China’s Sinopec gets maiden LNG under new Qatari deal
China's state-owned Sinopec reported yesterday that it had received its first liquefied natural gas (LNG) cargo as part of a new supply contract with Qatar Energy.
LNG
China’s Sinopec floods LNG spot market with cargoes for 2022
A top Chinese liquefied natural gas (LNG) importer is offering to sell dozens of spot cargoes this year, indicating the world’s biggest buyer is well-stocked.
Woodside completes Pluto LNG Train 2 sell-down to GIP
Australia’s Woodside (ASX:WPL) has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 joint venture to Global Infrastructure Partners (GIP).
Australia’s hottest day in 60 years triggers LNG plant outage
Australia matched the country’s highest temperature on record, triggering a bushfire warning and temporarily shutting a liquefied natural gas (LNG) export plant on Friday.
Japex signs up to develop Northern Vietnam LNG terminal
Japan Petroleum Exploration (Japex) has signed on to construct a liquefied natural gas (LNG) terminal in the north of Vietnam.
Petronas and Sabah launch gas masterplan
Malaysia’s Petronas and the Sabah State Government on Tuesday launched the Sabah gas masterplan that serves as a reference for both parties in guiding the way forward for the further development of natural gas in the Malaysian state.
South Korea chided for declaring gas a sustainable investment
South Korea’s government is being criticised for including natural gas in a category of activities that it deems will help cut emissions.
Australian share prices ignore surging LNG revenue
While 2021 has seen a surge in revenue from liquefied natural gas (LNG) sales, this has not been reflected in the share prices of the three Australian companies most leveraged to LNG revenue: Woodside (ASX:WPL), Santos (ASX:STO) and Origin Energy (ASX:ORG), EnergyQuest said in a note today.
Australia posts record LNG exports in 2021
Australian exports of liquefied natural gas (LNG) hit a record high in 2021 of 80.9 million tonnes, according to estimates based on shipping data from EnergyQuest. Significantly, it is likely that 2021 is close to the peak of Australian LNG production, added the Adelaide-based consultancy.
China LNG demand to peak in 2022
This year will mark a peak for liquified natural gas (LNG) imports into China as domestic production is set to expand and pipeline imports increase, predict analysts at Fitch Solutions.
Gas shortage leads to Pakistan losing 20% of vital textile exports
Pakistan’s natural gas shortage is hurting its most important export industry, putting even more stress on an economy already struggling with accelerating inflation and a weakening currency.
Power-hungry Asia to see demand growth continue apace in 2022, says Woodmac
After the boom in regional power demand over the past 12 months, the outlook remains positive with Wood Mackenzie now expecting a 8% growth in Asian power demand in 2022.
Keppel and Shell driving adoption of LNG in Singapore
FueLNG, a bunkering joint venture between Keppel O&M and Anglo-Dutch major Shell, is driving the adoption of liquefied natural gas (LNG) in Singapore with over 460 operations carried out in 2021, comprising ship-to-ship (STS) and truck-to-ship bunkering, and truck-to-industry operations. FueLNG will also start servicing BHP. This will help bolster Singapore’s efforts to establish itself as a global LNG bunkering hub.
Southeast Asia to dominate global deepwater gas activity with $25bn spend
Southeast Asia will lead other regions in having the largest share of new deepwater gas and condensate developments taking a final investment decision (FID) between 2022 and 2025, research from Rystad Energy shows. Significantly, around $25 billion is expected to be spent on greenfield deepwater developments in the region from 2021-2025, up from $2 billion over the prior five-year term.
Singapore’s Pavilion to supply LNG to China
Singapore’s Pavilion Energy will supply 0.5 million tonnes per year (t/y) of liquefied natural gas (LNG) to China’s Zhejiang Hangjiaxin Clean Energy as the Southeast Asian city state aims to become a regional LNG trading hub.
Shell waiting on approval for CCS to exit Abadi LNG
Shell’s (LSE:RDSA) attempt to divest its stake in the Abadi liquefied natural gas (LNG) project, proposed in the Masela Block offshore Indonesia, is likely to be further delayed as operator Inpex (TYO:1605) seeks approval for a revised plan of development (POD).
Regulator orders Shell to stop output at Prelude FLNG until safe
The Australian offshore regulator NOPSEMA has ordered Shell (LSE:RDSA) to stop production at its Prelude floating liquefied natural gas (FLNG) unit until the energy major can demonstrate the giant floater’s ability to recover power and services safely.
Gas giant in Korea accused by activists of greenwashing over Australian LNG
South Korea’s largest private gas provider SK E&S is facing legal action from a climate activist group alleging that it falsely advertised the green credentials of the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia.
Southeast Asia’s oil and gas output at lowest level since 1998
The Covid-19 pandemic has marked the end of an era for Southeast Asia’s combined oil and gas production, pushing the region’s output in 2021 to below 5 million barrels of oil equivalent per day (boepd) for the first time since 1998. Significantly, this threshold is not likely to be exceeded again in the future, despite new project start-ups in coming years, the latest analysis from Rystad Energy shows.
China’s CNOOC signs maiden US LNG deals with Venture Global
US-based Venture Global LNG has signed a pair of liquefied natural gas (LNG) supply deals with China National Offshore Oil Corporation (CNOOC). Significantly, the move underscores China’s increasing appetite for US LNG and it marks the first LNG supply agreement signed by a US exporter with CNOOC, China's largest importer of LNG.
BP’s Tangguh LNG Train 3 start-up delayed again, says SKK Migas
The start-up of BP’s (LON:BP) Tangguh liquefied natural gas (LNG) Train 3 project, which is under construction, has again been delayed due to the pandemic. It is now expected to start up at the end of 2022, reported Indonesian upstream regulator SKK Migas.
B.Grimm and Siemens join Vietnam LNG-to-power project
Thailand’s B.Grimm Power and Siemens Energy have joined the Energy Capital Vietnam (ECV)-led consortium to develop an LNG-to-power project in Southern Vietnam.
As gas prices surge Australian LNG developers make more money than US exporters
Extraordinary global gas prices are benefitting Australian liquefied natural gas (LNG) exporters. At current spot prices Australian LNG producers can make even larger margins on spot sales than US exporters, with estimated margins of over US$30 per million British thermal units (MMBtu), due to shorter shipping distances to Asia, said Australian consultancy Energy Quest.
Australian LNG under threat in China market
Australia, which is profiting from surging gas prices in Asia, remains the largest liquefied natural gas (LNG) supplier to North Asia. But its market position in the booming Chinese market is under threat, warned Australian consultancy Energy Quest.
Banning US LNG exports would be ‘highly destabilising’ says IHS Markit
Disrupting liquefied natural gas (LNG) supply would risk higher prices for domestic consumers, undermine US interests abroad and hinder global emissions reduction efforts, a new report from IHS Markit finds.