Liquefied natural gas cargoes recently loaded from the US and bound for Asia are changing course for longer voyages lasting more than a month as they avoid the Red Sea, according to ship-tracking data on Bloomberg. The diversions highlight a shift in global trade flows after Houthi attacks in the …
Read More »Asia-Bound U.S. LNG Cargoes Avoid the Red Sea Route
Several cargoes of LNG loaded in recent days at U.S. export facilities and bound for Asia have changed course shortly after departing to avoid crossing the Red Sea, which has become theater of daily attacks on commercial vessels by the Iran-aligned Houthis from Yemen. Several vessels have indicated they would …
Read More »China Steps up Shale Gas Exploration, Production
China’s natural gas consumption hit an all-time high this weekend amid a cold wave that froze parts of the country. One of the biggest gas importers in the world, China must have felt its dependency on external supply particularly acutely this weekend. But it is working to change things, boosting …
Read More »LNG Shipping Rates Slump on Lower Demand despite Red Sea Chaos
It’s getting cheaper — at least for now — to rent a liquefied natural gas tanker, despite turmoil in the Red Sea that is forcing some vessels to take longer and more costly routes. The slump in LNG shipping rates started in late November but accelerated this week, with prices …
Read More »EU Extends Emergency Natural Gas Price Cap through January 2025
The European Union’s energy ministers approved on Tuesday a plan to extend the emergency cap on natural gas prices for another year until the end of January 2025. The original cap on gas prices, the so-called “market correction mechanism,” was introduced at the end of last year to shield industry …
Read More »Germany Signs $55 Billion Natural Gas Deal with Equinor
Germany’s state-controlled firm Securing Energy for Europe (Sefe) and Equinor signed on Tuesday one of the biggest-ever natural supply deals for Norway’s energy giant worth an estimated $55 billion (50 billion euros). Equinor will supply Germany’s Sefe with around 10 billion cubic meters (bcm) of natural gas per year from …
Read More »Türkiye’s Natural Gas Demand Expected to Reach 53 bcm in 2024
Türkiye’s natural gas demand is expected to increase and reach around 53 billion cubic meters (bcm) in 2024, according to Yaşar Arslan, president of Türkiye’s Natural Gas Distribution Companies’ Association (GAZBIR), on Sunday. Arslan told Anadolu Agency (AA) that natural gas consumption this year may remain below the 56 billion …
Read More »GECG: Qatar Remains Major Global Trans-Shipper of LNG
Qatar remains the top LNG exporter among GECF member countries and figures among top three global trans-shippers of liquefied natural gas, according to the Gas Exporting Countries Forum (GECF). The top three LNG exporters in November were the US, Australia and Qatar, GECF said in its latest monthly report. In …
Read More »German Firm Seeks U.S. Watchdog Approval for LNG Project
A German state-owned company has requested from the U.S. Federal Energy Regulatory Commission approval for the construction of Venture Global’s CP2 LNG project. The entity, called SEFE, or Securing Energy for Europe, comprises the assets previously owned by Gazprom’s German subsidiary. The company was nationalized last year and earlier this …
Read More »The West Moves to Secure Further Emergency LNG Supplies
Since Russia’s invasion of Ukraine on 24 February 2022, the race has been on to secure as much of the world’s regular liquefied natural gas (LNG) supplies as possible to compensate for lost energy supplies from the global gas and oil powerhouse. LNG requires much less infrastructure for delivery than …
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