LNG

Increasing and new liquefied natural gas production from US and Australian liquefaction and export plants met lukewarm Asia-Pacific demand growth and with no other viable outlet spot LNG shipments were sold at a discount into European terminals, something that is forecast to be repeated this year.

Novatek, the owner and developer of two Russian Arctic region LNG export plants, has signed an accord to help Vietnam develop a second LNG import terminal and adjacent gas-fired power station in Ninh Thuan province south of Cam Ranh Bay.