Tag: LNG market

Shrinking Arctic ice made this year’s navigation season for LNG tankers the longest on record, benefiting LNG trade, but acting as the latest sign of a deteriorating climate change. 

The US Coast Guard (USCG) issued a proposed amendment to its regulations concerning waterfront facilities handling liquefied natural gas (LNG) and liquefied hazardous gas (LHG). 

The Energy Information Administration reported that the US liquefied natural gas exports have dropped considerably in the week ending June 10 in comparison to the week before.

Amid the coronavirus outbreak that continues to expand, the slowdown in global oil and gas consumption this year will hit suppliers who will see average prices fall below previous expectations, says Rystad Energy. Meanwhile, coronavirus and LNG oversupply are expected to lead to low gas prices. 

Oil major, Shell, launched its LNG Outlook for 2020, presenting the trends of 2019 concerning the liquefied natural gas demand and growth, highlighting that the year that passed was a record-year of LNG supply growth.

The Korean company Daewoo Shipbuilding & Marine Engineering (DSME) along with the Mitsui O.S.K. Lines recently shake their hands and inked an agreement in order to develop new technologies, reducing the environmental affects of the Floating Storage and Regasification Unitis (FSRU).

Oil major, Shell, launched its LNG Outlook for 2020, presenting that the global liquefied natural gas (LNG) demand increased by 12.5% to 359 million tonnes in 2019, an important increase that boosts LNG's role in the switch towards a lower-carbon energy system.

ADNOC L&S along with Atlantic Gulf & Pacific (AG&P) shake their hand and inked a 15-year agreement concerning a floating LNG storage unit in Karaikal, India.  Under the terms of the charter deal, ADNOC will provide one of its 8 LNG vessels, a 137.756 cbm Moss-type LNG tanker that would be converted to an FSU.

Following the coronavirus situation, two of the biggest European energy companies denied a Chinese force majeure upon the LNG deals. Specifically, Royal Dutch Shell Plc and Total SA did not accept the legal grounds of China National Offshore Oil Corp. (CNOOC) decision.

Japan’s Institute of Energy Economics recently issued its 2020 Energy Outlook in Japan and World, highlighting that region's average LNG import price is set to low. Namely, the Institute estimates a drop from around $10 per million British thermal units (mBtu) in 2019 to below $9 per mBtu during 2020.