Articles tagged Asian LNG demand

Cheniere Energy Inc. said it earned less for its LNG during the second quarter as lower global natural gas prices and smaller gains on its derivatives cut into margins.

Global natural gas demand accelerated during the first half of the year at a rate well above the historical average, according to the International Energy Agency’s (IEA) latest quarterly report.

Extreme temperatures and plant outages in the Pacific basin have pushed Asian spot LNG prices upward, creating more competition in the market and boosting spot shipping rates.

Subdued natural gas prices and lower European demand between April and June dinged Paris-based TotalEnergies SE during the second quarter.

Worldwide gains in natural gas demand are expected to be marginal for the rest of the year, pushing down LNG spot prices and global gas benchmarks through the later half of 2024, according to the International Energy Agency (IEA).

NO. 1: The Freeport LNG Development LP terminal on the upper Texas coast remained offline on Thursday for the fifth day in a row since it was shuttered on Sunday ahead of former Hurricane Beryl.

As U.S. and Middle East LNG exporters appear poised to be the dominant long-term players in the global market, competition for Asian buyers willing to pay for the next wave of supply could be heating up.

The flood of LNG poised to hit the global natural gas market later this decade is widely expected to push prices lower, potentially broadening the super-chilled fuel’s appeal in a way that could stoke more demand and help absorb the projected supply glut.