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IEA Says World Oil Demand to Rise 2% in '23
World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook.
Saipem Confirms Shell's Gato do Mato FPSO LNTP
Italian oilfield services firm Saipem has confirmed it has recently been awarded a limited notice to proceed (LNTP) by BW Offshore, for the early-stage engineering services for the supply of an FPSO unit to be supplied to Shell for the development of the Gato do Mato field offshore Brazil.
U.S. Natgas up 2% on Higher Demand, Soaring Global Prices
U.S. natural gas futures edged up about 2% on Tuesday on record power demand in Texas, forecasts for more gas demand over the next two weeks than previously expected, a reduction in gas output, low wind power and much higher global gas prices.
Floating Production Systems Report And Online Database
- Annual five year outlook and forecast – At the start of each year we prepare a detailed assessment of future deepwater development and forecast the pace of orders for floating production systems over the next five years. Our 2021 annual report looks at market conditions likely to prevail through 2025 and provides our assessment of which of the 200+ floater projects in the planning queue will reach the final investment decision by end-2025
- Monthly reports - Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 100 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In our May report we revisit the annual forecast and make revisions as needed.
- Online database - The online database is updated every day – with information direct from primary sources. In the database are details for 200+planned projects, 390+ installations in service, 40+ floaters on order and 40+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database. Data are easily exported to excel spreadsheet.
- Customer support - We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.
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Demand Grows for OSVs in the Offshore Floating Production and Storage Energy Sector
Over the last year we have seen an upswing in floating production and storage systems ordering after many years of low activity. According to our colleagues at World Energy Reports, “The global oil and natural gas markets are contending with…
Lebanon's Hezbollah Says Could Disrupt Start-up of Energean's Karish Gas Field Over Maritime Dispute with Israel
The head of Lebanon's Hezbollah said on Thursday that his group could stop Israel from extracting gas from a maritime field that Beirut says lies in disputed waters, adding Hezbollah is "not afraid of war." Lebanon warned Israel on Sunday against…
International Seaways Sells Stake in Al Shaheen Oil Field FSOs to Euronav
Oil tanker operator International Seaways has sold its 50% stake in two floating storage and offshore (FSO) vessels, the FSO Asia and FSO Africa, to its joint venture partner Euronav NV. The purchase price values the two FSO vessels at $300 million in total.
Naming Ceremony Held for Yinson's Anna Nery FPSO
Malaysian FPSO provider Yinson, with its project partner Sumitomo Corporation named the new FPSO Anna Nery, during a naming ceremony held concurrently in Jiangsu, China and Kuala Lumpur, Malaysia. The FPSO Anna Nery is currently undergoing final…
Indigenous Australians Seek to Block $3.6 billion Santos Offshore Gas project
A group of Indigenous Australians has filed a lawsuit seeking to stop Santos Ltd from developing a $3.6 billion gas project off northern Australia, saying they were not consulted about the drilling. Traditional land owners from the Tiwi Islands…
BW Offshore Sells FPSO Joko Tole
FPSO leasing company BW Offshore has completed the sale of the FPSO BW Joko Tole. The FPSO was sold to PT Bahari Inti Tanker and PT Cahaya Haluan Pasifik, both of which are Indonesian companies, in consortium with PT Buana Lintas Lautan Tbk, a company publicly listed in Indonesia.
Korean Shipbuilder Can't Accept New FSRU Orders as Capacity Full
Korea Shipbuilding & Offshore Engineering (KSOE) has mostly filled its order book for the next 2-1/2 years as the pandemic drove demand for container ships, leaving little room to meet the needs of the liquefied natural gas (LNG) sector, a senior company executive said. With U.S.
Europe's Dash for Gas & FSRUs Puts Australia's LNG Import Plans at Risk
Europe's race to replace Russian gas supply has threatened Australia's plans for five gas import terminals as they compete for key infrastructure, raising the risk of a supply shortfall in Australia's populous southeast in the next two years.
Italy's Snam Buys Golar Tundra FSRU for $350M
Italian gas group Snam has agreed to buy Golar LNG's floating storage regasification unit (FSRU) Golar Tundra for $350 million. The Golar Tundra can operate both as an LNG carrier and as an FSRU. The vessel, built in 2015, has a storage capacity of around 170…
Poland Could Build Second FSRU Amid Czech, Slovak Interest
Poland could build a second floating storage and regasification unit (FSRU) next to an already planned installation because the Czech Republic and Slovakia are interested in buying more liquefied natural gas (LNG), the Polish climate minister said.
Shell Gives BW Offshore Limited Notice to Proceed for Gato do Mato FPSO
FPSO supplier BW Offshore said Thursday that Shell had awarded it limited notice to proceed (LNTP) by Shell and its partners for early-stage engineering and supplier reservations for the supply of an FPSO for the Gato do Mato (Wild Cat) oil and gas field offshore Brazil.
BW Offshore: One-year Charter Extension for FPSO in Ivory Coast
FPSO leasing firm BW Offshore has secured a one-year contract extension for the lease and operation of the FPSO Espoir Ivoirien. The firm period has been extended until the end of Q1 2023. The FPSO is operating on the Espoir field offshore the Ivory Coast for CNR International (Cote D'Ivoire) SARL.
VIDEO: Hook-Up of Liza Unity FPSO Offshore Guyana
Liza Unity is the second floating production, storage, and offloading unit of several expected to be deployed at ExxonMobil's Stabroek block off Guyana in the years to come. The FPSO, delivered by the Dutch FPSO specialist SBM Offshore, started producing oil in February.
Senegal: GAS Entec Builds 'World's First' Modular LNG Floating Storage Regasification Unit for KARMOL
GAS Entec has completed the conversion of a 125,000m³ LNG carrier into an FSRU for KARMOL, a joint-venture between Turkey's Karpowership and Japan's Mitsui OSK Lines (MOL), for deployment in Senegal. The company, a subsidiary of Atlantic Gulf & Pacific International Holding (AG&P)…
Germany to Help Eastern EU States Without Ports Access LNG - Scholz
Germany will show solidarity with European Union countries seeking alternatives to Russian gas and oil, for example helping eastern states without ports in the North or Baltic Seas access liquefied natural gas (LNG), Chancellor Olaf Scholz said on Thursday.
Höegh LNG Names New President & CEO
Oslo-listed LNG FSRU specialist Höegh LNG has appointed Erik Nyheim as the new President & CEO, effective from mid-August this year. Nyheim comes from the position as Partner of Boston Consulting Group's Norwegian office where he has successfully led their maritime practice since 2019.
10-year Contracts: Germany to Charter Two FSRUs from Höegh LNG
Oslo-listed Höegh LNG has signed binding agreements with the German government for the charter of two Floating Storage and Regasification Units (FSRUs) from its fleet for operations in Germany for 10 years, as Germany works to become less reliant on Russian gas.
Kick-off Ceremony Held for Realization of Alexandroupolis FSRU in Greece
The kick-off ceremony for the realization o f Gastrade SA's LNG FSRU facility in Alexandroupolis, Greece, was held on Tuesday, May 3, 2022, i n the old Storage House of the Alexandroupolis Port Customs. Once delivered, the FSRU, with a capacity of 153,500 c.m.