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…
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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,…
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…
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…
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…
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…
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…
Russia’s Plans to Send More Natural Gas to China by Pipeline Could Cut LNG Demand
Russian state-owned Gazprom PJSC’s latest 30-year supply deal with China National Petroleum Corp. (CNPC) for 10 billion cubic meters (Bcm) per year via a new pipeline, the Far Eastern route, could eventually increase Russia’s capacity to China by 48 Bcm/year and impact China’s future demand for liquefied natural gas (LNG). The deal comes at a…
U.S. Could Pass Australia, Qatar as Top LNG Exporter, Says IHS Markit
The United States has the potential to be the world’s largest liquified natural gas (LNG) exporter in 2022, according to new analysis, boosted by swelling supplies and growing LNG terminal capacity. In a new report by researchers at IHS Markit, the United States could jump from the third largest exporter in 2021 to the top…
China Surpassed Japan as World’s Biggest LNG Importer Through October
China became the world’s largest liquefied natural gas (LNG) importer during the first 10 months of 2021, according to data from government agencies. The U.S. Energy Information Administration (EIA) said China’s LNG imports averaged 10.3 Bcf/d between January and October – a 24% increase over the same period last year. Japan, which for decades had…