In this issue

 

Anatol Feygin, Chief Commercial Officer (CCO) at Cheniere Energy, is bullish on forward LNG margins and profits. “Forward margins today during the Northern Hemisphere Spring shoulder season, are higher than…
Asia’s LNG demand is “loose” this summer, except for China where a rebounding economy has pushed up imports to 2.5 million tons. Analysts anticipate the JKM–TTF spread on the curve…
Free ReadRussia’s Novatek, developer of the Arctic LNG II project, has sealed two LNG supply accords with the global commodity trader Glencore and China’s Zhejiang Energy Gas Group. The accord with…
Hong-Kong listed PetroChina, with LNG stakes in Canada and Mozambique, is optimising the structure of gas sources in an effort to reduce costs of imported natural gas and LNG. The…
India’s spike in Covid19 cases has made utility buyers sell LNG cargoes heading to the country as energy demand dropped amid calls for another nationwide lockdown. Eight to nine LNG…
Beijing is backing the expansion of China’s network of LNG regasification terminals. Ambitious construction programs are under way, designed to add around 12 million tons per annum (mtpa) of regas…
Free ReadTrucking LNG to remote demand centres has surged in China amid a policy push to switch from coal to natural gas in power generation. Pipeline networks take years to develop,…
Demand across south-east Asia is rebounding, but it is China where much of the growth is currently materialising. Beijing’s coal-to-gas switching policies are gathering pace and spurred a demand surge…
If the world takes decisive actions to limit global warming to 2°C by 2050, oil demand and prices would fall rapidly later this decade, while gas demand and price would…
Sunday, 06 June 2021
Free ReadThere were 2.14mmt of LNG on the water with destinations in China according to market visibility at the time of writing on 3rd June. These cargoes had a delivery horizon…
China’s month-on-month LNG offtake grew by 0.72mmt in May, increasing robustly by 11 percent to 7.13mmt. Monthly Chinese offtakes also increased by 0.86mmt (16 percent) month-on-month in April, meaning that…
Though the Suez Canal Suez blockade has caused much of an uproar on global shipping markets, it only had a modest impact on LNG shipping and spot LNG prices in…
Electric utilities in China avoid investing in gas peaking plants due to cost issues. Fuel prices are bound to rise with the start of China’s national emissions trading scheme (CETS)…
Free ReadChina National Offshore Oil Corp., one of China’s main LNG importers, has issued an advisory statement expressing “regret” at a decision by New York Stock Exchange to delist its shares…
Page 1 of 5

News Nudges

Charter rates steady

Shipping charter rates for LNG carriers in the spot market were little changed in the past week in the West of Suez market at between $59,000 per day and $55,000 per day for vessels of 155,000-165,000 cubic metres capacity. For vessels East of Suez fixture levels were down by at least $2,000 per day and were quoted at between $54,000 per day and $50,000 per day, according to London brokers. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.


Coal-to-gas transition

South Korea, the world’s third-largest LNG importer, will likely see natural gas demand rise 15% over the next 12 years as the country transitions from coal to gas generation and renewables. The energy ministry forecasts gas demand will amount to 41.7 million this year, and grow to 47.9 mt by 2034.