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Asian LNG buyers continue to snap up cheap cargoes as a mild winter in Europe has left storage inventories there high and more vessels are diverting to the region. But as spot prices move higher, buying activity is already slowing.  As temperatures have increased in the last week in North Asia, “we seem to be…

China imported nearly 13% more LNG in the first two months of the year compared to the same time in 2023 as lower spot prices have encouraged Chinese buyers to close more deals.  China’s imports of the super-chilled fuel reached 14.03 million tons (Mt) in January and February, up from 13.50 Mt during the same…

Global natural gas prices oscillated on Monday as the market reacted to supply outages in the United States and Europe. Feed gas deliveries to the Freeport LNG export terminal on the upper Texas coast sank over the weekend. The facility is scheduled this week to restart a train that went offline in January. NGI data…

Negotiations between Russia and China over the Power of Siberia 2 (POS 2) pipeline, which would further link the countries, have shown no signs of gaining traction.  Although Moscow is eager to close the deal, disagreements over pricing, tariffs, taxes, financing and the pipeline route may make it difficult for the project to meet its…

Global natural gas demand is set to rise by 2.5% or 100 billion cubic meters (Bcm) in 2024 versus 2023, likely accompanied by increased price volatility, according to the International Energy Agency (IEA). This compares to a demand increase of 0.5% recorded in 2023, the global energy watchdog said in its latest quarterly Gas Market…

The United Arab Emirates’ (UAE) Adnoc has inked its first tentative agreement for a proposed low-carbon LNG terminal with one of China’s largest private energy groups. A unit of ENN Energy Ltd. inked a heads of agreement for 1 million metric ton/year (mmty) in offtake from the Ruwais liquefied natural gas project planned in the…

Global natural gas prices continued their spiral Monday as weather patterns across the Northern Hemisphere again shifted warmer, preserving ample stocks and further easing supply concerns.  In Europe, the prompt Title Transfer Facility (TTF) contract slid 6.4% on Monday to close near $11/MMBtu. The contract dipped 4.3% last week despite an agreement among lawmakers late…

China Petroleum and Chemical Corp. (Sinopec) is growing its supply and equity position in Qatar’s massive LNG expansion projects with an additional agreement inked with QatarEnergy. State-owned Sinopec, one of the world’s largest liquefied natural gas importers, disclosed it has signed a 27-year sales and purchase agreement for 3 million metric tons/year from QatarEnergy’s North…

The Panama Canal Authority said this week that it would reduce the number of vessels that can transit the waterway from 32 to 25 on Nov. 3. Daily transits would be further cut to 24 on Nov. 8, 22 on Dec. 1, 20 on Jan. 1 and 18 on Feb. 1.