china

China Assumes Role of Swing Player With Surplus Natural Gas Inventories

China Assumes Role of Swing Player With Surplus Natural Gas Inventories

China, the world’s largest buyer of LNG,  is reselling the super-chilled fuel to Europe and Asia as an economic slowdown and a boost in Russian gas supplies have created surplus inventories.  In 2021, Chinese gas demand grew at the fastest rate on record, when year/year imports increased by 19.9%, according to the Middle East Institute…

September 14, 2022
OPEC Downgrades Crude Demand Outlook; IEA Says Gas-to-Oil Switching Impacts Forecast

OPEC Downgrades Crude Demand Outlook; IEA Says Gas-to-Oil Switching Impacts Forecast

Oil demand shows signs of waning as the global economy slows, bringing the world crude market close to balance, OPEC officials said Thursday in a new outlook. The Saudi Arabia-led cartel cut its world oil demand outlook by 260,000 b/d from an earlier forecast to about 100 million b/d for 2022. It held its expectation…

August 11, 2022
Gazprom Natural Gas Production Drops Sharply as Russia Squeezes European Supplies

Gazprom Natural Gas Production Drops Sharply as Russia Squeezes European Supplies

Gazprom PJSC’s natural gas production has dropped 10.4% since January, dragged down by a steep cut in pipeline exports to Europe, which have fallen by 33.1% so far this year. The company has boosted exports to China.  Russia produced 249.7 billion cubic meters (Bcm) between Jan. 1 and July 15, down by 29.1 Bcm compared…

July 27, 2022
Chinese LNG Imports to Tumble 14% By Year’s End, Says Wood Mackenzie

Chinese LNG Imports to Tumble 14% By Year’s End, Says Wood Mackenzie

Global energy researchers are forecasting China, the world’s largest LNG importer, is on track to record the largest year-to-year drop in volumes since it started importing the super-chilled gas. Citing unprecedented liquefied natural gas market volatility and inflationary pressure, Wood Mackenzie recently predicted China’s imports would drop 14% by the end of the year. That…

July 21, 2022
Shell Signs Binding Offtake Agreement for Mexico LNG Terminal

Shell Signs Binding Offtake Agreement for Mexico LNG Terminal

A unit of Shell plc has signed a sales and purchase agreement (SPA) for 2.6 million metric tons/year (mmty) of offtake from Mexico Pacific Ltd. LLC’s (MPL) LNG export terminal on Mexico’s Pacific Coast. Envisioned for Puerto Libertad in Sonora State, the terminal’s first two trains would have a combined liquefaction capacity of 14.1 mmty,…

July 12, 2022
Mexico’s AMLO Meets With U.S. Energy Companies, Says LNG Projects Advancing

Mexico’s AMLO Meets With U.S. Energy Companies, Says LNG Projects Advancing

Mexico President Andrés Manuel López Obrador last week touted progress on numerous private and public sector energy projects under development in the country. On Thursday, the administration concluded meetings with 16 U.S. energy companies to discuss “matters of electricity as well as oil and gas,” the president told reporters during his morning press conference.  Among…

June 8, 2022
Energy Transfer Signs Another Lake Charles LNG Supply Deal with Chinese Utility

Energy Transfer Signs Another Lake Charles LNG Supply Deal with Chinese Utility

Energy Transfer LP (ET) said Monday it has agreed to supply a Chinese utility with 0.7 million metric tons/year (mmty) of liquefied natural gas (LNG) from its proposed Lake Charles LNG export terminal in Louisiana.  The 25-year deal between Energy Transfer LNG Export LLC and a subsidiary of China Gas Holdings Ltd. is the fifth…

June 6, 2022
High Natural Gas Prices Have Asian Buyers Still Reticent Despite European LNG Slowdown

High Natural Gas Prices Have Asian Buyers Still Reticent Despite European LNG Slowdown

The wave of liquefied natural gas (LNG) cargoes headed to Europe has started to slow as storage on the continent rises, but there are signs that extreme prices could be delaying an anticipated ramp up from Asian buyers. Instead, more volumes of LNG have been steadily heading to destinations like Brazil, according to research from…

June 3, 2022
Asian LNG Demand Continuing to Fall, as More Cargoes Head to Europe

Asian LNG Demand Continuing to Fall, as More Cargoes Head to Europe

Liquefied natural gas (LNG) demand across Asia has weakened considerably in recent weeks, dragging down forecasts for global consumption this year and leaving less competition for European buyers eager to displace Russian energy supplies. “We are entering into negative territory,” said analyst Gergely Molnar of the International Energy Agency (IEA). The global energy watchdog expects…

April 21, 2022
Could Russia Look to China to Export More Oil and Natural Gas?

Could Russia Look to China to Export More Oil and Natural Gas?

Russian natural gas could increasingly find a home in China as the countries have strengthened ties in a way that could undermine some of the West’s economic sanctions and lessen the blow of Europe’s move away from imports..  “China is in a difficult position,” geopolitics energy specialist Marco Giuli of the Brussels School of Governance…

March 9, 2022
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