A new initiative aimed at accelerating the implementation of methane emission monitoring and reduction technologies in the maritime sector is being launched by seven shipping and energy companies.

CSSC Hudong-Zhonghua Shipbuilding is to build a 14,000 cu m LNG refueling vessel for domestic LNG industry player, Anhui Changjiang LNG Company.

As Europe scrambles to replace Russian pipeline gas with LNG imports by ship a lack of receiving terminal infrastructure is set to boost demand for Floating Storage and Regasification Units (FSRUs).

Oslo-based analyst, Rystad Energy, has warned that energy turmoil, caused largely by Russia’s invasion of Ukraine and sanctions that followed, may cause ‘vast demand destruction across industries and consumers’ in Europe.

The ongoing energy disruptions in the wake of the hostilities in the Ukraine have had a dramatic impact on US exports of LNG.

Several leading Greek shipping dynasties have stamped their mark on the LNG business as the sector has transformed from a long-term contractual business to a dynamic shipping market with spot, short- and medium-term contracts.

US-listed LNG stocks clocked double-digit gains on Friday following President Joe Biden’s plan to supply Europe with 15bn cubic metres of LNG this year to help in compensating for reduced liftings of Russian gas.

European dependence on Russian oil and gas, and war-related sanctions that are becoming stricter by the day, are set to tighten energy supplies in many countries.

Greece is moving ahead with a $743.3m plan for two additional LNG terminals for storage and gasification, strengthening its gas supply security.

CSSC Hudong Zhonghua Shipbuilding won a record order for the construction of six 174,000 cu m LNG carriers from Japan’s Mitsui OSK Lines (MOL).