Page 14 - GLNG Week 43

GLNG
NEWS IN BRIEF
GLNG
qualification, license, permits, and approval for the JV to be engaged in LNG storage, transportation, sales and other related businesses as soon as possible.
Shenergy Jiulian as the LNG supplier for the JV will guarantee the sufficiency and stability of LNG supply and give necessary supports for the respective businesses of the JV.
ZHONGHUA GAS HOLDINGS, October 25, 2019
Petronas signs time charter party with MISC and Avenir for a 7,500 BCM newbuild LNG bunker vessel
Petroliam Nasional Bhd (Petronas) through its subsidiary Petronas LNG Sdn Bhd (PLSB) achieved another milestone with the signing of the time charter party (TCP) with MISC Berhad and Avenir LNG Limited to charter a 7,500 cubic meters of LNG bunker vessel.
The collaboration positions Petronas among the first LNG bunkering service providers in the South East Asia region, moving Malaysia closer towards becoming a LNG bunkering hub. The LNG bunker vessel is capable of providing bunkering services to
LNG fueled vessels across Malaysia, and also transporting smaller scale LNG cargoes across the region.
Petronas Vice President of LNG Marketing & Trading and chief executive officer of PLSB, Ahmad Adly Alias said: “Petronas is always on the lookout to adopt new technologies through smart partnerships and promote LNG as a cleaner fuel and the fuel of choice for the marine industry”.
“We are also collaborating with various ministries, authorities and fellow industry players to co-develop the policies, guidelines and procedures for safe and effective bunkering operations in embracing the IMO 2020 regulations,” he added.
Petronas has set up the necessary infrastructure for LNG bunkering services at Pengerang, Johor and Sungai Udang, Melaka. The company is also actively working towards the establishment of LNG Bunkering Global Network through partnerships with port operators and international industry players. PETRONAS, October 29, 2019
PV Gas starts construction on Vietnamese LNG terminal
State-owned PetroVietnam Gas (PV Gas) has started construction on the Thi Vai LNG
terminal – the first such facility in Vietnam. The company said this week it had also signed financing deals for the first phase of the project to import LNG into Vietnam.
The first phase of the Thi Vai terminal will have a capacity of 1mn tonnes per year (tpy), and is due to enter service in 2022. A second phase will increase capacity to 3mn tpy by 2023.
The first phase of the project is expected to cost $285mn. PV Gas will finance 30% of the investment capital while loans will cover the remaining 70%.
“It is a strategic project because it represents an important of step of Vietnam in ensuring national energy security. The supply of LNG will help meet the rising demand of LNG in the domestic market,” the company said in a statement.
PV Gas said on October 29 that it had signed deals to borrow $80mn from HSBC and two Taiwanese banks – Mega Bank and Taipei Fubon Bank.
The company also entered into agreements to borrow VND2.1 trillion ($81.2mn) from two Vietnamese banks – Southeast Asia Commercial Joint Stock Bank and Vietnam Export Import Bank.
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Week 43 31•October•2019