Page 13 - AsianOil Week 36 2022

AsianOil NEWS IN BRIEF AsianOil

high evaluation of MOL’s track record in the
LNG carrier business for China, its extensive
experience in building LNG carriers in China,
and its performance in safe cargo transport
and safe operation of vessels.
China is increasingly shifting its energy
sources from coal and oil to natural gas in
response to growing awareness of the need for
a low-carbon, decarbonized society, and in
2021 became the world’s largest LNG importer
for the first time. China’s LNG demand is
expected to grow even more in the future.
The MOL Group is committed
Clean Energy Complex in Batangas City. I As a result of the placement Rosneft will to addressing environmental issues
would like to thank First Gen for showing at least double the nascent Russian yuan- in accordance with “MOL Group
their further support and commitment to denominated bond market, following a Environmental Vision 2.1,” and promote
Batangas Province by renaming the FSRU total of CNY10bn placements from Rusal low- and decarbonisation to achieve net zero
that they will be chartering from BW LNG, as and Polyus. Mining and metals company greenhouse gas (GHG) emissions by 2050. In
the ‘BW Batangas’, and I salute BW LNG for Metalloinvest of sanctioned billionaire Alisher addition, MOL group continually contributes
showing their support to Batangas by readily Usmanov also reportedly have planned a as a multimodal transport group company
agreeing to do so. This will allow Batangas to CNY2bn bond issue. that responds to the continually growing LNG
maintain and even increase its solid position “We care about alternative financing business in China by further deepening and
as the power base of the Philippines utilizing opportunities, and the Chinese yuan as an developing its know-how and track record in
natural gas as a bridge fuel as we build instrument can allow us to get liquidity, China.
more renewable energy capacity,” said the especially against the background of the MITSUI OSK LINES, September 08, 2022
Honorable Hermilando Mandanas, Governor Western market shutdown,” Alexey Oferkin
of Batangas. of Gazprombank commented as cited by NYK concludes charter
FIRST GEN, September 07, 2022 Vedomosti.
Analysts surveyed by Vedomosti believe agreement for LNG
that Rosneft will be able to offer a lower yield
EAST ASIA on its CNY bonds than those of Rusal or carrier with Osaka Gas
Polyus, and anticipate high demand for the
Russian Rosneft next to issue. International Transport

place at least $1.4bn yuan MOL and ENN sign long- On September 6, NYK signed a multi-
year time charter contract with Osaka Gas
bonds International Transport (president: Takenori
Fujita, Head office: Osaka), a Daigas Group
Russia’s largest oil company, Rosneft, has term charter deal for three company, for a new liquefied natural gas
announced its plans to place 10-year Chinese newbuilding LNG carriers (LNG) carrier.
yuan-denominated bonds worth at least This vessel, named “Grace Freesia,” comes
CNY10bn ($1.44bn) on Moscow Exchange, Mitsui OSK Lines (MOL; president & equipped with a WinGD-made dual-fuel
with the coupon rate yet to be announced, CEO: Takeshi Hashimoto) today, through slow-speed diesel engine (i.e., X-DF diesel
Vedomosti daily reported. a subsidiary, signed a long-term charter engine) that has superior fuel-consumption
The move illustrates the “yuanisation” contract for three newbuilding LNG carriers efficiency and can operate on marine gas oil
of the Russian economy after its military with ENN LNG (Singapore), a wholly owned or boil off gas stored in the cargo tank. The
invasion of Ukraine, as seen in rising volumes subsidiary of ENN Natural Gas (headquarters: carrier also features a re-liquefaction system
of yuan trading on the Moscow Exchange, and Langfang City, Hebei Province, China). that can use surplus boil-off gas efficiently.
banks rushing to offer products and services The vessels will be constructed at Hudong- The cargo tank is a 174,000 cubic metre
in yuan. Zhonghua Shipbuilding (Group) of China, capacity membrane-type tank that makes use
On the state level too, Russian authorities and are slated for delivery by 2028. After of advanced insulating materials to suppress
are reportedly preparing to invest $70bn into delivery, the vessels will be engaged mainly in the boil-off rate (percentage of gas volume
buying yuan and other “friendly” currencies. transport of LNG, procured by ENN under that vaporises during navigation) in the cargo
The Finance Ministry is considering placing long-term purchases contract, to China. tank and realises significantly more efficient,
yuan-denominated bonds after placements by ENN is a leading privately owned energy economical, and environmentally friendly
United Company Rusal aluminium major and company, which has an extensive customer operation.
gold major Polyus Gold. base in more than 20 provinces in China. It By utilising its experience and network
Rosneft’s placement planned for September supplies 10% of natural gas consumption in cultivated as a world-scale LNG-carrier
20 will be organised by the Regional Russian China and operates a large LNG terminal owning-and-managing company, NYK is
Development Bank (RRDB), Gazprombank, in the Zhoushan area of Zhejiang Province. contributing to Japan’s stable energy supply.
Region and Credit Bank of Moscow. The contract was concluded based on ENN’s NYK LINE, September 07, 2022

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