Latest news with #NaturalGas
Borneo Post
2 days ago
- Business
- Borneo Post
Petronas, Kogas sign MOU to drive global energy innovation and sustainability
Photo shows the MOU between Petronas and Kogas, represented by Shamsairi (left), Petronas executive vice president and chief executive officer of gas and maritime, Datuk Adif Zulkifli (middle) and Oh. KUALA LUMPUR (June 19): Petroliam Nasional Bhd (Petronas) and Korea Gas Corporation (Kogas) have strengthened their long-standing partnership with the signing of a memorandum of understanding (MOU) aimed at driving innovation and sustainability within the global energy sector. The MoU not only reinforces Petronas' commitment as a long-term Liquefied Natural Gas (LNG) supplier to Kogas, but also in advancing cleaner energy solutions through opportunities in carbon capture and storage (CCS), renewable energy and hydrogen development to address pressing climate challenges. Vice president of LNG marketing and trading, Shamsairi Mohd Ibrahim said, 'This continued collaboration with Kogas signifies a key milestone in our longstanding partnership and reaffirms our shared commitment in advancing innovative and sustainable energy solutions.' A pivotal advancement in the longstanding partnership established since 1991, Petronas looks forward to driving progress across the energy value chain with Kogas, leveraging their combined expertise to deliver cleaner, more reliable energy to global markets in shaping a low-carbon future. Kogas senior vice president of hydrogen and new business unit, Oh Kwon Taek, also added: 'We hope that today's signing of this MOU will serve as a meaningful milestone, enabling our two companies to combine complementary strengths. 'As we move forward together, we are confident that this partnership will not only contribute to the development of both companies but also play a vital role in promoting sustainable energy solutions.' CCS corporate news oil and gas Petronas renewable energy
Barnama
4 days ago
- Business
- Barnama
PETRONAS And Commonwealth LNG Sign 20-Year Agreement For Sustainable LNG Supply
KUALA LUMPUR, June 17 (Bernama) -- PETRONAS through its subsidiary PETRONAS LNG Ltd. has entered a Liquefied Natural Gas (LNG) Sale and Purchase Agreement with Commonwealth LNG, LLC (Commonwealth LNG) marking a key milestone in its strategy to diversify its LNG portfolio through long-term supply from the United States. Under the SPA, PETRONAS is purchasing one million tonnes per annum (MTPA) LNG from Commonwealth LNG for a period of 20 years from Commonwealth's 9.5 mtpa facility currently under development in Cameron, Louisiana.
Yahoo
13-06-2025
- Business
- Yahoo
LNG Bunkering Industry Report 2025: Market to Reach $46.5 Billion by 2034 from $2.9 Billion -
The LNG bunkering market, valued at USD 2.9 billion in 2025, is projected to grow at a 35.9% CAGR, reaching USD 46.5 billion by 2034, driven by decarbonization efforts and strict emissions regulations. Key factors include expanding infrastructure, technological advances, regional hubs, and dual-fuel vessel use. Lng Bunkering Market Dublin, June 13, 2025 (GLOBE NEWSWIRE) -- The "Lng Bunkering Market 2025-2034" has been added to Liquefied Natural Gas (LNG) bunkering market is poised for significant growth, expecting to expand from a valuation of USD 2.9 billion in 2025 to global sales of USD 46.5 billion by 2034, with an impressive compound annual growth rate (CAGR) of 35.9%. This market is essential to the maritime industry as it moves towards environmentally-friendly fuels, propelled by regulations like IMO 2020 that aim at reducing greenhouse gas emissions. LNG bunkering involves supplying LNG as a cleaner alternative fuel to traditional heavy oil used by ships. LNG reduces harmful emissions, such as sulfur oxides, nitrogen oxides, and particulate matter, supporting cleaner marine operations. The market's infrastructure encompasses bunkering vessels, onshore storage terminals, and truck-to-ship delivery systems, thus supporting various marine vessels operating globally. In response to policy changes and the growing adoption of LNG-fueled ships, the market saw rapid expansion in 2024. Infrastructure enhancements took place at pivotal ports across Europe, North America, and Asia-Pacific, incorporating dedicated barges and mobile refueling units. The demand for dual-fuel ships increased among logistics and cruise companies, demonstrating solid market confidence in LNG's role as a transition fuel. Technological advancements in cryogenic systems and fuel monitoring have improved operations, while industry collaborations have promoted LNG as a standard marine fuel choice. As market dynamics evolve and regional LNG hubs solidify, integrating bio-LNG and e-LNG will enhance the sector's sustainability profile. The maturing frameworks for carbon pricing bolster LNG's appeal over traditional fuels, though exploration of alternatives like hydrogen and ammonia may impact its future role. Your Takeaways From this Report: Global LNG Bunkering market size and growth projections (CAGR), 2024-2034 Impact of geopolitical and economic changes on LNG Bunkering's supply chain. LNG Bunkering market share and outlook across diverse regions and countries. Analysis of key products, applications, and end-user growth projections. Evaluation of market trends, drivers, restraints, and opportunities. Porter's Five Forces analysis and technological developments. LNG Bunkering trade and value chain insights, including price trends. Profiles and strategies of leading industry companies. LNG Bunkering market news and developments. Key Insights LNG Bunkering Market: Growth in LNG bunkering infrastructure at key global ports reduces refueling delays. Dual-fuel vessel adoption across various shipping segments is increasing LNG demand. Digital systems enhance safety and efficiency in bunkering operations. Bio-LNG and synthetic LNG integrate into sustainable marine fuel strategies. Collaboration between port authorities and suppliers streamlines LNG logistics. Compliance with stringent emissions regulations promotes LNG adoption. LNG offers superior lifecycle costs and emissions benefits compared to traditional marine fuels. Government incentives are driving LNG infrastructure and vessel retrofit developments. Shipping industry's ESG commitments accelerate LNG's role in decarbonization. High infrastructure costs challenge adoption in smaller ports. Rise of zero-carbon fuels introduces uncertainties for LNG's long-term role. LNG Bunkering Market Segmentation: By Type Terminal To Ship Truck To Ship By End-User Yachts Cruise Ships Ferries and OSVs Bulk And General Cargo Fleets Other End-Users By Geography North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy, Rest of Europe) Asia-Pacific (China, India, Japan, Australia, Vietnam, Rest of APAC) The Middle East and Africa (Middle East, Africa) South and Central America (Brazil, Argentina, Rest of SCA) Key Attributes: Report Attribute Details No. of Pages 150 Forecast Period 2025 - 2034 Estimated Market Value (USD) in 2025 $2.9 Billion Forecasted Market Value (USD) by 2034 $46.5 Billion Compound Annual Growth Rate 35.8% Regions Covered Global Companies Featured LyondellBasell Industries NV Mitsubishi Chemical Group Corporation BASF SE Eastman Chemical Company Ashland Inc., World Fuel Services Crowley Maritime Corporation SHV Energy Engie SA Gaz-System Petrochina ENN Energy Holdings Limited Sinopec Guanghui Energy Company Limited Woodside Energy Santos Ltd Nauticor GmbH & Co. KG Engas Edison S.p.A LNG Croatio LLC Klaipedos Nafta AB Blue Grid Gas & Power Polskie LNG S.A Eagle LNG Partners Pivotal LNG Inc FortisBC NorthStar Holdco Energy LLC Conrad Shipyards LLC TOTO Maritime Petrobras Golar Power YPF Qatar Petroleum ADNOC LNG RasGas Company Limited The Spanish Egyptian Gas Company Damietta LNG Co Petroliam Nasional Berhad Sonatrac For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Lng Bunkering Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Hans India
13-06-2025
- Business
- Hans India
Big push to oil & gas infra in last 11 years
New Delhi: Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Thursday said that over the last 11 years, India's oil and gas sector has expanded steadily, from building modern refineries and pipelines to securing reserves and promoting cleaner fuels as part of the infrastructure revolution that is taking place in the country. The minister said, 'Infrastructure has been central to India's growth story under the leadership of Prime Minister Narendra Modi and these efforts in the oil and gas sector have strengthened the country's energy security and laid the foundation for a self-sufficient future.' Highlighting the infrastructure milestones in the oil and gas sector, Puri said that the country now has 23 modern operational refineries with a total capacity of 257 million metric tonnes per annum to produce petroleum products such as petrol, diesel, jet fuel and LPG The Piped Natural Gas (PNG) infrastructure that provides green cooking fuel to household kitchens in the country has been expanded to cover 733 districts across the country. Besides, Compressed Natural Gas (CNG) for fuelling vehicles is being provided across 8,000 retail stations to consumers nationwide. The minister also underlined that E20 ethanol blended petrol was now being made available for vehicles at all the retail outlets nationwide. He further stated that the Ministry's Compressed Bio-Gas (CBG) initiatives have resulted in the setting up of 106 plants with the combined capacity of 625 TPD. The minister also highlighted the ministry's initiative in setting up storage facilities for strategic petroleum reserves, on which the country can fall back in times of emergency and which assume importance during times of geopolitical reserves can also be dipped into at times when global prices skyrocket to provide a cushion to the national oil companies. The minister mentioned that the storage capacity at Pudur is 2.25 million metric tonnes (MMT), the Visakhaptnam facility has the capacity to store 1.33 MMT of crude oil while Mangalore has a storage capacity of 1.5 MMT.
Reuters
12-06-2025
- Business
- Reuters
NextDecade signs $9 billion contracts with Bechtel for construction of LNG sites
June 12 (Reuters) - U.S. liquefied natural gas producer NextDecade (NEXT.O), opens new tab said on Thursday that its units have finalized contracts with Bechtel Energy to construct train 4 and train 5 at its Rio Grande LNG facility, with a combined value of about $9 billion. Under engineering, procurement, and construction (EPC) contracts, NextDecade agreed to pay Bechtel about $4.77 billion under a renewed agreement for the fourth liquefaction train. For the fifth train, it executed an EPC contract worth about $4.32 billion. The company expects the pricing validity under the train 4 and train 5 contracts to extend through September 15, 2025, and it aims to achieve a positive final investment decision (FID) on train 4 before the end of the pricing validity period for its EPC contract. LNG developers typically reach FIDs on projects once they have secured enough supply deals to obtain the necessary financing for construction. In late May, the company signed a 20-year deal to supply Japan's power generator JERA with 2 million tonnes per annum of LNG from the fifth liquefaction facility at its Rio Grande project.
