LNG cargo liftings prove buoyant in December with 438 departures as prices set to stay firm into 2021
Liftings of liquefied natural gas cargoes were buoyant during December with 438 shipments departing so far from liquefaction plants worldwide as North Sea Brent crude stayed firm, raising long-term LNG values, while North Asia spot prices were at just over $11.00 per million British thermal units for February deliveries.
Australia-Pacific LNG plant shareholder Origin Energy receives record annual cash distribution from plant
Origin Energy, the Australian utility and shareholder with China’s Sinopec and ConocoPhillips in the Australia-Pacific LNG plant in Queensland, said it received record cash distributions from the plant of A$1.275 billion (US$920.6M) in its fiscal year to June, up from A$974 million in the previous 12 months.
US natural gas prices and LNG futures recover at faster pace than Asian spot cargoes and European values
Natural gas prices and LNG cargo value indicators have been slow to gather pace in July with front-month futures and the Japan-Korea Marker price for Asian spot cargoes remaining lacklustre in contrast to more buoyant New York Mercantile Exchange US natural gas futures.
Japanese contracted spot LNG cargo prices plunged to record low of $2.20 per MMBtu during May
Japanese contracted spot LNG cargo prices for May fell to a record low of $2.20 per million British thermal compared with $5.40 per MMBtu in May 2019 amid the current over-supply and the commercial effects of the Covid-19 pandemic.
