Asia

Snow and bitter cold from Europe to North Asia, which has pushed liquefied natural gas (LNG) and electricity prices to record-setting highs, hasn’t eased as the rally stretches into another week. Winter weather has combined with supply outages and shipping constraints in recent weeks to create a historic stretch for the global gas market. Temperatures…

Global natural gas prices continued a relentless move higher on Friday, as spot prices in Spain shattered records and all-time highs in the northern Asia market showed no signs of slowing amid a cold snap and supply crunch supporting the bullish run.  In Spain, a major gas-consuming country that hosts more liquefied natural gas (LNG)…

A roundup of news and commentary from NGI’s LNG Insight Trafigura Group Pte. Ltd. has reportedly bid $26.15/MMbtu for an early February LNG cargo delivery to South Korea. The trading firm has reportedly bought cargoes on the Asian spot market at $21.70 and $20.80 in recent days for February delivery, shattering previous Japan Korea Marker…

Liquefied natural gas (LNG) prices continued to set records in North Asia on Wednesday as buyers scrambled for prompt cargo deliveries amid a supply shortage and cold snap. Trafigura Group Pte. Ltd. purchased a cargo from PetroChina Co. Ltd. at $21.70/MMBtu for delivery to China early next month. The transaction was above the previous high…

Increased U.S. liquefied natural gas (LNG) exports to Asia this winter have driven LNG vessel spot charter rates to two-year highs of $130,000/day, according to an analyst at shipbroker Poten & Partners. “It is clear that the U.S. is the swing supplier for the LNG market,” said Poten’s Jefferson Clarke, head of LNG shipping analytics,…

Asian liquefied natural gas (LNG) spot prices are at two-year highs and are projected to remain strong enough next summer to prevent significant cancellations of U.S. LNG cargoes in 2021, BofA Global Research analysts said. Projected U.S. LNG export arbitrages for next summer are now positive, in the range of $0.75-$1.00/MMBtu, the analysts said in…

Natural gas prices and renewable energy capital costs will determine the future electric generation mix in Asia, the continent that’s expected to account for half of the world’s energy consumption by 2050, according to the Energy Information Administration (EIA). EIA released its projections for the Asian energy market Wednesday as part of its updated International…

The heightened uncertainty plaguing gas markets so far in 2020 because of Covid-19 is expected to carry through the winter season, but a bright spot is emerging for the United States as liquefaction is expected to resume full operations by November with growing demand in Europe and Asia. In a webinar Thursday discussing the outlook…

Feed gas deliveries to U.S. liquefied natural gas (LNG) export terminals hovered near a three-week high on Thursday in a bright spot that’s likely to be short-lived as pain continues throughout the global market and American cargoes have largely been priced out of Europe where headwinds are keeping prices flat.  The continent has been the…