Two of Asia’s leading liquefied natural gas (LNG) suppliers said sales jumped significantly last year despite a pandemic that curbed global energy consumption. Woodside Petroleum Ltd., Australia’s largest natural gas producer, said its annual LNG sales increased in 2020 year/year to 81.2 million boe from 75.3 million boe. Santos Ltd., the country’s largest domestic gas…
Australia
Articles from Australia
U.S. Feed Gas Deliveries Plummet on Gulf Coast Fog — The Offtake
A roundup of news and commentary from NGI’s LNG Insight Wood Mackenzie said feed gas deliveries to U.S. terminals fell by nearly 730 MMcf day/day to 8.93 Bcf on Thursday based on evening cycle nominations. The declines are concentrated at Cheniere Energy Inc.’s Sabine Pass terminal, “where heavy fog has significantly affected visibility” and disrupted…
Asia LNG Rally Continues with Cargo Bid at $26-Plus — The Offtake
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…
Australia PM Looks to Henry Hub Model to Lower East Coast Gas Prices
Australian Prime Minister (PM) Scott Morrison wants to create a transparent domestic natural gas hub along the east coast similar to Henry Hub in order to lower gas prices in the region and spur an economic recovery from the Covid-19 pandemic. The idea was among a number of measures that Morrison proposed earlier this month…
Gorgon LNG to Start Up One Train, but Shutting Down Another for Inspection, Possible Repair
Chevron Corp. plans to shutdown Train 1 at the Gorgon liquefied natural gas (LNG) plant in Australia to inspect for damage after the second train is placed back online, a spokesperson said Thursday. Chevron, which operates the three-train facility and has a 47.3% stake, is progressing on repairs to Train 2, which was shut in…
Australian Natural Gas Auctions Said Competitive Even as Bigger Players Dominate
Spot prices in Eastern Australia’s domestic natural gas auctions generally are close to marginal supply prices even though three large firms dominate the markets, according to a market expert. Regulated auctions with bids and offers set the daily prices for wholesale gas in four eastern Australian markets, with prices typically a netback to Asian liquefied…
NGI The Weekly Gas Market Report
LNG Supply Glut Likely to Outlast Demand for Years, Says IGU
Following a record year of low prices driven by increasing liquefied natural gas (LNG) production in 2019, the global supply glut is likely to persist for at least another two years, according to the International Gas Union (IGU) in its annual report this week.
NGI The Weekly Gas Market Report
Shell Sanctions Australian Natural Gas Project to Feed Domestic Demand, LNG Exports
An affiliate of Royal Dutch Shell plc has made a final investment decision (FID) to move ahead with the first phase of a multi-billion dollar project to expand natural gas production in the Surat Basin of Eastern Australia to supply domestic and export markets.
NGI The Weekly Gas Market Report
Scuttled Deal May Threaten Magnolia, Bear Head LNG Projects
LNG Ltd. (LNGL), which is developing natural gas export terminals on the Gulf Coast and in Canada, is facing a cash crunch and warned Tuesday that it might not be in business much longer after a Singapore-based company backed out of a deal to acquire it.
NGI The Weekly Gas Market Report
Scuttled Deal May Threaten Magnolia, Bear Head LNG Projects
LNG Ltd. (LNGL), which is developing natural gas export terminals on the Gulf Coast and in Canada, is facing a cash crunch and warned Tuesday that it might not be in business much longer after a Singapore-based company backed out of a deal to acquire it.