European gas price jump amid storage withdrawals and cold weather while Asian LNG values also rise
North Asian spot cargo prices increased 4.4 percent on the week while the Dutch Title Transfer Facility benchmark price jumped by more than twice as much as leading European Union LNG nations made withdrawals from gas storage as temperatures dropped below zero in Germany and elsewhere.
European LNG retains substantial premium over North Asian spot prices because of Asia’s power flexibility
European natural gas market prices remained at a substantial premium to North Asia spot LNG values, which were now even lower than the UK National Balancing Point price for November as LNG demand was very high in Europe for early winter, while Asian countries appeared comfortable with their current flows and storage as coal remained an easy option there in colder weather.
Korean steelmaker and LNG importer POSCO works on recovery after typhoon hits Gwanyang terminal area
South Korean steelmaker and LNG importer POSCO has been engaged in damage restoration work after a typhoon and was planning to re-start the Pohang steel complex as the gas-fired power plant using regasified LNG is returned to normal capacity.
Chevron temporarily closes unit on offshore platform supplying feed-gas to Wheatstone LNG plant
US energy major Chevron Corp. said it had temporarily closed a unit that separates natural gas and associated liquids at its Wheatstone LNG offshore central processing facility after finding an issue during routine maintenance.
Japanese LNG imports rise after two months of declines with more cargoes from Asia and Australia
Japanese liquefied natural gas imports increased last month after falling in the previous two months with Asian nations and Australia providing more supplies at prices down 44 percent from a year ago.
Beijing Gas maintains high revenues as profit falls amid continued LNG import terminal developments
Beijing Gas, the growing liquefied natural and pipeline supplier, maintained substantial revenues in the first half of 2020 while profits fell as the company said it was advancing its LNG import projects in Tianjin and Tangshan.
Chinese LNG imports surpass annual record in 11 months led by Qatari and Australian cargoes
Chinese LNG imports dropped last month but were higher than in the previous month with deliveries from nations such as Australia, Qatar and Papua New Guinea helping China surpass its full-year 2018 total in just 11 months.
