Asian LNG spot prices rise as supply constricts
Asian LNG spot prices have risen as supply has constricted, primarily due to a lack of available cargoes and coronavirus.
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Asian LNG spot prices have risen as supply has constricted, primarily due to a lack of available cargoes and coronavirus.
PetroChina has suspended some of its natural gas contracts, including both LNG and pipeline imports due to the compounded impact of declining demand and coronavirus.
Rob Patterson and Myles Mantle, UK, and Liza Mark, China, Haynes and Boone, take an in-depth look at the Chinese LNG market.
According to Reuters, three LNG cargo shipments have been delayed from the Tangguh LNG project in Indonesia due to the coronavirus outbreak.
After weeks of declines and lows, Asian LNG spot prices are now on the rise, as the low prices have drawn interest from several buyers.
Well-supplied global LNG market sees demand build for cleaner-burning energy, according to Shell’s latest annual LNG Outlook.
PETRONAS has announced that its subsidiary, PETRONAS LNG Ltd, has signed a 12-year time charter party with Kawasaki Kisen Kaisha Ltd for two mid-sized newbuild LNG vessels.
Declining Chinese LNG demand, due to the Coronavirus epidemic, has led to Asian spot prices falling to new lows.
Four LNG tankers en route to North Asia have been diverted due to the Coronavirus outbreak in China.
According to Reuters, Qatari energy companies are actively engaged in accommodating both rescheduling and re-routing requests on some deliveries of Qatari oil and gas cargoes to China after the coronavirus outbreak.
According to Reuters, Woodside Petroleum Ltd has announced that the coronavirus outbreak is affecting its ability to sign gas deals and sell stakes in a key growth project, reporting a 25% decrease in annual underlying profit.
Rystad Energy is expecting LNG trading between the US and China to remain low, despite also predicting that tariffs on trade between the two countries will be removed in the near future.