Asia

Chaos reigned in the global commodity markets Monday as Russia’s attack on Ukraine intensified, sending European natural gas futures to record highs and Brent crude to levels not seen in 14 years.  Russian President Vladimir Putin said Saturday that the West’s sanctions – which for now have exempted energy exports – were “akin to a…

Spot prices for liquified natural gas (LNG) to be delivered to Asia have taken a volatile swing upward as buyers prepare for a potential tug-of-war with a European continent struggling through a major gas crunch and impacts from the Ukrainian conflict. Spot Japan-Korea Marker (JKM) prices were assessed at a record $59.672/MMBtu Thursday before taking…

Despite increasing efforts by major energy consumers to replace coal with cleaner fuels, volatile prices for other commodities like liquefied natural gas (LNG) have helped keep coal competitive for leading suppliers. In the latest case of high gas prices creating a boon for coal suppliers, Glencore plc reported Tuesday that 2021 brought overwhelming results for…

Spark Commodities reported its first ever negative spot liquefied natural gas (LNG) freight rate on Tuesday as a glut of tankers in the Atlantic Basin that are moving cargoes faster to Europe has dragged down rates. Spark assessed Atlantic Basin rates at minus $750/day, reflecting what CEO Tim Mendelssohn said is an increase in vessel…

A roundup of news and commentary from NGI’s LNG Insight Europe imported a record 11.6 million tons (Mt) of LNG in January, according to Kpler. Higher prices, short supplies, colder weather and rising geopolitical tensions between Russia and Ukraine pulled cargoes away from Asia toward the continent. LNG imports were 4.5 Mt in January 2021.…

European natural gas prices declined again Tuesday despite geopolitical tensions between Russia and Ukraine, which showed no signs of relenting. Mild weather and strong wind output also dragged down prices Monday, reversing last week’s gains that came as the market baked in the risk to European supplies from a broader conflict between Russia and Ukraine.…

Stronger commodity prices and sizable mergers helped two of Asia’s biggest liquefied natural gas (LNG) suppliers, Woodside Petroleum Ltd. and Santos Ltd., end 2021 with ballooning sales revenues. Both Australian companies built on the momentum of a stronger than expected 2020 by capitalizing on the market fluctuations of 2021, cashing in big at the end…

Natural gas and oil resources can be produced in many areas today at lower than current breakeven commodity prices, allowing operators to develop their portfolios and haul in strong cash flow, Chevron Corp. CEO Mike Wirth said Friday. Wirth and CFO Pierre Breber held court with financial analysts to discuss the quarterly and full-year 2021…

European natural gas prices surged Monday as the supply concerns that have plagued the market this winter are deepening amid ongoing tensions between Russia and Ukraine. The Title Transfer Facility (TTF) gained across the curve, moving higher along with the Japan-Korea Marker (JKM). Buyers in Asia are slowly returning to the spot market. Additionally, two…