JP Morgan's new LNG shipowning arm registers first duo under French flag - TradeWinds
JP Morgan’s new LNG shipowning arm registers first duo under French flag | TradeWinds
JP Morgan has put the first two of its rapidly expanding portfolio of LNG carriers under the French flag as it breaks cover on its one-year-old Parisian shipowning company, Orion Global Transport France (OGTF).
The venture, which was set up on 19 September 2022, announced today that it had registered its first two vessels, the 173,000-cbm Orion Bohemia and Orion Monet (both built 2022) with the French ship register.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.