Gas

U.S. LNG exports only started in 2015. and sales to China were a booming business opportunity for the American natural gas industry.

Iran has imported natural gas from Turkmenistan since 1997 for distribution in the north of the country.

China is the third largest importer of US LNG.

Gazprom’s activities in the European gas market are underpinned by long-term contracts with oil-pegged prices and take-or-pay clauses.

The marginal cost of gas in transport is lower than that of oil-related fuels.

South Korea had the market share at 70% of the orderbook by cbm. followed by Japan (21%) and China (9%).

China accounted for 13% of the exports from Cheniere’s Sabine Pass terminal in Louisiana as of mid-June.

LNG from the United States for Europe is at least 30-40% more expensive than the pipeline gas from Russia.

LNG spot prices for September deliveries in Asia have reached US$10.00 per million Btu.

PGNiG has to buy certain amounts of gas annually from Russia under a long-term deal with Russia’s Gazprom.