Sri Lanka: Petronet and Mitsubishi and Sojitz Corp to build $300mn LNG terminal
The Indian gas firm, Petronet, and Japanese Mitsubishi and Sojitz Corp have announced their partnership to develop Sri Lanka’s first liquefied natural gas (LNG) terminal.
The floating terminal will be located near the country’s capital, Colombo, and will cost the firm’s US$300mn.
According to the CEO of Petronet, Prabhat Singh, the terminal will have a 2.6mn to 2.7mn tonne annual LNG capacity.
Initially, the facility was only anticipated to have a 1.5mn to 2mn tonne capacity per year, but this was increased to meet power plant demand.
“We are in the process of signing MoU with the Sri Lankan government for setting up of the LNG terminal,” the Economic Times reported Singh saying.
“Once the MoU is signed this month, some project related studies will be done before beginning work on the terminal.”
“Commercial details like exact size of the plant and investment will be worked out in the detailed feasibility report to be commissioned after signing of the MoU. Broadly, it would be about USD 300 million investment.”
Petronet will have a 47.5% stake in the project, with Mitsubishi and Sojitz owning 37.5%, and the remaining 15% to be owned by a Sri Lankan entity.
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."