LNG will be oversupplied until mid-2020
An executive from Japan’s Inpex Corp. is predicting oversupply in the LNG market until mid-2020, at which point they expect demand from southeast Asia and India to pick up.
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An executive from Japan’s Inpex Corp. is predicting oversupply in the LNG market until mid-2020, at which point they expect demand from southeast Asia and India to pick up.
A tender for four LNG cargoes, launched by India’s Torrent Power, has been awarded with a price average of less than US$4 per million Btu.
According to Reuters, Petronet LNG and Tellurian Inc. are set to sign a deal worth US$2.5 billion during President Donald Trump’s trip to New Delhi, India, this month.
Qatargas Operating Co. Ltd has announced that it has supplied a commissioning LNG cargo for India’s newest LNG receiving terminal, Mundra, located on the west coast of India.
Reuters is reporting that Qatar is not keen to renegotiate its long-term LNG deals with India.
India is seeking to renegotiate the price of its long-term LNG contracts with Qatar.
Asian LNG spot prices have dropped to their lowest level in more than 10 years, due to a mild winter impacting on demand.
Asian LNG spot prices have fallen to a new multi-year low, with at least one cargo selling for less than US$4 per million Btu.
Asian LNG spot prices have dropped below US$5 per million Btu to a four-month low as buyers hold off ahead of the Lunar New Year holidays.
Indian Oil Corp. is looking to secure six LNG cargoes for delivery between April and December.
Asian LNG spot prices have seen an increase for February deliveries.
According to Reuters, a number of Indian companies are seeking LNG cargoes for delivery in February on the spot market.