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…
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News Nudges

Charter rates tumble

Shipping charter rates for LNG carriers in the spot market have plunged for a third week by up to $24,500 dollars per day. Rates were quoted at an average of between $87,000 per day and $83,000 per day for vessels of between 155,000-165,000 cubic capacity in the West of Suez market. In the East of Suez charter market, rates were offered for ships at between $82,000 per day and $78,000 per day, according to various brokers. One-year time charters for the most modern vessels were available for around $49,000 per day.


Japan LNG appeal

Japanese utility and liquefied natural gas buyer Kyushu Electric Power in late January issued a statement saying it was urgently seeking cargoes for its gas-fired plants. “As an emergency measure, we have begun buying 2,000-4,000 tonnes of LNG left in carriers in Asia after having discharged their cargoes to secure our fuel,” said the utility in reference to the heel left in tankers to maintain cool-down. Kyushu Electric, based in the city of Fukuoka in the southernmost Japanese island, said it was also asking other Japanese power companies to swap deliveries if possible. Benchmark power prices in Japan have reached a record high of 232.20 Japanese yen ($2.23) per kilowatt hour. Other Japanese utilities have asked customers to try and save power usage because of gas shortage.