World News
Russian Official Calls for Japanese Backing of LNG Plant
A Russian official has urged Japanese gas buyers to back a proposed liquefied natural gas (LNG) plant on the Pacific island of Sakhalin located just north of Japan, IAA Portnews reports.
Ship & Bunker reported last month that Sakhalin Governor Alexander Khoroshavin had already expressed interest in building a second LNG plant on the island after meeting with ExxonMobil, who are currently involved in the Sakhalin-1 project in the area, and Khoroshavin made the call for support at a subsequent meeting with the heads of Japan's Mitsui, Tokyo Gas, and Tokyo Electric.
"The Government of the Russian Federation intends to significantly increase the country's share in world production of LNG. We expect that the Sakhalin region will be able to step up its presence in the gas market of Japan and Asia-Pacific region," said Khoroshavin.
"We hope that our Japanese partners, including Mitsui, Tokyo Gas, and Tokyo Electric will also be interested and support us in this issue."
"When I talk about increasing our presence in the gas market of the Land of the Rising Sun and of the Asia-Pacific region, I mean not only the expansion of the existing LNG plant on Sakhalin Island, but the idea of building yet another LNG plant in the framework of the Sakhalin-1 project."
The new LNG facility could be launched as early as 2018, an official said.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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