Sister ship will be fifth LNG vessel to be scrapped this year, with three of these sold for Hong

Kong Con-ven-tion-com-pliant
recyc-ling. Shipowner Seapeak has opted to scrap a second sister ship after it was redelivered at the end of its charter
party. The company confirmed to TradeWinds that it has sold the 89,880-cbm Seapeak Polar (built 1993) for demolition just
six months after selling the Seapeak Arctic.
Golar LNG opts to scrap 46-year-old FLNG ‘conversion candidate’
The ship, which was sold on an “as is” basis at Khor Fakkan in the United Arab Emirates, fetched around $15m and is being
sent for recycling that is compliant with the Hong Kong International Convention for the Safe and Environmentally Sound
Recycling of Ships. Brokers quoted the 24,476-ldt vessel as having achieved $637 per ldt, which would imply a price of
around $15.6m. The LNG carrier had recently been redelivered from its charter with French energy major TotalEnergies.
Opted for scrap
Seapeak was initially optimistic about finding fresh term-charter business for the Japanese-built vessel but later decided to
send the vessel for demolition. The ship — it ranks among the top 15 oldest LNG carriers in the global fleet — is a sister
ship to the Seapeak Arctic, which was sent for recycling at the start of this year. In its ESG Report 2022 , Seapeak —
formerly Teekay LNG before it was bought by Stonepeak in early 2022 — said it had opted to scrap the Seapeak Arctic due
to its older age, steam turbine propulsion system and smaller size. The company said this meant it was “less efficient than
newer LNG carriers and its competitiveness on the LNG charter market limited”.
New Fortress moves to sell off laid-up steam turbine FSRU and LNG carrier
The vessel was also idle and out of class. The LNG carrier, which was renamed Artica for its final voyage, was sold to cash
buyer Best Oasis for $15m and is being recycled at Priya Blue Industries in Alang, India. The two Seapeak vessels are an
unusual size and were built with self-supporting prismatic type-B cargo tanks. The vessels were built to serve the Kenai
LNG plant in Alaska and ship cargoes to Japan. This year is shaping up to be one of the busiest for the demolition of LNG
carriers. Five LNG carriers have been sold for scrap in the first six months of this year, equalling 2018’s total for ships in
this sector that were sent for demolition. To date, 2021 has proved the busiest year, with seven LNG carriers recorded as
scrapped, followed by 2020, when six vessels were sent to the breakers.
Full details emerge for third LNG carrier scrap sale of 2023
In 2023, two shipowners — Seapeak and Golar LNG — have opted to send their vessels for Hong Kong Convention-
compliant green recycling. Sinokor Merchant Marine also scrapped two LNG carriers to date this year but not under Hong
Kong Convention terms. Brokers think more LNG carriers, particularly steam turbine vessels, could head to the breakers this
year as shipowners wrestle with decisions on the older units in their fleets. Owners are looking at the tightening emissions
regulations and weighing up whether to spend cash on upgrading their vessels to keep them compliant and extend their
trading life or sell them on for conversion projects, storage, niche trades or ultimately recycling. Source:www.tradewindsnews.com

Details of former Brunei LNG carrier emerge onto market. A Chinese-controlled steam turbine-driven LNG carrier has been
put up for sale in what is proving to be an increasingly active sale-and-purchase market for the sector. Shipowners said
details of the 137,912-cbm Xinhang Energy (built 2002) have been circulated.
New Fortress moves to sell off laid-up steam turbine FSRU and LNG carrier
The Japanese-built, Moss-type vessel is listed as controlled by Hong Kong-based Xinhang Shipping, with Bernhard Schulte
Shipmanagement (Singapore) handling its technical management. Kpler ship-tracking data shows that the LNG carrier
appears to have spent much of the last 12 months shipping cargoes from Russia’s Sakhalin LNG plant into China. The 21-
year-old LNG carrier joins a number of steamships that are being floated for sale either individually or as part of fleet sell-
offs, as some owners assess the older tonnage in their fleet and how these vessels will perform under incoming emissions
regulations. The ship started life as the Abadi for the Shell-controlled Brunei Gas Carriers fleet. It was dubbed one of the
project’s “B”-class vessels as it brought in a tranche of so-called “A”-class newbuildings from 2011 onwards. The earlier B-
class vessels were scrapped as these deliveries rolled in or rolled onto yearly renewing contracts. Last year, Brunei Gas
Carriers said it had sold what was then its longest-serving A-class LNG carrier Abadi on 20 June 2022 as part of its long-

1
term strategy to move away from steam-operated vessels and into “greener and more fuel-efficient motor-operated vessels
amid ongoing regulatory pressure to reduce greenhouse gas pollutants and our vessels’ carbon footprint”. The Abadi is said
to have gone to Chinese trader Jovo Energy and was listed as trading under the name of Lucky Leader. In September last
year, the ship was sold onto Xinhang Shipping, according to Clarksons’ Shipping Intelligence Network (SIN) records.
Steam turbine LNG ship speeds hit lowest ever level in weaker market
According to SIN, the vessel has undergone several repairs since 2017. In 2022, it had a ballast water management system
fitted. Its sales particulars show it is undergoing works to repair port-side boiler leakages. The ship is listed as having an
Energy Efficiency Design Index rating of 19.3. Several LNG steamship sales candidates are currently being picked over in
the market. Four ships under the control of shareholders in Australia’s North West Shelf shipping project are under
discussion.
Final four North West Shelf LNG carriers offered for sale – again
New Fortress Energy recently invited offers on the 129,000-cbm FSRU Spirit (ex-Golar Spirit, built 1981) and 136,687-cbm
LNG carrier Mazo (ex-Golar Mazo, built 2000). Swedish shipowner Stena is looking at sales options for its three LNG
carriers — one of which is a steam turbine vessel — and technology business. In March, the 147,546-cbm LNG Ebisu (built
2008) — a steamship controlled by Mitsui OSK Lines and Karpowership joint venture KARMOL — was put on the market.
source : www.tradewindsnews.com

LNG carrier operator CoolCo has exercised its option to buy two newbuild LNG carriers from its largest shareholder Eastern
Pacific Shipping. CoolCo signed deals in November 2022 with units of Idan Ofer’s EPS to add up to six LNG carriers to its
fleet, and it already wrapped up the purchase of four LNG carriers under this deal. The firm entered into an option
agreement to acquire newbuild contracts for two 2-stroke LNG carriers scheduled to deliver in second half of 2024. South
Korea’s Hyundai Samho is building these 174,000-cbm ME-GA vessels and they feature GTT’s Mark III Flex membrane
cargo tank system, reliquification, air-lubrication, and shaft generators. CoolCo said in a statement late on Wednesday that it
has exercised its option to buy the vessels from affiliates of EPS Ventures. Moreover, the firm is buying the vessels under
the pre-existing purchase option price of about $234 million, a discount of approximately 10 percent to current quoted
market value for comparable newbuild vessels, it said. The initial exercise price is about $57 million per vessel, while about
$134 million of the remaining $177m is due upon delivery of each of the vessels, CoolCo said. CoolCo said that the closing
date and payment of the option exercise is Monday, July 3.
Kool Tiger and Kool Panther
The LNG carrier operator said it will name the vessels Kool Tiger and Kool Panther. It expects to fund the purchase with a
combination of cash on hand, including cash that was recently released from the sale of the 2013-built LNG carrier Golar
Seal to Hoegh LNG, and debt financing for which CoolCo has received a commitment letter from a financing institution. This
debt financing, which is subject to customary approvals, is on a fixed rate per day basis for 10 years with a minimum loan-

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to-value of 80 percent and an implied interest rate of around 6 percent, the firm said, CoolCo does not anticipate needing to
raise additional equity to finance the two newbuilds.
CoolCo in talks to secure charters for the vessels
CEO Richard Tyrrell said that CoolCo looks forward to welcoming these vessels into its fleet at a “material discount” to their
current market value. He said their 2024 delivery date makes the vessels “especially attractive”, with comparable vessels
ordered today only being delivered in the 2027/28 timeframe. “With the vast majority of the global LNG carrier orderbook
already committed to liquefaction projects coming online in the years ahead, few, if any, modern LNG carriers are expected
to be available for time charter employment during the late 2024 window when the vessels deliver,” he said. “We are
currently in discussions to forward fix the vessels on long-term time charters and expect to do so well in advance of delivery
at levels that reflect current market strength,” Tyrell said. CoolCo’s shares started trading on the New York Stock Exchange
in March and they now trade on both the NYSE and Euronext Growth Oslo under the ticker code “CLCO”. In February, EPS
bought all of the shares from Golar LNG and now owns 58.2 percent in CoolCo, while public investors hold the rest.
Besides these two newbuilds, CoolCo has seven TFDE LNG carriers it acquired from Golar and the four it purchased from
EPS. The company also manages eight LNG carriers and nine FSRUs in addition to owned fleet, according to its website.
Source : www.lngprime.com

Germany’s Hapag-Lloyd has taken delivery of the first of the twelve ultra-large LNG-powered containerships from South
Korea’s Hanwha Ocean. Hanwha Ocean, previously known as DSME, delivered the 23,660-teu Berlin Express on June 14.
“She will now transition to the AG3 service before moving to the FE3 service in August and calling at Hamburg for her
christening in October,” Hapag-Lloyd said via its social media on Thursday. This is the first LNG-powered newbuild in
Hapag-Lloyd’s fleet, which consists of about 250 vessels. The firm already operates the converted containership, Brussels
Express, the world’s first ultra-large containership LNG retrofit. Hapag-Lloyd first ordered six LNG dual-fuel containerships
from Hanwha Ocean in 2020, and it added six more sister vessels in 2021. The orders have a total price tag of about $2
billion. Moreover, the German shipping firm will take delivery of these vessels in 2023 and 2024 and all of the vessels
feature MAN ME-GI main engines. They are about 400 meters long and 61 meters wide. Hapag-Lloyd expects the second
vessel in this batch, Manila Express, to join its fleet in August. In February this year, Hapag-Lloyd signed a multi-year LNG
bunkering agreement with a unit of Shell for these ships.The partners expect bunkering of these vessels to start in the Dutch
port of Rotterdam during the second half of 2023. source : www.lngprime.com

Russian LNG exporter Novatek is set to launch transshipment operations near Murmansk following the arrival of the
361,600-cbm Saam FSU at the site in Ura Bay. According to a statement by Russian state-owned maritime infrastructure

3
firm Rosmorport, the FSU arrived in Ura Bay in the Barents Sea during the night on June 26-27. Rosmorport’s pilots are
involved in anchoring ops to fix the 400 meters long and 60 meters long unit to the seabed. Following commissioning,
Rosmorport’s Murmansk branch will also assist LNG carriers in the Kola Bay and also to load and unload LNG at the FSU, it
said. The non-propelled unit was towed for some four months from Hanhwa Ocean’s Okpo yard (previously known as
DSME) in Geoje, South Korea. The FSU’s AIS data shows that it left the yard on February 22.
Novatek chartered the FSUs from GTLK
Back in June 2020, Hanwha Ocean secured an order for two giant LNG FSUs worth about $748.2 million from Russian
state leasing agency GTLK. Both of the FSUs feature GTT’s NO96 GW membrane containment tech. After that, Japan’s
MOL said in September 2021 that it signed a letter of intent with GTLK to buy 49 percent shares in the FSU owner
companies. MOL said that the FSU owner companies have previously entered into bareboat charter agreements with Arctic
Transshipment, a joint venture of Novatek and TotalEnergies. During the same year, TotalEnergies also purchased a 10
percent participation interest in Arctic Transshipment that will operate the complexes in the Kamchatka and Murmansk
regions. However, TotalEnergies wrote down its 19.4 percent interest in Novatek last year and withdrew its representatives of
the company from the board of Novatek due to European sanctions imposed on Russia and Russian companies. This means
that Novatek is now probably the only charterer of the two FSUs.
Second FSU
The second giant FSU, named Koryak, is still located at the Okpo yard, its AIS data shows. This FSU should depart to
Kamchatka later this year to start serving Novatek’s second transshipment terminal in Bechevinskaya Bay. Novatek
previously said that these transshipment terminals will reduce voyage costs and greenhouse gas emissions. It currently
operates the large Yamal LNG project, the medium-scale Vysotsk facility, and is also building the Arctic 2 LNG terminal.
The Arctic LNG 2 project located on the Gydan peninsula includes the construction of three LNG trains with a capacity of
6.6 Mtpa, each, using gravity-based structure platforms. Novatek is planning to launch the first GBS by the end of this year.
The firm is also working to develop the Murmansk LNG project and recently obtained a Russian patent for its proprietary
technology called “Arctic Mix” for large-scale natural gas liquefaction using mixed refrigerants. Novatek said it developed this
LNG process technology to implement the company’s large-scale projects on gravity-based structures with a production
capacity of 6+ mmtpa per LNG train. source : www.lngprime.com

China Merchants Jinling Shipyard in Nanjing has delivered the third LNG-fueled pure car and truck carrier to Japan’s NYK.
According to a statement by the shipbuilder, the delivery ceremony for the LNG-powered PCTC, Freesia Leader, took place
on June 26. This is the third vessel of four with a capacity of 7,000 units NYK ordered at the Chinese yard in February
2021. The China Merchants yard delivered the first vessel in this batch, Jasmine Leader, on January 31, and the second,
Wild Rose Leader, on April 20. The 200 meters long vessels feature WinGD’s 7X62DF-2.1 two-stroke engines coupled with

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shaft generators, DC-links, and battery systems. NYK is positioning LNG fuel as one of the bridge solutions until future
zero-emission ships are realized and plans to take delivery of a total of 20 new LNG-fueled car carriers by 2028. It took
delivery of Japan’s first LNG-powered PCTC, Sakura Leader, in October 2020, followed by the delivery of its second PCTC,
Plumeria Leader, in March last year. source : www.lngprime.com

Japan’s MOL, Malaysia’s Petronas, and China’s SDARI have received approval in principle for two designs of liquefied CO2
(LCO2) carriers and a floating storage and offloading (FSO) unit. According to a statement by MOL, both DNV and ABS
approved designs for LCO2 carriers with a capacity of 87,000 cbm and with a capacity of 14,000 cbm. In addition, ABS
issued approval in principle for LCO2 FSO with a capacity of 96,000 cbm. This follows a memorandum MOL and Petronas
signed back in February 2022 to explore liquefied CO2 transportation opportunities in the Asia Pacific and Oceania regions.
After that, the two firms and SDARI completed the concept study and received the approvals. MOL says that an FSO can
receive, store, and offload cargo offshore, and LCO2 FSOs are considered one of the “most effective scenarios” in the
carbon capture, utilization, and storage (CCUS) market.

Image: MOL
Images provided by MOL show that the LCO2 vessels could feature liquefied natural gas (LNG) propulsion. “Completion of
these concept designs and acquisition of AiPs clears the way toward a flexible approach to transport needs in consideration
of volume, transport distance, and direct transport to FSOs near offshore storage facilities,” it said. MOL added that it will
further collaborate with Petronas through the newly acquired AiPs and will continue its efforts to develop various technologies
including LCO2 carriers and FSOs. Source : www.lngprime.com

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Daigas Gas and Power Solution, a unit of Japan’s Osaka Gas, has secured a contract for CPC’s fourth LNG receiving
terminal in Taiwan.According to a statement by Osaka Gas, DGPS will provide front-end engineering and design (FEED) and
technical consulting service for the construction project of Zhouji LNG receiving terminal owned and operated by CPC. Osaka
Gas did not provide the price tag of the contract. This is CPC’s fourth LNG import terminal and will be located in the
Kaohsiung port area, it said. It includes building four LNG storage tanks, each with a capacity of 180,000 cbm,
regasification facilities, and receiving facilities for LNG tankers. After the completion of this project scheduled in 2029, LNG
handling capacity of this LNG import terminal will
be 6 million tons per annum, Osaka Gas said.
Image: Osaka Gas

Last year, Osaka Gas’ unit DGPS also secured

FEED and technical consulting service for the
Phase-4 expansion project of the Taichung LNG
receiving facility. Osaka Gas’ unit DGPS
previously worked with CPC on its Yung-An
facility in Kaohsiung and the two firms are also
cooperating on CPC’s third LNG receiving
terminal in Guantang, Taoyuan City. Source :
www.lngprime.com

Japan’s shipping giant MOL and its partners have entered into a lease agreement for three LNG carriers with China’s Bank
of Communications Financial Leasing Co (BOCOM Leasing). Besides MOL, the joint venture includes Cosco Shipping LNG
Investment (Shanghai), CNOOC Gas and Power Singapore Trading & Marketing, and CETS Investment Management (HK).
China’s Hudong-Zhonghua is building these three 174,000-cbm LNG carriers. MOL said in a statement that the lease
agreement with BOCOM Leasing, a unit of Bank of Communications and the largest leasing company in China was signed
on June 27. Also, the Japanese firm said this marks its first contract with a Chinese leasing company. This lease agreement
was achieved with a local financial institution in collaboration with a Chinese partner, in line with MOL’s regional strategy, it
said. “Through these initiatives, MOL will expand its funding sources and diversify its funding methods to strengthen its

6
competitiveness, and it aims to realize a “regional strategy” while increasing its presence in China and other Asian markets,”
MOL said. MOL did not provide any additional information regarding the deal. In January last year, MOL and its partners
ordered six LNG carriers from Hudong-Zhonghua for about $1.17 billion. All of the ships will serve CNOOC’s gas and power
unit under long-term charter deals. Part of Hudong-Zhonghua’s fifth-generation Changxeng series, the 299 meters long
vessels will feature WinGD’s X-DF dual-fuel engines and GTT’s NO96 Super+ containment system. The Chinese shipbuilder
will deliver the vessels from 2024 through 2026. source : www.lngprime.com

Global commodities trader Mercuria has secured a 500 million euro ($547 million) loan, backed by the Italian government, to
increase supplies of natural gas and LNG to Italy.Mercuria Energy Trading announced the closing of its new five-year
multicurrency ECA covered rredit facilities agreement in a statement on Tuesday. The loan is guaranteed by SACE, the
Italian export credit agency controlled by the country’s economy and finance ministry, as part of SACE’s push strategy,
Mercuria said.The Geneva-based trader mandated UniCredit Bank, Societe Generale, Natixis, and UBS Switzerland as the
mandated lead arrangers and Abu Dhabi Commercial Bank as the lead arranger. Mercuria’s CFO Guillaume Vermersch said
this is the first ECA-backed transaction for Mercuria. “Under this agreement, Mercuria will increase its natural gas and LNG
supplies to Italy, supporting Italian national industrial needs and the overall European gas market,” Vermersch said. Italy
hosts Snam’s Panigaglia facility, the FSRU Toscana, and the Adriatic LNG import terminal, as well as the small-scale
facilities such as the terminal in the port of Ravenna and the Higas terminal. Snam will also soon launch commercial
operations at the FSRU-based LNG import terminal in the port of Piombino. This facility is the fourth large LNG terminal in
Italy and the second FSRU-based facility, while Snam also bought one FSRU from BW and signed a deal to convert LNG
carrier Golar Arctic into an FSRU. Snam plans to employ the 2015-built FSRU BW Singapore to serve the facility off
Ravenna. Italy and its firms have been heavily investing in LNG since the last year in order to replace Russian pipeline gas
and boost energy security. This is is the case with other European countries such as Germany that in December agreed a
$3 billion loan with commodity trader Trafigura. Under this deal, Trafigura will deliver natural gas and LNG supplies to
Germany’s SEFE. source : www.lngprime.com

Finnish state-owned energy firm Gasum has expanded its bunkering business with the completion of its first LNG fueling
operation in Iceland. Gasum also claims this is the first LNG bunkering operation ever performed in Iceland. The bunkering
operation took place in the port of Reykjavik on June 21, according to the firm. As part of the first bunkering operation,
Gasum’s chartered bunkering vessel Coral Energy delivered LNG and bio-LNG to Ponant’s LNG-powered polar cruise and
exploration vessel, Le Commandant Charcot. Ponant claims this is the world’s first LNG-powered, hybrid-electric passenger

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vessel to navigate in polar waters. The vessel has Wartsila’s dual-fuel engines but also two GTT’s Mark III membrane
technology tanks for a total capacity of 4500 cbm, enabling it to complete its entire voyage on LNG. Gasum previously took
part in the vessel’s first cool-down operation in May 2021 and the first LNG bunkering operation in the French port of Le
Havre later the same year. “By providing marine LNG in remote locations where such cruise vessels operate, Gasum
supports the ambition of its cruise customers to continuously improve the environmental performance of their fleet and reduce
the impact on visited ecosystems,” it said. In addition to the almost complete elimination of local pollutant emissions that are
already achieved by using LNG, the use of LBG, or bio-LNG, reduces the carbon footprint of cruising “significantly”, the firm
said. Gasum says biogas cuts carbon emissions on average by 90 percent when compared with traditional fossil fuels. The
company’s strategic goal is to bring 7 TWh of renewable gas yearly to market by 2027. source : www.lngprime.com

UK’s Ineos has chartered two liquefied natural gas carriers from Japan’s shipping giant MOL to ship its contracted US LNG
supplies to Germany. Ineos Energy Trading, a unit of Ineos, will take on charter two 174,000-cbm newbuild LNG carriers, it
said in a statement. The two firms signed the charter deals on June 23, it said. Both of the vessels will be built by South
Korea’s Hanwha Ocean, previously known as DSME, and they will feature MAN ME-GI engines, air lubrication technology,
and shaft generators. Ineos did not provide any additional information regarding the charter deals or the vessels. MOL said
in a separate statement issued on June 28 that Hanwha Ocean will deliver both of the vessels in 2027. Also, the ships will
be 294.9 meters long and 46.4 meters wide. MOL has a large number of LNG carriers on order at Hanwha Ocean and last
year revealed charter deals for vessels being built at the shipbuilder and scheduled for delivery in 2025 and 2026, as well
as a recent deal with Jera. In February, MOL ordered one LNG carrier at Hanwha Ocean and another vessel in April. Both
of these LNG tankers are scheduled for delivery in 2027. The shipping firm has at least 14 LNG carriers on order at Hanwha
Ocean, according to VesselsValue data.
First LNG carriers
These will be the first LNG vessels in the Ineos’ fleet. Ineos said it will capitalize on its experience as the largest transporter
of ethane gas from the US to Europe and Asia, to develop a ‘pipeline’ of LNG into Europe to service its own demand, as
well as that of select third parties. David Bucknall, CEO of Ineos Energy Trading, said in the statement “it was extremely
important that we selected modern, efficient vessels with environmental considerations embedded in the design.” “We agreed
an engine type and vessel specification with MOL that we believe is optimal for reducing carbon emissions and methane
slip,” he said.
Porth Arthur LNG and German LNG terminal
Last year, Ineos agreed to buy about 1.4 million tonnes per year of LNG for a period of 20 years from Sempra
Infrastructure’s Port Arthur LNG project in Texas. Sempra took a final investment decision for the first phase of the LNG
export project worth about $13 billion in March this year. Starting in 2027, Ineos plans to deliver these Port Arthur LNG

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supplies to the planned onshore LNG import terminal in Brunsbuettel, Germany, where it also booked long-term capacity.
The facility, developed by German LNG Terminal at the mouth of the Elbe on the North Sea, will have a capacity of 8 bcm
of natural gas per year. source : www.lngprime.com

Japan’s city gas supplier and LNG importer, Osaka Gas, and its two partners are planning to start supplying liquefied natural
gas with a newbuild bunkering vessel to ships in the Osaka Bay and the Seto Inland Sea in fiscal 2026. Partners include
NS United Coastal Tanker Kaisha (NSUT) and also Kobe-Osaka International Port Corporation (HPC). Osaka Gas said in a
statement this is the first LNG bunkering business for the firm and the it will be in charge of LNG sales and supply. Also, the
partners will supply the fuel to LNG-powered ships using a 1,500-ton capacity bunkering vessel, which will load at Osaka
Gas’ terminals, it said. According to Osaka Gas, this bunkering business was adopted as a project eligible from the Ministry
of Land, Infrastructure, Transport and Tourism’s LNG bunkering hub development program for fiscal 2023. Osaka Bay LNG
Shipping (OLS), a company jointly established by Osaka Gas International Transport, NSUT, and HPC will own the LNG
bunkering vessel. Moreover, NSUT, an established LNG coastal vessel operator, will manage and operate the vessel, and
HPC will promote the business and LNG bunkering across the shipping industry in cooperation with the relevant government
agencies, port administrator, and officials, the statement said. Osaka Gas did not reveal any additional information regarding
the vessel or the shipyard that will build the vessel under the subsidy pogrom. The firm operates the Senboku and Himeji
LNG terminals in Japan and receives the fuel from several facilities around the globe, including from the Freeport LNG
terminal in the US. source : www.lngprime.com

US LNG exporting giant Cheniere has signed a new long-term deal to supply liquefiey natural gas to a unit of Chinese
independent gas distributor ENN. Under the 20-plus year sales and purchase agreement, Cheniere Marketing will supply
about 1.8 million tonnes per annum (mtpa) of LNG to ENN LNG (Singapore) on a free-on-board basis. Cheniere said in a
statement that the Henry Hub-indexed deal includes a fixed liquefaction fee. Deliveries will start in mid-2026, ramping to
0.9 mtpa in 2027. Moreover, the US firm said delivery of the remaining 0.9 mtpa, which is subject to, among other things,
a positive final investment secision with respect to the first train of the Sabine Pass expansion project, will start upon the
launch of commercial operations of Train Seven. The term of the SPA extends until the 20th anniversary of the start of
commercial operations of Train Seven, it said. This is the second long-term SPA signed between ENN and Cheniere
Marketing. Also, the 13-year SPA signed in October 2021 for some 0.9 million tonnes per year of LNG initiated the first
cooperation between two firms in the LNG business.
Sabine Pass expansion
This is also the second long-term LNG supply agreement for Cheniere in a week following the deal with Norway’s Equinor.

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Both of these contracts include volumes from the proposed Sabine Pass Stage 5 expansion project. Sabine Pass currently
has a capacity of about 30 mtpa following the launch of the sixth train in February last year, while Cheniere’s three-train
Corpus Christi plant in Texas can produce about 15 mtpa of LNG and is undergoing expansion. In February this year,
Cheniere initiated the pre-filing review process with the US FERC for the proposed Sabine Pass Stage 5 expansion project.
The project will include up to three large-scale liquefaction trains, each with a production capacity of about 6.5 mtpa of LNG,
a boil-off-gas (BOG) re-liquefaction unit with a production capacity of 0.75 mtpa of LNG, and two 220,000-cbm LNG
storage tanks. Cheniere’s president and CEO, Jack Fusco, said in the statement that this SPA “further supports China’s
structural shift to natural gas as a growing primary energy source, powering its economy while enabling improved
environmental performance.” Also, this SPA “accelerates Cheniere’s commercial momentum on the SPL expansion project,
demonstrating the market’s need for additional LNG capacity,” he said. source : www.lngprime.com

South Korean LNG importing giant Kogas has signed two memorandums to develop LNG and hydrogen projects in Vietnam.
According to a statement by Vietnamese investor and project developer T&T Group, the two firms signed a memorandum of
understanding on June 23 to develop LNG-to-power projects in the country, and convert coal power projects already in
Power Plan VIII to LNG power. The two firms will also explore opportunities to participate in hydrogen production projects to
meet the demand of power projects, and develop business using LNG cold energy from LNG terminals in Vietnam, the
statement said. Kogas and T&T are already partners in the $2.3 billion Hai Lang LNG-to-power project in Vietnam’s central
province of Quang Tri, which includes power firm Kospo as well as energy solutions provider Hanwha. As part of the first
phase of the LNG power plant, the partners will build a 1,500 MW facility with an expected start of commercial operations in
2026-27. Besides this deal with T&T, Kogas also signed a memorandum of understanding with PetroVietnam Power, a part
of state-owned PetroVietnam. Under this MoU, the two firms will work on exploring opportunities to participate in hydrogen
production projects to meet the demand of power projects, PV Power said in a separate statement. In addition, the two sides
will cooperate in other projects in Vietnam, including LNG power, it said. Vietnam will soon become an LNG importing nation
as PetroVietnam Gas, also a unit of PetroVietnam, is working to launch Vietnam’s first LNG import facility. The Thi Vai LNG
import facility consists of one 180,000-cbm LNG tank, a jetty, and regas area, and will receive its first LNG cargo from
Shell. source : www.lngprime.com

Italian energy firm Edison has signed a memorandum of understanding with Slovakia’s gas supplier SPP to collaborate on
LNG supplies. Under the agreement, SPP and EDF’s unit Edison, which owns one of the largest and most diversified long-
term gas portfolios in Italy, undertake to explore possible synergies for accessing the capacity of regasification from LNG, to
allow Slovakia to open new supply routes, according to a statement by Edison. Edison imports LNG via Italy’s Adriatic LNG

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terminal and is also a partner in the small-scale LNG terminal in the port of Ravenna. SPP said in a separate statement that
the memorandum creates the basis for exploring potential opportunities to provide regasification capacity in LNG terminals on
the Italian coast. Both companies also confirmed the interest in deepening business cooperation and in the potential
transmission of natural gas from Italy to Slovakia, it said. Earlier this year, SPP also signed similar deals with Italy’s Eni and
Snam. SPP said it has signed agreements with key partners from Italy, Poland and Germany, to ensure the strengthening of
Slovakia’s energy independence. In spring, the company signed new diversification contracts with BP, ExxonMobil, Shell
Energy Europe, Eni, and RWE. By concluding these diversification contracts, the company says it can currently cover more
than 70 percent of its customers’ consumption from sources other than Russian. “From 2025, we plan to ensure access for
Slovakia to LNG terminals and their regasification capacities. At the same time, we are conducting negotiations with LNG
producers from the USA, Qatar, Asia, and Africa,” it said. source : www.lngprime.com

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