Japanese LNG imports edge higher in June but six-month total of cargo deliveries show downward trend
Japanese liquefied natural gas imports increased marginally in June even at higher prices, though the half-year figures showed a downward trend for 2024.
Japanese LNG imports fall for second month as milder weather and high storage also reduce spot cargo needs
Japanese liquefied natural gas imports decreased for a second month in 2024 by almost 6 percent as milder winter weather and higher storage levels reduced cargo needs especially of more expensive spot shipments even at much lower prices.
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.
Russia’s Ukraine sanctions impact sends oil and gas revenues down while Gazprom heads for $11Bln losses
The Russian Finance Ministry said that that the federation’s oil and gas revenues decreased by 26 percent in the first 10 months of the year amid warnings that natural gas and LNG producer Gazprom was heading for record losses and another gas company Novatek faced financial disruption to its Arctic LNG II project.
Russia’s Novatek boosts second-quarter sales including LNG to the European Union as output increases
Novatek, the Russian natural gas company and operator of the Yamal LNG export plant and developer of Arctic LNG II set to start up by early 2024, has reported positive operating data for the second quarter of 2023 as it continued to supply cargoes to the European Union.
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.
Leading LNG player Mitsui confirms addition of Texas shale-gas asset to global liquefaction holdings
Mitsui & Co. of Japan, a leading liquefied natural gas market participant and trader, confirmed the acquisition of shale-gas assets in South Texas with access to LNG export plants on the US Gulf Coast.
Mitsui said it purchased a 92 percent working interest in the Eagle Ford basin assets from a subsidiary of Silver Hill Energy Partners, a private company based in Dallas, Texas.
The assets comprise 8,500 net acres known as the Hawkville field and with easy reach of the region’s LNG export cluster.
The confirmation statement from Mitsui on the acquistion did not include a value for the transaction.
“Additional gas production is expected from this asset with further development,” said the company.
The Eagle Ford acreage will be managed by a company subsidiary, Mitsui E&P USA.
“The subsidiary will develop and operate the asset, aiming for stable gas production of over 200 million cubic feet per day from the field,” Mitsui explained.
Mitsui stated that it was also promoting liquefaction and export of US natural gas to global markets and has methanol production businesses using natural gas as feedstock.
Cameron stake
It has also increased its offtake from the Cameron LNG plant in Louisiana, operated by Sempra Infrastructure, and where the Japanese company has a 16.5 percent shareholding.
However, Mitsui’s LNG assets are global with holdings in the Middle East at liquefaction plants in Qatar, Oman and the United Arab Emirates.
In Asia, Mitsui has an LNG stake in the Tangguh export project in Indonesia and is still a shareholder in the Sakhalin LNG plant in the Russian Far East.
It additionally has a stake in the oldest Australian liquefaction plant, the Woodside-operated Northwest Shelf (NWS) plant, and has an impending tolling deal at NWS using feed gas from the onshore Perth Basin in Western Australia.
“In addition to proactively pursuing upstream development projects, we will strengthen the natural gas value chain, including adjacent businesses,” Mitsui stated.
Mitsui said it believed that natural gas and LNG would play an important role as a “pragmatic solution” for the energy transition and it would continue to contribute to the stable supply of energy.
Japanese LNG imports fall as power generation demands wane with thermal coal shipments falling even more
Japanese liquefied natural gas imports dropped by 12 percent in March even as cargo numbers remained stable from Australia and Asian nations and with thermal coal shipments falling by more than delivered LNG volumes amid ample stocks and lower demand for power generation.
Dynagas LNG Partners increases annual net income from ships carrying mostly Russian LNG cargoes
Dynagas LNG Partners, the owner of six liquefied natural gas carriers and mostly involved in Russian cargo liftings, reported an increase in net income for 2022.
Japanese LNG imports drop 10 percent as coal preferred for power even at twice last year's price
Japanese liquefied natural gas deliveries declined by almost 10 percent last month even as close to record deliveries were made by Australia and thermal coal was the preferred fuel over LNG for power generation.
