In this issue

 

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…
For new gas pipelines, timing is everything. This especially applies to the new 38 Bcm/y ‘Power of Siberia (PoS)’ link that will elevate China to become Gazprom’s second largest export…
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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.