[Myanmar] FSU CNTIC VPower Energy

Post Reply
escveritas
Site Admin
Posts: 3186
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

[Myanmar] FSU CNTIC VPower Energy

Unread post by escveritas »

CNTIC VPower has bought another liquefied natural gas vessel as the joint venture is continuing to develop LNG-to-power projects.

The venture consisting of Hong Kong-listed VPower Group and China National Technical Import & Export Corporation acquired the Karmol LNGT Powership Anatolia from Karmol.

The JV renamed the vessel to CNTIC VPower Energy.

Karmol is a joint business of Japanese shipping company Mitsui O.S.K. Lines and Turkey’s floating power plant company Karpower.

The 1992-built 127,452-cbm carrier was previously named Northwest Seaeagle and served the Australian North West Shelf LNG venture.

Following purchase, Karmol renamed it to LNGT Powership Anatolia.

CNTIC VPower aqquired the vessel from Karmol for an undisclosed price.

VesselsValue data suggests that the ship is worth about $15.4 million.

The vessel is located at Sembcorp Marine’s Sembawang Shipyard in Singapore.

This is is the second ship to join CNTIC VPower’s fleet after the 28,000-cbm LNG carrier CNTIC VPower Global.

This carrier is already delivering cargoes to Myanmar as the partnership recently fired up the first LNG power plant in Thaketa Township of Yangon.

The JV is developing three LNG power plants in Myanmar to support the nationwide electricity demand, with a focus on Yangon region.

Malaysia’s Petronas supplied the first two LNG cargoes from its Bintulu plant as part of a deal with the venture.

The companies are working on further LNG deliveries to the country.
escveritas
Site Admin
Posts: 3186
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: FSU CNTIC VPower Energy

Unread post by escveritas »

Image

SYNERGY GROUP SUCCESSFULLY COMPLETES LNG CARRIER-FSU CONVERSION AND DELIVERY
  • The Singapore-headquartered ship manager is now an established single-source technical solution provider of LNG-to-power services Synergy will manage, maintain and operate the FSU on an ongoing basis
  • Synergy Group, one of the world’s leading ship managers, has successfully converted a 1992-built, 126,000 cubic meters capacity Liquefied Natural Gas (LNG) carrier into a Floating Storage Unit (FSU).
The FSU, which has a projected lifespan of 15 years, was delivered to its owner last week. Singapore-headquartered Synergy will manage, maintain and operate the FSU on an ongoing basis. It will be deployed in Myanmar where it will be manned by a Synergy crew of 25 seafarers.

The FSU will be moored permanently and used to receive and store LNG imports for delivery on demand to an onshore regasification plant which will supply power to local consumers.

“I think this LNG carrier to FSU conversion really drives home that Synergy is not just an asset manager and ship operator,” said Captain Rajesh Unni, CEO and Founder of Synergy Group. “We are a technical thought partner for owners and can deliver integrated solutions which require cross-disciplinary skills.

“We are also now an established single-source technical solution provider of LNG-to-power services. We can take a concept and realise the entire undertaking right through to delivering energy to end consumers even during a global pandemic.”

The project was completed successfully despite workplace restrictions due to Covid-19 safe-distancing rules, the complexity of arranging travel and work permissions for specialists arriving from overseas, and the difficulty of sourcing parts and materials during lockdowns.

“A lot of our top quality owners already employ Synergy to manage their newbuilding orders in Korea, Japan and China and we are currently overseeing more than 30 newbuilding vessel projects,” said Captain Unni. “This successful conversion shows once again that we are fully equipped to take on the most complex conversions.”

Synergy administered the FSU conversion on behalf of the client on a one-stop-shop basis. This included identifying the correct LNG carrier for conversion and selecting a suitable shipyard. Synergy also managed the entire design, engineering, procurement and yard oversight process ahead of the FSU delivery and deployment.

The conversion was performed at Sembcorp Marine’s Admiralty Yard in Singapore.

“I would like to thank Sembcorp Marine and its personnel for their absolute professionalism throughout this project which was completed in the most challenging of environments,” said Captain Unni. “Together we have delivered over 150,000 man hours from May onwards without any Lost Time Incidents (LTI) notwithstanding the ongoing threat of Covid-19 infections.

“Sembcorp Marine demonstrated that it is a resilient and trusted partner able to function efficiently despite the unique conditions.

“I am also humbled by the owner’s confidence in awarding this complex and prestigious contract to Synergy. Like us, they have full confidence in the tremendous track record of our highly experienced newbuilding and conversion team.”

The FSU conversion included more than 100 tons of steel renewal and the cumulative addition of over 1,500 metres of cryogenic pipes. 25 designers were deployed and the project team consisted of 10 managers overseeing a workforce of some 250 personnel each day.

The FSU is designed to offload LNG to the regasification plant at rates of up to 350 cubic metres per hour during peak demand. The flow rate can be adjusted to as little as 150 cubic metres per hour during non-peak periods.

Synergy’s newbuilding department is headed by naval architect Subodh Borse, a specialist in LNG newbuilds and retrofits. He said: “Our experienced newbuilding and conversion team is renowned for providing expedited, one-stop, cost effective solutions to clients in the LNG supply chain.

“We were very happy with the design which includes the addition of four feed pumps in each of the cargo tanks which allows them to hold Boil-off Gas (BOG) for longer durations. The addition of Emergency Release Couplings and Quick Release Hooks ensures vessels depart the terminal quickly in case of an emergency. We increased the tank pressure up to 0.7 bars and the design allows the FSU to simultaneously feed LNG to the regasification plant while also offloading offload LNG to another smaller vessel.

“This was a complex undertaking and one that Synergy has proven we are fully equipped to successfully manage.”

Alvin Gan, Sembcorp Marine Head of Repairs & Upgrades, commented: “Sembcorp Marine is pleased to partner Synergy Group on this milestone FSU conversion project. As the leading LNG ship repair and upgrades solutions provider in the world, we take pride in executing FSU and FSRU conversions on time, safely and meeting our customers’ engineering and quality expectations. We thank Synergy for putting their trust in our expertise and track record.”
escveritas
Site Admin
Posts: 3186
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: FSU CNTIC VPower Energy

Unread post by escveritas »

The vessel named CNTIC VPower Energy of CNTIC VPower Group Holdings Limited (“CNTIC VPower”) safely sailed through Yangon River in the morning of 26 November, and has started supplying liquefied natural gas (“LNG”) to the two power stations owned and operated by CNTIC VPower in Yangon today.

Being the very first LNG floating storage unit (“FSU”) in Myanmar, the vessel is 272 metres in length and with 106,283 gross registered tonnage. It is anchored at our MCV Terminal in Thilawa and will continuously provide stable LNG supply to the power stations.

Mr. Earnest Cheung, Chief Executive Officer of CNTIC VPower said, “LNG-to-power is a dream for many but a reality to the people of Myanmar, on this day we celebrate the arrival of our CNTIC VPower Energy and in front of viewers on national television. This floating storage vessel serves as a strategic asset that provides energy security for millions of households across the country. It has been an incredible journey for all of us, and a collective win for the nation which also brings special meaning during the celebration of the Tazaungdaing festival, “Festival of Lights” this weekend. Our Yangon power plants combined provide a significant contribution to the Myanmar national grid all year round, and is one honour that we are particularly proud of.”

CNTIC VPower is a joint venture of VPower Group International Holdings Limited (“VPower Group”, stock code: 1608.HK) and China National Technical Import and Export Corporation (“CNTIC”) which operates the first and only LNG-to-Power projects of Myanmar.
Post Reply

Return to “Sembcorp Marine”

Who is online

Users browsing this forum: No registered users and 1 guest