LNG

Philippine power generators are burning less coal in the first time in 20 years as Asian spot LNG prices are down 13% year-to-date on tepid demand which makes natural gas a more competitive fuel. The benchmark Asian spot LNG price for September delivery dropped $2.70 to $12.30 per MMBtu on lacklustre demand and high stockpiles.

The parliament of Mozambique has passed an amended petroleum law that authorizes the government to create "a special regime" for LNG processing in the offshore Rovuma Basin Areas 1 and 4, where Anadarko and Eni are operating with the aim of developing LNG export terminals.