BP 2024 Energy Outlook gives double forecasts for LNG demand and trading activities in Europe and Asia
The BP 2024 Energy Outlook said that liquefied natural gas demand would grow robustly in the near term, driven by increasing needs in emerging economies in Asia as well as in the regional economic powerhouse China.
Australia government report expects rise in Asian LNG demand led by Chinese gas market dynamics
Australia said that liquefied natural gas demand is expected to increase by just under 2.5 percent in 2024, largely driven by the needs of customers in Asia-Pacific nations and by market dynamics in China.
Asian LNG prices edge higher as cargoes flow East and European gas values weaken on strong storage builds
The number of liquefied natural gas cargoes pointing at Asian import terminals and being delivered this week increased as prices also edged higher while European natural gas benchmark values declined as storage levels roseacross Europe.
European Union LNG market report by EU agency for energy regulators says LNG imports may be near peak
The latest European LNG Market Monitoring Report (MMR) has analysed global and European Union market developments and has recommended further actions to improve transparency, competition and flexibility at European LNG terminals.
Australian revenues from LNG exports to fall as prices start to ease while coal demand in Asia remains high
Australian liquefied natural gas export revenues hit a record high of A$93 billion (US$60Bln) in the 2022-2023 fiscal year but are forecast to ease to A$71Bln in the current year as the spike in global energy prices set off by the Russia-Ukraine war unwinds.
Turkish LNG importer and gas grid operator BOTAS raises prices by 20 percent for industry and power stations
Turkey, an LNG importer and with plans to increase domestic production from Black Sea fields and the main route to Europe for natural gas from Azerbaijan, has raised the prices of natural gas and power by 20 percent for industrial users amid energy secuirty concerns in the South Caucasus region bordering Eastern Europe.
Enagás opens second phase to June 30 of El Musel LNG capacity allocation as 16 companies express interest
Enagás, the Spanish gas grid and terminals operator, is set to begin the second phase of the capacity allocation process, or open season, after interest expressed by 16 trading companies for Spain’s El Musel liquefied natural gas re-loading facility in northern Spain set aside for the European Union.
European Commission moves again to stop Russian LNG as first EU joint gas tender deemed a success
The European Commission said it was again pursuing plans to end Russian liquefied natural gas supplies being sold in the European Union and has asked the 27 member states not to sign any new supply contracts.
Enagás starts process of assigning logistics services and launching open season for El Musel LNG terminal
Enagás, the Spanish gas grid and LNG terminals operator, has held an event for marketers and the regulatory authorities at its headquarters in Madrid where it revealed plans to launch an open season on March 6 for logistics services at the re-activated El Musel import terminal in Northwest Spain on the Bay of Biscay.
Wood Mackenzie reports higher storage amid heating demand surge in Europe and 2023 LNG price softening
Wood Mackenzie, the UK energy consultants, said colder temperatures across Europe had increased month-on-month heating demand by 20 percent in December and forecast a softening of LNG prices in 2023.
