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.