1992

Transcription

1 Korea monthly shipbuilding magazine Shipbuilding Offshore Oil & Gas Offshore wind Kormarine Official Magazine 코마린 2015 전시회 공식 매체 / Thermal and Fire Protection for life Darmattech PFP, Inc / Darchem Engineering offers a range of Passive Fire Protection and Radiant Heat Shielding solutions to meet the stringent demands for personnel safety and asset protection on Offshore Oil & Gas platforms and FPSOs. Due to space restrictions and high flow pressures, fire scenarios often call for Jet Fire protection up to 180 minutes for critical flow and process control systems to allow a controlled plant shutdown in the event of fire or explosion. Darmattech PFP, Inc. Anyong-dong Hwasung-si Gyunggi-do S. Korea Tel: 82 (0) / Fax: 82 (0) info@darmattech.com / Darchem Engineering Esterline Corporation Ironmasters Way Stillington Stockton-on-Tees TS21 1LB, United Kingdom Tel: +44(0) / Fax: +44(0) dtpsales@darchem.co.uk / / NYSE symbol: ESL

2 1992

3

4 Measurement made easy Measurement Differential Pressure made easy Flow Elements Differential Pressure Flow Elements ABB has supplied DP flow meters to many of the leading global oil and gas exploration companies. has supplied ABB s DP flow DeepSeaMaster meters to many is a of differential the leading pressure global oil flowmeter, and gas usually explora- ABB ABB has supplied DP flow meters to many of the leading global oil and gas exploration companies. ABB s DeepSeaMaster is a differential pressure flowmeter, usually tion based companies. upon the Venturi ABB s DeepSeaMaster tube element. DeepSeaMaster is differential is pressure used to flowmeter, measure the usually flow based rate in upon the MEG the injection Venturi tube line element. to ensure DeepSeaMaster that the injection is rate used is to in measure the correct the ratio flow to based upon the Venturi tube element. DeepSeaMaster is used to measure the flow rate the flow in the rate MEG of water injection the line oil. to Learn ensure more that about the injection why ABB s rate is industry-leading the correct ratio DP to rate in the MEG injection line to ensure that the injection rate is in the correct ratio to the Flowmeter flow rate is of your water solution in the in oil. subsea Learn industries. more about why ABB s industry-leading DP the flow rate of water in the oil. Learn more about why ABB s industry-leading DP Flowmeter is your solution in subsea industries. Flowmeter is your solution in subsea industries. ABB KOREA ABB Tel KOREA ABB Tel. Fax KOREA Tel. Fax krsales.instrument@kr.abb.com Fax krsales.instrument@kr.abb.com krsales.instrument@kr.abb.com

5 HIGEN MOTOR means Reliability and Quality for Shipbuilding Industry. Certification Table HIGEN is the only in Korea to completely cover ATEX certification for above frame table.

6

7

8 Monthly Korship, Korea s only Offshore & Shipbuilding monthly magazine in English Monthly Korship keeps readers up to date with the latest news on Offshore & Shipbuilding industry and various companies swiftly. Korea, a small country on the planet, is leading the world s Offshore & Shipbuilding industry, powered by its economic growth. This small but impactful Monthly Korship which is published in Korea, the world s largest Offshore & Shipbuilding country, will help keep your pulse on the Offshore & Shipbuilding industry around the globe. TEL : FAX : Offshore & Shipbuilding Magazine

9 Wanted! 크로네와 더불어 변화를 일으키고 새로운 인생을 함께 할 개성있고 자율적인 새 가족을 찾습니다. 크로네한국지사 : , mail@krohne.co.kr, 서울 영등포구 여의도동 43 미원빌딩 508호

10

11 Make fresh water from sea water Enwa Water Maker From sea water to fresh water through reverse osmosis (RO) Scandinavian quality Standard models ranging from 1,5 m 3 /d to 200 m 3 /d Enwa Water Maker 50 m 3 / day Keep your system clean without chemicals For engine cooling water and your HVAC systems EnwaMatic Maritime Filtration to 5µ Fully automatic No scaling No corrosion No bacteria Approval from sales@ottomotor.kr info@enwa.se enwa.com

12

13

14

15

16 국내 연락처 : OK T&T / 김소연 주임 T)

17

18

19

20 Shipbuilding Offshore Oil & Gas Offshore wind Contents 20 Business News 30 Feature Story Natural gas, a major catalyst for the growth of shipbuilding/offshore industries - Global demand for LNG rising by 4.4% Issue 38 ABB Launching world s most powerful underground and subsea power transmission cable system 39 KOGAS opened the bid for large-scale LNG carrier to transport shale gas 40 [Interview] Emerson focuses on custody transfer C6+ application in the natural gas 42 Slump in offshore plant sector jeopardizes the achievement of 3 domestic shipbuilding giants new order targets 44 SHI expands its designing capability through merger with Samsung Engineering 46 Intergraph standing at the forefront of effort to modernize shipbuilding and offshore industries 48 DNV GL ReVolt Next generation short sea shipping 49 MAN Diesel & Turbo launching new MAN 175D 50 (국문)ABB세계최대지중및해저송전케이블시스템선보여 Special Focus 52 Saipem Can Oversee Entire Offshore Projects with Tekla - Tekla Korea Co., Ltd Technology 56 SAFCO Engineering deploys multi-level, integrated fire and gas control system using PlantPAx - Rockwell Automation Application 60 Vacon propels northern leader - Vacon Korea Ltd. Product Review 62 New Emerson Gas Chromatograph Targets Natural Gas Applications - Emerson Process Management 66 (국문)천연가스분야를겨냥한에머슨의새로운가스 크로마토그래프 - 에머슨 프로세스 매니지먼트 70 New Order 75 The Shipbuilding Marketshare 76 Offshore Plant Orders 78 Major Performance Gallery Capsize vessel dominating the bulk carrier market New Product 84 Edge ScanArm HD with Fast Scanning Speed and High-Definition Data Clarity - FARO Technologies, Inc. 85 GPS Discharge Control system - USON MARINE AB 86 Large Flow Capacity Volume Booster - ControlAir, Inc / YTEC Co., Ltd. 87 Introducing the all new MJP Hybrid - Marine Jet Power Holding AB Member List 89 KOSHIPA (Korea Offshore & Shipbuilding Association) 90 KOMEA (Korea Marine Equipment Association) Darmattech PFP, Inc cover1 Rainho cover2 Intergrah korea cover3 ABB cover4 HIGEN MOTOR 1 KORMARINE SAMGONG VOS Co., Ltd. 3 KROHNE KOREA 5 Aerogel Korea Co., Ltd. 6 ENWA WATER TREATMENT 7 Advertisers Index Honeywell Analytics 8 Hyundai Heavy Industries 9 INMEX China SUNGDONG Shipbuilding & Marine Engineering 11 SMM AlfaLaval Korea 13 HWASEUNG R&A 14 Nexans 15 Lloyds Register 17 HITROL CO., LTD 19 HKCONTROMATIC 28 HKCONTROMATIC 29 TRIStube 37 NIPPON PAINT MARINE KOREA 43 SPX Flow Technology Korea 45 NORD-LOCK KOREA CO.,LTD. 5 1 Wilhelmsen Technical Solutions 55 Vacon Korea 59 EMERSON 65 Chokwang Jotun Ltd. 69

21 Over 50 years of global gas leadership In 2014, shipping celebrates over 50 years of commercial LNG carrier operations. Whether you are talking gas carriers, LNG as a marine fuel, or LNG bunkering, our expertise and leadership in gas operations can help you make the best decisions based on the best, independent, technical insight. Future performance depends on today s decisions. Download our latest report on gas technology at Working together for a safer world Lloyd s Register and variants of it are trading names of Lloyd s Register Group Limited, its subsidiaries and affiliates. Copyright Lloyd s Register Group Limited A member of the Lloyd s Register group.

22

23 (주)하이트롤과 함께하는 Oil & Gas Companies Low Pressure Tap Hi Pressure Tap Hi Pressure Tap Low Pressure Tap Fixed Bolts Meter Body Interchangeable Cone Centering Ring Flow Cone Manifold Valve HFV-WM (Wafer type Cone Meter) DP HiCone Meter DP HiCone Meter는 일반적인 차압유량계의 일종이며 차압유량계와 같은 물리적 원리에 따라 유량을 측정합니다. 조임부 역할을 하는 Cone은 Meter body 중앙에 위치하여 유체의 흐름에 따라 유속을 증가시키고 차압을 발생시킵니다. 두 개의 검출 Tap은 High 와 Low pressure를 DP 전송기로 보내 유량을 지시합니다. 70 % ±8 % 전단 3D 후단 1D의 짧은 직관부를 가짐에 따라 플랜트 건설에 최대 70 %까지 원가 를 절감하는 효과를 가집니다. (미국 CEESI에서 API 22.2 TESTING) Cone Meter는 제조공정상의 사소하게 보이는 차이에도 교정하지 않으면 최대 ±8 % 의 오차가 발생할 수 있습니다. 정확도 ±0.5~1 % 수준의 정밀한 유량측 정을 위해서는 반드시 교정을 해야 합니다. (미국 CEESI에서 발표한 내용중) 하이트롤에서 생산되는 Cone Meter는 ISO 국제공인 교정시스템에 의해 교정하며 ±0.5 % 의 정확도를 가집니다. HFV-WM IVCM (Integral Valve Cone Meter) IVCM HFV-WM은 Meter body의 교체 없이 Cone을 교 체하여 유량 범위를 변경할 수 있으며, 과도한 유속 또는 슬러그 뭉치의 충격으로 인한 Cone의 변형에 쉽게 교체 사용할 수 있는 특징을 가지고 있다. 또 한, Wafer형태로 설치가 용이하고 모든 구성품이 정 밀 기계가공되어 측정정확도가 우수하며, 용접부가 없어 압력부의 건전성이 확보 되었다. IVCM은 차압식 유량계의 필연적 구성품인Manifold Valve를 Meter body와 일체형으로 제작하여 공정 시 발생할수 있는 연결부의Leak를 최소화 하고, 설 치시 공사 비용 및 시간을 줄이는 장점을 가진다. ( 특 허 : 제 호 ) (특 허 : 제 호) (주)하이트롤 본사 공장 연구소 경기도 파주시 조리읍 봉일천 5리 번지 TEL : (031) FAX : (031) / hitrol@hitrol.com

24 BUSINESS NEWS Emerson releases new pressure control solution for offshore hydraulic power unit applications Emerson Process Management has released the TESCOM series regulators. The series is engineered to provide accurate and consistent pressure control performance for the subsea wellhead control system, even in the most demanding ultra-deep water installations. The is designed with an integrated bypass valve that transitions from high flow to precision control at a preset pressure. This enables accurate control of highpressure water glycol for offshore hydraulic power unit applications, while decreasing subsea wellhead control system pressurization time by up to one-third. The robust design of this product solves many challenges that deepwater customers face, including slow umbilical fill rates, unreliable and inaccurate regulator performance, increasing failure rates, and high maintenance costs. The precisely controls pressure across large flow variations up to 15,000 psig/1034 bar, enabling it to reduce hydraulic power unit high-pressure components, leak paths and maintenance costs while eliminating complex startup procedures. 에머슨, 해양 HPU 용도 신규 압력 제어 솔 루션 출시 에머슨 프로세스 매니지먼트가 TESCOM 시리즈 레귤레이터를 새롭게 선보였다. 이번에 출시 한 시리즈는 가장 까다로운 초심해 설치 를 포함한 해저 유정 제어 시스템에 대해 정확하고 일관된 압력 제어 성능을 제공한다 는 기본 압력에서 고유량을 정확하게 제어 되도록 전환하는 통합 바이패스 밸브 장착형으로 설계되었는데, 이는 해저 유정 제어 시스템 가압시 간을 최대 1/3까지 감소시킬 수 있다. 또한 해양 HPU(유압 동력 장치)에 사용되는 고압 물 글리콜 (water glycol)의 정확한 제어를 가능하게 한다 는 엄빌리컬 케이블(umbilical cable)의 느 린 충진 비율, 불안정하고 부정확한 레귤레이터 성 능, 고장률 증가, 높은 유지 보수 비용을 포함해 현 장 엔지니어들이 직면한 여러 가지 난제들을 해결 할 수 있다. 또한 높은 유량 변동 전반으로 최대 15,000 psig/1034 bar까지 정확하게 압력을 제어하 기 때문에, HPU의 고압 부품, 누출 경로, 유지 보수 비용의 감소를 가능하게 하는 동시에, 복잡한 가동 시작 절차를 간소화 한다. STX Heavy Industries reached cumulative production milestone of 20 million horsepower in large engines STX Heavy Industries held a ceremony to celebrate its cumulative production milestone of 20 million horsepower in large engines at Changwon No. 1 manufacturing plant on September 4. On the same day, STX Heavy Industries successfully completed trial operation of 6G50ME-B9 type eco-friendly low-speed 14,000hp engine, reaching cumulative production milestone of 20 million horsepower. A large engine usually has an output ranging from 13,000 hp to 99,000 hp. This cumulative production milestone of 20 million horsepower comes in 4 years and 3 months since STX Heavy Industries produced its first engine in September In June 2010, STX Heavy Industries reached cumulative production milestone of 10 million horsepower in the shortest period worldwide. The engine which successfully completed the trial operation will be installed in Denmark-based Norden s 49.4K tanker Trial operation of large marine low-speed engine currently being built by STX Offshore & Shipbuilding (STXOS). 20

25 STX중공업, 대형엔진 생산누계 2000만 마 력 달성 STX중공업은 지난 9월 4일 창원 1공장에서 대형엔 진 생산누계 2000만 마력 달성기념식을 개최했다. 이날 STX중공업은 1만4000마력의 친환경 엔진인 6G50ME-B9 타입 저속엔진 시운전에 성공해 누적 생산 2000만 마력 달성에 성공하는 기염을 통했다. 대형엔진은 통상 1만3000마력에서 9만9000마력까 지의 출력을 나타내는 엔진이다. 이번 누적 생산 2000만 마력 달성은 지난 2004년 9 월 첫 엔진 생산 이후 4년 3개월만에 이룬 기록이다. 앞서 STX중공업은 지난 2010년 6월에는 세계 최단 기록으로 생산누계 1000만 마력을 달성한 바 있다. 한편, 이날 시운전에 성공한 엔진은 STX조선해양에 서 건조중인 덴마크 노든(Norden)사의 49.4K 탱커 선에 탑재될 예정이다. ASD Global Selects KorACE as Agent in Korea ASD Global, the industry leader in knowledge based engineering software solutions for early-stage design through construction planning of projects for the Process, Power and Marine (PPM) industries, has selected KorACE to be its exclusive Agent in the Korean Peninsula. KorACE is headquartered in Seoul, Korea and managed by Se Eun Kim, President and Owner. Se Eun Kim s extensive experience in the PPM industries is expected to drive rapid adoption of ASD Global s solutions in Korea. Kim holds BS and MS Engineering degrees from INHA University in Incheon, Korea, where he is also an Adjunct Professor in Marine Engineering. Se Eun Kim spent several years working for Hyundai Engineering and other Korean companies, before joining the Korean operations of Intergraph Corporation, the world s largest PPM Computer-Aided Design (CAD) company. Se Eun Kim founded KorACE with the goal of becoming a leading supplier of design and engineering products and services in Korea. KorACE sells and supports ASD Global s full product line: OptiPlant, Pipe Router, and Pipe Support Optimizer, enabling organizations to increase their engineering efficiency for pre-feed, FEED, early-stage Detail Design, and Construction Planning of projects. I am very excited to be the exclusive Agent in Korea for ASD s products, and look forward to working with all my customers to help them significantly improve their productivity and their profitability in executing large capital projects, said Se Eun Kim. Sonali Singh, president, ASD Global, responded, We are very pleased to have KorACE representing us with their knowledge of the customer base in Korea, our industry, and the advantages and capabilities of our products. We believe Korea will be an important market for ASD Global, and Mr. Kim and KorACE will be our interface to make that happen. 세계적 엔지니어링 SW업체 ASD글로벌 한 국시장 출사표 엔지니어링 소프트웨어 부문의 세계적 선도업체인 ASD 글로벌(ASD Global)이 한국의 독점에이전시로 KorACE를 선정했다고 지난 9월 5일 발표했다. ASD 글로벌은 프로세스, 전력 및 해양(PPM) 산업 프로젝 트의 시공기획을 통해 초기단계 설계에 필요한 지 식기반의 엔지니어링 소프트웨어 솔루션 분야에서 업계를 선도하고 있다. 현재 서울에 본사를 둔 KorACE는 김세은 사장이 경 영하고 있다. 김 사장은 PPM 산업에서 쌓은 다양한 경력을 바탕으로 ASD 글로벌이 한국시장에서 빠르 게 적응하는 데 일조할 것으로 기대된다. 인하대학 교 공학부의 학사 및 석사 학위를 받은 김세은 사장 은 동 대학의 해양공학과 겸임교수를 맡고 있다. 김 세은 사장은 현대 엔지니어링을 비롯해 한국의 여 러 회사에서 수년 간 근무했으며, 이후 인터그래프 (Intergraph)의 한국영업을 담당한 바 있다. 김 사장은 설계 및 공학 제품 및 서비스 분야에서 한 국의 최대 공급업체가 되겠다는 목표를 갖고 KorACE를 설립했다. KorACE는 OptiPlant, Pipe Router 및 Pipe Support Optimizer와 같은 ASD 글로벌의 전 품목을 판매 및 지원해 사업체가 프로젝트의 예 비-FEED, FEED, 초기 단계 상세 설계 및 시공 계획 의 엔지니어링 효율을 높이는 데 일조하고 있다. 김 사장은 ASD의 독점 에이전시로 선정되어 무척 기쁘다. 모든 고객과 더불어 ASD의 생산성을 향상 시키고 대규모 자본 프로젝트에서 수익성을 높일 수 있게 되기를 기대한다 고 밝혔다. ASD 글로벌의 소날리 싱(Sonali Singh) 사장은 한국 시장의 고객층을 잘 파악하고 있는 KorACE가 ASD 글로벌은 물론 당사의 영업 및 제품군의 장점과 역 량을 대표로 맡아 에이전시 역할을 하게 된 점을 기 쁘게 생각한다. 한국이 ASD 글로벌의 주요시장이 될 것이라 확신하며, 김 사장을 비롯해 KorACE가 이 같은 목표를 달성할 수 있도록 ASD글로벌의 중 계인 역할을 해 줄 것을 확신한다 고 밝혔다. 21

26 BUSINESS NEWS Siemens supplies SIMATIC S to Samgong Corporation Siemens Industry Automation Division supplies SIMATIC S to Samgong Corporation which has established a leading position in marine equipment sector over the last 4 decades. Samgong Corporation primarily produces oil purifier called SAMGONG- MITSUBISHI SELFJECTOR used to separate and remove fine impurity particles such as moist, combustion products, metal powder, and sludge contained in oil. Samgong Corporation s oil purifier for ship, offshore and onshore plant application are supplied to domestic and overseas shipyards and heavy industry, satisfying customers requirements for high quality and reliability. Conventional oil purifiers which apply microprocessor controller used mechanical timer and counter, requiring manual setting, and involved the time-consuming process of entering different values depending on the type. Furthermore, programs were difficult to Oil purifier fitted with SIMATIC S be modified by any person other than developers due to the characteristics of microprocessor, adding inconvenience to maintenance. However, SIMATIC S and TIA Portal which were applied to the control system resolved problems of existing control system. Moreover, diagnostic capability of TIA Portal allows the oil purifier to be quickly checked to cope with unexpected problems. Even in case that the controller needs to be updated, the firmware update can be achieved easily using the micro card without need for replacing the product. Although the system authentication procedure in offshore sector is a demanding and complex process, the introduction of SIMATIC S certified by major 5 classification societies such as BV, ABS, and Korean Register of Shipping (KR) eliminates the concern about certification. 지멘스, 삼공사에 SIMATIC S 공급 지멘스 산업 자동화 사업본부는 40년 역사를 가진 조선기자재 선두업체인 삼공사에 SIMATIC S7-1200을 공급한다. 삼공사는 SAMGONG-MITSUBISHI SELFJECTOR라는 오일 청정기(Oil Purifier)를 주로 생산하고 있으며, 오일 청정기는 오일 속에 포함된 수분, 연소, 생성물, 금속 분말 및 슬러지 등의 미세 한 불순물 입자들을 분리, 제거하는데 주로 사용된 다. 삼공사의 오일 청정기는 고객의 요구 사항을 충 족시키는 신뢰성 높은 제품 품질을 바탕으로 선박 뿐만 아니라 해상 및 육상 플랜트용으로 국내외 조 선소 및 중공업에 납품된다. 마이크로 프로세서 컨트롤러를 적용한 기존 오일 청 정기의 경우 기계식 타이머와 카운터 사용으로 인해 값을 수동으로 세팅해야 했으며, 각 타입에 따라 다 른 값을 넣기 위해 많은 시간이 필요했다. 또한 마이 크로 프로세서의 특성상 개발자 외에는 프로그램을 수정하기가 어려워 유지 보수에 불편함이 있었다. 하지만 SIMATIC S7-1200과 TIA Portal를 제어 시스템 에 적용함으로써 기존 제어 방식에서의 문제점을 모 두 해결할 수 있다. 뿐만 아니라, TIA Portal의 진단 기 능은 오일 청정기의 돌발적인 문제 발생에 대해 신속 한 점검과 대응이 가능하다. 물론, 컨트롤러의 업데이 트가 필요한 경우에도 제품을 교체하지 않고 마이크 로 카드로 간단하게 펌웨어 업데이트가 가능하다. 그리고 해상 분야에서의 시스템 인증 절차는 까다 롭고 복잡한 과정이지만, BV, ABS 등의 5대 선급과 KR 선급 인증까지 갖추고 있는 SIMATIC S 의 도입으로 선급 획득에 대한 고민을 더 이상 할 필요가 없어졌다. Ministry of Oceans and Fisheries (MOF) leads the state-of-art fisher resource research vessel project Ministry of Oceans and Fisheries (MOF) announced that it would move ahead with a project to build 1,500-ton fishery resource research vessel as part of effort to strengthen the nation s fishery resource research. Aiming to deploy the vessel for full-fledged operations by 2019, a funding worth KRW 50 billion will be injected into this project from government coffers for construction of the resource research vessel specializing in the investigation of fishery resources in intermediate waters around Korea, China, and Japan in an endeavor to ensure future food security. This large-scale state-of-art fishery resource research vessel will help lay foundation for scientific resource management policy to cope with full-scale competition over fishery resources among Korea, China, and Japan in the period ahead and provide scientific data necessary for Korea to gain the upper hand in fishery negotiation with China and Japan and be better positioned in securing fishery resources. An official from MOF said, This large-scale fishery resource research vessel will help lay foundation for systematic and scientific 22

27 fishery resource research vital for ensuring future fishery food reserve and stable longterm fishery product supply. Along with the fishery resource research vessel project, we will push forward the construction of fishery resource research center and enactment of law related to fishery resource research in our attempt to secure the fish map in the waters around Korea. 해양수산부, 첨단 수산자원조사선 건조 추진 해양수산부는 수산자원조사 인프라구축의 일환으 로 1,500톤급 수산자원조사선의 건조 사업을 추진 한다고 밝혔다. 미래식량 확보를 위해 한 중 일 간 중간수역 수산 자원조사를 전담하는 수산자원조사선 건조 사업에 는 국비 500억 원이 투입될 예정이며, 2019년 본격 적인 운용을 목표로 건조 사업에 착수하게 된다. 이번에 새로 건조되는 대형 첨단 수산자원조사선은 향후 한 중 일 간 본격적인 수산자원 확보경쟁에 대비할 수 있는 과학적인 자원관리정책의 토대를 마련할 뿐만 아니라, 한 중/한 일 간 어업협상에 있어서 우위를 확보할 수 있는 과학적인 근거를 제 시할 수 있게 되어 보다 유리한 입장에서 수산자원 을 확보할 수 있다. 해양수산부 관계자는 대형 수산자원조사선이 건조 되면 미래 예비수산식량 확보를 위한 체계적 과학 적 수산자원조사기반이 구축되어 장기적인 수산물 공급을 위한 토대가 마련될 것 이라고 설명하면서, 수산자원조사선 건조와 함께 수산자원조사센터 건 립, 수산자원조사법 제정 등을 함께 실시함으로써 국내 주변해역의 물고기 지도를 확보하도록 노력하 겠다 고 밝혔다. Hyundai Mipo Dockyard Delivers 4th PSV Hyundai Mipo Dockyard (HMD), the market leader in the medium-sized vessels, announced recently that it delivered the 4th high value platform supply vessel (PSV) for BP Shipping at its main shipyard in Ulsan, South Korea. HMD won four PSVs from BP Shipping in March 2012 and already delivered three same type vessels from January to July this year. The PSV, named NS Frayja and measuring 97 m in length, 20 m in width and 8.5 m in depth, is equipped with a variety of up-todate technologies including oil recovery operation and dynamic positioning system. The vessel is now on its way to join its fleet in North Sea fields. Through the successful construction and deliveries of these four vessels, HMD demonstrated its cutting edge shipbuilding capability for the high demand offshore vessels. For that, this vessel is equipped with various state-of-art equipments such as the position detection system and dynamic positioning system capable of automatic control of position via satellite to enable operations at sea even under inclement weather conditions. Moreover, this vessel is conformant to more rigorous standards for vibration and noise and furnished with fire fighting system to cope with disasters such as oil spill or fire on onshore platform. An official from BP EXPLORATION - which chartered the NS ELIDA upon its delivery in June and has been operating the vessel HMD s 4th PSV, NS Frayja in the North Sea - is said to have mentioned in his to BP SHIPPING, the client, This platform supply vessel (PSV) with very excellent performance has increased the efficiency of operations, expressing huge satisfaction with the excellent technology of HMD. 현대미포조선, PSV 4척 성공적으로 인도 현대미포조선은 지난 9월 15일 울산 본사에서 해양 작업지원선(Platform Supply Vessel)인 NS 프레이야 (FRAYJA)호를 선주사인 BP사에 인도했다. 현대미포조선은 지난 2012년 3월 BP사로부터 수 주한 4,700톤급 해양작업지원선 4척을 모두 인도, 국내에서는 첫 시도된 해양작업지원선 건조 프로젝 트를 성공리에 마무리하게 됐다. 이들 해양작업지원선은 길이 96.6m, 너비 20m, 높 이 8.2m의 제원을 갖췄으며, BP가 북해에서 진행 중인 원유 및 천연가스 시추사업에 투입돼 해양플 랫폼에 작업인력을 포함한 각종 기자재, 식료품, 연 료 등의 화물을 보급하고, 시추 과정에서 발생하는 폐기물을 육지로 수송하는 역할을 맡게 된다. 이를 위해 이 선박에는 악천후 속에서도 해상작업 이 가능하도록 위치를 위성으로 자동 제어할 수 있 는 다이나믹 포지셔닝 시스템(Dynamic Positioning System), 위치탐지시스템 등 각종 첨단 장비가 장착 돼 있다. 또한 강화된 진동 및 소음 기준이 적용됐 을 뿐만 아니라 해양 플랫폼에서 발생할 수 있는 화 재, 원유 유출 등의 재해 상황에 대비한 방재 설비 도 완비돼 있다. 한편 지난 6월 말 인도된 1차선인 NS 엘리다 (ELIDA)호를 용선 받아 북해에서 운영 중인 BP EXPLORATION 관계자는 발주처인 BP SHIPPING에 보낸 e메일을 통해 매우 뛰어난 성능의 해양작업지 원선을 인도받아 한층 효율적인 작업이 가능해졌다 며 현대미포조선의 높은 기술력에 큰 만족을 나타 낸 것으로 알려졌다. 23

28 BUSINESS NEWS HHI developed industry s first automatic painting equipment for bottom part of ship block Hyundai Heavy Industries (HHI) announced on September 11 that it recently developed and deployed automatic equipment for painting the bottom part of ship block at its production site. Thus, HHI has become the first shipyard worldwide that automated the painting on the bottom part of ship block. Previously, operators had to stand in an uncomfortable position and reach over their heads to paint the bottom part of ship block which made it difficult to achieve improvement in painting efficiency and quality. Operating automatically based on predetermined program, this equipment sprays paint through 4 spraying devices. Particularly, this equipment ensures uniform thickness of paint film and excellent painting quality compared to manual painting, reducing the consumption of pain by about 20%. HHI deployed 11 automatic painting equipments at its production site after completing the function validation test and anticipates cost-savings worth KRW 70 million per unit yearly. In addition, HHI completed domestic patent application process for these automatic painting equipments. An official from HHI said, This automatic painting equipment is expected to increase ship quality and cost-savings, giving us a competitive edge in winning new orders amid fierce competition in shipbuilding industry. 현대중공업, 업계 최초로 선박 블록 하부의 자동 도장장비 개발 현대중공업은 최근 선박 블록의 하부를 자동으로 도장할 수 있는 도장장비를 개발해 생산현장에 적 용했다고 지난 9월 11일 밝혔다. 선박 블록 하부의 도장작업을 자동화한 것은 전 세계 조선업계에서 현대중공업이 처음이다. 그 동안 선박 블록의 하부는 사람이 위를 쳐다보는 불편한 자세로 작업을 할 수 밖에 없어 작업 효율과 품질을 향상시키는데 어려움을 겪어왔다. 이 장비는 설정된 프로그램에 따라 자동으로 이동하며 4개의 분사장치를 통해 도료를 분사한다. 수작업 대비 도 막두께가 균일해 도장품질이 우수하고, 도료의 사용 량 역시 20% 가량 줄일 수 있다. 현대중공업은 성능 검증시험을 거쳐 현재 11대의 자동 도장장비를 현장에 적용했으며, 1대당 연간 7000만원의 비용절감 효과를 기대하고 있다. 현대 중공업은 이 도장장비에 대해 국내 특허출원도 완 료했다. 현대중공업 관계자는 조선업계의 경쟁이 갈수록 치 열해지고 있는 상황에서 자동 도장장비는 선박의 품질향상과 원가 절감을 통한 수주 경쟁력을 높이 는데 기여할 것으로 기대된다 고 말했다. Korea s first drillship Doosung marks its 30th anniversary Daewoo Shipbuilding & Marine Engineering (DSME) was awarded an appreciation plaque from Korea National Oil Corporation in recognition for the successful drilling activities of its Doosung, the nation s first semi-submersible drilling rig, over the last 3 decades. Doosung, Korea s first and only drillship, was delivered to Korea National Oil Corporation in May 1984, facilitating stable oil supply. In particular, Doosung was built to help spur nation s economic growth and energy security which took on an added importance in the wake of the two consecutive oil crises in late 1970s. Doosung has stood out prominently in Korea s energy history, playing a pivotal role in making Korea become the 95th oil producing country in July 1998 with successful exploration and drilling (the production commenced in 2004) of Korea National Oil Corporation President Seo Moongyu(third from the left) is handing the appreciation plaque over to DSME President Goh Jae-ho(fourth from the left) at DSME s Geoje shipyard on August

29 Donghae-1 gas field, the nation s first of its kind. Doosung was ranked the third in Shell s evaluation of drillship safety and operation in 2013 and is the undisputed best drillship. Particularly, Doosung was even called Lucky Rig for high probability of striking the crude oil/gas. Doosung has drilled 117 bore-holes in 9 countries over the last 30 years. Doosung successfully created KRW billion in cumulative sales and KRW billion in cumulative profit until last year, although its construction cost was as high as KRW 54.2 billion. Particularly, Doosung achieved KRW 91.2 billion in sales, KRW 56.8 billion in profit and a remarkable profit ratio of 62% in 2013 despite unfavorable market conditions. Seo Moon-gyu, President of Korea National Oil Corporation, said after looking around the shipyard, I found out why DSME and Korea have become unparalleled leader in offshore plant construction sector. I hope that DSME would provide continued support to help take Korea to the next advanced level in the resource development market, going beyond the success of Doosung. 한국 최초 시추선 두성호 건조 30주년 맞다 대우조선해양은 자사가 건조한 국내 최초의 반잠수 식 시추선(Semi- Submersible Drilling Rig) 두성호가 30년 동안 성공적인 시추 활동을 벌인 것에 대한 감 사패를 한국석유공사로부터 전달받았다. 대우조선해양이 1984년 5월 한국석유공사 측에 인 도한 한국 최초이자 유일의 시추선인 두성호는 안 정적인 석유 공급을 위해 건조됐다. 1970년대 말 발생한 두 차례의 석유파동은 에너지 안보의 중요 성을 부각시키는 계기가 됐고, 직접 만든 시추설비 를 통해 국가경제 발전 및 에너지 안보 확보에 기여 하기 위해 건조된 설비가 두성호다. 두성호는 한국 에너지 역사에 있어서도 의미가 남 다른 설비다. 1998년 7월 한국 최초의 가스전인 동 해-1 가스전의 탐사시추에 성공해(2004년 생산 개 시) 우리나라를 95번째 산유국 대열에 진입시킨 것 또한 두성호였다. 2013년 셸(Shell)사가 평가한 시추선 안전 및 작업평가 부문에서 3위를 차지한 두성호는 자타공인 최고의 시 추선이며, 시추 구멍을 뚫었을 때 원유/가스를 발견할 확률이 높아 행운의 시추선(lucky rig)로 불리기도 했다. 두성호는 지난 30년간 9개국 117공을 시추했다. 건 조에 들어간 비용은 542억원. 그러나 지난해까지 누 적 기준 매출 6929억원, 이익 2031억원을 창출하는 데 성공했다. 특히 2013년에는 어려운 시장환경에 도 매출 912억원, 이익 568억원을 달성해, 62% 이 익률이라는 경이적인 이익률을 달성하기도 했다. 한국석유공사 서문규 사장은 조선소를 둘러본 뒤 대 우조선해양과 대한민국이 해양플랜트 건조 분야에 서 세계 최고인 이유를 체험할 수 있었다 며, 두성 호에서 멈추지 말고 자원개발 시장에서 한국이 한 단계 더 올라설 수 있도록 대우조선해양의 지속적 인 지원을 부탁한다 고 말했다. Rolls-Royce completes factory acceptance test on Korean Navy's first MT30 gas turbine Rolls-Royce has reached a major milestone in the Republic of Korea Navy s FFX frigate programme, with the successful completion of acceptance tests for the MT30 gas turbine. The MT30, which will power the FFX Batch II frigates, is the world's most power-dense marine gas turbine, meaning it packs in the maximum power into the smallest available space on board the ship. The FFX Batch II programme is for eight ships, the first of which will be built by Daewoo Shipbuilding and Marine Engineering (DSME). With testing complete, the MT30 engine will be shipped to Korea, where Hyundai Heavy Industries (HHI) will integrate it into the steel enclosure which also houses the air inlets, exhausts and ancillary equipment, prior to installation in the ship. The factory acceptance test, which has to be completed before the gas turbine can be delivered, was carried out at the Rolls- Royce Test Facility in Bristol. It was put through a week of rigorous performance tests, witnessed by representatives from DSME, HHI and the Korea Institute of Machinery & Materials (KIMM). "The MT30 is becoming the gas turbine of choice for many of the world s major naval programmes, with its inherent reliability and power density driving its selection. The FFX II programme is significant in that it will be the first application for the MT30 outside of the UK and US markets, and also the first ship to use a single MT30, alongside diesels. said Don Roussinos, Rolls-Royce, The Rolls-Royce MT30 gas turbine will power the UK's next generation aircraft carriers and the US navy's Littoral combat ship President Naval. We were delighted to welcome the team from Korea during the acceptance tests, and look forward to working with them in the future as we work towards delivery of this highly advanced ship to the Navy. 25

30 BUSINESS NEWS DNV GL to present Wärtsilä with AIP Certificate for its new LNGPac system The new Wärtsilä LNGPac, the upgraded version of the company s successful LNG fuel handling system, has been granted an AIP (Approval in Principle) Certificate from the classification society DNV GL. The certificate will be presented at the Wärtsilä stand in Hall A4, Booth 305 at the SMM conference and exhibition in Hamburg, 9 September. The AIP Certificate covers Wärtsilä s innovative improvements to the original LNGPac. The new solution has removed the heating media skid and its pumps, and includes an improvement to the Wärtsilä Cold Recovery solution. The certificate is based on technical material and safety analyses, and includes documentation concerning normal operation of the system and a presentation of risk scenarios. In effect it means that the system is judged to be safe and reliable and that it will be approved by classes in actual projects. This is an important step in making this new feature of the Wärtsilä LNGPac available to the marine market, and represents an expected verification of the technical aspects that have gone into the development of this system, said Jaakko Eskola, Senior Executive Vice President & President, Ship Power, Wärtsilä Corporation. The presentation of this approval in principle marks another chapter in a longstanding and successful cooperation between Wärtsilä and DNV GL. The development of the first LNGPac and its installation onboard the Bit Viking, the first LNG conversion of a vessel in service, were milestones in the uptake of LNG as a ship fuel, and this upgraded LNGPac is another significant step forward, said Dr Gerd- Michael Würsig, DNV GL Business Director for LNG fuelled ships. The heating media skid, a complete circuit of heat exchangers, pumps and piping, was earlier used to evaporate LNG for pressurising the storage tank and to provide the engine with the correct gas temperature. In looking beyond the fuel gas system, Wärtsilä has demonstrated its ability to integrate multiple interfaces within the LNGPac. Instead of the heating media skid, the new LNGPac system directly utilises the engine s cooling water, which results in fewer interfaces and less installation work for the shipyard. By eliminating electrical consumers, Wärtsilä enables the vessel to become even more environmentally friendly. ABS Selected to Class the World s First Very Large Ethane Carrier ABS has been chosen to class the world s first contracted series of very large ethane carriers (VLECs). The class contract for the ships, which will be built in Korea by Samsung Heavy Industries (SHI) for an Asian shipowner, represents another gas ship milestone for ABS. We are delighted to have received the class contract for the world s first large ethane carriers, said ABS Vice President of Global Gas Solutions Patrick Janssens. As a result of the shale gas boom in the US, ethane is developing as an exciting new market with great potential, requiring the development of new ship types. This award is an industry testament to the diversity of ABS technical knowledge and our commitment to remain at the forefront of classification for gas carriers. The contract is for six 87,000 m 3 VLECs and available options. The ships will be built at SHI s main shipyard in Geoje, Korea. ABS, which currently has the largest share of the global orderbook for LNG vessels being built to its class, has built a large team of qualified gas surveyors at shipyards across Korea. ABS is a pioneer in the safe transport and handling of gas, classing the world s first LNG carrier and responding to the evolving technology demands of the largest and most modern units currently in service. ABS has extensive technical experience with the full scope of gas-related assets, ranging from LNG bunker barges to FLNG units and was recently awarded the classification of the first compressed natural gas (CNG) carriers. In May, ABS announced its first classification contract for a floating LNG facility from PETRONAS, Malaysia s national oil company. The VLEC award marks one year since ABS unveiled its Global Gas Solutions team, a multidisciplinary group of gas specialists formed to respond to the rapidly escalating number of gas-related projects, including LNG and LPG transportation, and the growing use of LNG and LPG as fuel for the commercial fleet. 26

31 SHI developed the core equipment of LNG-FSRU jointly with a domestic equipment manufacturer Samsung Heavy Industries (SHI) announced on September 23 that it developed the regasification vaporizer of LNG-FSRU jointly with a domestic equipment manufacturer. Previously, the nation had a heavy reliance on imported re-gasification vaporizer. LNG-FSRU is a special offshore facility that can gasify LNG into natural gas to be supplied directly to the land-based facilities. The nation has been dependent on imported re-gasification vaporizer essential for converting the LNG into natural gas. SHI has teamed up with Sewon Cellontech, a domestic equipment manufacturer, to develop the re-gasification vaporizer since Specifically, SHI undertook system technology development, while the equipment manufacturer carried out prototype development in tandem with the supply of product. SHI completed prototype production in May 2014 and successfully conducted performance test of prototype in the presence of the invited major clients related to the LNG-FSRU sector in July. The manufacturing cost of this re-gasification vaporizer is 20-30% lower compared to that of imported equipment. Additionally, this re-gasification vaporizer resolved the problem of noise generated from existing equipment and drastically improved the design and size. As this re-gasification vaporizer will be produced domestically, there are advantages in terms of equipment transportation, delivery date, and quality control. Having proved the performance of prototype in SHI successfully conducted performance test of LNG- FSRU re-gasification vaporizer prototype in the presence of the invited major clients related to the LNG-FSRU sector in July. the presence of major clients, SHI plans to install this indigenous re-gasification vaporizer in LNG-FSRU in the period ahead. Meanwhile, this technology can also find applications in onshore chemical engineering plant sector, raising the expectation for synergic effect from the merger with Samsung Engineering. This re-gasification vaporizer can be applied to onshore plants of which operations are restricted due to the land availability constraints or environmental impact and lowtemperature vaporizer that undergoes production process similar to that of LNG- FSRU, thus further sharpening the competitiveness. An official from SHI said, With the development of re-gasification vaporizer, we anticipate stable supply of equipment and will be better positioned to secure price competitiveness. We will continue to find domestic equipments that can substitute imported ones and redouble efforts for joint development of technologies. 삼성중공업, 국내 기자재업체와 LNG- FSRU 핵심장비 공동개발 삼성중공업이 그 동안 수입에 의존해 오던 LNG- FSRU의 재기화기(Re-gasification vaporizer)를 국내 기자재업체와 공동으로 개발하는데 성공했다고 지 난 9월 23일 밝혔다. LNG-FSRU는 해상에서 LNG를 천연가스로 기화해 육상의 수요처에 직접 공급할 수 있는 특수 선박이 다. LNG-FSRU에 장착하는 재기화기는 LNG를 천 연가스로 변환시켜주는 핵심장치로 지금까지는 수 입에 의존해 왔다. 삼성중공업은 지난 2012년부터 국내 기자재업체 인 세원셀론텍과 공동으로 LNG-FSRU 재기화기를 개발해 왔다. 삼성중공업이 시스템 기술개발과 설 계를 맡고, 기자재업체가 시제품 제작과 향후 제품 공급을 담당하는 식이다. 삼성중공업은 2014년 5 월 시제품 제작을 완료했으며, 지난 7월에는 LNG- FSRU 분야 주요 선주사 관계자들을 초청한 가운데 시제품 성능 테스트도 마쳤다. 이번에 공동 개발에 성공한 재기화기는 기존 수입 산 장비보다 제작비가 20~30% 저렴하다. 또한 기 존 장비에서 발생하던 소음 문제도 해결했으며, 디 자인과 장비의 크기도 개선했다. 국내에서 직접 생 산하기 때문에 장비 운송과 납기일 준수, 품질관리 측면에서도 유리하다. 삼성중공업은 주요 선주사 앞에서 시제품의 성능을 입증한 만큼 앞으로 수주 하는 LNG-FSRU에 국산 장비를 적용해 나갈 계획 이다. 한편 이 기술은 육상 화공플랜트 분야에도 적용할 수 있어, 삼성엔지니어링과의 합병에 따른 시너지 효과도 기대된다. 이번에 개발한 재기화기는 부지 제약이나 환경 문제 등으로 기존 기화기 사용이 제 한되는 특수한 조건의 육상플랜트, LNG-FSRU와 공정 조건이 유사한 저온 기화기 등에 적용할 수 있어, 경쟁력을 더욱 향상시킬 수 있을 것으로 기대 되고 있다. 삼성중공업 관계자는 재기화기 자체 개발을 통해 안정적인 장비 공급이 가능해 졌으며, 가격 경쟁력 도 확보할 수 있게 됐다 면서 수입 장치를 대체할 수 있는 국내 기자재 발굴과 공동 기술개발에 더욱 힘쓰겠다고 말했다. 27

32 (HK C서울사무소) 서울사무소 : 서울시 구로구 구로중앙로 229 월드프라자 301호 공장 : 경기도 안산시 단원구 별망로 155 T EL : 02) F A X : sales@kwvalve.co.kr, kwvalve@hanmail.net URL :

33 (밸브자동화사업부) 서울시 구로구 구로중앙로 229 월드프라자 302호 T EL : 02) F A X : kwvalve@hanmail.net, sales@kwvalve.co.kr URL :

34 Feature Story Natural gas, a major catalyst for the growth of shipbuilding/ offshore industries - Global demand for LNG rising by 4.4% 30

35 The global LNG market has been in tight balance of supply and demand amid the surge in the demand for LNG, fuelled by the strong demand in Asian countries, over the last few years. According to Outlook of international LNG market in 2014 published by Korea Gas Corporation, global LNG demand increased by 4.4% or 251 million tons year-on-year, driven by the strong demand in Asian countries such as China, India, Thailand, Malaysia, and Singapore. This brisk demand for LNG is expected to have a positive effect on the growth of shipbuilding industry particularly in the fields of offshore (plant) facilities used to develop and produce LNG and LNG carriers. The global newbuilding sector is plagued by sharp decline in new orders in the first half of this year. New orders have decreased for all vessels, except some types of vessels, despite the diminishing global cargo traffic. Shipbuilding industry pundits indicate that the success of the industry in overcoming current crisis hinges on the advancement of LNG industry such as the shale gas that has come into limelight for a number of years, including the LNG projects being carried out worldwide. For now, the prevailing opinion in shipbuilding industry is that the industry is still unlikely to break the impasse of global order drought despite recent new order placement in Cameron, Algeria, India, and the United States for the vessels transporting the LNG. Domestic and overseas natural gas market witnessed the shale gas boom last year. Shale gas boom which began in the United States in late 2000s has brought sea change to the global energy market despite various technical environment and problems. The emergence of abundant and inexpensive natural gas has kindled the hope for stronger world economy amid the sustained high oil prices hovering above USD 100 per barrel although the financial crisis in the United State and Europe aggravated the recession of world economy. The global LNG market is expected to take on a new aspect, depending on the reactivation of nuclear power plants in Japan, stronger demand for LNG in China, U.S. LNG export situation, etc. USD 1.04 hike in U.S. natural gas price The global LNG trade volume decreased 0.3% year-on-year to 2.37 million tons in 2013 as the supply and demand is kept in tight balance and global LNG trade volume in 2012 fell for the first time over the last 3 decades. This figure was still below the all-time high trade volume recorded in

36 Feature Story Recently, Asian-Pacific region is leading the international LNG market amid the surge of demand for LNG in emerging markets such as China, India, Thailand, and Singapore, etc., and the suspension of nuclear power plant operations in Japan. Meanwhile, Europe has seen overall reduction in natural gas consumption in the aftermath of economic downturn caused by the financial crisis since Furthermore, Europe s LNG imports have decreased by more than 10 million tons year-on-year for two consecutive years as the trade volumes are actively shifted to other regions that sustain high prices. LNG imports in Americas have plummeted amid the soaring production of shale gas in North America while the imports in central and Latin America have increased in the midst of the decline in domestic gas production and seasonal demand. In the meantime, the U.S. Energy Information Administration (EIA) projects the U.S. natural gas price - Henry Hub spot to be USD 4.77 in 2014, an increase by USD 1.04 (per mmbtu, British Thermal Unit) - compared to the previous year. In addition, EIA forecast that the U.S. natural gas consumption would increase by 1.04 billion cf/d (1.46%) year-onyear to billion cf/d this year, spurred by the increase in household, commercial and industrial demand. The LNG supply capacity expansion has been stagnant between 2011 and 2013 since the large-scale LNG projects started operations in the Middle East including Qatar in the period spanning from 2009 to There were only 3 new LNG supply projects put into operations between 2012 and 2013, such as the Pluto LNG in Australia, Skikda Rebuild in Algeria, and Angola ALNG. Another reason is the disruption to Asia Europe Americas Figure 1. Trend of global LNG imports production in existing plants due to the delay in operation of new plants, technical defect, etc. As a result, the Middle East which has supplied more than 40% of global LNG export volumes since 2011 has been leading the LNG exports. China s LNG consumption soaring by 27% As the operations of nuclear power plants were suspended following the nuclear-reactor meltdown in Fukushima, Japan, in 2011, there has been a surge in the demand for LNG for alternative power generation. Furthermore, the central and Latin America has seen an increase in LNG demand, driven by seasonal demand. LNG imports are concentrated in Asia MTPA Oil Price ($/Barrel) Category 2012 Annual 1/4 2/4 3/4 4/4 1/4 2/4 Peak WTI (6.20.) Natural Gas ($/1 million BTU) Bituminous Coal (for electricity) ($/ton) Dubai Uranium ($/lb) (6.23.) (2.19.) (1.3.) (1.17.) Annual trough (1.9.) (4.3.) (1.9.) (6.27.) (5.19.) Table 1. Trends of major energy prices (Source: International finance center, KoreaPDS) 32

37 and central/latin America which have witnessed skyrocketing demand for LNG due to weaker demand for gas in Europe reeling from financial crisis and diminishing LNG imports in North America in the wake of shale gas production. According to the related industry, LNG imports of Asia reached million tons accounting for 75% of total global LNG imports, out of which the import volumes of Japan, China, and Korea exceeded 60% of aggregate volumes. Although there was no significant change in LNG imports of Japan, the LNG imports of China increased by as much as 27% compared to According to the International Energy Agency (IEA), the LNG demand in China would rise to 315 billion m 3 by 2019, a 90% increase from current level. By contrast, the LNG demand in Europe fell 29% from Japan has suspended operations of its nuclear reactors - which had produced almost 1/3 of the country's electricity - one after another for periodic inspection since the Fukushima nuclear disaster, and has discontinued the operations of all nuclear power plants since September last year. As a result, the LNG imports of Japan increased slightly (+0.7%) year-on-year to the all-time high 88 million tons in China and India which began to import LNG from mid 2000s recorded 18.6 million tons and 12.9 million tons, MTPA LNG Imports Pipeline Imports Domestic Production Share of LNG Imports Figure 2. Outlook of China s natural gas supply 25% 20% 15% 10% 5% 0 respectively, in imports last year, thus emerging as the world s third and fourth largest LNG importers. Additionally, domestic LNG import volume has also risen sharply, fuelled by the surge in the demand for gas for power generation. Meanwhile, the U.S. LNG imports fell to 1.8 million tons in 2013 from 16 million tons in This steep reduction in U.S. LNG imports is attributed to the sharp growth of shale gas production. The LNG net imports of Europe which faces economic downturn have been reduced by more than 25% year-on-year for two consecutive years. European countries that are currently experiencing financial crisis, such as Spain, France, Portugal, etc., have seen their LNG import volumes fall to half the level recorded few years ago. The U.K. LNG import volume increased to 19 million tons in 2011, but plunged to 6.8 million tons in 2013 amid the active re-exports to other regions. In the meantime, the global LNG market has recently seen drastic changes in trade form. In the non long-term market corresponding to spot-short-term trading market, the trades that excludes those under long-term contracts spanning more than 5 years reached the record-high 77 million tons in 2013, accounting for 33% of entire LNG trade volumes, up from below 17% in Most spot-short-term trade volumes were imported into Asia and Central/Latin America, while most supply was made in Middle East including Qatar and African countries such as Nigeria. In addition, LNG re-exports for arbitrage trading and reduction of surplus volume redundant under the long-term contracts have shown robust growth. Europe is exporting the LNG to other regions that sustain high LNG prices amid the increased availability of cheap coal and renewable energy sources in power generation sector and the weak demand due to economic downturn. 33

38 Feature Story Current LNG market conditions Israel, Singapore, and Malaysia joined the list of 28 countries importing the LNG worldwide. More countries are expected to import LNG in the period ahead. As a result, the global LNG market also needs to keep the supply and demand in balance. Recently, global LNG production and export market has stagnated. Although Angola started to export LNG in 2013, the actual number of countries exporting the LNG has decreased to 17 since the LNG exports from Libya and Alaska were interrupted. LNG production has been normalized in Qatar, Yemen, Australia, Russia, Peru, etc., since last year. However, major disruption to production has resulted from the delay in the supply of production facilities to existing gas fields, including new gas fields. According to the Outlook of international LNG market in 2014 published by Korea Gas Corporation, the Skikda GL1K replacement train (4.5 million tons per year) in Algeria which began commissioning in March 2013 officially started commercial operations as late as January this year while the Angola LNG plant (5.2 million tons per year) which was put into operation in June is expected to achieve the normalized production level only by 2015 due to the persistent technical issue that has remained unresolved since the 5-cargo production last year. Moreover, Snohvit in Norway has become increasingly incapable of smooth operations due to technical defects of plant and political unrest engulfing Nigeria and Yemen. Above all, the LNG producing countries such as Indonesia, Algeria, and Egypt, etc., have seen their LNG exports diminishing in the midst of the depletion of adjacent gas fields, delay in new gas field development, increase in domestic demand for gas, etc. United States and Russia poised to expand LNG exports The U.S. Department of Energy (DOE) recently announced a measure to simplify the energy export licensing procedures for countries that have not concluded the Free Trade Agreement (FTA) relationship with the United States, raising the expectation for full-scale energy export business in the United States. The U.S. Federal Energy Regulatory Commission (FERC) authorized the Cameron LNG terminal which Japan is currently focusing on and would have an annual export capacity of 12 million tons of LNG. It is the second time that the U.S. authorized the LNG export project after it gave authorization to Sabine Pass LNG in April The Cameron LNG project will receive an injection of USD 10 billion and be built in Louisiana. The construction will commence from the end of this year. Specifically, the Cameron LNG project will start the first export by the end of 2017 and have a daily export capacity of 1.7 billion (1 cubic feet equals to liters) by The surge in the production of shale gas and tight oil(also known as shale oil), spurred by shale revolution, has led the United States - which had been traditionally pure importer of crude oil and natural gas - to expand energy exports. Along 34