Qatar’s announcement on Tuesday that it remains committed to expanding its natural gas exports worldwide by 2024 brings into focus the question of when the ongoing supply glut in global liquified natural gas (LNG) markets could come to an end.
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Global LNG Investment Hits New Record of $50B, Says IEA
Japan’s Minister of Economy, Trade and Industry (METI) Isshu Sugawara said Thursday $10 billion would be invested in liquefied natural gas (LNG) projects worldwide by the country’s private and public sectors.
Novatek Finalizes Arctic LNG 2 Project
Russia’s largest independent natural gas producer Novatek has completed the sale of its remaining stakes in the Arctic 2 liquefied natural gas (LNG) project to two Chinese companies and a Japanese consortium.
In First, Shell Inks LNG Supply for Tokyo Gas to Coal Prices
Tokyo Gas Co. Ltd. said Friday it has clinched a heads of agreement (HOA) for liquefied natural gas (LNG) supply with a unit of Royal Dutch Shell plc that would use a unique pricing formula based on coal indexation.
Powerhouse LNG Buyers Jera, EDF Combining Trading Activities
Two of the leading natural gas buyers in the world, EDF Trading Ltd. (EDFT) and Jera Co. Inc., on Tuesday agreed to combine their worldwide trading activities to optimize liquefied natural gas (LNG) marketing.
U.S., Japan to Cooperate on LNG Projects Throughout Asia
The U.S. and Japanese governments said they plan to continue their cooperation in the energy sector by providing training, financing and technical assistance to countries within the Indo-Pacific region, ostensibly to promote U.S. liquefied natural gas (LNG) exports to Asia.
Brief — JERA Co. Inc.
JERA Co. Inc. said its first liquefied natural gas (LNG) cargo produced in the contiguous United States arrived at the Joetsu LNG Terminal of Chubu Electric Power Co. last Friday. It is the first Lower 48 U.S. LNG cargo to be delivered to Japan, the company said. JERA and Cheniere Marketing International LLP had entered into a sale and purchase agreement for the cargo, which was loaded onto the LNG vessel Oak Spiritat Cheniere Energy Partners LP’s Sabine Pass LNG Terminal in Louisiana on Dec. 7. The voyage to Japan via the Panama Canal took about one month. JERA said it believes the purchase of US LNG will contribute to a stable energy supply in Japan through the diversification of procurement regions and LNG price indices. JERA said it will establish an “LNG procurement portfolio that can flexibly respond to changes in the business environment by increasing its procurement ratio of LNG which is free from destination restrictions, through projects such as the Freeport LNG Project in [the United States].”
Forecast Cooler Temps See NatGas Bulls Looking Past $3; December Adds 11 Cents
Next-day natural gas romped higher in Monday’s trading as wintry conditions and below normal temperatures brought buyers off the bench and sent next-day prices higher by double-digits. The NGI National Spot Gas Average rose a stout 30 cents to $2.75.
Japanese NatGas Utility Strikes Second-Hand LNG Deal
Shizuoka Gas Co. and Shell Eastern Trading (Pte) Ltd. have struck a liquefied natural gas (LNG) sale and purchase agreement (SPA) that will utilize the export capability recently added to the Shimizu LNG Terminal. It’s another move toward increasing LNG supply flexibility and trading capabilities by the Japanese utility.
British Columbia, Japan Ink Agreements to Further LNG Export Cooperation
British Columbia (BC) Premier Christy Clark used a trade mission to Japan to give formal political support this week to the industry lineup to build liquefied natural gas (LNG) export terminals on the province’s northern Pacific coast.