In this issue

 

Our Europe editor Chevron Corp. has started natural gas and oil production from an offshore field that spans the national boundaries for the first time of two African nations, one…
South African energy producer Sasol has jumped into the Mozambique LNG feed-gas equation by securing an exploration block shareholding with Italian energy producer Eni and others in a new bid…
Wison Offshore and Marine, the Chinese shipbuilder involved in LNG projects at its Nantong shipyard, has secured 4 billion Yuan ($630 million) financing from China Minsheng Bank.
Our Europe editor Royal Dutch Shell's second liquefied natural gas-powered offshore supply vessel "Harvey Power" has taken to the water in the US Gulf of Mexico and will serve platforms…
Crowley Maritime Corp., the US shipping line, held a naming ceremony on November 3 for the first of four new Jones Act oil products tankers with liquefied natural gas conversion…
The American Bureau of Shipping, the US classification society, was selected to class an LNG bunker barge under construction at a Texas shipyard that will be used to refuel ocean-going…

News Nudges

China LNG index down

China's import price index for liquefied natural gas dropped last week, according to data from the Shanghai Petroleum and Natural Gas Exchange (SHPGX). The LNG index is for delivered cargoes, not including tax. The most recent quote for Cost, Insurance and Freight (CIF) delivered cargoes was given as 2,504 yuan ($353) per tonne, or $6.84 per million British thermal units, compared with the previous week’s price of 2,894 yuan ($408) per tonne, or $7.91 per MMBtu. The index, jointly developed by a monitoring centre under the General Administration of Customs and the SHPGX, was launched on October 16, 2019, and offers CIF cargo price guidance for Chinese importers.


Asian spot’s sign of life

Asian LNG spot prices in the form of the Japan-Korea Marker from Platts are showing signs of partial recovery with the June cargoes edging higher to $2.115 per million British thermal units and July cargoes at $2.450 per MMBtu. The all-time JKM low was recently under $2.00 per MMBtu and traders may be heartened by the October JKM moving above $3.000 per MMBtu level and December 2020 being at $4.235 per MMBtu.


UK supply flows

Another LNG cargo will be delivered to the UK South Hook terminal in Milford Haven on May 21 onboard the 210,100 cubic metres capacity Q-Flex carrier, the “Al Safliya”, from Ras Laffan in Qatar with the UK benchmark National Balancing Point price remaining lower than the Dutch TTF at $1.50 per MMBtu last week.