Liquefied natural gas

Private Greek industrial group Mytilineos has overtaken incumbent DEPA to become the country's biggest LNG importer this year, the first time in history that an independent company has knocked the state-owned company from the top spot, ICIS an information platform on petrochemicals and specifically on energy issues, fertilisers and other commodities said in a report.

Three joint ventures have been selected by Cyprus in the first stage of a tender to provide a floating storage and regasification unit (FSRU) to import liquefied natural gas (LNG).
The first joint venture is led by China Petroleum Pipeline Engineering, Natural Gas Public Company of Cyprus (DEFA) said on its website.

Global orders for new oceangoing vessels dropped to record lows after the year's second quarter, but Greek shipowners remained the leaders in orders across the entire range of tankers and liquefied natural gas carriers, according to a survey by VesselsValue.

Less than a year after it was upgraded with a third tank, the gas terminal on the island of Revythousa is confirming its strategic role as a feeder of the broader Balkan market, as on August 31 it will receive the first liquefied natural gas load destined for Bulgaria that is procured directly by a Bulgarian company.

The shortsea shipping industry is being left behind in the effort to adjust to new global environmental regulations despite it being the maritime domain that needs clean fuel the most. Still, the positive impact of these regulations is the subject of some dispute.

Liquefied natural gas (LNG) deliveries to Italy, Spain, Greece, Portugal and Turkey in May rose 16 percent from April, and were up 53 percent from the same month a year ago, Refinitiv data show.
June deliveries this year are set to be higher than in 2018.
[Reuters]

Cyprus struck a preliminary agreement with Noble, Shell and Delek for the allocation of revenues from the utilization of the Aphrodite deposit and the transfer of natural gas by underwater pipeline to the Idku LNG terminal in Egypt.

Imports of liquefied natural gas (LNG) are hampered by the decision of the Regulatory Authority for Energy over the pricing of the natural gas network, reversing the strategic advantages of the Revythousa terminal for the broader region and depriving Greek enterprises of a relatively cheap source of energy.

The number of new liquefied natural gas-powered vessels will almost double around the globe this year, as the deadline for slashing the sulfur content of bunker fuel is fast approaching, but their further increase to significant figures greatly depends on the improvement of infrastructure, a senior market monitoring official tells Kathimerini English Edition.

Kathimerini reports that stakeholders in the Aphrodite gas field have agreed to commit natural gas from Cyprus' Block 12 to Egypt's LNG facilities from where it will be exported to international markets. A few legal details remain and are expected to be clarified within days.