Page 11 - GLNG Week 35

GLNG
NEWS IN BRIEF
GLNG
AMERICAS
GasLog signs 10-year time
charter for provision of an
LNG floating storage unit to
Panama power project
GasLog today announces that one of its subsidiaries has signed a 10-year time charter with Sinolam LNG Terminal for the provision of a lique ed natural gas (LNG) oating storage unit (FSU) to a gas- red power project being developed in Panama.
e time charter is expected to be ful lled through the conversion of the GasLog Singapore, a 155,000 cubic meter, tri-fuel diesel electric (TFDE) LNG carrier built in 2010. e required modi cations are such that, as well as being FSU ready, the vessel will still be able to trade as an LNG carrier following the conversion works. e GasLog Singapore’s conversion will take place in conjunction with the vessel’s scheduled 5-year special survey in the third quarter of 2020, enabling both time and cost synergies with the vessel’s regular dry-docking. e charter commences on delivery of the FSU in Panama, which is scheduled for November 2020.
Since September 2016, the GasLog Singapore has been trading in the LNG carrier spot market. e FSU contract is for a xed period, thereby delivering 100% utilisation
for the duration of the charter. e FSU will also incur a lower opex than if the vessel
was trading as an LNG carrier, with GasLog estimating that the charter will generate approximately $20mn of EBITDA per annum over its 10-year life.
e FSU will receive, store and send out LNG to a gas- red power plant currently being developed near Colón, Panama,
by Sinolam Smarter Energy LNG Power Company (“Sinolam”), a subsidiary of
private Chinese investment group Shanghai Gorgeous Investment Development Company. e power project has signed long-term power purchase agreements with leading Panamanian utility companies as well as a 15- year LNG sale and purchase agreement with Royal Dutch Shell.
GASLOG, September 04, 2019
FERC accepts
Commonwealth LNG’s
permit application
Commonwealth Projects is pleased to announce that the US Federal Energy Regulatory Commission (FERC) has formally accepted Commonwealth LNG’s ling application. e Project encompasses the construction of one lique ed natural gas plant, including six gas liquefaction trains and appurtenant facilities. Each train will have a liquefaction design capacity of approximately 1.4 million metric tonnes per annum (mtpa)
for a total nominal liquefaction capacity of 8.4 mtpa.
Located on the west side of the Calcasieu Ship Channel, near the entrance to the Gulf of Mexico, the Project will include six LNG storage tanks (each with a capacity of 40,000 m3, one marine loading berth (capable of loading LNG carriers up to a capacity of 216,000 m3), and a 3.04-mile long, 30-inch diameter Pipeline that will connect the LNG Facility with existing intrastate and interstate pipelines for the purpose of supplying gas to the Project.
“FERC’s formal acceptance of Commonwealth LNG project’s ling application marks another signi cant milestone achieved by the Commonwealth LNG team and represents an important step in progressing the project and moving closer to a nal investment decision,” said Paul Varello, Commonwealth’s president and CEO.
Chief operating o cer, Robert Powers added: “this is a major achievement which
we could not have done without the support of our partners, TechnipFMC, TRC, Blue Engineering, Orrick and countless others who have contributed to this substantial e ort.”
Commonwealth LNG expects to take a nal investment decision on the project in Q4 2020 and remains on schedule to commence operations of the 8.4 mtpa facility in rst quarter of 2024.
COMMONWEALTH PROJECTS, September 03, 2019
Freeport LNG ships first LNG commissioning cargo
Freeport LNG today announced that it has shipped the rst LNG commissioning cargo for Train 1 from its liquefaction facility located on Quintana Island in Freeport, Texas. Approximately 150,000 cubic meters of LNG were loaded aboard the LNG Jurojin, which departed from the Freeport LNG terminal on September 3.
“ is rst cargo loading is another signi cant step that gets us one step closer towards our start of commercial operations which is anticipated later this month,” said Michael Smith, Founder, Chairman and CEO, Freeport LNG. “We are very pleased that it took less than 45 days to load our rst cargo since gas was rst introduced to our liquefaction facilities.”
Freeport’s Train 2 is advancing pre- commissioning to support an in service date of January 2020. Train 3 is nearing completion to support an in service date of May 2020. FREEPORT LNG, September 03, 2019
Week 35 05•September•2019
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