A roundup of news and commentary from NGI’s LNG Insight
- Australian Securities Exchange: Trading of LNG Ltd. shares halted Wednesday. Company made request pending announcement by March 20. LNG is developing export terminals in the U.S. and Canada. Has takeover offer from private Singapore-based firm.
- Department of Energy: U.S. LNG exports increased 13.3% month/month in January to 249.5 Bcf. Top-five destinations included: South Korea (44.3 Bcf), Turkey (32.6 Bcf), Japan (32.0 Bcf), UK (30.4 Bcf) and Spain (24.4 Bcf).
- Fearnleys AS: China is likely to need higher LNG imports in the short-term as country begins coronavirus recovery and industrial demand increases.
- “This could see growth in spot opportunities over the next couple of months,” said Norwegian ship broker. “One growing concern, though, is that with China now appearing to recover from Covid-19, could we see the country impose restrictions on inbound trade from regions with ongoing infections?”
- Total SA announces “encouraging discovery” of natural gas, condensate and light oil from well offshore UK in the North Sea, where major sources of European supply have dwindled. “The analysis of the data and results are ongoing to assess the discovered resources and to determine the appraisal program required to confirm commerciality,” company said.