LNG

Japanese utility Tohoku Electric Power has signed a contract with BP of the UK for six cargoes of liquefied natural gas for early 2022 to avoid paying too high a price on the spot market and to help keep inventories at a high level this coming winter.

The value of Australia’s LNG exports is forecast to increase by around 36 percent over a two-year period to A$42.4 billion (US$31.3Bln) in 2019-20, driven by bigger volumes and higher prices as the crude oil pushes up the value of long-term contract shipments.