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GAS Entec successfully
delivers FRU
ENGIE to invest in LNG and CNG stations
Qatar Petroleum delivers milestone cargo
to South Hook
Australia
Woodside shelves Browse FLNG project
W
oodside has announced that the partners in the
Browse Joint Venture (JV) development have
decided not to progress work on the development
at this time, due to the current economic and market
environment.
The decision follows completion of Front End
Engineering Design (FEED) work on the project. Woodside
said that, since FEED entry, it has been focused on
delivering targeted cost savings and value enhancements.
The company notes that any progress it has made to
improve project value has been offset by an “extremely
challenging external environment.”
Woodside CEO, Peter Coleman, added: “Woodside
remains committed to the earliest commercial development
of the world-class Browse resources and to FLNG as the
preferred solution, but the economic environment is not
supportive of a major LNG investment at this time.
“Accordingly, we will use the additional time to pursue
further capital efficiencies for Browse.”
Woodside confirmed that it will work with the Browse
JV participants to prepare a new work programme and
budget to progress development activities.
South Korea
GasLog announces delivery of new LNG carrier
G
asLog Ltd has announced that it has successfully
delivered the
GasLog Greece
– a 174 000 m
3
tri-fuel
diesel electric (TFDE) LNG carrier. The vessel was constructed
at Samsung Heavy Industries in South Korea, and is the first
of eight GasLog G-Class vessels. The remaining seven vessels
are expected to be delivered over the coming three years.
Following the delivery of the vessel, the
GasLog Greece
has commenced a 10-year charter with a subsidiary of
Royal Dutch Shell. Seven out of eight of the vessels have
long-term contracts, which will last between seven and
10 years. Committed bank financing has been secured for all
of the newbuild vessels, through a US$1.3 billion newbuild
facility announced in October 2015.
GasLog Partners LP maintains the right to acquire the
newly delivered vessel pursuant to the omnibus agreement
between GasLog Partners and GasLog.
The CEO of GasLog Ltd, Paul Wogan, said: “The
GasLog Greece
is the first of four newbuilding deliveries for
GasLog in 2016. All of these vessels have firm, long-term
contracts with a very high quality counterparty. They will
contribute significant revenue and EBITDA growth to GasLog
as each vessel begins operating under its charter.”
