Oil & Gas

Cameroon FLNG gas convention signed

A milestone has been reached in the Cameroon floating liquefied natural gas project after parties signed a gas convention. The final investment decision commits the project to a targeted start date for commissioning in the second quarter of 2017. At a signing ceremony in Cameroon the country’s state-owned oil company Société Nationale des Hydrocarbures (SNH), Perenco Cameroon, Golar Hilli Corporation and Golar Cameroon executed a an agreement which endorses and governs the installation and operation of the GoFLNG vessel in Cameroon waters offshore of Kribi.

Other News

LNG vessel owners form first ship pool as spot trade expands

Dynagas Ltd., GasLog Ltd. and Golar LNG Ltd. agreed to jointly market their liquefied natural gas tankers for spot charters as trading of flexible cargoes widens. The Cool Pool, the first-ever LNG carrier pool, will open in September with 14 ships, the companies said Tuesday in a joint statement. It will include accords for 12 months or less. LNG spot trading is expanding as new Australian supply adds to output and the US prepares to start exporting the fuel from its Gulf Coast this year. New importers including Egypt are driving demand as buyers under long-term deals such as Japan and South Korea curb purchases amid lower usage. Spot fixtures in the LNG shipping market rose to 97 this year through the middle of August from 78 a year earlier, according to GasLog, which owns 19 carriers.