Viva Energy gets federal nod for Geelong FSRU in Victoria
Australian developer Viva Energy has received federal environmental approval for its proposed floating LNG import terminal at Geelong, deemed vital to offset declining domestic gas production in Victoria.
Panic LNG buying may trigger ‘vicious feedback loop’
Southeast Asian countries with historically low gas storage levels have resorted to panic buying of spot LNG cargoes. Analysts warn a “vicious feedback loop” could weaken domestic purchasing power and further exacerbate energy price inflation.
Disruptions to Qatari LNG may ease by end-April
QatarEnergies is working towards restarting some LNG trains at Ras Laffan, as shipping disruptions are anticipated to ease by the end of April. If the Strait of Hormuz remains closed until July or beyond, however, analysts reckon prices at the Dutch TTF gas trading hub would need to rise to well above 2022-levels for Europe be able to refill storages.
LNG shipments to Asia fall to six-year low
The 30-day moving average of LNG shipments to Asia has fallen below 600,000 metric tons over the weekend – the weakest pace of arrivals in nearly six years, Bloomberg ship-tracking data shows. The decline reflects constrained vessel movements through the Strait of Hormuz and higher freight costs.
TC Energy CEO urges Canada to seize time-bound LNG opportunity
Canada must mobilise $500 billion in energy infrastructure by 2030 to capture a “generational, time-bound opportunity” in global LNG exports – or lose out to rival US developers, said TC Energy CEO François Poirier.
US shale output surges on Qatar LNG disruption
Shale gas production in the US is projected to surge by up to 40% as American supply fills the gap caused by force majeure on Qatari LNG shipments. Analysts expect US LNG to double, exceeding 30 billion cubic feet per day (bcf/d) by 2050.
Vietnam shifts from LNG-fuelled power to RES-plus-battery
Vietnam’s Vingroup has proposed dropping plans for what would have been Vietnam’s biggest LNG-fired power plant and replacing it with a renewable-plus-battery project. The 4.8 GW Hai Phong LNG-to-power project could be abandoned over high fuel costs.
Shizuoka Gas invests in EIG’s MidOcean LNG platform
Japanese city gas supplier Shizuoka Gas will invest $100 million in MidOcean Energy, the LNG platform backed by US infrastructure investor EIG, building on Idemitsu Kosan’s $500 million commitment as oil refiner aspires a “full-scale entry into the LNG business.”
Delphin LNG to take FID in next few weeks
Delfin LNG is about to close financing on its 13.2 mtpa floating LNG project offshore Louisiana. Vitol’s head of investment, Eduard Ruijs, said a final investment decision (FID) on the project is expected “in the next few weeks, or at most months.”
TTF prices to near €100/MWh if Qatari LNG halt lingers on
Gas prices at the Dutch TTF, Europe’s benchmark gas trading hub, could average €90-100 per Megawatt-hour (MWh) if the shut-in of Ras Laffan and suspension of Qatari LNG shipment continues for the next three months, an analysts’ poll finds.
