Page 20 - GLNG Week 07

GLNG
NEWS IN BRIEF
GLNG
Richard Schröder, said.
“As one of the few shipyards in Europe
with experience in constructing of LNG- fuelled vessels, we notice a rising interest
in newbuilds and retro ts equipped with environmentally-friendly propulsion,” added Fassmer’s project head, Christian Schmidt. “Due to the successful co-operation with Nauticor we have been able to prepare and conduct the LNG bunkering e ciently and safely. ereby, additional incentives are created for shipping companies to use LNG as fuel. Not only do they bene t from the environmental advantages of LNG but also from the economic gains generated by using the fuel.”
Nauticor and Fassmer rst worked together in 2015 when the newbuild ferry Helgoland – the rst LNG-fuelled ferry to be built in Germany – received its rst LNG from Nauticor on Fassmer’s premises.
Russian gas majors
Gazprom and Novatek
reshuffle 10% stake
Russian natural gas giant Gazprom plans
to transfer is 9.99% stake in the country’s second-largest natural gas producer and LNG runner-up Novatek from a Cyprus fund Gaz n Cyprus Limited to Russian Gazprom Capital, according to Interfax.
e reshu e was linked by the analysts to mitigation of risks from the renewed claims against Gazprom by the Ukrainian state
gas company Na ogaz. In the latest move
Na ogaz now seeks $8bn from Russia in compensation for the seizure of its assets in Crimea in early 2014.
“In our view, Gazprom may be transferring assets to a territory that will be harder for Ukraine to reach in case Na ogaz becomes more active with its lawsuits,” BCS Global Markets commented on February 18.
Should Gazprom consider selling the stake on the market in order to fund its dividend pledges, Novatek will face pressure, despite the increase in the free ow, BCS GM warns, while seeing such scenario as unlikely. BCS GM sees the news as neutral for both names having no impact on respective capitalisations at this point.
MIDDLE EAST
Sparrows Group’s cranes
to support Qatargas’ North
Field expansion
Sparrows Group has secured a contract to manufacture three cranes for Qatargas’ North Field expansion project.
e project, awarded through engineering rm McDermott International, will see the rm deliver two of its EC750 cranes for installation on wellhead platforms, as well as an EC1000 crane for a riser platform.
North Field is the world’s biggest single non-associated natural gas eld, located o shore north-east Qatar peninsula. e eld has recoverable reserves of more than 900
trillion standard cubic feet, or approximately 10% of the world’s known reserves. e expansion project includes the development of four new LNG trains and eight wellhead platforms, where 80 new wells will be drilled.
e cranes, which will be manufactured
to API speci cation 2C 7th edition, are expected to be completed in Q4 of this year. On delivery to Batam, Indonesia, where
the platform topsides are currently being constructed, Sparrows will oversee installation and commissioning of the cranes.
Once on-location in the North Field, Sparrows’ local team in Qatar will support the continued operation of the cranes. Spare parts will be stored locally, ensuring future maintenance work can be carried out e ciently.
Stewart Mitchell, Sparrows chief executive o cer, said: “We have a strong presence in Qatar and our ability to provide ongoing support in-country for safety critical equipment was a key factor in us securing this project. e award is a testament to our experienced local workforce who continue
to deliver operational excellence for our customers.
“ e North Field expansion is a key project for the Middle East and will see
LNG production capacity increase by 43% upon completion. We’re excited to be part
of this key development in Qatar and look forward to working closely with Qatargas and McDermott.”
Sparrows currently employs approximately 300 people across the Middle East at its bases in Qatar, Saudi Arabia, Abu Dhabi and Dubai. SPARROWS GROUP, February 19, 2020
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Week 07 20•February•2020