In this issue

 

The first LNG cargo from the United States for more than a year is heading for the Chinese port Tianjin, east of Beijing, from the Cameron export plant in Louisiana…
Though Chinese workers have returned to factories of Airbus, General Motors and Toyota in recent days, many remain shuttered due to coronavirus quarantine measures. The recovery of Chinese gas demand…
Though the latest oil price crash hits U.S. upstream companies, for Asian buyers it’s a blessing as the pricing of oil-indexed long term gas contracts is bound will come down…
Wednesday, 01 April 2020
Indian utility buyers have stepped up LNG imports, snapping up distressed cargoes for cheap. Coal-to-gas switching allows Indian power generators to absorb a large share of cargoes left uncommitted as…
PetroChina, affiliate of state-owned China National Petroleum, recorded a 6 percent rise in annual revenues to 2,520 billion Chinese yuan ($350.8 bn) but net profits fell 14 percent. Hence, the…
China National Offshore Oil Corp (CNOOC) has seen annual net profits rise almost 16 percent as it achieved record production in 2019.Total net oil and gas production amounted to 506.5…
Wednesday, 01 April 2020
Total of 1.08mmt on the water with a delivery horizon of 28th April, with more than half due in North China. One cargo is likely to mark the first US…
China’s m/m LNG offtake grew by 0.59mmt in March, increasing robustly by 15.7% to 4.38mmt. During the third month of this year, the country thus reimbarked on a demand growth…
Tuesday, 04 February 2020
Total of 1.97mmt on the water with a delivery horizon of 20th February, with close to half due in North China and potentially 0.31mmt more to arrive by 13th February
China’s m/m LNG offtake continued to grow by 0.66mmt in December, increasing robustly by 9.7% to 7.48mmt. During the last month of last year, the country thus continued its strong…
Fears spread that a global recession is looming if China fails to contain the spread of the Coronavius. Demand for oil, LNG and pipeline gas are impacted as millions of…
Rampant US gas supply has been outpacing demand growth for the past year, slashing prices in Europe and Asia. Some US exporters are considering shutting in production as record low…
The Chinese government has approved Beijing Gas’ plans to build a 5 mtpa LNG import terminal near Tianjin City by 2022 to help boost regional gas imports. The economically thriving…
China’s hunger for gas surpasses initial estimates, hence Gazprom is evaluating a second interconnector in the Far East. With the launch of the landmark ‘Power of Siberia’ pipeline, Gazprom’s focus…

News Nudges

India buyers snap up cheap cargoes

Indian utility buyers have stepped up LNG imports, snapping up distressed cargoes for cheap. Coal-to-gas switching allows Indian power generators to absorb a large share of cargoes left uncommitted as the coronavirus dampens demand in China, and analysts see India’s annual LNG imports to rise by up to 15% this year. Ship-tracking data from Refinitiv Eikon shows that India imported some 2.36 million tonnes of LNG in February, which surpassed an earlier record of 2.3 million tons set in October. The low spot prices are creating some downstream demand in India, especially from the city-gas sector and for power generation. Some cargoes headed for China have been diverted to India, and a few bargain-hunting Indian buyers have issued tenders for spot cargoes - some even for several months. Reliance Industries is understood to have issued a tender for five cargoes for April to June delivery, while Gujarat State Petroleum Corp (GSPC) sought nine cargoes for February to April.