Seoul - Hyundai Steel plans to spearhead carbon reduction by replacing its fleet of raw material carriers with eco-friendly ships. Hyundai Steel announced on Nov. 24 that it has started to operate its first eco-friendly raw material carrier, "HL Oceanic"
Doha - QatarEnergy has ordered six LNG ships from two South Korean shipyards, the first batch under a 2020 agreement, as the Gulf state seeks to meet requirements for its North Field expansion plans
Doha - Qatar, the world's largest supplier of liquefied natural gas, said on Monday it can't help ease the red hot gas market because it has allocated all its output and believes the high prices are destructive for demand: "We are maxed out as far as we have given all our customers their due quantities," Qatar's energy minister Saad al- Kaabi said
Dubai - Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum to reflect what it said was a broader strategy but said it had no plans to sell assets to raise funds as other Gulf state producers have: "We have plenty of cash" Chief Executive Saad al-Kaabi said on Monday, indicating the Qatari firm would not follow in the footsteps of Gulf rivals which have sold assets
London - Soaring gas prices are forecast to drive a switch to oil and put more energy suppliers in Britain out of business, while industry groups called on Thursday for government action to ensure there is no supply interruption this winter
Yangoon - Myanmar's military rulers have approved new investment in projects worth nearly $2.8 billion, including a liquefied natural gas (LNG) power plant that will cost $2.5 billion, the country's investment body said. Approvals for 15 projects were given on Friday by the Myanmar Investment Commission, according to a statement on the website of the Directorate of Investment and Company Administration
Singpore - Liquefied natural gas (LNG) cargoes are being diverted away from ports in India as surging coronavirus cases there hamper domestic gas demand, trade and shipping sources said on Monday. Six LNG tankers diverted away from India since April 20
Seoul - South Korea's antitrust regulator said Wednesday it has fined a French engineering company 12.5 billion won (US$11 million) for its unfair tie-in sales to South Korean shipbuilding clients
Rotterdam - The port of Rotterdam handled a total of 103.4 million tonnes of freight in the third quarter of 2020. Total throughput over the first nine months of the year stands at 322.3 million tonnes. This is 8.8% lower than the volume recorded in the equivalent period last year. The main throughput categories to record a decline in volumes were crude oil, iron ore, coal and mineral oil products
La Spezia - It took five hours yesterday to complete the first refueling of LNG in Italy on the quay, from ship to ship. La Spezia, the only national port to make the operation possible, will be replicated in three weeks. Always with "Costa Smeralda", the flagship of the Genoese company, which points its bow on the Gulf of Poets every Sunday until mid-November
Paris - France will stop providing state export guarantees to projects involving dirty forms of oil such as shale from next year, followed by all types of oil from 2025 and gas from 2035, the finance ministry said on Monday. The French state stopped giving export guarantees, which companies often need to get bank credit, to projects this year where fracking and flaring were involved and also dropped its financial support for coal developments
London - Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets. Shell's new cost-cutting review, known internally as Project Reshape and expected to be completed this year
London - As melting sea ice opens the Arctic to navigation, more ships are plying the loosely regulated polar waters, bringing increasing amounts of climate-warming pollution, a Reuters analysis of new shipping and fuel-consumption data shows. Traffic through the icy region's busiest lane along the Siberian coast increased 58% between 2016 and 2019
Beijing - China bought only 5% of the targeted $25.3 billion in energy products from the United States in the first half of 2020, falling well short of its trade deal commitments at a time when relations between the two top economies are already sour. China's imports of crude oil, liquefied natural gas (LNG), metallurgical coal and other energy products totalled around $1.29 billion this year through June
Seoul - Daewoo Shipbuilding & Marine Engineering (DSME) announced on June 8 that it has won an order for two 360,000-square-meter LNG-barges from a Russian client for about 901.3 billion won. An LNG-barge is a floating LNG terminal in the sea. It is a facility that receives and stores LNG from icebreaking LNG carriers at sea and unloads it onto regular LNG carriers
