Asian spot LNG prices at eight month low
Asian spot LNG prices are currently at an eight month low as mild winter weather persists.
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Asian spot LNG prices are currently at an eight month low as mild winter weather persists.
Wood Mackenzie is forecasting that 2019 will see a record-breaking 60 million tpy of LNG production capacity be approved.
Nick Prowse and Penny Cygan-Jones, Norton Rose Fulbright LLP, UK, consider the global outlook for the LNG industry, with a focus on recent developments in the US, Asia, Australia, South Africa and Africa.
LNG buyers’ willingness to commit to new long-term contracts has increased significantly during 2018 amid expectations of a tighter LNG market.
CIMC has announced that, in a first for the industry, 130 LNG tank containers have been delivered from the Port of Yangpu of Hainan Province to the Port of Jinzhou, China.
Hoegh LNG is expecting to extend its contract with CNOOC and to sign additional deals.
Asian LNG spot prices have experienced a 10% slide this week to a more than three month low due to declining oil prices.
Industrial gas demand in Northern China is experiencing a sharp decline as small factories are receiving fewer export orders.
South Korean shipbuilders have outbid competitors and secured all orders for large LNG carrying vessels for the next three years.
According to Reuters, China National Offshore Oil Co. (CNOOC) has successfully received its first LNG cargo from the Yamal LNG project in Russia.
The Linde Group has been awarded a contract from Inner Mongolia Huineng Coal Chemical Co Ltd. to supply a mid-scale LNG plant near Beinichuan in Inner Mongolia.
ABB has been awarded its first marine automation system contract for a cruise ferry in China, after the technology package for the Chinese-built Viking Line vessel has been extended to include the ABB Ability System 800xA.