In this issue

 

Free ReadOnly Asia has seen LNG imports rise despite the pandemic, largely due to the Chinese government’s coal-to-gas switching policies which pushed up imports by 1.0 billion cubic feet per day…
Strong growth in renewables has reduced the share of coal in China’s power generation mix to less than 50% – for the first time. Fitch Ratings expects the contribution of…
Chinese LNG show no signs of slowing amid a gas infrastructure build-out. Shipments to China during the first six months of 2021 jumped to 39.78 million tons from 31.18 million tons…
Petronas LNG has signed a 10-year term deal to supply LNG to CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corp (CNOOC). This…
Free ReadChinese shipyard Wison Offshore and Marine has completed four modules to make up the first liquefaction Train at the Arctic LNG II export plant being developed on the Gydan Peninsula…
French liquefied natural gas storage technology firm Gaztranzport and Technigaz (GTT) has expanded business in China by receiving a first storage system order for an LNG carrier from Jiangnan Shipyard…
Monday, 06 September 2021
There were 2.75mmt of LNG on the water with destinations in China according to market visibility at the time of writing on 2nd September. These cargoes had an estimated delivery…
Monday, 06 September 2021
Free ReadChina’s monthly LNG offtake grew by 0.41mmt in August, increasing robustly by 7 percent to 6.20mmt. This constituted a rebound following a string of month-on-month reductions in July and June.…
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…

News Nudges

BP teams up with PetroChina to develop CCUS cluster in Hainan

The British oil and gas major BP has signed an agreement with PetroChina to develop carbon capture and storage (CCUS) projects in China’s southern Hainan province. Developments will draw on BP’s expertise with the Net Zero Teesside project, a proposed 860 MW combined-cycle power plant in the UK, with all emissions planned to be captured and securely stored. In China, BP wants to apply its CCUS expertise in the context of PetroChina’s exploration and production activities in Hainan, where the company produces 6000 barrels per day of oil from the Fushan oilfield. Plans have been worked out to build CCUS facilities which can capture up to 1 million tonnes per annum of CO2, expandable to 10 million tpa in future. BP chief executive Bernard Loone underlined China is increasingly looking for low-carbon energy, but it also needs to be secure and affordable. “That is a complex challenge. We need different fuels including oil and gas,” he said, stressing: “Now we see real momentum behind CCUS.”