Global LNG Demand to Double by 2040: Shell
Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell, LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon energy system.”Asia is expected to remain the dominant region in the decades to come…
'Power of Siberia' Pipeline Begins Flow to China
China has started to consume Russian gas via the newly launched "Power of Siberia" pipeline, said CNPC-backed Kunlun Energy Ltd, operator of the pipeline in China, on Wednesday.The company receives 250,000-300,000 cubic meters of pipeline gas daily from Russia, helping to ease tight gas supply in winter season in Harbin, provincial capital of the north-most region Heilongjiang.The 3,000-km (1,864 mile) pipeline, launched in December, is expected to transmit 4.6 billion cubic
PetroChina's oil and gas trade turnover up 5% in 2019
PetroChina Co Ltd, China's leading energy firm, expanded its oil and gas trade in 2019, recording a rise of nearly 5% from prior year to exceed 500 million tonnes oil equivalent, according to a statement posted on the website of parent firm China National Petroleum Co on Thursday.PetroChina International, better known as Chinaoil, the trading arm under the state-run PetroChina, achieved "significant" growth in pre-tax profit last year, the report stated, without providing any
TurkStream Gas Pipeline Launched
The Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan, respectively, officially launched the TurkStream natural gas pipeline designed to ship Russian gas to Turkey and markets in southeastern Europe.TurkStream, which is laid in the Black Sea, is a link between the gas transmission systems of Russia and Turkey. The gas pipeline has two strings with a combined throughput capacity of 31.5 billion cubic meters.
China Expects Balanced Energy Supply/Demand
China's state planner expects this winter's energy supply and demand to be generally balanced amid increasing natural gas output and liquefied natural gas (LNG) imports, state news agency Xinhua reported on Tuesday.Citing unidentified officials from the National Development and Reform Commission (NDRC), Xinhua reported natural gas demand from residential users will grow by more than…
First Commercial Cargo Loaded from Tango FLNG
Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday.Argentina's export joins a wave of new supply flooding the spot market which has depressed Asian spot prices to their lowest in a decade for this time of the year.The state-owned firm issued a tender which closed on Nov.
LNG Market Recovers in Q2, Says Flex LNG
During the second quarter 2019, spot liquefied natural gas (LNG) freight rates stabilized and started gradually to recover, says Flex LNG, the owner of LNG carrier vessels and floating storage regasification units (FRSUs).Unseasonably slow demand in Asia over the winter due to fewer heating days caused by warmer weather, and cooler weather than normal in key demand areas early in the…
US LNG plays havoc with Dutch Gas, Asian shipping
Dutch gas prices hit 10-year lows this week, reflecting high European inventories swelled by liquefied natural gas (LNG) imports, testing levels at which companies that committed to buy U.S. LNG will start making serious losses.Prices for month-ahead Dutch gas have dropped by two-thirds since their peak last September of just under 30 euros per megawatt hour (MWh).On Friday, Dutch gas for July delivery slumped to 8.95 euros per MWh…
Equinor Q1 Beats Forecast
Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November.Earnings before interest and tax (EBIT), adjusted for one-off items, fell to $4.2 billion in the first quarter from $4.4 billion during the same period of 2018, higher than a forecast of $3.9 billion in a Reuters poll of analysts.The company, which has a
Keppel Makes First LNG Cargo Import from N. America
Singapore's Keppel Gas, a wholly owned subsidiary of Keppel Infrastructure Holdings, has completed its first liquefied natural gas (LNG) cargo import under Singapore's spot import policy.The policy allows gas customers in the Republic to import up to 10 per cent of their annual long-term contracted LNG intake on a spot cargo basis.The spot cargo of 160,000m3 of LNG originated from an LNG liquefaction project in North America…
Woodside Inks LNG Supply Deal with ENN
Australia's Woodside Petroleum WPL.AX has signed a Heads of Agreement (HOA) to supply liquefied natural gas (LNG) to China's ENN Group for 10 years from 2025, both companies said on Friday.Woodside, Australia's biggest listed oil and gas explorer, said in a statement the volume covered by the HOA is 1 million tonnes per annum (mtpa), to be sourced from Woodside's portfolio of gas supply.
Novatek, Repsol Pact for Arctic LNG 2
Russia's second largest natural gas producer Novatek said that its trading subsidiary Novatek Gas&Power Asia and Spanish energy company Repsol have agreed to a 15-year contract to supply 1 mtpa of LNG from the Arctic LNG 2 project and other projects.The LNG will be delivered ex-ship primarily to markets on the Iberian Peninsula, said a release from Novatek.“The agreement for the sale…
U.S. LNG Exports Soar, Europe a Big Buyer
U.S. LNG to Europe may squeeze out smaller gas suppliers.Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far.But winter demand for gas is fading, while steady supplies of gas and LNG have kept inventories well stocked, depressing European gas hub prices.
LNG Only Fills Niches in Europe
Although LNG (Liquid Natural Gas) provides a solid supplement to European gas supplies, the EU is and will remain a pipeline market – for good reasons, said Wintershall's new position paper.The report from Germany's largest crude oil and natural gas producer on the importance of liquid gas for Europe said that the liquefaction is highly energy-intensive – the energy consumption corresponds to about 13% of the gas transported.With an energy loss of less than five percent…
ExxonMobil Inks Preliminary Wilhelmshaven FSRU Deal
German utility Uniper on Friday said ExxonMobil had signed a preliminary deal to take a substantial share of the regasification capacity at a liquefied natural gas (LNG) floating terminal planned for Wilhelmshaven."The heads of agreement (a non-binding draft) is an important step towards the realization of the Wilhelmshaven floating storage and regasification (FSRU) project," said Keith Martin…
Uniper intensifies LNG plans with Japan's Mitsui OSK
Mitsui OSK Lines to own, fund FSRU in Wilhelmshaven; FSRU could be operational in H2 2022.Energy group Uniper on Monday entered agreements with Japanese shipping group Mitsui OSK Lines to handle potential deliveries of liquefied natural (LNG) gas into Germany.Discussions about LNG have flared up recently as the German government wants to diversify away from pipeline gas arriving from Russia, Norway and the Netherlands.
Gazprom to Review Shale Gas and LNG Sectors
Russian energy giant Gazprom revealed that there is still a high level of uncertainty in the long-term forecasts for U.S. shale gas production. It also said that the number of LNG-consuming countries would grow in the long term.Gazprom's Board of Directors took note of the information about the prospects of the shale gas and liquefied natural gas (LNG) sectors around the world, as well…
Europe Gas Trade Volume on Track for Record in 2018
European gas trading volumes in 2018 may beat the record 51,000 terawatt hours (TWh) recorded in 2016 unless unseasonally warm weather prevails for the rest of this year, Prospex said in a report on Friday.The British research company said slower trading in 2017 was followed by an upturn in the first half 2018 as consumption grew and business on the Dutch gas exchange Title Transfer Facility (TTF) picked up.Natural gas trading rose by 4 percent year-on-year to 26…
US Aims to Start LNG Deliveries to Germany in Four Years
U.S. companies expect to begin delivering liquefied natural gas (LNG) to Germany in four years at the latest and will challenge Russia which now accounts for 60 percent of German gas imports, the deputy U.S. energy secretary told a German newspaper."U.S. liquefied natural gas is coming to Germany. The question is not if, but when," Dan Brouillette told the mass circulation daily Bild in an interview published on Monday.U.S.
Uniper Sees Merit in Building LNG Terminal at Wilhelmshaven
Germany's Uniper on Tuesday said it favors a liquefied natural gas (LNG) terminal at the Wilhelmshaven deep sea port on the North Sea coast, less than a week after peer RWE said it secured access to capacity should a rival project at Brunsbuettel go ahead."Wilhelmshaven in particular can be a suitable location, there are many arguments in favour of it," spokesman Leif Erichsen said in a written statement.He cited the port's ability to offer infrastructure for LNG vessels of a