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NLNG plans to book three firm 174,000-cbm LNG carriers, according to the sources.

“Many” yards are now bidding to build these vessels, the sources said.

The sources did not provide further details.

LNG Prime invited NLNG to comment on the matter.

NLNG is a joint venture owned by state-controlled Nigerian National Petroleum Corporation (49 percent), Shell (25.6 percent), TotalEnergies (15 percent), and Eni (10.4 percent),

Its giant Bonny Island liquefaction plant currently hs six train and a capacity of 22 mtpa.

Besides the six existing trains, Nigeria LNG is also adding the seventh production unit at the Bonny Island plant.

The NLNG Train 7 project consists of the construction of one complete LNG train and one additional liquefaction unit.

The new unit will add around 8 mtpa of capacity to the Bonny Island facility for a total of about 30 mtpa.

The new move is part of NLNG’s fleet renewal initiative, which aims to diversify and reduce the carbon footprint of the company’s shipping portfolio.

According to NLNG’s website, the firm operates a fleet of 23 vessels under long-term time charters, dedicated to transporting LNG from its Bonny plant.

These include 13 vessels (six TFDE and event steam ships) owned by its shipping unit Bonny Gas Transport (BGT).

The remaining vessels are owned by Japan’s NYK (eight steam ships), and BW Gas (two steam ships).

As part of its fleet renewal, NLNG’s BGT chartered newbuild vessels Aktoras and Axios II.

These 174,000-cbm LNG carriers, built in 2024, are owned by Capital Clean Energy Carriers.

It is worth mentioning here that, last year, NLNG’s biggest shareholder started delivering cargoes to Japan and China on a delivered ex-ship basis

NNPC said at the time that its subsidiary NNPC Shipping intends to build a shipping portfolio, including owned vessels.

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CSSC Holdings said in a stock exchange that its unit Jinagnan has signed a contract on Friday to build LNG dual-fuel container vessels.

The order is worth between 18 billion yuan and 19 billion yuan, or $2.47 billion to $2.6 billion.

CSSC Holdings said the deliveries will take place in 2028 and 2029.

The group said that the shipowner is Jiangnan’s long-term partner, but it did not provide further details.

Shipbuilding sources told LNG Prime that France’s CMA CGM has ordered these vessels.

Last month, LNG Prime was the first to report that CMA CGM and CSSC’s Jiangnan signed a letter of intent for 12 LNG dual-fuel vessels with a capacity of 18,000 teu.

This means that the partners have now finalized the shipbuilding deal.

Based on the CSSC Holdings announcement, each of the LNG dual-fuel containerships is worth between $205 million and $215 million.

Jianganan and CMA CGM have been cooperating for years. Jiangnan previously built, along Hudong-Zhonghua, the first batch of CMA CGM’s giant 23,000-teu LNG-powered containerships, as well as other sizes such as the six 15,000-teu LNG-powered containerships, which were completed last year.

The sources previously said that the new vessels are expected to be similar to the ones CMA CGM recently ordered at South Korea’s HD Hyundai Heavy Industries.

In January, CMA CGM booked 12 LNG dual-fuel vessels with a capacity of 18,000 teu at HD Hyundai Heavy.

This order is worth about 3.72 trillion won ($2.59 billion) or some $216 million per vessel.

HD Hyundai Heavy will deliver these containerships by December 2028.

Also, these ships are said to feature MAN dual-fuel engines and GTT’s Mark III containment tech.

CMA CGM is one of the world’s largest backers of LNG fuel, and it has set a goal of achieving net zero carbon emissions by 2050.

Pioneering the use of alternative fuels, the group has invested more than $18 billion in orders for more than 131 dual-fuel vessels, which will be operational by 2028.

Most of these container vessels are powered by LNG.

 

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Sources told LNG Prime that Venture Global is interested in booking three firm LNG carriers with more options at yards in South Korea and China.

However, there is no certainty that this order will be finalized.

No further information has been revealed.

LNG Prime invited Venture Global to comment on the fleet expansion plans.

In March last year, Venture Global announced that it had nine LNG carriers on order in South Korea, further advancing its business integration across the entire LNG supply chain.

Six of these vessels have a cargo capacity of 174,000 cbm, and three have a cargo capacity of 200,000 cbm.

The LNG carriers are being built at South Korea’s Samsung Heavy and Hanhwa Ocean.

Last year, Samsung Heavy delivered the 174,000-cbm Venture Gator and Venture Bayou to the US LNG exporter, the first two vessels in Venture Global’s fleet.

The remaining LNG tankers are scheduled to be delivered on a rolling basis through 2026.

In addition, Venture Global revealed in its IPO statement last year that it has chartered two LNG carriers, adding to its fleet of owned vessels.

The vessels were delivered in August and September 2024, bringing its total shipping portfolio to a total of eleven LNG carriers.

Venture Global currently produces LNG at its 10 mtpa Calcasieu Pass LNG terminal in Louisiana.

The company expects to launch commercial operations at its Calcasieu Pass LNG terminal on April 15, some 68 months from its final investment decision and 38 months after production start.

In addition, Venture Global started producing LNG at the Plaquemines LNG plant in Louisiana on December 13, 2024, and the first shipment left the facility for Germany some two weeks later.

Venture Global is targeting a COD (commercial operations date) for the Plaquemines project in the third quarter of 2026 for Phase 1 and the second quarter of 2027 for Phase 2.

It recently also received approval from FERC to boost the capacity of its Plaquemines LNG terminal to 27.2 mtpa.

Besides these two projects, Venture Global is working on the proposed CP2 LNG project in Louisiana, the Delta project, and its fifth project, CP3.

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The global offshore wind industry is poised for a rebound in 2025, with capacity additions expected to reach 19GW and sector-wide expenditure projected to hit $80bn, a new Rystad Energy report suggests.

This recovery follows a slowdown at the end of last year when new installations dropped to approximately 8GW which is 2GW lower than the year prior.

A record wave of lease auctions is driving the resurgence, with the world’s largest offshore wind market, mainland China, accounting for 65% of new capacity. With this increase, Rystad believes that total additions will exceed the previous peak in 2021 by about 1GW, surpassing the 7.7GW added in 2024, 10.2GW in 2023, and 9.3GW in 2022.

A record 55GW of offshore wind capacity was offered in lease auctions globally in 2024, excluding mainland China. However, not all this capacity has yet been awarded, as offered capacity does not always translate into awarded capacity.

For instance, the US saw no bids for its 3GW floating wind auction in Oregon last year, while the Gulf of Maine auction awarded roughly 7GW of the approximately 13GW offered.

Despite 2024’s record offerings, Rystad claims that the lease auction openings are projected to decline in 2025, with an expected 30-40GW available. While significantly lower than 2024, this projected offered capacity is aligned with levels seen in 2021 and 2022.

The intelligence firm said in the report that the global offshore wind would have a robust year in 2025 but also sees signals that could affect its smooth upward trajectory.

Most important of which is the US federal policy which is creating significant global ripple effects hindering offshore wind development, especially where a large portion of auctioned capacity lies.

President Donald Trump’s executive order from January halting new leasing and approvals on the Outer Continental Shelf, citing environmental and safety concerns, could last throughout his term pausing new developments and creating continued uncertainty for ongoing projects,

“Project delays significantly impacted final investment decisions for new offshore wind projects in 2024, leading to a decline in project approvals. Notably, 2024 saw only a few US projects reach FID, including Empire Wind 1, Sunrise Wind, and Coastal Virginia Offshore Wind. We expect to see around the same level of FIDs this year as last in Europe and Asia, and some possible upside in the US with US Wind, Southcoast Wind, and New England Wind projects obtaining offtake agreements and construction and operation approvals. The latter two just postponed signing offtake contracts until March this year,” said Petra Manuel, senior offshore wind analyst at Rystad.

Despite a slower 2024, the year saw developers advance projects like Red Rock Power and ESB’s 1.1GW Inch Cape in the UK, and Equinor’s 810MW Empire Wind 1 in the US. Other wind farms reaching FID in 2024 include Iberdrola’s 315MW Windanker in Germany, RWE and TotalEnergies’ 795MW OranjeWind in the Netherlands, and Orsted’s 924MW Sunrise Wind 1 in the US.

Rystad believes that the UK, Poland, and Germany are set to lead a surge in European FIDs in 2025, reaching 9.5GW with several projects in these countries on track for final approval. Poland is expected to see multiple major wind farms reach FID including Polenergia and Equinor’s Baltyk II and III, following the recent FID for Orsted and PGE’s Baltica 2.

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PetroVietnam Gas seals long-term LNG supply deal for Nhon Trach power plants

March 3, 2025 Mariel Alumit

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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

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Stuart Turley: [00:00:09] Hello, everybody. Welcome to the Energy Newsbeat podcast. My name is Stu Turley, president of the Sandstone Group. It is nutty out there on the desk. Let’s take a look. Petro -Vietnam gas seals long term LNG supply for non -talk power plants. Pretty darn cool. You got to love LNG to power. Let’s go to David Blackmon. This came off of the Daily Caller, I believe. Trump could upend every facet of the Obama -Biden climate agenda in one fell swoop. If you just hold a breath for about five minutes, it changes again. This one’s pretty cool. Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, and Algeria and Oman are all part of the OPEC Plus Group, and they reaffirm commitment to market stability on healthier oil market outlook. Buckle up, lower prices coming around the corner. Ukraine strikes a major Russian oil refinery for a second time in three days over the weekend. I think we’re all kind of tired of that war. Let me just take a second here. What do you think the definition of insanity is? Is it doing the same thing again and again and again expecting a different result. Well, is the EU insane? The EU unveils an ambitious plan to slash energy bills by 2 .5 trillion. Hold your breath. It is all entertainment coming around the corner on this one. Holy smokes, you cannot buy that kind of stupid. [00:01:48][98.9]

Stuart Turley: [00:01:49] Let’s start with Petro -Vietnam. Petro -Vietnam gas sells long -term LNG supply deal for the non -trock power plants. I like this from the standpoint that we’re seeing more and more LNG to power plants. We’re also seeing more and more LNG. bunkering facilities. We’re also seeing more and more just ships, cargo ships, ships of all kinds being made of LNG. We’re also seeing LNG trucking. I’m kind of like it because it’s going to be lower emissions for the environment. According to the PV gas statement, two units of state owned Petro Vietnam signed the LNG supply contract for Vietnam’s first two LNG power plants for 25 years. It’s pretty cool. When you take a look at that, That means that people can put in production, they can put in tankers. South Korea Samsung and CT secured a contract from PV Power to build the plants in a consortium with Vietnamese contractor Laima. I hope I pronounced that correctly. In November 21, PV Power broke ground on the Nocton three and four plants in the Southern province of Don Nai, which are about $1 .4 billion. Pretty darn cool. That came from LNGprime .com. [00:03:06][76.9]

Stuart Turley: [00:03:07] Let’s go to the next story here. David Blackmon, Trump could upend every faucet of the Obama -Biden climate agenda in one fell swoop. This is an amazing story from David Blackmon. The Washington Post reported Wednesday, the Environmental Protection Agency, the EPA Administrator, Lee Zeldin, has privately urged the White House to strike down a scientific ruling under my underpinning much of the federal government’s to combat climate change according to three people briefed in the matter who spoke on the condition and with anonymity because they were not authorized to publicly comment. Oh my goodness, the legality and continuing of applicability of the Administrator’s finding endangered meant and cause for contribute for findings for greenhouse gasses under section 202a of the Clean Air Act final rule. The Obama’s EPA finding was established in the 2007 5 -4 ruling by the Supreme Court in Massachusetts versus the EPA allowing the agency to regulate greenhouse gasses as pollutants in the context of the Clean Air Act. Given that the so -called greenhouse gasses or water vapor, methane, and carbon dioxide are all naturally occurring elements, a ruling of classifying them as pollutants as a term intended by authors of the Clean Air Act in 1963 was absurd on its face, but that didn’t stop the five justices from imposing their political will. We are seeing a resurgence around the world and the United States is taking the lead on the return to some kind of normalcy and sanity. This was an outstanding article from David Blackmon. [00:04:54][106.8]

Stuart Turley: [00:04:54] Let’s roll to OPEC Plus. Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman reaffirmed their commitment to the stability of a healthier oil market. This was out of the press release from the OPEC Plus website. Taking into account the healthy market and the positive outlook, they reaffirmed their decision in return of the 2 .2 million barrels per day a voluntary adjustment starting on 1st of April, 2025. This is not an April fool’s joke. They are gonna be pumping more oil while remaining adaptable to evolving conditions. Accordingly, this gradual increase may cause or reverse subject to market conditions. And when you take a look at the amount of oil that is being produced as in millions of barrels, there’s a lot of numbers in that chart when you take a look at it. Required production levels as per the 38th O -N -O -M -M before applying the additional voluntary announced on April 23rd, November 23rd. It’s pretty cool. So, hey, it’s gonna be lower prices. And I think that you’re gonna see, this is again, I think even with all this world turmoil right now, we are poised to see an end to the war and sanctions against Russia. I think sanctions on Iran are still going to be enforced and withheld. So that one, I don’t know that they’ll be able to do anything with. [00:06:27][92.5]

Stuart Turley: [00:06:27] Let’s take a look at Ukraine strikes a major Russian oil refinery for a second time in three days, an official says. Long range drones struck Russia’s biggest oil refineries for the second time in three days, a senior Kiev official said Monday. As Ukraine tries to slow the Russian army, push along the parts of the border on the third anniversary of the war. Russian authorities and acknowledged only a brief fire at the Volgograd refinery in the drone attack. The Ukrainian defenses are creaking under a manslaught. The Russian drive to occupy more land, especially in Ukraine’s eastern industrial heartland before the possible start of peace negotiations. So it’s going to get tough here. I hope that we can see an end to the war here. The refinery is located 480 kilometers or 300 miles behind the front line. And the plant is even further away. The Estoran plant is about 800 kilometers. The Russian military said it destroyed 70 Ukrainian drones over six Russian regions during the night. So they kind of retaliated on that. [00:07:39][71.6]

Stuart Turley: [00:07:39] Hey, I want to take just a real quick moment here and say thank you to Steve Reese and his staff over there at Reese Consulting for sponsoring the Energy Newsbeat podcast, working on some natural gas stories coming up around the corner for tomorrow. We’re excited about what Reese Consulting has going on. And if you’re in the natural gas space, if you’re in Europe and you want LNG, check out Reese Consulting. If you are in Asia market and you want LNG, call, if you want a power plant, call Reese Consulting. So they, if you want anything to do with natural gas, call Reese Consulting. Hats off to them. I’m looking forward to more podcasts with Steve in Oklahoma City. So let’s have some fun. [00:08:23][43.2]

Stuart Turley: [00:08:23] The last story for today, EU unveils ambitious plan to slash energy bills by $2 .5 trillion pounds, excuse me, or euros. When you sit back and take a look, the definition of insanity is doing the same thing over and over. And if you take a look at what the insanity is in the European Commission, and that is bad energy policies, shoveling money after green energy. The European Commission has introduced an action plan to save 2 .5 trillion euros in energy bills over the next 15 years, addressing the rising energy poverty affecting 47 million people in the EU. This is critical. The plan focuses on bringing short -term relief to consumers. How are they gonna do that? they’re going to, despite significant growth in the renewable energy, major hurdles such as grid volatility and regulatory delays need to be addressed to ensure successful energy transition. I don’t know if anybody needs to tell them that the energy transition will not happen without lots of nuclear and it just isn’t going to happen. Three years after Russia invaded Ukraine, the European Union is still dealing with the economic fallout resulting of an energy crisis. It has continued to reverberate through the European markets, blistering high energy prices are drastically impacting consumers throughout the block. It’s estimated that approximately 47 million people in the EU countries are living in energy poverty, a 57 % increase since 2019. This is really, really sad. The action plan outline steps to bring short -term relief, but yet we’re driving down energy prices, but it’s not giving us any specifics. It’s saying we’re going to have an action plan. The action plan is not here. So you can’t buy stupid, but you can move to where stupid controls it. Anyway, this is for Haley Zimbera for oilprice .com. It was an outstanding article. [00:10:33][130.1]

Stuart Turley: [00:10:34] Please like, subscribe, Subscribe to our Energy Newsbeat, theenergynewsbeat .substack .com. Go to energynewsbeat .co. We have lots of people there every day watching the podcast. We have about 10 podcasts that are in the queue right now to just start rolling right on out. We’ve got a lot more coming around the corner. So thank you and have an absolutely fantastic day. Hug your pets, hug your family, and do something awesome. [00:10:34][0.0[620.1]

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According to a statement by DOE, the order modifies a prior order issued to Jax LNG under the previous administration that asserted new oversight for the use of LNG to power marine vessels, also known as LNG bunkering.

Jax LNG is a small-scale coastal LNG facility located at Dames Point near Jacksonville, Florida that provides LNG as fuel to ships, including cruise ships, car carriers, petroleum tankers, and containerships.

The facility has a capacity of 360,000 gallon per day LNG with 4 million gallons of storage.

It is a joint venture between Seaside LNG and Pivotal LNG, a subsidiary of BHE GT&S.

By issuing an order on rehearing, DOE is modifying an order originally issued in December 2024.

The modified order clarifies that DOE is withdrawing the exercise of its jurisdiction under the Natural Gas Act (NGA) for ship-to-ship transfers of LNG for marine fuel use at a US. port, in US waters, or in international waters.

The only bunkering-related activity that will continue to be considered an export is when there are ship-to-ship transfers of US LNG when the receiving ship is located in the territorial sea of a foreign country, including foreign ports, according to DOE.

DOE has left unchanged its authorization to Jax to export LNG via ISO container.

DOE said use of LNG for marine fuel has increased in recent years and is expected to continue to increase amid more stringent emissions regulations for shipping.

According to the IEA’s January 2025 quarterly gas report, based on the current order book for vessels, the number of LNG-fueled ships is expected to almost double and reach over 1,200 vessels by 2028.

DNV’s data recently showed that orders for LNG-powered vessels jumped 103 percent to 264 ships last year.

“Today’s action is a significant step in reducing regulatory burdens and helping this important segment of the LNG market continue to grow,” said Tala Goudarzi, principal deputy assistant secretary of the Office of Fossil Energy and Carbon Management.

 

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