In this issue

 

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…
PetroChina, the Chinese major listed in Hong Kong and with LNG and international assets, reported plunges in annual revenues and net profits of over 20 percent and 57 percent respectively…
ENN Group, the leading non-state energy company in China with LNG and city-gas assets, has reported a 2 percent rise in annual revenues to 71.6 billion Chinese yuan ($11Bln), mainly…

News Nudges

Europe’s gas crisis limits available FSRU vessels in Southeast Asia

Mounting gas shortages in Europe has not only drawn flexible LNG volumes away from Asia but also limited the number of available floating storage and regas (FSRU) vessels, the International Energy Agency (IEA) finds. To replace missing Russian supplies, European importers chartered 12 FSRU that were initially destined for LNG-to-power projects in Southeast Asia. Just over 20 FSRU vessels were available or under construction as of August. Since the war in Ukraine started in mid-February, 12 FSRUs have been chartered by European utility buyers for recently approved import terminals. Nine additional FSRU-based terminals are planned as EU gas buyers rush to replace Russian pipeline gas with LNG imports.The scarcity of floating LNG import terminals risk to slow down the electrification of emerging markets in Southeast Asia, where FRSU were meant to account for a sizeable share of future regas capacity. Gas is no longer the fuel of choice for decentralized power projects in Asia, as prices have gone through the roof and developers opt for renewables combined with energy storage instead.