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…

News Nudges

Rio Grande China deal

NextDecade, developer of the of Rio Grande LNG project along the Brownsville Ship Channel, has executed a binding Heads of Agreement with Guangdong Energy Group for the supply of LNG cargoes for a 20-year term. The Rio Grande project has ultimate plans and permits to produce up to 27 mtpa of LNG from five liquefaction Trains. The accord proposes Guangdong Energy will purchase up to 1.5 mtpa of LNG indexed to US benchmark Henry Hub natural gas price. The LNG supply will initially be from Train one of Rio Grande LNG, which is expected to start commercial operations in 2026.


Peru sends cargoes to Asia

Peru’s LNG exports in March are heading for the North Asian markets of China and South Korea, according to data from energy company PeruPetro. Four vessels have left the Pampa Melchorita liquefaction plant on the Pacific Coast of Peru with three headed for South Korea on the 173,540 cubic metres capacity carrier “Megara”, the 135,400 cbm capacity carrier “Madrid Spirit” and on the 173,400 cbm capacity vessel “Sevilla Knutsen”.


Asian LNG strategy

Japanese LNG and energy engineering company JGC Holdings Corp. has renamed its subsidiary in Singapore JGC Asia Pacific Pte Ltd as a regional headquarters for five countries as the company pursues contract wins in LNG receiving terminals, gas-fired thermal power and other projects, including renewables. “The Singapore company will take on the new role of Asia-Pacific regional headquarters and serve as a base for project execution in Singapore and nearby countries, supporting activities in the Philippines, Indonesia, Vietnam and Malaysia,” said JGC.