Shell plc has tempered its expectations for peak LNG demand over the next two decades, but the top natural gas trader still expects the current buildout of export capacity led by the United States to fall short of rising global consumption driven by Asia. In its latest liquefied natural gas market outlook, the London-based integrated…
Asian LNG
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Falling LNG Prices Again Bring Asia’s Cost Sensitive Buyers Back to Spot Market
Asian spot LNG prices reached a seven month low in January, dropping below $10/MMBtu, bringing cost-sensitive buyers like Bangladesh, India, Pakistan and Thailand back to the spot market. High gas storage levels in Europe have pushed prices there lower and prompted liquefied natural gas sellers to turn their attention to Asia. Asia-Pacific “demand will continue…
Production Hit, Heat Not Enough to Propel Natural Gas Futures, Spot Prices
Natural gas futures lost momentum on Wednesday, despite intense near-term heat and lower production estimates. Coming off an 11.7-cent gain, the August Nymex gas futures contract shed 2.6 cents day/day and settled at $2.603/MMBtu. September fell 3.3 cents to $2.585. At A Glance: 40s Bcf injection expected Production slides further Signs of strong LNG demand…
EU, Japan Agree to Natural Gas Cooperation Amid Deep Structural Market Changes
The European Union (EU) and Japan, two of the world’s largest importers of natural gas, agreed this week to strengthen energy cooperation by establishing an EU-Japan energy security dialogue focused on global LNG flows. The partnership will work to improve global security of supply, transparency of markets and reduction of methane emissions in the liquefied…
Cheniere Lands First Offtake Contract for Sabine Pass Expansion
Cheniere Energy Inc. said Tuesday that it has already signed an agreement to supply LNG from a massive expansion of its Sabine Pass liquefaction (SPL) terminal in Louisiana just two months after it kicked off the federal permitting process. CEO Jack Fusco told analysts during a call to discuss the company’s first quarter results that…
Emerging LNG Buyers May Struggle with Natural Gas Supply Costs as Import Projects Progress
New Asian LNG buyers are making forays into the spot market amid a drop in regional prices, but global volatility and the risk of more price spikes could create hurdles for government policies to reduce reliance on coal. Asian spot prices fell in February and March because of a mild winter, lower demand from Europe…
Japan, China Move to Conserve Natural Gas as LNG Price Volatility Rises
Asian countries that typically buy massive volumes of LNG are moving to build contingencies for procuring expensive cargoes and reserving excess volumes as risks of colder winter weather and continued competition with Europe sustain market volatility. Asian natural gas prices have been steadily descending for more than a week, following the Dutch Title Transfer Facility…
Philippine LNG Projects Slow Despite Strong Asian Demand
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…
COLUMN: Russia Conflict Creates Market Opportunity for Mexico LNG Export Projects
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. As part of its effort to displace Russian gas, the Biden administration has committed to sending an additional 15 Bcm of liquefied…
BP Giving Chinese Customers Direct Link to LNG Imports
BP plc has started to link downstream customers in China with liquefied natural gas (LNG) imports, creating a fully integrated supply chain in a country that continues to lead the world in energy consumption growth. The first LNG cargo delivered under BP’s new terminal usage agreement arrived over the weekend at the Guangdong Dapeng LNG…