Asia

Despite a slower than expected economic recovery from the Covid-19 pandemic, China gradually regained its position as the world’s largest LNG importer in July, raising the potential for a winter supply squeeze. China’s liquefied natural gas imports from the beginning of the year through July totaled 42.2 million tons (Mt), placing it around 2 Mt…

European natural gas prices fell Thursday after the dust settled from Wednesday’s rally over supply concerns tied to potential strikes at LNG terminals in Australia that are likely to keep the market more volatile until labor negotiations are resolved. The prompt Title Transfer Facility (TTF) contract closed 7% lower to finish just shy of $12/MMBtu…

European natural gas prices bounced back on Monday as competition for LNG with Asia remains strong and more Norwegian supply outages are expected this month amid another heavy round of maintenance offshore. The prompt Title Transfer Facility (TTF) contract finished 6% higher Monday to close near $10/MMBtu. TTF gained further out the curve as well,…

Asian natural gas consumption is the foundation upon which the LNG industry has been built.

Despite sweltering heat waves and a slight lift in European prices, LNG market activity is expected to remain light as buyers and U.S. producers hone in on the future supply and demand scenario. After a brief climb to almost $11/MMbtu last week, the Dutch Title Transfer Facility (TTF) dropped to $8.705/MMBtu at the end of…

European natural gas prices ticked up again on Monday despite healthy storage on the continent and an apparent lull in Asia, hinting at anxiety over falling LNG imports. Upward movement in European prices was previously expected to be limited for the rest of July after several key gas facilities in Norway wrapped up heavy maintenance…

Chevron Corp.’s legacy Permian Basin operations recorded an 11% jump in oil and gas output in the second quarter from a year ago, a new quarterly record, the supermajor said. In a preview of second quarter results, which are scheduled to be issued Friday (July 28), the San Ramon, CA-based producer said Permian output rose…

Moscow has revised its gas strategy repeatedly since western sanctions were placed on Russia last year after it invaded Ukraine, and it is counting on Asia as an export destination to replace the loss of Europe’s 150 billion cubic meter (Bcm) market. The Russian government revised pipeline export targets last month to increase deliveries to…

Australia could lose long-term LNG supply contracts with Japan under recent government policy changes over the past several months that appear to undermine the country’s natural gas industry. Under the Australian Domestic Gas SafeGuard Mechanism (ADSGM) passed earlier this year, the government is allowed to divert liquified natural gas feedstock to meet domestic demand, and…