In partnership with its country’s business sector, the Japanese government will invest some $14.4 billion (1.5 trillion yen) in liquefied natural gas development in Mozambique, the Nikkei Asian Review reported. According to the report, the money will fund the development of a gas field in the African country to produce some 12 million tonnes of LNG […]
In a first of its kind effort to produce natural gas at cheap prices, India’s biggest LNG importer Petronet is close to signing a long-term LNG deal benchmarked to daily or spot prices, which generally are lower than standard rates of such contracts. The CEO and Managing Director of Petronet LNG, Prabhat Singh, however, refused to […]
The current global downturn triggered by the COVID-19 pandemic is affecting commodities in a wide variety of ways, but Australia’s overall export outlook is still relatively strong, a government report said, adding that export earnings are estimated to set an all-time record in 2019–20. The report by Australia’s Department of Industry, Science, Energy and Resources […]
The natural gas industry sees no change to the strong long-run outlook for demand following the COVID-19 crisis, but expects a supply shortfall in the next four years as the pandemic lockdowns and oil price collapse lead to delays on gas projects. Gas producers, buyers, liquefied natural gas (LNG) developers and a major contractor said […]
The latest International Energy Agency (IEA) report on the global natural gas market has forecast that global natural gas demand will drop by 4 per cent, or 150 billion cubic metres (bcm) in 2020 as consumption takes a hit from the economic impact of the novel coronavirus. The IEA forecasts a gradual recovery in demand […]
India’s first natural gas exchange will start operations on Monday 15 June, 2020 at a time when a gas hub, conceptualised during the first tenure of the NDA government, is yet to become a reality. The Indian Gas Exchange (IGX), set up by the Indian Energy Exchange (IEX), will offer the option of both, just […]
The spot price of liquefied natural gas (LNG) in Asia has surged by more than 20 per cent in one week after demand in key importers China and South Korea picked up. Several buyers have also canceled U.S. LNG cargoes, traders told Reuters The spot price at which several LNG cargoes have been traded have ranged […]
The falling demand of crude oil in the US market is likely to adversely impact investments made by Indian companies in the shale business in the US. American refiners closed some of their production, leading to futures trade benchmarked to the WTI going negative. Though WTI recovered, investment in alternative fuels like shale has become unviable. For […]
Asia’s seaborne coal markets stumbled in February 2020, Reuters reports. In addition to the coronavirus outbreak in China, the weakness in coal concentrated in other major importers of the polluting fuel. South Korea’s imports of both thermal and coking coal were particularly hard hit, dropping to 6.9 million tonnes in February from 11.4 million tonnes […]
OPEC’s Joint Technical Committee (JTC) recommended extending the current production cuts through the end of the year while adding an additional 600,000 bpd in reductions. Russia hesitated last week, before signaling some support for additional cuts. Still, nothing has yet been confirmed or approved. OPEC+ had raised expectations of an emergency meeting, rumored to take place as […]
