china

Typhoon In-fa Squeezing LNG Supply in China — The Offtake

A roundup of news and commentary from NGI’s LNG Insight Typhoon In-fa was moving over Japan’s southern islands Friday ahead of a projected landfall in China Sunday or Monday in Zhejiang. Bloomberg reported that gas distributor ENN Group Co. Ltd. had to halt LNG truck deliveries from its Zhoushan terminal Friday due to the typhoon’s…

July 23, 2021
LNG Trading Continued to Drive Gas-on-Gas Competition Last Year, IGU Says

LNG Trading Continued to Drive Gas-on-Gas Competition Last Year, IGU Says

Natural gas buying at prices linked to dominant benchmarks like Henry Hub, the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF) increased last year, again taking share from deals linked to oil-indexed contracts, according to the International Gas Union (IGU).  Gas-on-gas (GOG) competition’s share of the global market last year reached 49.3%,…

July 8, 2021
Qatar Inks SPA with Shell to Expand LNG Supply to China

Qatar Inks SPA with Shell to Expand LNG Supply to China

Qatar Petroleum (QP) has inked another long-term sales and purchase agreement (SPA) to supply Royal Dutch Shell plc with 1 million tons (Mt) of liquefied natural gas (LNG).  Under the deal, QP would begin providing Shell with supplies from its Qatargas 1 trains beginning in January for 10 years. Shell would then deliver the cargoes…

July 1, 2021
Huge Oil, Natural Gas Discovery Reported in China’s Tarim Basin

Huge Oil, Natural Gas Discovery Reported in China’s Tarim Basin

A China National Petroleum Corp. (CNPC) subsidiary has made a giant oil and natural gas discovery totalling an estimated 1 billion tons of reserves in the prolific Tarim Basin in northwestern China, according to reports. “This has been the largest discovery of oil exploration in the Tarim Basin in the recent decade,” Tarim Oilfield Co.’s…

June 24, 2021
European Natural Gas Prices Hit Highest Level in Over a Decade — LNG Recap

European Natural Gas Prices Hit Highest Level in Over a Decade — LNG Recap

Hot weather and limited supplies helped drive European natural gas prices to a 12-year high late last week in a rally that continued Monday. The prompt Title Transfer Facility (TTF) contract closed Friday at $10.237/MMBtu and finished higher on Monday at a level not seen since 2008. European gas prices have been strong since the…

June 21, 2021
Supply Issues, Strong Demand Push Natural Gas Prices Higher in Asia, Europe — LNG Recap

Supply Issues, Strong Demand Push Natural Gas Prices Higher in Asia, Europe — LNG Recap

European and Asian natural gas prices are recovering from last week’s losses as supply concerns and strong buying have spurred gains so far this week.  In Europe on Tuesday near-curve prices closed higher for both the Title Transfer Facility and National Balancing Point contracts through August.   Russian gas giant Gazprom PJSC reportedly did not take…

May 25, 2021
BP Giving Chinese Customers Direct Link to LNG Imports

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…

January 26, 2021
Energy Transfer Texas Terminal Exports First Very Large Ethane Carrier

Energy Transfer Texas Terminal Exports First Very Large Ethane Carrier

The first very large ethane carrier (VLEC) has been exported from Energy Transfer LP’s (ET) Nederland Terminal in East Texas loaded with more than 911,000 bbl of ethane destined for northeastern Jiangsu Province, China. Dallas-based ET said the VLEC was loaded by Orbit Gulf Coast NGL Exports LLC, its joint venture with Satellite Petrochemical USA…

January 20, 2021
Trucked LNG Prices Spiked in China as Cold Gripped Region in December, Says Wood Mackenzie

Trucked LNG Prices Spiked in China as Cold Gripped Region in December, Says Wood Mackenzie

Cold weather and a scramble to secure natural gas supplies in Asia are impacting more than only power generators, as spot prices for trucked liquefied natural gas (LNG) in China skyrocketed last month, according to Wood Mackenzie.  The consultancy said spot prices in the LNG transport space nearly doubled in only three weeks in the…

January 13, 2021
Eni Strikes Agreement with China to Cooperate on Energy Transition

Eni Strikes Agreement with China to Cooperate on Energy Transition

Italian supermajor Eni SpA has signed a memorandum of understanding (MOU) with China to better cooperate on energy issues as both the company and country are targeting ambitious decarbonization goals in the coming decades. Eni, which has been working in China since the 1980s, said it signed the MOU with China’s International Cooperation Center of…

January 5, 2021
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