japan

Mitsui’s LNG Shipping Unit Invests in Delfin LNG Project Ahead of Anticipated October FID

Mitsui’s LNG Shipping Unit Invests in Delfin LNG Project Ahead of Anticipated October FID

Delfin Midstream Inc. has finalized an investment agreement with shipping giant Mitsui O.S.K. Lines Ltd. (MOL) for its Delfin LNG export project ahead of a possible final investment decision (FID) later this year. Delfin disclosed MOL has agreed to take an undisclosed stake in the proposed Louisiana offshore liquefied natural gas project and will be…

June 12, 2023
As LNG Falls Behind in Japan, The Specter of U.S. Cargo Cancellations Looms – Column

As LNG Falls Behind in Japan, The Specter of U.S. Cargo Cancellations Looms – Column

Weak prices for spot LNG and European natural gas, coupled with high levels of floating inventory, have triggered discussion about something that was unthinkable only a year ago – the prospect of U.S. cargo cancellations.

May 31, 2023
G-7 Leaders Back ‘Important Role’ of Natural Gas in Confronting Energy Challenges

G-7 Leaders Back ‘Important Role’ of Natural Gas in Confronting Energy Challenges

Heads of state from the Group of Seven (G7) economically advanced nations emphasized the need to “accelerate the phase out of our dependency on Russian energy” in a statement this weekend at the conclusion of a summit held in Hiroshima, Japan. Stressing “the global impact of Russia’s war on energy supplies, gas prices and inflation,…

May 22, 2023
Japanese LNG Market Still Key to U.S. Gas Flows Despite Weak Demand – Column

Japanese LNG Market Still Key to U.S. Gas Flows Despite Weak Demand – Column

Japanese demand historically has been the driving force behind most LNG industry developments since its inception. Lacking domestic resources, Japan’s industrial expansion in the latter half of the 20th century was dependent upon establishing energy security through overseas procurement.

May 17, 2023
Over One-Third of CP2 LNG Capacity Under Contract After Venture Global Signs Up Jera

Over One-Third of CP2 LNG Capacity Under Contract After Venture Global Signs Up Jera

Jera Co. Inc. has signed on as an offtaker from Venture Global LNG Inc.’s CP2 export project under development in Cameron Parish, LA.  Jera, Japan’s largest power company, has agreed to buy 1 million metric tons/year (mmty) of liquefied natural gas from CP2. Jera would buy the super-chilled fuel for a term of 20-years on…

April 28, 2023
Mitsui Snaps Up Gassy Eagle Ford Hawkville Leasehold, Touts LNG Export Potential

Mitsui Snaps Up Gassy Eagle Ford Hawkville Leasehold, Touts LNG Export Potential

Japan’s Mitsui & Co. Ltd. has added an upstream foothold in the Eagle Ford Shale of South Texas, with plans to serve LNG export demand, as well as low-carbon ammonia and methanol production on the Gulf Coast. The Tokyo-based conglomerate said Thursday it has completed the acquisition of a roughly 92% working interest in an…

April 24, 2023
G7 Leaders Leave Door Open to New Natural Gas Investments

G7 Leaders Leave Door Open to New Natural Gas Investments

Energy and environment ministers from the Group of Seven (G7) economically advanced nations, including the United States, agreed to ramp up electricity generated by renewable energy sources to accelerate the transition away from fossil fuels. Yet the ministers, recognizing global demand shifts amid Russia’s war in Ukraine and the particular energy needs of meeting host…

April 17, 2023
Floating LNG Inventories Growing as Demand Softens – LNG Recap

Floating LNG Inventories Growing as Demand Softens – LNG Recap

Global natural gas demand remained weak as floating inventories built at sea and prices in Europe and Asia continued falling as the week got underway.  The May Title Transfer Facility (TTF) shed a penny on Monday, while spot LNG prices in Asia dropped below $12/MMBtu to their lowest point in nearly two years.  In Europe,…

April 17, 2023
Thailand, India Buy More Cargoes, but Global Spot Demand Still Weak – LNG Recap

Thailand, India Buy More Cargoes, but Global Spot Demand Still Weak – LNG Recap

Pockets of spot LNG demand continue emerging across Asia, particularly among price-sensitive natural gas buyers, but the market remains loose heading into summer as larger buyers across the region and in Europe remain on the sidelines.  Thailand’s PTT LNG Co. Ltd. bought nine summer cargoes for about $13/MMBtu in a tender that closed last week,…

April 10, 2023
Japan Considering Ways to Build Stronger LNG Buffer as Supply Fears Continue

Japan Considering Ways to Build Stronger LNG Buffer as Supply Fears Continue

Japan’s Ministry of Economy, Trade and Industry (METI) is planning a strategic LNG reserve to ensure the country has enough natural gas to meet domestic demand as global competition ramps up.  METI’s proposal is primarily aimed at preventing gas shortages and preparing Japan, one of the world’s largest buyers of liquefied natural gas, for battling…

December 8, 2022