Industry Recognition & Awards
On August 30, 2016,
CWC announced the companies
shortlisted for its
Asia Pacific LNG Innovation Award
The CWC Asia Pacific LNG Innovation Award is given to a company operating in the Asia Pacific LNG industry that has excelled in terms of commercial or technical innovation during the previous 12 months. Below is a list of the nominees:
On May 25th, 2016, SCT&E LNG (dba Monkey Island LNG) successfully converted its fixed-price natural gas supply MOU into a fixed-price natural gas supply agreement with a 20-year term from commencement of operations. The first of its kind from a U.S. LNG developer, SCT&E LNG has essentially created a 27-year hedge on natural gas by offering “FIXED PRICE LNG” to its offtakers.
The inspiration behind this innovative commercial structure was to provide clients with a solution to the instability of traditional, indexed LNG contracts that lack price certainty and restrict free trade of LNG. The Company has signed five MOUs and is negotiating two binding agreements tied to its fixed-price gas supply. Representing a radical shift in the LNG market away from oil- indexed and Henry Hub pricing, offtakers can now hedge against market fluctuations while diversifying their portfolios.
Monkey Island LNG’s 20-year fixed price LNG offering is changing the way buyers contract for LNG globally and will drive competition in the sector for years to come.
PETRONAS developed the first floating LNG facility in the world, the PFLNG Satu.
PETRONAS surpassed conventional practice to build and deliver a versatile floating facility capable of liquefying, storing and offloading liquefied natural gas. PFLNG Satu plays a significant role in PETRONAS’ efforts to unlock gas reserves in Malaysia’s remote and stranded fields previously deemed uneconomical to develop and evacuate.
SLNG’s vision is to be a world-class LNG terminal operator enabling the growth of the energy market and LNG hub in Singapore. The company pursues this vision by striving for the highest operational reliability and excellence, and by providing terminal infrastructure and services to meet market needs and developments.
Shell is making great strides towards deploying FLNG technology with Prelude FLNG, the world’s largest offshore floating facility. Shell is also actively developing new markets and new outlets for gas around the world, including Asia.
H-Energy developed its innovative offshore LNG FSRU solution to cater to the LNG needs of Eastern India due to draft restrictions in West Bengal India that prevent the development of a jetty based regasification solution.
EDF Trading, a wholly-owned subsidiary of EDF SA, provides logistics and risk management services to the EDF Group and third parties. EDF Trading is the exclusive optimzer of the EDF Group’s LNG assets and is active in short-term trading, logistics and supply in both the Atlantic and Pacific markets with over 10 years’ experience.
Since its 2013 inception, Pavilion Energy has quickly built its capabilities across the LNG value chain and continues to focus on developing regional demand. In October 2015, Pavilion Energy signed a 10-year Sales & Purchase Agreement with Gazprom and announced the signing of a Memorandum of Understanding (MOU) with Huadian to supply cargoes of LNG to the company from 2020 onwards as well as with Japan’s JERA for collaboration in joint LNG procurement and investment.
Tangguh LNG, operated by BP on behalf of the Government of Indonesia, is the first fully integrated LNG project in Indonesia. The facility currently has two trains processing gas from Papua Barat offshore that deliver LNG to customers with long-term and flexible supply arrangements. The company is working with BP and the Government of Indonesia to develop a gas supply chain to meet the growing needs of future Asian gas markets and the emerging local gas demands of Indonesia.
Santos is a pioneering venture that produces natural gas from Queensland’s coal seams and converts it into LNG for sale to world markets. The company reached a record first half production of 31.1 mmboe, up 10% over the prior half year, and sales jumped 32% from 30.9 mmboe in the first six months of 2015 to 40.9 mmboe in the first half of 2016.