Spain imports N1.49tn crude oil from Nigeria in 2014





Spain imports N1.49tn crude oil from Nigeria in 2014


ABUJA: The Head of Economic and Commerce of the Spanish Embassy in Nigeria, Mr. Pablo Segrelles, has said that €6.5bn (N1.49tn) worth of crude oil was exported from Nigeria by his country in 2014.

He said the huge volume of oil and gas exported from Nigeria exceeded the volume of goods sent to the country by Spain.

Speaking at a business luncheon organised by the Nigerian-Spain Association on Wednesday, Segrelles said the business relationship between both countries would extend to other sectors because of the diversification of Nigerian economy.

He said, “There has always been productive relationship business relationship. Spain

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BW LPG Doubles Annual Profit





Singapore-headquartered gas carrier owner and operator BW LPG has reported a net profit after tax of USD 255.7 million in fiscal year 2014, over two times more compared to USD 125 million profit recorded in 2013.

Operating revenue increased to USD 747.4 million in FY 2014, compared to USD 449.2 million in 2013.

The company almost doubled the time charter equivalent earnings (TCE) in 2014, which rose from USD 288.7m recorded in 2013, to USD 539.2m in 2014.

The increase in the company’s TCE was mainly attributable to improved freight rates, particularly from the Very Large Gas Carrier (VLGC) segment, and increased fleet size and utlilisation.

BW LPG has further expanded its VLGC fleet with today’s delivery of BW Carina, the second in its newbuilding program of

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Oil price decline 'should not impact on dual-fuel LNG carriers'

Joe McGladdery a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the liquefied natural gas (LNG) charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and operators.

In an emailed statement, McGladdery commented: "As a result of the oil price collapse, energy companies are reducing capital budgets to protect against falling revenues. Given the investment levels needed to sustain an LNG production project, the final decision to proceed with a number of projects has been put on hold. This uncertainty over the progress of production projects has exerted further downward pressure on an already static charter market for LNG carriers,

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PTT eyes 3 million tonnes of spot LNG in 2015


PTT of Thailand could import 3 million tonnes of LNG from the spot market during 2015 due to lower prices. 

PTT’s Chief Executive Pailin Chuchottaworn said this is part of the company’s plan to import 5 million tonnes to up the use of its receiving terminal, reports Reuters.

Pailin added that a decline in domestic gas supplies could force the company to raise its LNG imports. Thailand produces close to 70 percent of its electricity using natural gas and PTT’s deal with Qatargas to import 2 million tonnes per year cover about 6 percent of the country’s total consumption.

According to PTT, it is expected that Thailand’s gas consumption will grow by 3.1 percent a year on average from 2015 to 2019.

Canarias tendrá gas a mediados de 2018




La Opinión de Tenerife

La construcción de la planta de Granadilla generará unos 1.500 puestos de trabajo

ana martínez 18.02.2015 | 12:46

Instalaciones de la planta regasificadora que Enagás tiene en Huelva. LOT

La culminación del proceso de compra de Gascan por parte del gestor nacional Enagás ha clarificado el horizonte de la llegada del gas al Archipiélago. Tanto que ya tiene fecha. La compañía calcula que la planta de Granadilla de Abona estará en marcha en la segunda mitad de 2018. La de Gran Canaria, lastrada por el rotundo rechazo que ha suscitado, aún no tiene ni emplazamiento cierto.

A la regasificadora de Tenerife, en cambio, apenas le quedan pendientes "trámites

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