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Total Buys Engie’s LNG Business

Total Buys Engie’s LNG Business
French energy company Total has purchased Engie’s upstream liquefied natural gas (LNG) business for USD 1.5 billion.

The final price could rise by USD 550 million in the event of a major oil market improvement in the next few years. The purchase makes Total the world's second largest LNG enterprise. Their fleet will increase to 18 LNG carriers.

Engie’s goal is reducing its exposure to commodity prices. The French utility company will keep its downstream operations, including end-customer sales.

“This transaction makes Total the second largest global LNG player among the majors with a worldwide market share of 10% and the group will manage an overall LNG portfolio of around 40 Mt per year by 2020. It also helps us to build a position in the US LNG market, with the 16.6% stake in the Cameron LNG project,” Patrick Pouyanné, Chairman & Chief Executive Officer of Total, said.


MOL Joins Research


Japan’s shipping major Mitsui O.S.K. Lines has started a wide-ranging research partnership aimed at advanced navigation support system developing.

The company said it jointly agreed on the project with MOL Techno-Trade, National Institute of Maritime, Port and Aviation Technology, and Tokyo University of Marine Science and Technology.

In the joint study, all parties will conduct basic research on advanced navigation support system, which is required for safe conventional ships navigation as well as the autonomous ships of the future.

Especially, the study aims to develop a navigation support system that introduces the concept of Obstacle Zone by Target (OZT), one of the ship collision risk index, leading to the application of technologies such as Automatic Radar Plotting Aid (ARPA).


Suez Canal Wants More LNG Transits

Suez Canal Wants More LNG Transits
In an effort to attract more LNG tankers to transit the Suez Canal, the Suez Canal Authority has increased the allowed level of cargo residues on LNG tankers.

“The Suez Canal Authority (SCA) always pays attention to its users’ best interest, and has recently taken more steps towards becoming more competitive when compared to other routes. LNG vessels passing Suez Canal carrying cargo till 5% of its summer deadweight ton will be treated as ballast vessel rather than loaded one saving 15% of Suez Canal tolls,” the canal authority stated.

This means that, starting on July 1, the allowed residues of LNG cargo will be 5 percent of the vessel’s summer deadweight tonnage instead of 2 percent.

The Suez Canal has reported its highest annual revenue of USD 5.85 billion, an increase of 11.5 percent from the previous year.


Repo Sale !

Please, check this list of the cars from our repossessed inventory, the cars with great discounts and minimum fees!

REPO sale - https://www.auctionexport.com/cars/repo

If you have any questions, please contact our Customer Support Department for immediate assistance nadine@auctionexport.com.


Independence Day Holiday July 4th, 2018

Dear AuctionExport clients,

Our office will be closed on Wednesday July 4th in observance of the USA Independence Day Holiday.
Regular working hours will resume on Thursday July 5th, 2018.

If your matter is urgent please email info@auctionexport.com

Thank you

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