In this issue

 

Thursday, 04 June 2020
Total of 1.80mmt on the water with a delivery horizon of 7th July, with more than half due in the North China region. Three cargoes originated in the United States…
Thursday, 04 June 2020
Free ReadChina’s m/m LNG offtake grew by 0.42mmt in May, increasing robustly by 7.17% to 6.28mmt. Monthly Chinese offtakes had also grown by 1.48mmt (33.8%) in April, meaning that the country…
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…
Free ReadThough 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
Free ReadTotal 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
Free ReadChina’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…

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.