In this issue

 

Monday, 04 May 2020
At the time of writing, 48 cargoes (3.31mmt) shipped since mid-March remain in transit, with 25 (1.76mmt) still lacking confirmed destinations within the Pacific and Atlantic Basins.
Elba Island LNG We have not seen another Elba Island LNG export since January. Notably, the plant remains under construction, having received FERC authorisation to start feeding gas into its…
A triple whammy of a warm winter, sluggish demand in Asia and cancelled cargoes in China due to the coronavirus outbreak is prompting Cheniere to slow down its midscale expansion…
Free ReadEnergy independence of the United States will be tested in the 2020s, unless there is a sharp reversal in the collapse of fresh capital expenditure in the shale sector, CME…
The Chinese Government is open to applications for tariff exemptions on several U.S. products, including crude oil and LNG, starting from March 2, 2020. The long-anticipated announcement was widely welcomed…
All eyes are on China’s economic and energy demand growth. But with the U.S. election looming large in November, it is unlikely that President Trump will facilitate real breakthroughs on…
Free ReadLawmakers in the U.S. Congress are preparing to hit European investors in the Nord Stream 2 pipeline with a new set of sanctions in an effort to derail the project…
Natural gas prices at Henry Hub are forecast to stay lower than $4 per million British thermal units (MMBtu) through 2050 amid an abundance of low-cost resources, primarily in the…
Growth in exports of U.S. gas production will nearly double over the next two years, as new liquefaction facilities are placed in service and new gas interconnectors to Mexico begin…
Stranded gas wells at the Marcellus Basin in Pennsylvania, U.S., are being tapped via mobile trailor-mounted liquefaction units. Initial operations were launched and are set to last until at least…
Free ReadRail tankers will soon transport LNG to power generators across the United States, as the regulator seeks to advance the use of this cleaner-burning fuel in decentralized location like the…
The Federal Energy Regulatory Commission (FERC) has refused re-hearing requests from environmental groups for the rehearing of its orders authorizing construction and operation of the Texas LNG Brownsville and Annova…
Sempra Energy's Mexican subsidiary IEnova has seen fourth quarter earnings rise 22 percent to $253.4 million as the South Texas-Tuxpan pipeline went in service. However, these gains were partially offset…
Free ReadNew Fortress Energy (NFE), the owner of LNG facilities in Florida and in Jamaica and projects in Puerto Rico and the US northeast, said it signed a long-term LNG supply…

News Nudges

Charter rates rise

Shipping spot charter rates for LNG carriers soared in the West of Suez market with rates rising by up to $18,500 per day to be between $82,000 per day and $78,000 per day for vessels of 155,000-165,000 cubic metres capacity. East of Suez spot charter rates showed a more moderate increase of $1,500 per day to be quoted by shipbrokers at between $64,000 per day and $60,000 per day. One-year charter rates for the most modern vessels were unchanged at about $93,000 per day.


US LNG for UK

The 145,000 cubic metres liquefied natural carrier “Methane Lydon Volney” was discharging a US cargo on September 29 at the Isle of Grain import terminal on the Medway-Thames estuary, southeast of London. The vessel carrying a cargo lifted from the Sabine Pass plant in Louisiana docked after the UK National Balancing Point benchmark natural gas price hit a seasonal record on September 28.


Fatih Birol on Time 100 list

The Executive Director of the International Energy Agency (IEA), Fatih Birol has been named as one of the 100 most influential people by Time Magazine in its annual list. “In a world where facts are assaulted, Fatih Birol combines the best of high-tech data, optimistic know-how and old-school rhetorical finesse,” US Special Presidential Envoy for Climate John Kerry commented, suggesting the IEA head would use his authority to “slash carbon emissions and save our planet.”