Gazprom and Mitsui sign LNG cooperation agreement
Russia’s biggest natural gas producer Gazprom has teamed up with Japanese trading firm Mitsui and Co. to sign a liquefied natural gas (LNG) cooperation agreement.
It is understood that the Framework agreement outlines that the companies will partner for the production and sale of LNG located in Japanese territory.
“The document reflects the parties’ striving toward cooperation in production, transportation and marketing of small and medium-scale LNG on the territory of Japan, as well as LNG bunkering in the Sea of Japan,” Gazprom said in a statement.
As one of the world’s leading LNG consumers, the production, transportation and marketing of the LNG will likely remain within Japanese borders, as the country accounts for 35% of total LNG imports worldwide.
Gazprom also revealed the clarification of provisions in its memorandum of understanding with the Japan Bank for International Cooperation, signed last year.
The announcement of Gazprom and Mitsui’s agreement comes amidst big changes in the LNG industry, as companies have increasingly begun to move away from long-term fixed destination contracts for the commodity.
Instead, Japanese and Korean buyers, some of the largest buyers of the commodity, are signing full or partial short-term contracts that are linked to LNG price indices.
Similarly, in the same week, Gazprom have announced the launch of its new energy tool named InSight, aimed at allowing consumers and energy consultant partners to buy energy strategically using a real-time market view.
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."