Oil and Gas

LPG terminal opens in Gwadar

Gwadar port in Pakistan has opened its first LPG Terminal. The new facility was recently officially inaugurated by the Chinese Counsel General in Karachi, Li Bijian. Operations began with the arrival of the gas carrier Gas Esco, transporting 3,900 tonnes of LPG on a voyage from Sohar in Oman.

The terminal development project is the result of close cooperation between Al-Qasim LPG Gas and the China Port and Holding Company. “Today a new era of economic development has commenced from...

https://www.themaritimestandard.com/lpg-terminal-opens-in-gwadar/

LNG carrier added to Tristar fleet

Tristar Group has announced the recent delivery of the LNG tanker, Tristar Ruby, to its fleet. Formerly known as the British Ruby, the tanker is the first LNG vessel to be acquired by the Dubai-based company, which operates around 30 ocean-going tankers.

Tristar Ruby, which will be on long-term time charter with BP Shipping, was built by Hyundai Heavy Industries in 2008 and has a cargo capacity of 155,000 m3. The vessel will be technically managed by Wilhelmsen Ship Management and commercially...

https://www.themaritimestandard.com/lng-carrier-added-to-tristar-fleet-2/

Equinor And Partners Discover Oil & Gas In The North Sea

Equinor and partners ExxonMobil, Idemitsu and Neptune have discovered oil and gas in exploration well Echino South, 35/11-23, by the Fram field in the North Sea. Recoverable resources are estimated at 6-16 million standard cubic metres of oil equivalent, corresponding to 38-100 million barrels of oil equivalent.

“We are making one of this year’s biggest discoveries in the most mature area of the Norwegian continental shelf (NCS), not far from the Troll field. This demonstrates the opportunities...

https://www.marineinsight.com/shipping-news/equinor-and-partners-discover-oil-gas-in-the-north-sea/

BPGIC to expand Fujairah storage capacity

UAE-based Brooge Petroleum and Gas Investment Company (BPGIC) which has interests in oil storage and refining, has acquired additional land areas in the port of Fujairah as part of a Phase III development programme. The investment is expected to increase its storage capacity in the eastern emirate by over 300%, allowing it to take advantage of growing demand for storage and bunkering facilities outside of the Strait of Hormuz.

BPGIC has secured an initial lease agreement for the land in Fujairah...

https://www.themaritimestandard.com/bpgic-to-expand-fujairah-storage-capacity-2/

TechnipFMC & DNV GL To Set Benchmark For Trust In Oil And Gas Industry’s Digital Twins

Digital_Twin_1_utvidet_still_from_software_movie_allowed_to_use_externally-toward-a-digital-twin

TechnipFMC and DNV GL have entered into a partnership to develop the oil and gas industry’s first methodology for qualifying the integrity of digital twin technology.

The methodology aims to bring a level playing field to the sector’s varying technical definitions of, and expectations towards digital twins. It will set a benchmark for oil and gas operators, supply chain partners and regulators to establish trust in digital twin-generated data for performance and safety decision-making in...

https://www.marineinsight.com/shipping-news/technipfmc-dnv-gl-to-set-benchmark-for-trust-in-oil-and-gas-industrys-digital-twins/

ADNOC invests in tank storage business

The Abu Dhabi National Oil Company (ADNOC) is making what it describes as a “strategic investment” in the global storage terminal owner and operator, VTTI, acquiring a 10% stake in the Netherlands-based company. VTTI will continue to be managed by an independent management team led by chief executive, Rob Nijst.

The investment in VTTI gives ADNOC access to storage facilities across some of its key export markets, such as Asia, Africa and Europe, while also securing additional facilities at the...

https://www.themaritimestandard.com/adnoc-invests-in-tank-storage-business/

Oman port developments gather momentum

There have been a number of notable developments affecting Oman’s port sector in recent weeks. Sohar Port and Free Zone has, for example, announced that it is looking to lease out its deepwater Terminal 2D facility. The primary target markets are customers engaged in the metals or logistics sectors, but it could also be used as a terminal for bulk aggregates, cement or foodstuffs, the port states.

With its own waterfront access, Terminal 2D covers an area of around 750,000 m2 and is well...

https://www.themaritimestandard.com/oman-port-developments-gather-momentum/

Vopak invests in Port Qasim LNG facility

Rotterdam-based Royal Vopak is taking a 44% stake in Elengy Terminal Pakistan Limited (ETPL), following separate transactions with International Finance Corporation (IFC) and Engro Corporation. The investment gives the company a significant involvement in Pakistan’s fast-growing LNG trade. After final completion of the transaction, the shareholders in ETPL will be Engro and Royal Vopak.

ETPL’s wholly-owned subsidiary, Engro Elengy Terminal (Pvt) Ltd (EETPL), owns an LNG facility which is located...

https://www.themaritimestandard.com/vopak-invests-port-qasim-lng-facility/

Bahrain LNG terminal nears operational stage

Teekay LNG’s first Floating Storage Unit (FSU), Bahrain Spirit, has been delivered to its charterer Bahrain LNG. The vessel is being used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain.

Built in South Korea by Daewoo Shipbuilding & Marine Engineering, Bahrain Spirit will be used together with a jetty-mounted regasification unit at Khalifa Bin Salman port to enable LNG imports to Bahrain to start in early 2019. As well as the FSU, the new LNG import...

https://www.themaritimestandard.com/bahrain-lng-terminal-nears-operational-stage/

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