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China: No deal has been agreed with the US

China's Foreign Ministry Spokesperson Lu Kang has declined claims by US President Donald Trump that the two countries had made a deal to stop the trade war. During a Press Conference, Lu Kang mentioned that he is not aware of the deal that the US is talking about. He added that the underlying reason that the 11 rounds of consultations have not managed to conclude on an agreement is that the US attempts to achieve unreasonable demands.

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US adds two operating offshore rigs, reaches a total of 22

The US drilling rig count reduced by one unit, reaching 987, according to Baker Hughes. In addition, for the the week that ended in May 17, the US had 22 rigs working. In comparison to the same period last year, there are 59 units less, as the rig count last year was 1,046. Ohio experienced the largest increase in rigs with a 4, reaching 20. Wyoming’s rig count rose by 3, Louisiana gained 2, and finally New Mexico gained one unit and now has 103 rigs operating.

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LNG production begins at Cameron LNG export terminal

Total announced that the Cameron LNG project has achieved first LNG production from train 1. The project will begin exports in the following weeks. Phase 1 of the Cameron LNG project of 13.5 million tonnes per annum capacity includes three LNG trains of 4.5 Mtpa each. Construction is currently taking place for trains 2 and 3 with first production expected by the turn of the year and mid-2020 respectively.

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Bill introduced in the US to curb oil and gas methane emissions

US Rep. Diana DeGette introduced legislation to reduce the large amounts of methane pollution and waste that are being released into the atmosphere each year by oil and gas producers across the country. The bill would mandate oil and gas producers to capture 85% of all gas produced on public lands within three years of enactment, and 99% of all gas produced on such lands within five years of enactment.

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Global LNG imports increase in 2018 compared to 2017

According to the International Gas Union's Wholesale Gas Price Survey, dramatic changes have taken place in the natural gas wholesale price formation during a period of major developments in the global gas market. The share of spot LNG imports reached just over 30% of total LNG imports in 2018, amounting to about 126 BCM, which is an increase of 65 BCM since 2016, or 10.5%.

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