Markets fear ripple-effects of Ras Laffan LNG’s loss of 12.8mt
Global LNG buyers fear far-reaching ripple effects of the loss of 12.8 million tons, or 17% of Qatari LNG after force majeure was declared on Ras Laffan Trains 4 and 6, with repairs taking three to five years. Markets see quite a bit of anxiety” from buyers in Japan, India, South Korea and Bangladesh which are heading up to buy spot cargoes, Poten & Partners’ senior LNG analysts Irwin Yeo observes.
American Bureau of Shipping opens ABS Global LNG Academy in Qatar to train mariners in modern vessel operations
The American Bureau of Shipping, the US maritime classification society, has inaugurated an ABS Global LNG Academy in the Qatari capital Doha and dedicated to training and educating mariners in modern LNG vessel operations.
Gastech hears of LNG growth plans by China as well as Japan and bunkering progress of Singapore
One of the main sessions of the Gastech Virtual Summit as it wound down after five days was a discussion of Asian LNG demand where Japan will develop new small-scale facilities, China is on a steady upward path for cargo imports and Singapore is determined to lead the field in LNG bunkering.
BGC Partners of US acquires Poten brokerage to boost its LNG and consultancy businesses
BGC Partners of the US, a leading global brokerage and financial company, has completed the acquisition of Poten and Partners Group, a ship brokerage, consulting and business intelligence firm specialising in LNG, tankers and the liquefied petroleum gas markets.
US report notes how shorter LNG contracts and reduced volumes may raise future concerns
The continuation of a trend towards smaller volumes and shorter tenures for liquefied natural gas supply contracts highlights the growing commoditization of the global LNG market even as it raises troubling questions about future supply, according to a US analysis.
