2022's top stories in LNG Shipping & Terminals

In LNG Shipping & Terminals’ most-read stories of 2021, Qatar making LNG market expansion a centrepiece of its energy policy was a central theme. The same was true in 2022. With the small Middle Eastern country announcing it is expanding its liquefaction capacity by over 40%, investing in more than 100 LNG carriers and adding carbon capture and storage technology, the series of EPC, FID and announcements of tender for long-term charters for the planned newbuilding surge to serve the country’s North Field expansion has been closely watched by shipyards and shipowners, alike. And while the ongoing roll-out of announcements surrounding the Qatari project has seen as much interest in 2022 as it did in 2021, other fleet expansions, though small by comparison, caught readers’ eyes as did a recent newbuilding contract for an FSRU. 

Among the LNG sector challenges in 2022 that took our readers’ interest, the fire and work to repair and restart Freeport LNG’s 15-mta export facility that was damaged in the conflagration was a major story. Shell Australia made headlines, too, when the company’s Prelude FLNG facility, which had only been briefly operational since a 2020 fire forced its closure and difficulties in repairing the facility followed, was shuttered for several months due to a dispute over worker pay. 

To read each story in full, click on the headline, the image or the link at the end of the text.

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1. Shell confirms Prelude FLNG has resumed operations after strike

Labour unions have approved a new enterprise bargaining agreement after a dispute over worker pay on Shell’s Prelude FLNG offshore Australia saw operations halted for several weeks. The Prelude FLNG production facility has only been briefly operational since a 2020 fire forced its closure and difficulties in repairing the facility followed. Shell stopped production at the FLNG unit 11 July as the facility reached its maximum capacity due to working bans related to the strike preventing safe mooring and offtake of LNG.

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2. Venture Global LNG ups newbuild programme to five 200,000-m³ LNGCs

US-based Venture Global LNG has ordered two more 200,000-m³ LNG carriers from Daewoo Shipbuilding & Marine Engineering, increasing its orders at the South Korean shipyard to five. “The latest duo placed are priced at a higher US$250M each, breaching the highest total yet for a very large gas carrier” noted BRL. 

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3. South Korean shipbuilders ‘soak up’ Qatari-related LNGC orders

The first phase of Qatar Energy’s massive LNG carrier programme is underway, with contracts signed with South Korean shipyards to construct 54 vessels. BRL Weekly Newbuilding Contracts reported completion of the first tranche of orders, noting it was a “difficult task matching up all the Qatar business.” BRL said all of the ships will be chartered to Qatar Energy and none directly owned. The 54 ships are slightly more than one-third of the LNG carrier newbuilds required by Qatar to meet its fleet renewal expansion plans.

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4. Excelerate Energy signs FSRU newbuild deal with HHI

Excelerate Energy has signed a binding shipbuilding contract with Hyundai Heavy Industries for a new floating regasification and storage unit (FSRU) to be delivered in June 2026. The FSRU will have a storage capacity of 170,000 m³ and a maximum regasification capacity of one billion standard cubic feet per day, according to Excelerate.

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5. Freeport LNG restart postponed

Following a fire and explosion in early June, the facility was expected to resume initial production in October 2022. Freeport LNG has delayed restarting its Texas-based 15-mta export facility by at least four to six weeks. The company said it anticipates that initial production at the plant can resume "in early to mid-November". This has since been pushed back to January 2023.

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