In this issue

 

Free ReadChina has pledged to improve its use of cleaner fuel in the transportation sector where more LNG will be used for shipping, trucking and other industries, while domestic Emission Control…
Monday, 08 February 2021
1.15mmt on the water with a delivery horizon of 22nd February and c. 37 percent due in the North China region. At the time of writing, there was also a…
China’s LNG offtake in January amounted to 8.37mmt, which was 1.63mmt higher than the country’s total imports of 6.74mmt in November, thus increasing significantly by 24 percent. Since this report…
Free ReadChina’s domestic gas market tightens as the winter approaches and CNOOC anticipates a 10% rise in demand to 148.7 billion cubic meters (bcm). In northern China, gas demand peaks during…
City-gas distributors in China will benefit from timelier fuel-cost pass-through under the national gas market reform, Fitch Rating reckons. With pipeline access now open to all, those with access to…
President Xi Jinping has pledged that China, the world’s largest carbon emitter, will reach peak emissions before 2030 and aspires to become carbon-neutral by 2060. If realized, this ambitious goal…
China Petroleum and Chemical Corp., better known as Sinopec, has seen net profits slump 45.7 percent to 23.51 billion Chinese yuan ($3.5 billion) in the year to date in a…
Free ReadChina National Offshore Oil Corp. (CNOOC) has raised its year-to-date domestic gas production to 311.3 billion cubic feet (bcf), up from 250.6 bcf, in a first step towards making gas…
Wison Offshore and Marine, the owner of the Chinese shipyard at Nantong in Jiangsu province, has started to modernize the yard’s LNG shipbuilding capability. The upgrade will expand the yard’s…
U.S. liquefaction plant developer Venture Global sees LNG-fuelled power generation as “a counter” to China’s building spree of new coal power units. By turning to LNG, utilities can “regain control…
Monday, 02 November 2020
Free Read2.77mmt on the water with a delivery horizon of 1st December, with c. 44 percent due in the North China region. At the time of writing, there were also cargoes…
China’s LNG offtake declined by 0.49mmt month-on-month in October, decreasing significantly by 8.7 percent to 5.07mmt. Monthly Chinese offtakes had grown by 0.41mmt (7.7 percent) in August, whereas month-on-month demand…
Asian spot LNG prices have risen to a more than a six-month high in mid-August on concerns over production from Australia’s Gorgon plant. Gorgon LNG Train-2 has been shut for…
China remains the largest market for investment in 2020, with as the initial 12% fall in energy spending is now getting compensated by revived industrial activity and a renewed hunger…

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.