japan

Some of the largest Japanese offtakers of U.S. LNG met with federal and Alaskan officials during a summit in Japan to discuss developing an export project that could connect North Slope natural gas to a supply-short Asian market. At a summit convened in Tokyo by U.S. Ambassador to Japan Rahm Emanuel, Sen. Dan Sullivan (R-Alaska)…

Russia’s control of global oil and natural gas supplies, and particularly LNG, has progressed with ExxonMobil’s exit from the Sakhalin-1 offshore oil project. ExxonMobil disclosed exited Sakhalin-1 after Russian President Vladimir Putin signed a decree expropriating the supermajor’s 30% stake “With its two recent decrees, the Russian government unilaterally terminated our interests in Sakhalin-1, and…

Asian countries that typically buy massive volumes of LNG are moving to build contingencies for procuring expensive cargoes and reserving excess volumes as risks of colder winter weather and continued competition with Europe sustain market volatility. Asian natural gas prices have been steadily descending for more than a week, following the Dutch Title Transfer Facility…

Japan plans to restart mothballed nuclear facilities and may develop more projects, Prime Minister Kishida Fumio said Wednesday, reversing a more than decade-long policy that has increased the country’s reliance on LNG. During a press conference, Kishida said he had directed energy officials to initiate concrete plans by the end of the year to restore…

President Vladimir Putin’s latest decree to stop sales of Russian energy assets, leaves the status and progress of Russia’s liquefied natural gas (LNG) projects in disarray.  The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already said it plans to divest its 27.5% stake in the…

Russia is moving to further tighten its grip on the nation’s oil and natural gas supplies, issuing a decree for the country to take over the Sakhalin-2 liquefied natural gas (LNG) export project on Sakhalin Island north of Japan.  An executive order signed by Russian President Vladimir Putin to “protect the national interests” calls for…

Japan expects to reduce its reliance on Russian liquefied natural gas (LNG) imports, but it’s unlikely to happen quickly, officials said. The Group of Seven (G-7), an inter-governmental political forum, has been considering ways to punish Russia following its invasion of Ukraine. The G-7 consists of Canada, France, Germany, Italy, Japan, the UK and the…

Additional volatility in the global natural gas market set off by Russia’s invasion of Ukraine earlier this year is driving liquidity in global benchmarks that continues to set new highs, particularly in Europe, according to the Intercontinental Exchange (ICE).  Open interest in Italian Punto di Scambio Virtuale (PSV) gas futures was up 169% year/year from…

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…