Kuwait seeks LNG shipments as power cuts hit the Gulf state as natural gas demand continues to rise in region
Kuwait was seeking to import more liquefied natural gas cargoes as many areas in Arabian Gulf state have been hit by power cuts as soaring temperatures pushed the electricity grid to its limits during peak operations.
US LNG data shows France and Spain leading by volumes while Calcasieu Pass cargoes were most expensive
The US Department of Energy published its latest LNG export data with France, Spain, the Netherlands, the UK and South Korea and Japan being the main destinations while prices for that period began to rise and shipments from Calcasieu Pass were the most expensive.
Global LNG prices plunge as oil drops $10 a barrel to raise demand doubts and ship spot charter rates tumble
European and Asian liquefied natural gas prices dropped with the February 2024 Japan-Korea Marker for North Asian spot cargoes being the highest in the complex as vessel charter rates plunged in a week when oil also lost $10 a barrel and European Union natural gas storage was full and temperatures were mild for the time of year.
European and Asian LNG prices fall again amid EU storage build and highest cargo volumes yet for Germany
European and Asian liquefied natural gas prices and wholesale values fell again as European Union gas storage continued its early build while Germany and China were receiving more cargoes.
European gas and LNG prices drop as demand weakens again while Asian spot cargo values fall at slower pace
Europe’s natural gas and LNG markets suffered another price fall on the week of 5.8 percent amid mild winter weather as the Japan-Korea Marker price for spot cargoes extended its front-month premium to $5.65 per MMBtu over European Union values.
Steady EU LNG values stay ahead of Asia spot cargo prices as liftings rise with one-year charter rates
European wholesale natural gas and LNG values stayed ahead of still elevated North Asian spot prices while worldwide cargo liftings gathered pace as one-year carrier charter rates increased for West and East of Suez.
Asian and European LNG cargo values stay at seasonally record high levels as liftings drop and charter rates rise
Prices remained strong in the liquefied natural gas spot cargo market as liftings from global export plants fell to their lowest level of 2022 and shipping charter rates jumped amid continued seasonally record high cargo values in Asia and Europe.
European and Asian LNG prices lose traction with oil after record week as supply concerns seen overdone
European and Asian liquefied natural gas prices lost their traction for April and May as they slipped by more than 30 percent on the week with demand being less than expected as the Northern Hemisphere winter season approaches its end amid steady cargo supplies in a market still focused on the Ukraine crisis.
Demand for LNG remains high with cargoes pointed at Asia and South America and spot values over $13.00
Demand for liquefied natural gas remained firm worldwide along with seasonally high Asian spot prices over $13.00 per million British thermal units for September and with deliveries to China, Japan and South America still being preferred to European destinations.
Kuwait to be centre of increasing LNG imports as large onshore terminal continues commissioning
Kuwait Integrated Petroleum Industries Co. (KIPIC) has unloaded its first liquefied natural gas shipment at the Arab state’s onshore Al-Zour import terminal, the largest in the Middle East, and constructed to provide fuel and power to the refining and petrochemicals industries.
