Page 13 - GLNG Week 49

GLNG
NEWS IN BRIEF
GLNG
of GTT, declared: “We are pleased to receive this order from our long-term partners. This new LNG bunker vessel project demonstrates strengthened interest from ship-owners for the use of GNL as marine fuel and contributes to the development of the associated supply chain.”
GTT, December 09, 2019
MIDDLE EAST
Saudi Aramco’s shipping
arm reportedly seeking to
charter LNG tankers
Saudi Aramco’s shipping arm, Bahri, has
issued an expression of interest (EoI) to charter up to 12 LNG tankers from 2025, according to sources familiar with the situation that were cited by Reuters. The move, if confirmed, is the company’s first into the LNG industry.
However, no further details were immediately available and Reuters reported that Aramco declined to comment.
According to the sources, Bahri’s EoI is likelypartofAramco’sexpansionintoLNG trading as it boosts its gas production and considers expanding its LNG investments. EoIs are preliminary and may not necessarily result in full-fledged orders.
Aramco is planning to become a major global gas player and has been developing its own gas resources as well as looking at investments in gas assets in the US, Russia,
Australia and Africa. In May, the company signed a 20-year agreement to buy LNG from Port Arthur LNG, a planned export terminal that US-based Sempra Energy is developing on the Texas Gulf Coast. Aramco also agreed to buy a 25% equity stake in the first phase of the project.
The company’s trading arm, Aramco Trading, is also stepping up hiring to support its LNG operations in Singapore.
AramcoTradinghasstruckdealsto supply LNG to Bangladesh and potentially to Pakistan thus far.
“They are basically leveraging on their oil partnerships with some countries to market LNG as well,” a source told Reuters.
Week 49 12•December•2019
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