Asia

Shell plc is shuttering the 3.6 million metric tons/year Prelude floating liquefied natural gas (FLNG) export facility offshore Western Australia, as union workers overwhelmingly rejected the London-based major’s latest offer to improve pay and working conditions.  The Offshore Alliance union told Shell that workers planned to ban mooring tankers alongside the FLNG facility, preventing the…

LONDON (ICIS) — European gas supply uncertainty has continued to push the TTF benchmark to new highs, with the ICIS TTF August ’22 contract surging to the fourth highest level ever on 6 July.

Only one of seven proposed liquefied natural gas (LNG) projects is due to start up this year in the Philippines despite decades of planning for imports of the super-chilled fuel in the country, demonstrating the challenges smaller Asian nations face in getting infrastructure built. “We see more progress on a wide range of projects, but…

High liquefied natural gas (LNG) spot prices have again pushed India, Pakistan, and Bangladesh out of the market.  As Russia’s war in Ukraine continues, and the Kremlin has limited exports, European countries have rushed to replace Russian pipeline gas with LNG imports, creating a competitive and expensive global spot market that’s made some small and…

MADRID (ICIS) – Spot LNG prices in Asia rose on 30 June but remained at a discount to the European TTF, following the highest TTF front-month price since 9 March.

News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.

European and Asian natural gas prices continued soaring higher Wednesday with the market on edge about two key supply outages in Russia and the United States. Word on Tuesday that the liquefied natural gas (LNG) terminal on Quintana Island, TX, Freeport LNG, won’t enter full service until later this year after an explosion, as well…

Last week’s explosion that knocked the Freeport liquefied natural gas (LNG) export terminal offline continued to test the global gas market Monday, as prices in the United States were down and the supply disruption combined with others to push prices higher in Europe.   Freeport LNG Development LP said it expects the terminal, which provides four…

Rates to secure vessels for liquefied natural gas (LNG) deliveries are at multi-year highs, climbing months in advance of the typical period when charterers move more aggressively to lock in ships ahead of winter demand. The trend is particularly noticeable in the Atlantic Basin, where stronger-than-normal demand in Europe is helping support rates.  “Strong demand…