Liquefaction

PAO Sovcomflot has signed a 13-year loan agreement with VTB Bank worth US$260 million to help finance the construction of an Arctic LNG tanker for the Yamal LNG project.

Novatek has entered a strategic cooperation agreement with Nuovo Pignone, covering the development of Russia’s oil and gas industry and Novatek’s LNG projects.

Cheniere Energy has withdrawn its application to construct LNG truck loading facilities at the Sabine Pass LNG terminal.

GlobalData’s latest report suggests that North America will drive liquefaction capacity growth in the LNG industry.

BigRoll Shipping has announced that it has received the BigRoll Bering vessel from Cosco Dalian Shipyard Co. Ltd for use in the Yamal LNG project.

Gazprom, Linde, Power Machines and Salavatneftemash have signed an Agreement of Intent to produce LNG equipment in Russia.

Saipem has released a statement claiming that it has signed a strategic partnership and cooperation agreement focused on LNG activities with Novatek.

Research from McKinsey Energy Insights suggests that LNG oversupply could last until 2024, unless low prices can stimulate a demand recovery.

According to Reuters, Novatek is planning to sell a portion of gas on the spot market from its Arctic LNG-2 plant.

According to Reuters, Vitol – a trading house – has won a tender to purchase the first cargo of LNG from the Chevron-led Angola LNG facility since it shutdown over two years ago to commence repairs.

Petrolia has announced financing for its Bourque Project by the Quebec government.

Alexey Miller and Ben van Beurden have signed a Memorandum of Understanding (MoU) on the Baltic LNG project.

Freeport LNG and CEO Michael Smith have contributed US$100 000 to Brazoria County for flood relief.

Jostein Ueland and Trym Tveitnes have resigned from their positions as Chief Financial Officer and Chief Technical Officer at Flex LNG.

WorleyParsonsCord has been awarded a contract to provide module assembly and field construction services for Cutbank Ridge Partnership.