Page 13 - GLNG Week 38 2021

GLNG NEWS IN BRIEF GLNG

New Fortress Energy have completed a joint development project Gazprom and Shell review
(JDP) to develop an optimized LNG carrier
announces $725mn design. current issues of joint
The JDP resulted in a new LNG carrier
shipping term loan facility hull design, as well as optimization of activities
the machinery, electrical and piping
New Fortress Energy Inc. (NFE) announced arrangements. The project further A working meeting between Alexey Miller,
today that it has executed a term loan developed new rule requirements and Chairman of the Gazprom Management
facility secured by eight Company vessels introduced a simplified approvals process. Committee, and Ben van Beurden, Chief
The company made an initial borrowing The JDP also looked to address growing Executive Officer of Royal Dutch Shell, took
of $430mn and can borrow up to $725mn industry demand for crew accommodation place on September 22 via a video link.
under the shipping facility. and working area designs which can The parties reviewed current issues
“Our investments in LNG terminals help mitigate the spread of infectious pertaining to their joint activities, including
and power infrastructure bring significant diseases such as COVID-19. The project the Sakhalin II project and the efforts being
economic and environmental benefits to our has developed crew accommodation undertaken by the two companies to reduce
expanding customer base.” and ventilation designs that meet their carbon footprint across the natural gas
The shipping facility has a three-year the requirements of the ABS Guide value chain.
term, and loans issued under the facility for Mitigation of Infectious Disease Alexey Miller and Ben van Beurden paid
will bear interest at an annual rate equal to Transmission On Board Marine and particular attention to the situation in the
LIBOR plus 3.00%, subject to a 0.0% LIBOR Offshore Assets. European gas market.
floor. The Shipping Facility is prepayable at “As the leading Class for gas carriers
par at any time without penalty. globally, ABS has the experience and the GAZPROM
Net proceeds of the shipping facility insight to work with HHI to shape the
will be used to fund the development and LNG carriers of tomorrow. More efficient OMV Petrom successfully
construction of the Company’s energy vessels will be key to achieving more
infrastructure projects around the world. sustainable operations. ABS is committed completed the first delivery
“We continue to execute the plan to ensuring our support for shipyards and
we previously laid out to facilitate our vessel operators continues to evolve to of LNG in Romania
growth with asset-level financings. This keep pace with technological developments
facility provides additional capital for us and the needs of the industry,” said Patrick OMV Petrom, the largest energy company
to build additional LNG terminals and Ryan, ABS Senior Vice President, Global in South-Eastern Europe, made the
infrastructure around the world,” said New Engineering and Technology. first LNG delivery to Damen Shipyards
Fortress Chairman and CEO Wes Edens. “The environment around the shipping Mangalia, the largest shipyard in South-
“Our investments in LNG terminals and industry is changing fast and the pandemic Eastern Europe. The product was used to
power infrastructure bring significant situation has affected the world, but there fuel a ship equipped with LNG engines. It is
economic and environmental benefits to our are still technologies that can be enhanced the first ship of this type, built in Romania,
expanding customer base.” to make life safer. As the result of this JDP, in the Damen Shipyard, in Mangalia.
HHI will design and build more efficient Radu Căprău, member of the OMV
NEW FORTRESS ENERGY and secure vessels benefitting both the Petrom Executive Board, responsible
environment and human beings,” said for Downstream Oil: “The transport
ABS and HHI design Seung Ho Jeon, HHI’s Executive Vice sector, which plays an essential role in
President and head of initial design office.”
the mobility of goods and people, is also
optimised LNG carriers ABS one of the sectors in which efficient and
comprehensive emissions reduction
ABS and Hyundai Heavy Industries (HHI) measures are needed. OMV Petrom is and
will continue to be part of the solution,
with a mixed products portfolio that meets
the mobility needs of our country. The first
LNG delivery in Romania is another step
we are taking in expanding the offer of low-
emission transport products”.
Franck Neel, member of the OMV
Petrom Executive Board, responsible
for Downstream Gas: „In the context of
the energy transition, the use of LNG in
transportation and industry can lead to a
significant reduction in carbon emissions
and pollutants. Romania has a significant
potential for natural gas, and capitalizing
on it, liquefaction included, opens new
horizons for the Romanian economy
and contributes to the climate agenda

Week 38 24•September•2021 www. NEWSBASE .com P13