Trading firm will provide 10 Suezmax vessels and gain an 8.5% stake in Frontline.
NorthStar has executed an agreement with Fincantieri Bay Shipbuilding to build a 5,400 cubic meter (CBM).
NuStar plans to load the shipment this weekend, following completion of the Cactus II pipeline system.
Frontline and Golden Ocean will acquire 15% and 10% interests in the joint venture respectively, while commodity trader Trafigura will contribute its existing physical bunkering activities and own the remaining 75%.
Venture Global has secured equity funding and is in the late stages of completing debt financing for the Calcasieu Pass facility, and, should Venture Global reach a positive final investment decision,
Offshore terminal will be able to handle VLCCs for the export of Permian oil.
Argentina is looking to become one of the few LNG exporting countries through sales of gas left over in summer periods, when local demand is reduced, while allowing it to increase the inflow of much-needed U.S. dollars to the country.
Government had previously said it lacked the military resources to protect all tankers.
A third of the world’s seaborne oil—almost 17 MMBbl/d—passes through the strait, which narrows to just 21 miles and has long been a strategic chokepoint in the Persian Gulf.