Europe’s Russian LNG Imports Again on the Rise
Despite efforts to ban Russian natural gas imports, Europe has been taking in more of it as higher spot prices in the Pacific Basin in recent weeks have drawn more American supplies toward Asia.
Despite efforts to ban Russian natural gas imports, Europe has been taking in more of it as higher spot prices in the Pacific Basin in recent weeks have drawn more American supplies toward Asia.
NO. 1: Cheniere Energy Inc. expects to produce first LNG at its Corpus Christi LNG (CCL) expansion project in South Texas by the end of this year. The company also is planning to introduce natural gas to Train 1 in two months, management said Thursday.
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.
Summer heat in the northern hemisphere and growing LNG demand could be kickstarting a mid-year price hike in global natural gas benchmarks.
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.
The Bintulu LNG complex in Malaysia is poised to boost liquefied natural gas output now that supplies are flowing from the Jerun field.
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.
Hot weather in Asia continues to attract LNG cargoes from the Gulf Coast, which has created a lopsided shipping market.
Asia’s emerging economies and growing population are expected to sustain growth in the global LNG market and help absorb excess supplies hitting the water later this decade as new export projects come online.