The International Gas Union Gas said a “huge wave” of liquefied natural gas export project liquefaction capacity is currently still in the pre-Final Investment Decision stage and when given the go-ahead would provide more clean fuel especially for Asian nations.
Natural gas consumption was falling over the first months of 2020 in major markets even before the Covid-19 pandemic, mainly due to historically mild temperatures in the northern hemisphere.
The largest European LNG import terminal, the UK Isle of Grain facility located southeast of London, has launched the second phase of an on-going open season during which the market is invited to make bids with less than a month before the deadline.
Sembcorp Marine President and Chief Executive Wong Weng Sun addressed the annual general meeting teleconference to explain how the shipyard and repair business would be turned around from successive earnings losses.
The liquefied natural gas shipping market is slowly emerging from the dual shocks of Covid-19 and the oil price slump as spot prices edged higher while more Russian LNG cargoes will be heading for North Asia in June.