LNG

PetroChina International is taking final steps to conduct its first LNG bunkering operation in Singapore, chairman Wu Junli said. The trading arm of PetroChina is one of eight companies that received LNG bunker licenses from the Singapore regulator.

Shell Singapore and state terminal operator SLNG have imported and unloaded Singapore’s first internationally certified bio-LNG cargo, expanding expand the city-state’s role as a regional hub for lower-carbon marine fuels.

Through 2030, global electricity consumption will grow at least 2.5 times as fast as overall energy demand, the International Energy Agency (IEA) forecasts, with emerging Asian economies accounting for near 80% of incremental electricity and related LNG demand to fuel gas peaking power stations.

Asian LNG demand set to fall for a second consecutive year as Qatari supply disruption pushes spot prices to levels that force buyers to cut volumes and switch fuels. Wood Mackenzie forecasts Asia Pacific demand at 257 million tons (Mt) in 2026, down from 268 Mt in the previous year and a peak of 278 Mt in 2024.

Vietnam is relying more heavily on thermal coal as heightened security risks around the Strait of Hormuz adds another layer of risk for a market that is still scaling up its regas infrastructure, while the Ministry of Industry and Traded helped secure coal imports for power generation.

Alternative-fuelled ship orders declined in the first half this year, but LNG remained the dominant choice among shipowners, accounting for 73 of 137 vessels ordered, according to DNV, mainly for containerships and car carriers.

Vietnamese authorities in Nghe An province are urging PV Power to accelerate development of the $2.25 billion Quynh Lap LNG-to-power project with a view to bringing the 1,500 MW plant into operation by 2030 – even as imported fuel costs weigh on profitability.

GE Vernova has secured an order to supply two 9HA.02 gas turbines and two H78 generators for Vietnam Electricity’s (EVN) Quang Trach II LNG-fuelled power plant, a combined-cycle facility expected to generate more than 1.6 GW. The plant, located in the Hon La Economic Zone in Quang Tri Province, is scheduled to begin commercial operations by 2030.

Rising renewable capacity and cheaper batteries are weakening the investment case for LNG import terminals and gas-fired generation, with Ember signalling out China as the clearest example of that shift.

Numerous Japanese utilities have withheld full-year earnings guidance as the Middle East conflict drives up LNG costs and clouds fuel supply. Bloomberg reported that Asian LNG prices have surged 70%, exemplifying how exposed Japan’s power sector remains to the global gas market.