New Fortress Energy has announced the Barcarena LNG terminal in Brazil is now operating, while a new agreement on LNG sales and LPG time charters have been signed
Barcarena LNG Terminal starts operation
New Fortress Energy has announced its 6-mta (300 TBtu) Barcarena LNG terminal, located in Pará, Brazil, is now operational with the Energos Celsius FSRU on-site.
NFE’s Barcarena LNG terminal serves as a crucial natural gas supply source, notably fuelling Norsk Hydro’s Alunorte refinery, reducing CO2 emissions by an estimated 700,000 tonnes annually, and advancing regional decarbonisation efforts.
Capital Gas adds four large LNG carriers
Capital Gas is believed to have added four more 174,000-m3 LNG carriers to its orderbook.
The company has four LNG carriers in the water, including one 174,000-m3 LNG carrier, Axios II, delivered in 2024. This is one of four similar vessels to be delivered from Hyundai group shipyards in 2024.
In addition, there are six more 174,000-m3 LNG carriers waiting to be delivered between 2026 and 2027, with a further four 22,000-m3 CO2 carriers and 88,000-m3 very large ammonia carriers on order.
Time charter for Avance Polaris
Avance Gas Holding has agreed a new one-year variable time charter for the dual-fuel VLGC, 2022-built Avance Polaris with an energy major. Avance Polaris has been on a two-year variable time charter since delivery in early 2022.
"This time charter has a variable hire linked to spot market rates,” Avance Gas chief executive Øystein Kalleklev commented. He added that the company obtains economic benefits as the ship has lower average freight costs than a traditional VLGC from approximately 10% higher cargo intake, 10-15% lower fuel consumption and is equipped to burn LPG.
Woodside and KOGAS sign agreement for long-term LNG supply
Woodside and KOGAS have signed agreement for long-term LNG supply to South Korea. The SPA provides for the supply of approximately 0.5 mta of LNG for 10.5 years on a delivered basis, commencing in 2026, subject to customary conditions precedent.
LNG delivered to KOGAS under the sale and purchase agreement (SPA) will be sourced from uncommitted volumes across Woodside’s global portfolio, including the Scarborough Energy Project which is targeting first LNG cargo in 2026.
TotalEnergies to supply a division of Sembcorp in Singapore with LNG
TotalEnergies has signed an SPA with Sembcorp Fuels, a wholly owned subsidiary of Singapore-based Sembcorp Industries, to deliver up to 0.8 mta of LNG for 16 years, commencing in 2027.
This new agreement adds to the companies’ current SPA, which runs until 2029.
BP and ADNOC to form a joint venture
ADNOC and BP have agreed to establish a new joint venture in Egypt, with BP holding a 51% stake and ADNOC holding 49%.
Under the agreement, BP will contribute its interests in three development concessions and exploration agreements in Egypt to the JV, while ADNOC will provide a proportionate cash contribution for future growth opportunities.
The concessions to be included in the JV consist of the Shorouk, North Damietta and North El Burg fields, along with exploration agreements in various regions.
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