text: Wikborg Rein & Co: Oil Prices Won't Impact Dual-Fuel
  Joe McGladdery (Photo courtesy of Wikborg Rein & Co)
  "As a result of the oil price collapse, energy companies are reducing capital budgets to protect against falling revenues. Given the investment levels needed to sustain an LNG production project, the final decision to proceed with a number of projects has been put on hold," said McGladdery in a statement. "This uncertainty over the progress of production projects has exerted further downward pressure on an already static charter market for LNG carriers, and the prospects are not looking favorable as the number of open ships grows and anticipated new cargoes fail to materialize."
  McGladdery, who is a part of the firm's Shipping Offshore group, noted that there has been doubt about the viability of dual-fuel gas injection technology in the current market, due to the fall of both oil prices and LNG prices.
  Before becoming a partner at Wikborg Rein & Co, McGladdery was the General Counsel for the Qatar Gas Transport Company Limited (Nakilat).