In December, our data showed global LNG trade had grown by 0.35mmt (1 percent) over the equivalent period in November.
Chinese state-control petrochemical conglomerate Sinopec has taken delivery of the first LNG cargo under a new long-term supply deal with Qatar on Sunday last week.
Argentina has had a somewhat troubled relationship with natural gas. However, despite its first attempt at LNG exports lasting less than a year, the country remains determined to re-enter the LNG export market, our Markets Editor Alexander Wilk reports.
With Asian markets well supplied, uncommitted LNG cargoes from the United States are increasingly travelling to Europe to capture prevailing high regional prices. Lower Russian pipeline gas supply has added to this winter’s European gas shortage with the massive Yamal-Europe trunkline flowing in reverse since mid-December to supply Poland from Germany. High prices in Europe have led to notable cargo diversions mid-voyage. Even as a wave of cargoes has quickly dampened European gas prices, they remain on a four-year high.