India receives its cheapest LNG from Russia’s Gazprom
The Russian natural gas supplier, Gazprom, has launched supplies of liquefied natural gas (LNG) to India.
On 4 June, India received its cheapest ever LNG through a long-term deal, at the cost of $7 per million British thermal unit (mmBtu).
The nation’s 20-year-long deal will see the fuel supplied at $1.5 per mmBtu lower than India’s supply deal with Qatar.
Russia’s prices are also approximately $1.-1.5 cheaper per mmBtu than LNG from Australia and the US.
India’s Minster of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Dharmendra Pradhan, travelled to Dahej to see the shipment arrive.
Pradham dubbed the event a “Golden Day” for the nation and its energy future and explained how India created the deal.
“First we renegotiated price of LNG from Qatar, then reworked Australian supplied and now gas from Russia under renegotiated terms has started to flow,” commented Pradhan.
“Four years ago, we were importing LNG from only Qatar. Today we are getting LNG from Australia, US and now Russia.”
The deal is expected to see India receive $25bn worth of LNG from Russia over the 20-year period.
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."