Qatar is determined to re-ascend as the world’s foremost LNG producer by capacity before 2030. The country has its sights fixed on market share expansion in the Far East. However, the market is shifting and Qatar may have to adapt. Markets Editor Alexander Wilk investigates.
Imminent start-up of Nord Stream 2 is bound to lower the EU’s gas price level as Russian gas costs nearly half of what buyers have to pay for LNG. Fears about possible delays of the second Baltic Sea interconnector, however, made prices at the Dutch TTF gas trading hub break through the €40/MWh mark as both Europe and Asia turn to LNG to replenish gas storage prior to next winter. Markets editor Anja Karl has more.
The tenure of long-term LNG Sales and Purchase Agreements (SPAs) has decreased materially in recent years, down from around 20 years to currently 10 years or less. International law firm White & Case’s Asia-based lawyers Tim Fourteau, Alex Woody and Yun Yong say one reason behind this trend is the growing role of traders and aggregators, who closed around half of the 10-year SAPs in 2021.
July saw broadly steady LNG flows for the month due to higher Australian, US and Qatari LNG exports and strong demand in South Korea, Japan and Kuwait. Meanwhile, year-on-year performance was up, our Markets Editor Alexander Wilk reports.
AIR PRODUCTS is to supply the main cryogenic heat exchangers (MCHEs) and the process technology for both liquefaction units for the Nigeria LNG (NLNG) Train 7 project.
An agreement was recently signed with SCD JV Scarl, a joint venture of Saipem, Chiyoda and Daewoo, for the supply of equipment for the project.
The Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) are prompting LNGC owners and charterers to think fast and make operational technical changes sooner than otherwise planned. Vassilios Dimoulas, Bureau Veritas (BV) Marine & Offshore Technology & Innovation Manager for Greece, Cyprus, and Malta, explains.