LNG prices

LNG Ships Still Avoiding Red Sea, but Market Said Insulated from Diversions

LNG Ships Still Avoiding Red Sea, but Market Said Insulated from Diversions

LNG ships are still avoiding transit in the Red Sea via the Bab el-Mandeb Strait to Europe or Asia and instead diverting around Africa’s Cape of Good Hope to avoid attacks from Yemen-based Houthis militants. However, global liquefied natural gas buyers have yet to show signs that added shipping costs and delivery delays are impacting…

February 7, 2024
Baker Hughes Forecasting LNG FIDs Slowing, but Overall Massive Pipeline to 2030

Baker Hughes Forecasting LNG FIDs Slowing, but Overall Massive Pipeline to 2030

The world is on track to achieve 800 million metric tons/year (mmty) of LNG capacity by 2030, with Baker Hughes Co. expecting to grab a major slice of the market, executives said Wednesday. CEO Lorenzo Simonelli, joined by CFO Nancy Buese, discussed the Houston-based oilfield service giant’s latest quarterly results and the outlook during a…

January 24, 2024
Falling LNG Prices Again Bring Asia’s Cost Sensitive Buyers Back to Spot Market

Falling LNG Prices Again Bring Asia’s Cost Sensitive Buyers Back to Spot Market

Asian spot LNG prices reached a seven month low in January, dropping below $10/MMBtu, bringing cost-sensitive buyers like Bangladesh, India, Pakistan and Thailand back to the spot market. High gas storage levels in Europe have pushed prices there lower and prompted liquefied natural gas sellers to turn their attention to Asia.  Asia-Pacific “demand will continue…

January 16, 2024
Will Middle East Tensions Test 2024’s Thin Global Natural Gas Supply Balance?

Will Middle East Tensions Test 2024’s Thin Global Natural Gas Supply Balance?

Headed into 2024, global natural gas prices have seemingly coalesced around a new normal  after a volatile two-year period, but experts warn a tenuous market balance means volatility is likely just around the corner for at least the next year. While prices for spot LNG and European pipeline volumes are elevated after Russia’s 2022 invasion…

January 11, 2024
JKM Prices Continue Decline Despite Earthquake in Japan

JKM Prices Continue Decline Despite Earthquake in Japan

A 7.6-magnitude earthquake that hit western Japan continued to have little impact on the country’s natural gas demand and Asian natural gas prices on Wednesday. Two coal-fired power plants were closed and some gas-fired generation had been reduced in the Noto region after the quake hit Monday. The Naoetsu LNG import facility was briefly shut…

January 3, 2024
Chesapeake Working to Diversify LNG Supply Deals, Gain Price Exposure in Asia, Europe

Chesapeake Working to Diversify LNG Supply Deals, Gain Price Exposure in Asia, Europe

While Chesapeake Energy Corp. works to finalize its natural gas supply deals with LNG buyers, management says it’s narrowing down opportunities to link more of its Haynesville and Marcellus shale supply to international benchmarks in the months to come. Chesapeake currently has tentative agreements with liquefied natural gas traders that could link up to 3…

December 6, 2023

U.S. LNG Exporters Seek Alternative Routes to Asia as Panama Canal Bottleneck Worsens

A persistent drought impacting the Panama Canal has left LNG shippers with a few alternatives; either wait for weeks in a growing queue, pay exorbitant prices to jump the line or take a long detour. The water levels at Alajuela and Gatun, the two artificial lakes that supply water to the canal, have continued to…

November 15, 2023
U.S. Continues to Drive Global LNG Supply Additions, GIIGNL Says

U.S. Continues to Drive Global LNG Supply Additions, GIIGNL Says

The United States is likely to become the world’s largest LNG exporter this year, according to the International Group of Liquefied Natural Gas Importers (GIIGNL). The United States added 8.4 million tons (Mt) of new volumes to global supply last year, or nearly one-half the 16.9 Mt added by other LNG producers across the world,…

July 21, 2023
More Global LNG FIDs Tracking for 2023 and Beyond, Says Baker Hughes CEO

More Global LNG FIDs Tracking for 2023 and Beyond, Says Baker Hughes CEO

The opportunities for global natural gas, including LNG, look strong in the near term, with a “number of projects” likely to be sanctioned for the next few years, Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday. During the conference call to discuss second quarter 2023 results, Simonelli said recent customer discussions to advance more liquefied…

July 19, 2023
Repsol Pushes FERC for More Transparency on Prolonged Commissioning at Calcasieu Pass LNG

Repsol Pushes FERC for More Transparency on Prolonged Commissioning at Calcasieu Pass LNG

Repsol SA continues to push U.S. regulators for access to confidential documents filed by Venture Global LNG Inc. detailing the prolonged commissioning process at the Calcasieu Pass export terminal that has delayed commercial operations and the delivery of cargoes under long-term contracts. In April, Madrid-based Repsol filed a motion to participate in FERC’s ongoing oversight…

June 7, 2023
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