A roundup of news and commentary from NGI’s LNG Insight
- BP plc has agreed to supply Chinese utility Foran Energy with 300,000 metric tons/year of regasified LNG beginning in 2021. The LNG would arrive at Guangdong Dapeng LNG import terminal, where BP has a stake. The deal follows a similar one BP signed earlier this month to supply ENN Group.
- “The sense of a firming shipping market is growing,” Fearnleys AS said. The best cargo economics span roughly October to December, as global prices and demand for LNG rise.
- “Prompt business is still dominated by spot cargoes and tender-driven inquiries, and this continues to churn through the [ship] availability list without reducing it much,” the shipbroker added.” Looking ahead though, sublets are being withdrawn and the bid/offer spread is finally converging, giving hope to owners seeking to salvage something of the year.”
- Energy Information Administration: The United States consumed 6.5 quadrillion BTU in April, the lowest demand since September 1989. April’s mild temperatures typically reduce energy demand. This year, however, April marked the height of stay-at-home measures enacted to curb Covid-19.
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