russian natural gas supplies to Europe and the
growing volatility of energy prices observed in
GTT announces that it has received an order Slovak state-owned Slovensky Plynarensky the last few months have become major issues
from its partner the Korean shipyard Daewoo Priemysel (Slovak Gas Industry, SPP) which could jeopardise economic stability in
Shipbuilding & Marine Engineering for the purchased LNG for the first time, said SPP the European continent, with knock-on effects
tank design of a new LNGC. spokesperson Ondrej Sebesta, the Slovak in other regions.
As part of this order, GTT will provide the News Agency reported. Without supportive policy and
design and associated engineering services “Thanks to this supply, we will have a regulatory frameworks creating an adequate
for the tanks of the vessel, which will offer comfortable abundance of gas until the end environment for long-term agreements and
a capacity of 174,000 m3. The tanks will be of March or the end of the heating season and investments, many countries will be at risk
fitted with the GTT NO96 GW membrane not only for households but also companies, of energy shortages and will be forced to
containment system, a technology developed without any interruptions,” said Economy burn increasing amounts of coal and oil,
by GTT. Minister Richard Sulik, according to the news compromising the attainment of net-zero
The vessel is scheduled for delivery in the agency. ambitions.
third quarter of 2024. As reported by the news agency, another Since the first LNG exports from Algeria
GTT, March 03, 2022 Slovak partly state-owned gas transmission to the UK and France in 1964 and 1965,
operator Eustream said it does not report any commercial LNG trade has expanded
drop in gas flow. On the contrary, on March to involve 44 importing markets and 20
EUROPE 1, the company reported that more than exporting countries at the end of 2021, with a
80mn cubic metres of Russian natural gas has fleet of 640 LNG vessels.
Croatia’s Krk LNG terminal been flowing into Slovakia through the Velke of the international natural gas trade.
LNG now accounts for more than half
Kapusany entry point every day. The situation
to secure enough natural has not changed at the beginning of March. LNG’s safety, reliability and flexibility are
widely recognised, and LNG has become an
At the beginning of February, the flow
gas amid sanctions on amounted to 50mn-60mn cubic metres, indispensable energy to support the world’s
decarbonisation by enabling the integration
followed by a drop to 20mn after February 10,
Russia, PM says while now the flow reached the volume from of renewables and the substitution of coal and
other traditional fuels in power and hard-to-
November and December last year.
Croatia’s floating LNG (FLNG) terminal Eustream is majority owned by the Slovak electrify sectors.
off the island of Krk will secure enough gas government (51%), the remaining 49% and LNG cargoes can be shipped or redirected
in case Russia stops natural gas deliveries management control is held by the Czech to destinations where they are most needed
following the sanctions imposed on Moscow Energy and Industrial Holding (EPH), owned based on price signals, allowing importing
after it invaded Ukraine, the government sad by Czech-Slovak billionaires Daniel Kretinsky countries to quickly and flexibly meet their
in a statement on February 27 and Patrik Tkac. various energy requirements. Following
The terminal, with annual import capacity the Great Earthquake of 2011 in Japan,
of 2.6bn cubic metres, is a strategic project for nuclear power fell to zero in 2014, but the
Croatia as it will improve security of supply Facilitating long-term country was able to make up the shortfall
for Croatia and other countries in the region. by importing more cargoes from the global
Prime Minister Andrej Plenkovic said agreements, investments LNG market in order to increase natural
in the statement that the terminal secures gas-fired generation. The flexibility provided
Croatia alternative sources of natural gas and all possible measures by LNG diversions helped keep the power
supplies. sector reliable. As contractual conditions in
Croatia’s Economy and Sustainable in liquefied natural gas LNG become more flexible and as liquidity
Development Minister Tomislav Coric said increases, the free play of LNG market forces
that the prices of gas and basic fuels in Croatia (LNG) is critical to energy combined with stable political support will
would not rise despite the war in Ukraine, and contribute to energy supply security and
that the energy supplies will not be disrupted. security, economic stability diversification.
Croatia has frozen fuel prices due to the GIIGNL, March 03, 2022
hike of energy prices. and decarbonisation

As energy security is of increasing concern

Week 09 04•March•2022 www. NEWSBASE .com P15