In this issue

 

Asian spot LNG prices have risen to a more than a six-month high in mid-August on concerns over production from Australia’s Gorgon plant. Gorgon LNG Train-2 has been shut for…
China remains the largest market for investment in 2020, with as the initial 12% fall in energy spending is now getting compensated by revived industrial activity and a renewed hunger…
Asia is expected to account for the highest global LNG regasification capacity increases. The region is forecast to contribute about 69% of the total regasification capacity additions by 2024.
Fitch Ratings believes the recent gas-fired power tariff cut in China's Guangdong province came in response to the falling spot gas price. The government aims to increase the ratio of…
China’s southern province of Guandong is considering cutting electricity rates that gas-fired generators can charge from their customers by 5-12%. If enacted, this rate cut risks derailing a wider policy…
China National Technical Import & Export Corp. (CNTIC), together with VPower Group, is awaiting further cargoes to beth at their new-built jetty adjacent to their Thanlyin gas power plant (350…
Friday, 04 September 2020
1.52mmt on the water with a delivery horizon of 10th October, with c. 47% due in the North China region. At the time of writing, we saw three cargoes that…
Friday, 04 September 2020
China’s m/m LNG offtake grew by 0.25mmt in August, increasing robustly by 5% to 5.54mmt. Monthly Chinese offtakes had decreased by 0.48mmt (-8%) in June, meaning that the country realigned…
The Chinese economy has recovered swiftly after lockdowns were lifted and factories already operate at 87% of normal output since early April, pushing up energy demand. Australia emerged as China’s…
Russia’s state gas company Gazprom seeks to boost gas production in Yakutia and enhance pressure as well as throughput at the ‘Power of Siberia’ pipeline. There is “plenty of supply,”…
Manufacturing is resuming in China, but the recovery from the coronavirus lockdown still needs to translate in a substantial rise in energy demand. China was the first to implement containment…
Terms of natural gas sales are changing. In the power sector gas no longer competes with oil, but coal and renewables – making hub-indexation traders' preferential choice. Across Asia, including…
The area around Tianjin in northeast China currently has floating and onshore import terminals and is already the nation’s leading LNG importer, but an expansion of the onshore terminal and…
With the Northern Sea Route from Arctic Russia to North Asia opening up earlier this year, the first LNG cargo is on route from Novatek’s Yamal LNG export terminal to…
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News Nudges

Petronas supplies LNG in ISO containers to China

Malaysia’s state energy company Petronas has signed a sales and purchase agreement with Tiger Clean Energy to fill LNG into ISO containers at a tank filling facility at Sarawak, Borneo, for onward shipment to China. The LNG-filled containers would subsequently be trucked to remote locations in China without access to the country’s national gas pipeline grid. Petronas said the latest contract with a Chinese buyer underpinned its reliability in supplying many Asian countries with LNG and since the Bintulu plant began operations in 1983, the company has delivered 11,000 LNG cargoes.


Spot LNGC rates firming

The average LNGC rates continued to firm in the past week. According to the latest Fearnleys figures issued yesterday, East of Suez spot LNGC charters were averaging $45,000 per day, while West of Suez averaged $49,000 per day. The 12-month charter figure also edged up slightly to $45,000 per day.


Chinese interests take stake in Brazil's LNG-fuelled power projects

A Brazilian subsidiary of China’s State Power Investment Corp (SPIC) is to acquire a 33% stake in two Gas Natural Acu (GNA) plants - the largest LNG power project in Latin America. The closing of the deal between SPIC Brasil and GNA, a Brazilian joint venture between BP, Siemens and Prumo Logística, is scheduled in Q4-2020. The complex located at the Port of Açu, in Rio de Janeiro, includes an LNG terminal, which is able to process 21 million cu m of LNG per day. Brazil mainly uses imported gas for power generation.