Page 16 - GLNG Week 27

GLNG NEWS IN BRIEF GLNG

A severe gas glut in Asia and Europe paved “According to our estimates, the current The construction project was awarded
the way for cargoes to go to Latin America shortfall of gas for power generation in to an international consortium of China
as sellers look to avoid causing further Karachi and other major cities in Pakistan Petroleum Pipeline Engineering CO LTD,
oversupply in key gas markets. would range between 200 MMcf/d to 300 Hudong-Zhonghua Shipbuilding, Metron SA
After Argentina received no cargoes from MMcf/d”, he added. and Wilhelmsen Ship Management.
Qatar last year, six cargoes have gone to the He stressed that using natural gas rather
South American country and four more are than heavy fuel oil would significantly reduce
on the way, according to Refinitiv. Cyprus’ carbon footprint – by almost 30 per
EUROPE cent – and at the same time lower electricity
generation costs anywhere from 15 to 25 per
Foundation stone laid for cent.
ASIA

Pakistan’s Energas seeks LNG terminal EUROPE
The construction of a liquefied natural gas
approval to start spot LNG (LNG) terminal in Cyprus marks a milestone GTT receives Chinese tanker
in modern Cypriot history, President Nicos
imports Anastasiades said Thursday evening as he
lay the foundation stone for the facility in
Pakistan’s Energas has sought government Vassilikos, Limassol. order
approval to start importing LNG cargoes from “It is a project which places Cyprus in the France’s GTT said on July 9 that it received
July as the country looks to buy cargoes from orbit of a new energy era, opening up robust in June an order from the Chinese shipyard
the spot market to plug its energy deficit, prospects both for economic growth as well as Hudong-Zhonghua Shipbuilding (Group)
Energas CEO Anser Ahmed Khan told S&P for the broader prosperity of our country and Co. Ltd. for the tank design of three new LNG
Global Platts. its people,” he said, the Cyprus Mail reported. Carriers (LNGC1) on behalf of the Chinese
“We are waiting for a final nod from the Considered to be the single largest energy ship-owner COSCO Shipping.
regulator, allowing our company to import project on the island, the LNG facility will Each vessel will offer a capacity of 174,000
LNG,” Khan said June 26. He added that this feature a floating storage and regasification m3. GTT will design the tanks of the vessels,
would allow Energas to place prompt LNG unit, a jetty, mooring facilities, a pipeline which will be fitted with the NO96 L03+
cargoes into the primary capacity owned by on the jetty and other onshore and offshore membrane containment system, a technology
the government, which is currently unutilised, related infrastructure. developed by GTT. The delivery of the vessels
thereby reducing the government’s cash Construction is expected to be concluded is planned between the fourth quarter of 2022
liabilities. in 2022. Natural gas, to be imported in the and the second quarter of 2023.
The company is looking to partner with liquid form, will be reconverted into gas and Philippe Berterottière, Chairman and CEO
ExxonMobil to bring in the cargoes, Khan used to power electricity stations. of GTT, declared: “We are pleased to continue
added. Cyprus had separated the project into two our long-term partnership with Hudong-
“Imports through the private sector can parts: one for the LNG terminal itself, and Zhonghua and COSCO Shipping through
bring significant efficiencies and encourage another for the supply of the fuel. this new LNGC order.” GTT (Gaztransport
peer-to-peer competition for the benefit of The government is currently in the process & Technigaz) is an engineering company
the end consumers,” Khan said. “It is our of inviting expressions of interest for the expert in containment systems with cryogenic
understanding that the current government supply of LNG. Around 25 companies have membranes used to transport and store
wants to encourage the private sector to expressed an initial interest. The supply liquefied gas, in particular LNG (Liquefied
lead. There is no better time than now where contracts are expected to have a duration Natural Gas).
private sector can slowly help develop an between three to five years. GTT, July 9, 2020
efficient market for the benefit of all.” Energas
was formed in 2017 as a buyers’ consortium
to set up the country’s first and largest private
LNG terminal. The project intends to provide
LNG for associated businesses via a floating
storage and regasification unit.
“We hope to set up the terminal with
the aim to commission the same in 2022.
A project of this size and nature takes
substantial amount of time in securing
regulatory approvals,” Khan said, adding
that the terminal would help meet the
energy requirements of both industrial and
residential consumers.
Cities like Karachi are facing severe power
shortages. Consumers are subject to power
cuts, ranging from two to eight hours every
day, as power producers claim to be short of
gas and furnace oil supplies, Khan said.

P16 www. NEWSBASE .com Week 27 10•July•2020