China’s LNG imports in Jan-Feb soar to records as prices decline and economy shows signs of recovery
Chinese liquefied natural gas imports for the two-month January-February 2024 period soared by more than 23 percent from a year earlier as prices declined and demand grew during a time that encompassed the Lunar New Year holidays in China.
Russian LNG exports to Europe and Asia decline slightly while Russia’s oil deliveries are still much in demand
Exports of Russian liquefied natural gas cargoes from the Yamal plant in northern Siberia and the Sakhalin plant in Russia’s Far East declined only slightly in the past year as Moscow also adapted its oil export policies under the OPEC+ regime as well as to cope with Western sanctions over Ukraine.
Russian developer of Arctic LNG II project to delay cargo supplies to several contract holders based in China
Novatek, the Russian developer of the Arctic LNG II project on the Gydan Peninsula, has declared “force majeure” to some of the buyers of cargoes based in China because of delays in the start-up of the facility.
Gazprom outlines plans for more Russian LNG liquefaction for bunkering and foreign and domestic sales
Gazprom, the Russian pipeline natural gas giant and LNG producer, said it was working to boost liquefaction capacity at various sites to match the Sakhalin LNG export plant in the Far East, particularly at the Ust-Luga plant in the Gulf of Finland.
Japanese LNG imports drop again even with lower prices as storage is high and more nuclear plans advance
Japanese liquefied natural gas imports dropped again last month as storage increased and North Asian prices declined with thermal coal deliveries also plunging while nuclear plant usage is increasing.
Russian Vladivostok forum hears Asian export plans for Arctic LNG II and about re-start of Sakhalin LNG plant
Russian natural gas company Novatek has plans to start commercial shipments from the Arctic LNG II project in mid-January 2024 and would likely send three to five cargoes per month eastwards to the Asian market, including China, while Russia’s Sakhalin LNG plant in the Far East has re-started after scheduled maintenance.
Russian company Novatek holds ceremony for launch of first LNG production platform for Arctic LNG II
Russian natural gas company Novatek has held a ceremony with the Russia’s government to mark the launch of the first modular liquefaction Train onboard a gravity-based structure at an assembly yard in the Murmansk region and set to be towed to the Gydan Peninsula project site on the Gulf of Ob in Western Siberia.
Japanese LNG imports plunge with more cargoes in storage and competition from thermal coal and nuclear
Japanese liquefied natural gas imports plunged by more than 20 percent in June from the same month last year while half-year imports fell 13 percent with more competition coming from thermal coal and nuclear and more gas storage being built earlier in 2023 as prices declined.
Storage vessel for Russian LNG trading arrives off Murmansk as Yamal LNG shuts Trains for maintenance
A huge floating LNG storage unit, the “Saam FSU”, arrived in Russian waters off Murmansk on June 25 as LNG developer Novatek re-organizes its trading logistics for the Yamal export plant and the new Arctic LNG II project as the Yamal facility also started a shutdown and maintenance programme.
Novatek advances with Arctic LNG II start-up schedule amid equipment issues and new Russian process patent
Novatek, the Russian operator of the Yamal LNG export plant in Northern Siberia and the developer of the Arctic LNG II venture scheduled to start up in late 2023, is continuing to function despite sanctions over Ukraine and has just accepted a Russian patent for LNG processing in Arctic plants.
