SHIPS AGENCY:

Global LNG Outlook to 2030

from a Shipping Perspective
Spotlight on Australia, Korea and Japan

Commodity Insights
wilhelmsen.com 2017 Edition
Foreword Jason Hawkins
Sales Director Ships Agency, East Region

This report summarizes our reflections on the performance of the LNG industry over the 2016-2017 period
and an analysis of how the LNG market will evolve up to 2030. Coming from a Ships Agency perspective, we
aimed to capture a holistic view of the LNG industry's upstream to downstream supply chain by highlighting
the movements of key players in various locations, LNG projects, trade routes and load/discharge port calls.
In addition, with the rise of emerging markets in the East, our report provides further insight into Australia,
Japan and Korea whom we consider to be some of the key Eastern players in the LNG market.

"2016-2017 saw the largest injection of new LNG into the market in
history. As we look beyond 2018 where oversupply will still dominate,
it will be a playing field, where only the very strongest survive."
Contents
LNG Global Overview 1
Global outlook 2017-2030
LNG contracts
Upcoming LNG projects
Trending topic: Panama Canal
LNG trade routes 2016 – 2017
Global gas trade movement pipeline overview
Australia LNG exports review and forecast 2012 – 2020

LNG load and discharge ports 8

Top 20 load countries by port calls
Major LNG load ports
Major shippers load port terminal calls
Major buyers discharge port terminal calls

Japan in focus: LNG review and outlook 12

LNG imports by country
Total energy consumption
Electricity generation mix VS Global energy demand

Korea in focus: LNG review and outlook 16

LNG imports by country
Total energy consumption
Electricity generation mix VS Global energy demand

Wilhelmsen 20
Ships Agency Global LNG Footprint
Specialised Tanker Safety Training
01

Global Outlook Incremental changes in LNG demand

2017-2030
1.2% 15.3% 12.3%
22.1%
Global LNG demand will likely reach 280MMtpa in 2017, up 2.2% 32.1%
22MMtpa from last year
9.3%

The 8.8% jump represents the largest year-on-year growth since the 10.2% 5.0%
2011 Fukushima disaster. Future net annual demand growth is 258MMtpa
12.1%
479MMtpa
4.4%
expected to follow a seven-year cycle. By 2030, world LNG demand 7.2%
is projected to reach 479MMtpa, rising at a compound annual 13.0% 8.9% 10.2%
2.3%
6.3%
growth rate of 4.5%. 6.5% 5.8% 13.4%

The rise of emerging markets Black line -

28
China, along with emerging markets such as Pakistan, Bangladesh net demand growth
and new small LNG importing countries will drive the demand 20 Japan
growth primarily through 2020. After that, Southeast Asia demand Taiwan
will surge as the region’s pipeline gas supply falls. Europe is 12 China
Latin & South America
expected to buoy global LNG demand from 2026 throughout to Southeast Asia
4
2030. South Korea
-4 India

Medium-term (2017-20) Middle East

Emerging Market
-12
Strong growth is expected to push total global LNG demand to Europe
314MMtpa by 2020. This will be driven by energy policies favoring

17

19

21

23

25

27

29
20

20

20

20

20

20

20
gas, structural changes in power markets, and concerns over
nuclear. LNG supply is set for a more striking rise and production Source: NGW
capacity will reach 400MMtpa by 2020 as the U.S. and Australia
Who will sink or swim?
complete export terminals currently under construction. Oversupply
Historically, a large portion of LNG volumes have been traded under long-term, fixed
continues to look inevitable over the next several years, despite
destination contracts. Over the past decade, a growing number of cargoes have been
strong demand growth, but won’t be as serious as previously
sold under shorter contracts or on the spot market.
expected.
This “non long-term” LNG trade has been made possible by the proliferation of
Longer-term (2020-30) flexible-destination contracts and an emergence of portfolio players and traders.
Demand will continue to grow and reach 479MMtpa by 2030 as
Japanese buyers have been the first (many more to come) who have now pushed back
large opportunities in new markets materialize. These include the
and will not accept new contracts for long-term purchase of LNG that contain clauses
development of new power markets, greater use of gas in
that restrict where the gas can be sold.
renewables integration, and the opportunity to use gas as a
replacement fuel as coal and nuclear plants retire. Supply will peak By the first half of the 2020s, LNG industry will be facing a
in 2020, and no new projects are expected on line during 2020-24.
As a result, the global LNG market will become supply-tight around very different market from the one we are in today. Growth
2023-24 and face a potential supply shortage from 2025. and survival will come from a liquid, flexible and more
transparent spot market, as competition not seen ever
before comes into play.
 02

LNG Contracts
LNG contracts signed each year by tenure Leading LNG sellers’ shares in total contract sales
In the first half of 2017, LNG contract sales declined
to 5.7MMt Other Portfolio Qatar
This is a new record low over the last eight years. This amounts to United States Australia
MMtpa MMtpa
less than half of the volumes sold over the same period in 2016, >20 years
which is indicating a very challenging market ahead for LNG 60 11-20 years 100%
producers and sellers. 5-10 years
50 1-4 years 80%
Interests in short-term contracts (1-5 years) has
diminished considerably 40
60%
Most buyers expect abundant availability of cheaper spot LNG
30
cargos over the next few years due to forth coming oversupply and
then continued softening of oil prices. 40%
20

A new frontier in long-term sales contracts 20%

10
Qatar and senior global portfolio suppliers managed to seal
long-term sales contracts, beating some their rivals in the global
0 0%
market. Portfolio suppliers comprise of traders (who are relatively
new in the market) that buy LNG volumes from various projects and

16
12
10

11

13

14

15

17

10

11

12

13

14

15

17
16

20
20
20

20

20

20

20

20

20

20

20

20

20

20

20
20
combine them together to sell to end-users. This new frontier of

1H

1H
purchasing LNG by way of optimizing their LNG supply portfolios, is Source: NGW

ensuring these new players can offer flexible and competitive

terms in their sales contracts and secure quick wins over many of
their rivals.
Spot LNG prices to stabilize with Qatar’s injected supply
The outlook by 2025, is showing demand will catch up with supply
overcapacity currently coming into the market. In 2016, the general
consensus was to expect a supply shortage post-2025, however
with Qatar now confirming that it has decided to add 30MMTPA of
supply in the market, this will quickly balance the market and
prevent spot LNG prices from going very high. Indications are that if
oil prices stay close to the current futures, spot LNG prices should
remain in $6/MMBTU until middle of the 2020s.
Our Analysis
The largest global trade flow route continues to be Intra-Pacific trade, a trend which is
poised to continue as that basin posted the largest gains in both supply and demand
by region. Continuing growth in Chinese and Indian demand, as well as Australian
production, will cement this trade route’s importance.
Trade between the Middle East and Pacific was the second-highest by volume, due to
Qatar’s role in supplying Japan and South Korea. Given higher prices in Asian markets
during the second half of 2016, much of Qatar’s supply went to the Pacific, which
reflected in the Middle-East to Atlantic trade decline to just 7% of global trade in 2016,
making it the fastest-declining in 2016 area.
Looking ahead, an important factor in 2017 will include the trend of demand loss
for LNG in foundational importing countries such as Japan and South Korea. This
is notwithstanding continued uncertainty regarding nuclear power generation in
both of these countries.
The continual strong demand for energy in both China and India will also support LNG
imports into those markets, as additional Pacific Basin production becomes available.
03

Upcoming LNG Projects

26 projects totaling 110MMtpa coming online during 2017-20

MMtpa

Commissioned train projects in 2017 injected a combined 18

capacity of 9.7MMTPA into the global market 16

In the first half of 2017 two major LNG projects were
14
commissioned, Cheniere’s Sabine Pass train 3 (4.5MMTPA) Elba Island
and Chevron’s Gorgon train 3 (5.2MMTPA). These two projects 12 Sabine Pass
alone have injected a combined capacity of 9.7MMTPA into the Corpus Christi
10 Freeport LNG
global market. Cameron LNG
8 Cove Point

Four additional projects totaling 15.5MMTPA will bring 6

Cameroon FLNG
Petronas Rotan FLNG
global additional tonnage for 2017 to 25.2 MMTPA Tangguh
4
Over the second half of 2017, four additional projects totaling Yamal LNG

15.5MMTPA being Chevron’s Wheatstone train 1,Cheniere’s 2

Prelude FLNG
Wheatstone
Sabine Pass 4, Dominion Resources’ Cove Point 1 and Golar LNG’s Ichthys
0
Cameroon FLNG, are expected to come online which will bring the Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Gorgon

total global additional tonnage for 2017 to 25.2 MMTPA.

17

18

19

20
20

20

20

20
20 projects totaling 84.7MMTPA scheduled to start Source: NGW

in 2018-20
In addition, there are a further 20 projects totaling 84.7MMTPA
that are scheduled to start operation in the 2018-20 period.
Of these, 45.9MMTPA will be from the U.S., 17MMTPA from
Australia, 16.5MMTPA from Russia and 5.3MMTPA from
Malaysia and Indonesia. 
Australia will complete the construction of four remaining
trains by Q3 2018.
Russia’s Novatek is on track to see the first train of the Yamal
LNG project come online in early 2018.
Our Analysis
Global liquefaction capacity has grown to 339.7 MTPA as from the start of 2017, an
increase of approximately 35 MTPA relative to end-2015.
Some project delays and outages during 2016 limited the effect of the anticipated
imbalance in the LNG market. Only two projects, totalling 6.3 MTPA, reached a final
investment decision in 2016.
Under-construction capacity totalled 114.6 MTPA as of January 2017. Projects are
focused primarily in Australia & the U.S, and on several floating LNG (FLNG) developments,
the first of which come online in early 2017.

By the end of 2018, the shift will move across to the United
States LNG projects with Freeport LNG and Kinder Morgan’s
Elba Island Phase I. Following these will be Sempra Energy’s
Cameron LNG and Cheniere’ s Corpus Christi.
Looking further afield the only other committed projects to
come on stream will be from Indonesia and Malaysia. By
early 2020, BP’s Tangguh train 3 is likely to be brought
online, while Petronas will commission its second floating
project Rotan FLNG.
With more than 55 MTPA of capacity online and a furthermore 30 MTPA expected online
over the next two years, Australia is expected to become the largest liquefaction capacity
holder by mid 2018.
North America accounts for the majority of new liquefaction project proposals, where 664
MTPA of capacity has been earmarked in the US and Canada.
The anticipated LNG oversupply and structural shifts in some buyers’ demand
requirements have continued to slow the long-term contracting activity that is
generally required to finance new projects, only the most cost-effective projects will
ever see daylight during this period.
 04

Trending Topic:
Panama Canal
The single slot dilemma
Currently all LNG transits are limited to daylight hours, with only a
single slot available per day. The Panama Canal Authority (PCA) is
working with LNG shippers towards doubling the capacity set
aside for LNG vessels by Q3 2018.

Slots fully booked… but with several no-shows

As of October 2017, all available LNG transit slots have been
booked through the third quarter of 2018 by counter-parties, with
offtake from the US Gulf. These slots can be cancelled with
advanced notice at the higher of varying discount percentages to
the booking fee of $35,000 or a fixed amount.

To date only two LNG vessels have shown up without a booking in

anticipation of a cancelled slot.

Over 171 LNG carriers have so far transited the Panama Canal, or
some 8.6% of transits through the Neopanamax locks.

Canal Transit fee example as of September 2017, based on LNG

vessel with capacity of 170,000 cubic meters.

A) The laden toll would be $430,800.

B) The ballast toll would be $379,000.

These tolls apply to the canal’s Panamax and Neopanamax locks.
Want an estimate on your Panama Canal toll
fees? Calculate your tolls instantly here:
http://www.wilhelmsen.com/tollcalculators/panama-
toll-calculator/
Our Analysis
The Panama Canal Authority are going to work with US LNG shippers over the next 12
months, to enable two LNG daylight-only transits per day instead of only one currently in play.
An area where pressure can be applied to avoid all transit slots being taken up or pre-blocked
is for the authority to increase the cancellation fee which is currently only $35,000.
The major LNG players who wish to squeeze the market (as they do today) look at this current
cancellation fees as an insignificant cost, since the existing fee is a drop in the ocean
(basically 50% of the current daily operating rate).
If LNG Shippers in the States push for the canal authority to increase the cancellation
fees to the range of $170K (which is approx. 50% of the ballast transit cost of the canal),
then will we likely start seeing a change in the slots being taken up.
05

Global LNG Trade Routes 1 Shortest LNG voyage length in 2015: 111 nm (Algeria to Spain)

Trade Flows (2016-2017) 2 Longest LNG voyage length in 2015: 13,809 nm (Trinidad to Japan)
Average LNG voyage length in 2015: 7,640 nm

Norway

United Kingdom
Canada Lithuania Russia
Netherlands
Poland
Belgium 3 China
France
2
Spain Italy Greece Japan
Portugal
1 Turkey 4
United States
South Korea
LNG Traders Israel
Jordan Pakistan
Kuwait
Algeria UAE
Importer Mexcio Egypt Qatar Taiwan
Dominican Republic
Puerto Rico India
Exporter Jamaica Thailand
Trinidad Oman
Nigeria
Both
Colombia Brunei
Malaysia Singapore
Equatorial Guinea Papua New Guinea
LNG Flow (MT)
Brazil Angola Indonesia
Peru
0.01-1.0

1.1-2.0 Australia

Chile
3.0-5.0
Argentina
5.1-8.0

>8.1

Shortest /
longest route

3 Australia → China, +1.8 MMt (+46% YOY)

4 Yemen → Korea, -2.6 MMt (-82% YOY)

Created by Wilhelmsen | Ships agency Source: IGU

 06

Global Gas Trade Movement Pipeline

Trade Flows (2016-2017)

143.0

Europe & Eurasia

Canada 24.7
21.7
23.2
21.9 82.4 34.2
United States
36.9 14.2 6.7
Middle East

Mexcio
38.4 20.0
8.8
Asia Pacific
Africa

S. & Cent. America 8.8

10.4
8.3
5.8

Pipeline Gas Trade

Created by Wilhelmsen | Ships agency Sources: CISStat, FGE MENAgas service, IHS
07

Australia LNG Exports :

Review and forecast
Key Highlights
The market globally will be a long road up to 2022 and even out to
2025 as demand cannot keep up with new supply. Australia will
reach its peak by 2019 and the outlook is that this plateau
throughout 2022 will remain. However with the amount of reserves
available, Australia could with a flick of a switch activate new and
expansion project very quickly. No room for new entrants
Japan As Australia’s LNG production heads
By 2030, between 175 & 210bcm of new towards a plateau in 2019, the market
South Korea 18.4 Mt
supply, beyond that which is already under 0.9 Mt
(which is in the stage of maturity) will limit
China the number of new entrants to any future
proposal or construction is needed to meet 3.8 Mt developments or expansion, as the LNG
the global demand. majors have taken up a position of control
Taipei
across the entire country.
0.1 Mt

Ichthys LNG
Darwin LNG
Prelude LNG

Million MT
Forecast
90 Other
0.1 Mt
80
Australia
70

60
23.2 Mt
Pluto LNG
50
Australia and Asia market North West Shelf

40
Australia’s proximity to the Asian market still Wheatstone LNG
places it ahead of the curve with reliability Gorgon LNG
30 and continuity of supply, which is a critical Santos GLNG Project
factor in the market.
20 Queensland Curtis LNG
As Australia’s mature markets begin to settle Australia Pacific LNG
10 in for a period of decelerating as contracts
come into play, new markets are emerging LNG plant - operating Coal seam gas
0
with Bangladesh, Myanmar & Pakistan - all LNG plant - under construction Shael gas
within close proximity looking to move into
14
12

13

15

16

17

22
18

19

20

21
20

Conventional gas
20

20

20

20

20

20
20

20

20

20

the LNG sector.

 08

LNG load and

discharge ports
09

Top 20 Load Countries Major Load Ports

Based on port calls in 2016

Key Highlights Key Highlights

Both Qatar & Australia continued to dominate the global stage with the gap
between the rest growing further apart YOY since 2015.
The trend will continue well into 2018 for Australia as it takes the lead, however
with Qatar announcing that it will inject a major expansion phase in 2018 – 2019,
this race between the two largest countries and the rest will only widen.
1200
For the first time, Gladstone & Barrow Island have made this global list. With
both ports continuing to gear up throughout 2017, we should see a further
climb up this ladder in 2018.
Throughout 2018, the list of major load ports should see some new ports
enter this ladder with Darwin, Yamal & Wheatstone making inroads.
1200

1000 1000

800 800
Port Calls (2016)

Port Calls (2016)

600 600

400 400

200 200

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Created by Wilhelmsen | Ships agency Ar Created by Wilhelmsen | Ships agency

 10

Major Shippers Load Port Terminal Calls

Key Highlights
Four new projects totalling 31.7 MTPA of capacity began
commercial operations in 2016:
Gorgon LNG T1-2 (10.4 MTPA)
1200
GLNG T1-2 (7.8 MTPA)
Australia Pacific LNG T1 (4.5 MTPA) in Australia
First two trains (9 MTPA) at Sabine Pass LNG in the United States

MLNG T9 in Malaysia (3.6 MTPA) began commercial operations in

1000
January 2017.

During 2017, producers plan to bring 47.6 MTPA of capacity

online – 50% more than in 2016 – in the US, Australia, Cameroon,
Malaysia, Indonesia, and Russia.
800

Load Port Terminal Calls (2016)

Under construction capacity is also ramping
up with 114.6 MTPA as of January 2017,
being well into construction phase. 600

Both the US and Australia will be the main contributors to new

liquefaction capacity. Australia will have the largest liquefaction
capacity in the world by 2018, with capacity expected to grow to
85 MTPA, up from 43.7 MTPA in 2016. In the US, 57.6 MTPA is
400
under construction.

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11

Major Buyers Discharge Port Terminal Calls

Key Highlights
Global LNG regasification capacity also increased, reaching 777
MTPA by end-2016 and 795 MTPA as of January 2017, with new
terminals in China, Japan, France, India, and South Korea.
600

Poland and Colombia have joined the global LNG market as new
importers. UAE (via Abu Dhabi) has also began imports via an
FSRU in 2017 for the first time.
500
Jamaica completed its first LNG terminal in late 2016 and began
importing LNG via floating storage FSRU. Over the last few years,
given relatively low LNG price, new markets have been able to
complete regasification projects fairly quickly using FSRUs over

Discharge Port Terminal Calls (2016)

costly land based terminals.
400

Over the last 15 years, the number of

countries with LNG regasification
capacity has tripled. LNG trade has 300
expanded due to growing flexibility of
supply and quicker access to new and
existing markets via FSRUs.
200
Lower LNG prices have been a driver for demand growth in India,
while China is approaching contract levels.

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Created by Wilhelmsen | Ships agency
 12

Japan in focus:
LNG review and outlook
13

Japan’s LNG imports by country (2016)

27 %
Australia 18% 5% Brunei

15%
5% PNG
Malaysia 3% Oman

9%
2% Nigeria
2% Others
Qatar
Russia 8% 6%
Indonesia
UAE

Created by Wilhelmsen | Ships agency

Key Highlights
Australia remains the dominant supplier of LNG to Japan with a continual YOY
increase since 2011 totaling 9%. Further growth throughout 2017 and well
into 2018 will continue, as the final phase of current production projects
come on stream.
As with Australia, the United States continues its production of shale gas
into the global supply, with Japan being a key destination. The figures by
the end of 2017 will reflect this as the United States’ market share grows
within Japan.
 14

Japan’s total energy consumption (2016)

Key Highlights
The opening of Japan’s entire retail power sector to competition in
April 2016 led to relatively fast customer switching, with a direct
impact on incumbents’ fuel procurement needs.

This builds upon the further uncertainty the incumbent electricity

utilities face regarding the timing of nuclear restarts. Any further
delays will lead to a greater need for short-term LNG imports.

By the start of 2016, Japan’s natural gas

consumption reached 4.4 trillion cubic feet of
natural gas per year, rising approx. 42% from
a decade earlier. Practically all of Japan’s
natural gas demand is met by LNG imports,
43% 27% 23% 3% 1% with the exception of a very small portion of
domestic production stocks.
Energy Split
After the economic recovery following the global financial crisis in
Petroleum & other liquid 2008 and the March 2011 earthquake which put a holt to nuclear
Coal supplies, Japan’s natural gas demand rose dramatically between
2009 and 2012.
Natural Gas
Other Renewables Then a softening of the economic market resulted in electricity
Nuclear demand weakening - this was linked to coal prices which also
dropped. Renewable energy production however rose, and natural
gas demand plateaued between 2012-2014 before falling in 2015.

Created by Wilhelmsen | Ships agency

15

Japan electricity generation mix VS Global energy demand

32%

24%

Key Highlights
Renewable energy (including biofuels) continued again as the
18%
fastest global growing energy source, accounting for approx. a
third of the increase in primary energy. That being said, it was oil
13% that actually provided the largest contribution to growth, due to
low levels of oil prices boosting demand.
10%

By contrast, it must be said that Natural gas also grew at the same
rate as oil. However the most prominent feature across the
Global different energies was the continuing rapid descent of coal, with
Energy 3% consumption dropping sharply for the second consecutive year.
Demand
(2016) Japan’s energy self-sufficiency rate is
forecast to improve to about 24.3% by 2030,
Japan Coal Natural Nuclear Hydro Oil Other
from 6.1% in 2013. Electricity costs are
Electricity Gas predicted to drop by 2-5% from current
Generation 3%
levels driven by reductions in fuel expenses
Mix (2030)
from the expansion of renewable energy, the
~9%
restart of nuclear power plants, efficiency
improvements in thermal power generation
14% as well as stronger global demand on
countries to promote and implement
20 - renewable energy use.
22%

26%
27%
Created by Wilhelmsen | Ships agency Source: METi
 16

Korea in focus:
LNG review and outlook
17

Korea’s LNG imports by country (2016)

37 %
Qatar
12% 11% 11%
Oman
Indonesia Malaysia
8% 8% 5%
Russia Australia 4 %
4 %
Others
Nigeria Brunei

Created by Wilhelmsen | Ships agency

Key Highlights
Liquefied natural gas (LNG) imports into South Korea, the world’s Kogas, who controls 100% of the LNG market in Korea, operates a total of
second-largest buyer of the fuel, rose by 39.6% in June year-on-year. 74 LNG storage tanks in South Korea and overseas. It imports
approximately 96 percent of Korea’s LNG demand via its four LNG
Qatar, the world’s biggest LNG exporter, remained the dominant source terminals, namely Incheon, Pyeongtaek, Tongyeong and Samcheok.
of South Korean imports. Australia is now emerging as a major supplier,
with new terminals in Australia coming on stream to which Kogas is a
major buyer.
 18

Korea’s total energy consumption (2016)

Key Highlights

South Korea relies on imports to meet about

98% of its fossil fuel consumption as a result
of insufficient domestic resources.
The country is one of the world’s leading
energy importers.
South Korea was the world’s ninth-largest energy consumer in
2015 (according to estimates from the BP Statistical Review of
World Energy 2016), due to the following reasons:

South Korea lacks domestic energy reserves - it is one of the

top energy importers in the world and relies on imports for
about 98% of its fossil fuel consumption. South Korea ranks
41% 29% 16% 13% 1% among the world’s top five importers of liquefied natural gas,
coal, crude oil, and refined products.

South Korea has no international oil or natural gas pipelines

and relies exclusively on tanker shipments of LNG and crude
oil. Despite its lack of domestic energy resources, South Korea
is home to some of the largest and most advanced oil
Energy Split refineries in the world. In an effort to improve the nation’s
energy security, oil and natural gas companies are aggressively
Petroleum & other liquid seeking overseas exploration and production opportunities.
Coal
South Korea's highly developed economy drives its energy
Natural Gas consumption. Its economic growth is fuelled by exports, most
Nuclear notably exports of electronics and semiconductors and
shipbuilding industries. Real gross domestic product (GDP)
Renewable Sources
grew to 3.3% in 2014, up from 2.9% in 2013. However, GDP
growth dropped to 2.6% in 2016 as demand in the country's
export markets weakened.
Created by Wilhelmsen | Ships agency
19

Korea’s electricity generation mix VS Global energy demand

32%

24%

18% Key Highlights

Renewable energy (including biofuels) continued again as the
fastest global growing energy source, accounting for approx. a
13%
third of the increase in primary energy. That being said, while oil
demand was high due to low levels of oil prices boosting
10% demand, when it comes to use as an energy, it has remained
3% stagnant over the last 2 years. By contrast, natural gas
Global continued to grow at rates above forecast. However the most
Energy prominent feature across the different energies was the
Demand continuing rapid descent of coal, with consumption dropping
(2016) sharply for the second consecutive year.
Coal Natural Nuclear Hydro Oil Other
Gas
Korea’s energy self-sufficiency rate is forecast to improve to
Korea about 24.3% by 2030, from 6.1% in 2013. Electricity costs are
Energy predicted to drop by 2-5% from current levels driven by
Forecast reductions in fuel expenses from the expansion of renewable
(2030) energy. Nuclear power remains a stable efficient provider,
although no new plants are planned for up to 2030.
18%

By 2030, Natural Gas will be Korea's main

24%
20%
source of energy while coal generation
continues its downward trend as cleaner
energy sources become dominant globally.

38%
Created by Wilhelmsen | Ships agency Source: METi
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Wilhelmsen
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Ships Agency Global LNG Footprint

Asia

Europe

North America

Darwin

Africa
Barrow Island
Dampier
Gladstone
Australia
South America

Australia

Cargo Operation

Discharge 118 578 580 73 455 457

Vessels Port Calls Cargo Jobs Vessels Port Calls Cargo Jobs
Load

Created by Wilhelmsen | Ships agency

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Specialised Tanker Safety Training
Wilhelmsen Ships Service is strongly committed to
ensuring our staff are equipped with the knowledge and
training required for safe and efficient tanker operations.
Once again in August 2017, it was Darwin's turn to host
the latest training seminar.
Since 2004, we have conducted
regular tanker and dry bulk safety
training courses nationally. This
training covers a range of material
including internal safety policies and
procedures, customer expectations,
tanker and dry bulk safety specific
content, as well as relevant guest
speakers from authorities, terminal
operators and customers.
The training also covers emergency
response procedures in case of a
maritime incident, accident or spill.
We conduct a risk assessment
workshop to ensure our employees
have the skills required to complete a
risk assessment, identify
unacceptable risks and create action
plans to eliminate or reduce risks
relevant to their working environment.
A major asset to this training is the utilisation of both
internal and external speakers and resources. The lead
trainer for this program is Captain Robin Gratjios, who
holds a wealth of knowledge in tankers and LNG tankers
specifically. Robin’s background a master mariner
on-board LNG vessels and experience from holding senior
management roles in the Australian energy transport
industry makes his inclusion an invaluable contribution to
our training program. Robin’s private consultancy firm
‘SafeShip’ is highly regarded both in Australia and globally
for LNG safety training.
Local guest speakers were another valuable inclusion with
additional content provided by representatives of various
organizations nationally, including AMSA, AQIS, Customs,
port authorities, terminal operators and customers.
A significant amount of focus in this training is specific to
LNG tanker safety. LNG specific content provided by our
training includes the following focus areas:
Gas tanker overview
LNG tanker design types (Moss Rosenberg/ Membrane)
Gas cooling and compression
Risks and hazards associated with LNG cargoes
Sources of ignition
Vessel specific operating instructions
Gas tanker emergency response
As a learning organisation we continually seek to renew
ourselves, to work smarter and improve everything we do.
As a result, we are more able to recognise opportunities
and develop new and innovative solutions.
Interested in attending this training?
Contact us for more info at wss.tradetalk@wilhelmsen.com
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wss.tradetalk@wilhelmsen.com | wilhelmsen.com