UK concludes offshore bidding round with 115 bids from 76 companies to help offset LNG and pipeline imports
The UK’s North Sea Transition Authority (NSTA) has concluded its offshore bidding round for oil and gas exploration and production licences as the nation reaches a crisis point in securing future energy needs amid rising deliveries of imported LNG as well as pipeline gas volumes from Norway.
Cargo liftings rise while Asian and European prices lose steam amid Covid-19 curbs at Chinese LNG hubs
Liftings of liquefied natural gas cargoes increased while North Asian spot futures prices slumped by between 15 percent and 30 percent for March and April deliveries as major Chinese LNG importing hubs, Tianjin and Dalian, imposed strict Covid-19 curbs while European benchmarks also dropped.
LNG plants send out steady flow as optimism grows for long-term oil-linked prices and demand outlook
Global liquefied natural gas plants dispatched a steady flow of cargoes as North Asia spot prices slipped on the week, though were offset by expectations of long-term LNG contract prices increasing after the North Sea Brent crude oil price hit its highest level in a year.
