In this issue

 

LNG Journal editor China Merchants Energy Shipping (CMES), the energy ship operator of the Hong Kong-based China Merchants Group, said it planned to acquire stakes in LNG vessels dedicated to…
Free ReadMSC Cruises, the Swiss-based cruise ship operator, said it signed an agreement with French shipyard Chantiers de l’Atlantique for its third and fourth LNG-powered vessels. The contract with MSC Cruises…
Market liberalization finally took place in Malaysia as well as in Thailand LNG Journal editor Increasing and new liquefied natural gas production from US and Australian liquefaction and export plants…
LNG Journal editor Noble Energy, the US exploration and production company, has explained the solid progress made by the Leviathan Eastern Mediterranean natural gas field offshore Israel since it was…
Gastrade, a Greek utility company and developer of the Alexandroupolis floating LNG terminal, has launched the second phase of a market test for the project to gauge demand in Greece…
Free ReadLNG Journal editor Pavilion Energy, the Singapore LNG and natural gas market participant, has completed the transaction to acquire portfolio of LNG and gas assets of Spanish utility Iberdrola as…
A total of 16 US states, including New York, California and Maryland are opposing proposals to transport liquefied natural gas by railcars because of what they see as the risk…
Exmar, the Belgian shipping company with more than 40 vessels in its fleet now mostly focused on the liquefied petroleum gas business, has made executive changes as it tries to…
Free ReadLNG Journal editor Gassco, the Norwegian natural gas pipeline operator and one of the main competitors to LNG, transported 106.99 billion cubic metres of gas through the pipeline systems from…
Gazoduq Inc., the Québec natural gas pipeline developer, has completed the solicitation process for non-binding expressions of interest for transportation services on its proposed 780-kilometre underground natural gas line leading…
LNG Journal editor US LNG and industrial gases company Air Products said it had made its largest investment in the United States amounting to $500 million following other recent contract…
LNG Journal editor China National Offshore Oil Corp., the owner of nine Chinese LNG import terminals and multiple oil and gas stakes, has outlined its business strategy and development plan…
Free ReadJapanese spot liquefied natural gas cargoes delivered in December cost almost $4 per million British thermal units less than the price in the same month of the previous year as…
China likely imported a record 61 million tonnes of LNG during 2019, a 13.5 percent increase on the previous year and consolidating its position as the No. 2 importer after…

News Nudges

BP deal in Guangdong

BP signed a supply agreement for regasified LNG with China’s ENN Group in support of the growing energy needs of the southern province of Guangdong. Under the terms of the agreement, BP will provide ENN with 300,000 tonnes per annum of pipeline gas regasified from LNG for a period of two years from January 2021. The LNG will be received and regasified through the receiving terminal of Guangdong Dapeng LNG where BP holds regasification capacity.


Henry Hub forecasts

The US Henry Hub natural gas spot price averaged $1.63 per million British thermal units in June, the lowest inflation-adjusted price going back to at least 1989, as a result of low demand, the Energy Information Administration said in its short-term outlook. However, the EIA expects falling production will put upward pressure on natural gas prices through the end of 2021. It forecasts that Henry Hub spot prices will average $1.93 per MMBtu in 2020 and $3.10 per MMBtu in 2021.


Charter rates steady

Shipping charter rates for LNG carriers in the spot market are little changed over the past week. Rates were quoted at an average of between $33,000 per day and $35,000 per day West of Suez and at rates of between $29,000 per day and $32,000 per day East of Suez for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters were steady for the most modern vessels and were seen at rates of around $44,000 per day.