DeBeurs.nl

voda 29 juni 2018 16:01

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Vopak jaagt op LNG in Pakistan

(ABM FN-Dow Jones) Vopak zit achter een minderheidsbelang in de LNG-activiteiten van Engro in Pakistan aan. Dit schreef persbureau Bloomberg vrijdag, nadat Engro een bevestiging van de gesprekken zou hebben gestuurd naar de beurs in Pakistan.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved

voda 2 juli 2018 20:22

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Panama Canal lifts restrictions on LNG transits

In anticipation of LNG transit needs, the Panama Canal will lift self-imposed daylight and encounter restrictions on LNG vessels, Deputy Administrator Mr Manuel E. Benitez announced today during a press briefing at the World Gas Conference in Washington, DC. The changes will go into effect October 1, 2018, Panama Canal said in its press release.

Mr Benitez during a presentation, said that “Lifting daylight restrictions means LNG vessels will be able to transit the locks at night – as vessels in other segments currently do. Lifting encounter restrictions means LNG vessels will be able to navigate Gatun Lake at the same time, allowing two different LNG vessels to transit the Canal the same day in two different directions. Together, these changes will provide more flexibility and time during the day to transit LNG vessels, and result in an opportunity for LNG shippers to compete for a second booking slot.”

Currently, with these restrictions in place, the Panama Canal provides one dedicated reservation slot to LNG carriers per day. This equates to seven dedicated LNG booking slots per week. This is more than the current demand from LNG shippers, who average 5.5 transits per week. In addition to the one dedicated slot, the Canal frequently works with customers to transit vessels that arrive without a prior reservation, so long as the day’s vessel mix allows. The waterway has regularly transited two LNG vessels the same direction in the same day, and demonstrated the ability to transit up to three vessels the same day in the same direction during periods of uncharacteristically high demand.

Mr Silvia de Marucci, Executive Manager, Economic Analysis and Market Research Division at the conference, said that “By lifting these restrictions on October 1, the Canal will unleash even more capacity for LNG. In addition to the one reservation it guarantees each day, the Canal will soon offer LNG shippers, for the first time, the opportunity to compete among our wider vessel segments to book a second daily slot.”

The opportunity to compete for this new, second slot has never been available to LNG shippers before. And it will be offered on top of the Canal’s continued efforts to transit LNG vessels that arrive early for their reservations or without one altogether – a commitment to customer service which has been evident ever since the Expanded Canal unlocked the waterway to LNG in June 2016.

Over the past two years, the waterway has welcomed a total of 372 LNG transits. All LNG vessels that arrived with reservations were transited on time, except for one which arrived late. Of the 35 that arrived without a reservation, the Canal transited 30 of these ships the same day, and the remaining five transited with limited wait. Today, there is currently no wait for LNG vessels to transit the waterway.

The Canal’s decision to lift these restrictions follows it gaining considerable experience transiting LNG vessels the past two years. It also comes at an opportune time in the market. According to the Canal, LNG transits at the waterway are expected to grow by more than 50 percent by the end of FY 2018 compared to FY 2017, for which it stands ready to receive. The Canal currently – as it always has – provides more than enough capacity for LNG vessels and will continue to do so as demand grows.

As the trade of, and interest in, LNG continues to rise, these new measures will ensure the Canal remains one step ahead of demand and is able to offer the same service, flexibility and opportunity that it always has to keep global trade moving safely and swiftly.

Source : Strategic Research Institute

Bijlage:

voda 5 juli 2018 19:43

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ABS announces new LNG carrier offers capacity and performance improvements

ABS announced the ABS-classed Diamond Gas Orchid, the world’s first “Sayaringo STaGE” next generation LNG carrier, has been delivered to Diamond LNG Shipping, a joint venture between Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). ABS Senior Vice President and Chief Business Development Officer, Jamie Smith, said that “As a global leader in LNG, ABS is proud to support continued innovation in the sector and help advance another industry first. With newly designed cargo tanks and a hybrid propulsion, this next generation carrier can carry more LNG and minimize fuel costs.”

Ordered by Diamond LNG Shipping through MI LNG Company, Ltd., constructed by Nagasaki-based Mitsubishi Heavy Industries Marine Structure Co., Ltd. and delivered by Mitsubishi Shipbuilding Co., Ltd., the innovative carrier introduces significant improvements in both LNG-carrying capacity and fuel performance by incorporating a more efficient hull structure and an innovative hybrid propulsion system. The vessel is intended for operation in Louisiana, transporting LNG for the Cameron LNG project.

ABS Vice President for Japan, Akira Akiyama, said that “The Diamond Gas Orchid features the latest in marine innovation with its optimized transport capacity, fuel efficiency and environmental performance. Working closely with all of the stakeholders throughout the project, we were able to help Diamond LNG Shipping demonstrate the viability of the concept and develop a highly efficient and innovative vessel.”

The Diamond Gas Orchid has a continuous steel cover that reduces ship weight and air resistance while increasing LNG-carrying capacity. STaGE, an acronym derived from “Steam Turbine and Gas Engines,” is a hybrid propulsion system combining a steam turbine and engines fired by gas. Efficient use of the engines’ waste heat in the steam turbine results in substantial improvement in plant efficiency, enabling high-efficiency navigation throughout a full range of speeds. Diamond Gas Orchid is the first Sayaringo STaGE vessel to have both the next generation LNG cargo tank structure and propulsion system.

Recognizing the changing landscape and increased industry focus on gas, ABS launched its Global Gas Solutions team in 2013 to support industry in developing gas-related projects. The ABS Global Gas Solutions team provides industry leadership, offering guidance in liquefied natural gas (LNG) floating structures and systems, gas fuel systems and equipment, gas carriers, and regulatory and statutory requirements. ABS has extensive experience with the full scope of gas-related assets and has been the classification society of choice for some of the most advanced gas carriers in service.

Source : Strategic Research Institute

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voda 23 juli 2018 16:27

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Japanese LNG imports fall to lowest since May 2016 as nuclear units come online

Reuters reported that Japanese imports of liquefied natural gas (LNG) in June fell to the lowest in more than two years as the country's utilities switched on more nuclear reactors that had been shut in the wake of the Fukushima atomic disaster in 2011. Japan has six reactors operating and three others have passed safety inspections and could be operating by October, allowing utilities to switch away from LNG. Spot prices for the fuel rose to three-and-a-half-year high in June.

Japan, the world's biggest importer of LNG, brought in 5.55 million tonnes of the fuel in June, down more than 10 percent from a year earlier, official data showed. That was the lowest monthly import number since May 2016.

The data showed that imports of thermal coal also fell in June, down 18.3 percent from a year earlier, and the lowest since May 2017.

The Fukushima disaster in March 2011 sparked the country's worst energy crisis in the post-war period, forcing it to import huge amounts of LNG and driving prices to record highs. They also turned to cheaper coal imports.

All of the country's reactors were eventually shut down to be relicensed under new safety rules after the disaster highlighted regulatory and operator failings.

Nine out of 40 commercially operable units have been relicensed under the new rules. One of the three not operating has been shut down by a court order that expires in September, while the other two are under regular maintenance and refuelling and due to start operating within weeks.

Source : Reuters

voda 23 juli 2018 16:30

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Ennore LNG terminal to become operational by October - Indian Oil

ETEnergyWorld reported that Indian Oil Corporation (IOC), the nation’s largest fuel retailer, expects its upcoming 5 million tonne per annum Ennore Liquefied Natural Gas (LNG) terminal to start operations by October. The company is setting up the terminal at Ennore near Chennai in Tamil Nadu at a cost of Rs 4,300 crore and has also made a provision to scale up the capacity to 10 million tonne per annum (MTPA), if required.

IOC’s Director-Finance Mr A K Sharma said in a recent analyst call “The Ennore terminal is expected to be complete by October. The physical progress (of the project) is 92 per cent and we expect to complete in three months.”

Mr Sharma said that the company has already tied-up off-take agreements for 1.5 million tonne gas with consumers. IOC plans to connect the terminal to its Chennai Petroleum Corporation Limited (CPCL) refinery apart from facilities of Madras Fertilizers, Tamil Nadu Petro Products, Manali Petrol Products and other customers in the area.

The firm is also working on laying a 1,385 Km natural gas pipeline originating from the Ennore terminal to Nagapattinam in Tamil Nadu via Puducherry. The fuel retailer is also laying branch pipelines to Madurai, Tuticorin, and Bengaluru to meet the demand from multiple LNG consumers in the region.

He said that “As far as the pipeline is concerned, we are very hopeful that the major batch of the pipeline which consists of 23 kilometers primarily connecting the LNG terminal to our various customers in the area, will be completed on time.” The laying of the complete 1,385 Km pipeline will be carried out in phases.

Source : ETEnergyWorld

voda 24 juli 2018 17:10

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Mitsui announces Ice-Breaking LNG Carrier "Vladimir Rusanov" first call ceremony at PetroChina LNG Jiangsu Terminal

TOKYO-Mitsui O.S.K. Lines, Ltd. announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project(*1), made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July. A ceremony celebrating this milestone was held on 19 July.

At the end of March 2018, the vessel started transportation services for LNG produced by the Yamal LNG plant at Sabetta port in Russia (*2). For its latest voyage, the vessel departed from Sabetta port on 25 June, and had its first opportunity to navigate independently eastwards along the Northern Sea Route without ice-breaker support. The vessel passed the Bering Strait on 6 July(*3), and safely made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July. The net voyage time from Sabetta to Jiangsu excluding stoppages for adjusting arrival time was 19 days only - much shorter than time usually taken for a route through Suez Canal, that is, more than a month. This voyage also marked the first direct LNG delivery to China for the Yamal LNG Project.

On 19 July, a ceremony celebrating the vessel's first call at PetroChina LNG Jiangsu Terminal was held by the China National Petroleum Corporation (CNPC), the parent company of the terminal owner/operator, PetroChina Company Limited. This ceremony marked a new milestone for the Yamal LNG project and enjoyed the participation of many VIPs and personnel related to the project. These included Mr. Leonid Mikhelson of PAO Novatek, the major shareholder in the Yamal LNG project; Mr. Zhang Jianhua of CNPC; Mr. Alexander Novak?Minister of Energy for the Russian Federation; and Mr. Nur Bekri of the National Energy Administration (NEA) of China.

LNG, as a clean energy source, is drawing attention in China due to rising awareness of environmental issues. In 2017, LNG imports by China reached 38.13 million tones, an increase of 46 percent compared to the previous year. This makes China the world's second-biggest importer of LNG this year, overtaking South Korea. Furthermore, demand from China's LNG market is projected to increase significantly in the coming years.

MOL continues to work assiduously to contribute to reliable LNG transportation from the Yamal LNG plant. The company also works to maintain the strong, trusting relationship it has built with its Chinese partners through previous projects, and hopes, primarily through transportation, to continue playing a part in China's expanding LNG demand.

Source : Strategic Research Institut

voda 25 juli 2018 14:54

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Trump’s Trade War - Casts a long shadow over LNG shipping boom

Bloomberg reported that the booming market for liquefied natural gas can weather an escalating US-China trade war. But the risks are mounting. So far, LNG has been left off the growing list of tit-for-tat tariffs. If that changes, prices will rise and deter buyers just when new markets for the fuel are opening up, according to Mr Paul Wogan, the chief executive officer of LNG shipowner Gaslog Ltd.

Mr Wogan said in Rotterdam, where he oversaw the first European loading for new ship GasLog Hong Kong “My concern would be for higher pricing starting to destroy some of that demand. That’s not happening at the moment but things like tariffs adding to the cost of LNG wouldn’t be a good thing.”

The impact of duties on LNG, the world’s fastest-growing fossil-fuel commodity, would be particularly felt as the U.S. strives to become the world’s biggest exporter of the fuel and China drives global demand in its push for cleaner energy sources. The call for LNG ships has been booming, with China imports soaring 57 percent last year on a tonnage-per-mile basis.

But the trade dispute between the world’s two biggest economies is only worsening. President Donald Trump said Friday he’s “ready to go” with USD 500 billion in tariffs on Chinese imports. Earlier this this month he imposed charges on USD 34 billion of goods, prompting China to slap duties on commodities including U.S. propane and butane.

In Europe, a potential natural gas pipeline project from Russia has been imperiled by possible U.S. sanctions. European Union Commission President Jean-Claude Juncker meets with Trump this week in an effort to tamp down the escalating trade tensions.

Any effect from potential tariffs would be lessened if overall demand for LNG stays high, Wogan said. Trade flows can also be redrawn, with China swapping U.S. cargoes for Australian LNG normally bound for Taiwan, South Korea and Japan.

Mr Trevor Sikorski, the head of natural gas, coal, carbon at Energy Aspects Ltd. in London, said that “If even a 10 percent tariff is introduced, that would probably drive cargo swaps with the other northeast Asian buyers, although such swaps will add cost to delivered Chinese prices.”

Mr Sikorski said that in any case, the northeast Asian market will need U.S. volumes to meet demand, which means total American cargoes into the region should be unchanged.

Source : Bloomberg

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voda 25 juli 2018 15:20

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South Australia LNG import plan targets first gas in mid-2020

Reuters reported that a private firm is looking to import liquefied natural gas (LNG) to South Australia starting in 2020, around the same time as two other proposed import projects, looking to fill a supply gap as domestic gas gets sucked into LNG exports. Managing Director Mr Kym Winter-Dewhirst said that Venice Energy, set up by former BHP Billiton executives, plans to submit a development application to the South Australian government within the next month to park a floating storage and regasification unit (FSRU) in Port Adelaide.

He told Reuters in an interview that if regulatory approvals come through by March, construction could begin by June 2019. The project would be funded partly by Venice's owners, management consultancy Integrated Global Partners, with other equity sources which have yet to be lined up.

He said that "And then we could have first gas into the South Australian market by June/July 2020."

Source : Reuters

Bijlage:

voda 6 augustus 2018 17:06

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Sinopec's plan to expand its LNG terminal in east China's Shandong province

Reuters quoted the state energy firm as saying that Sinopec's plan to expand its liquefied natural gas terminal in east China's Shandong province has won a green light from the provincial government. The terminal, in the port city of Qingdao, will add two tanks each sized 160,000 cubic metres, and will thus have annual handling capacity of 7 million tonnes, the company said, without giving a timeline for the expansion

Sinopec, a latecomer to the LNG business among state-run oil and gas firms, started operating the first phase of the Qingdao terminal at end-2014, with annual handling capacity of 3 million tonnes.

Source : Reuters

voda 10 augustus 2018 15:24

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Goldman Sachs in talks to buy a tanker of LNG

Along a narrow inlet off the Gulf of Mexico, 2.8 billion cubic feet of natural gas rolls daily through the Sabine Pass plant, where it is cooled into a liquid and loaded onto tankers bound for Asia and South America. One may depart soon with the financial backing of Goldman Sachs Group Inc., a first for the Wall Street firm and a sign that its appetite for risk, though diminished since the crisis, hasn’t disappeared.

Goldman is in talks with Sabine Pass’s owner, Cheniere Energy Inc., to buy a cargo of liquefied natural gas, known as LNG, according to people familiar with the matter. Should a deal be struck—which is not a certainty—it would give Goldman a sought-after toehold in the LNG market, which is growing quickly as US natural gas production soars and many countries shift from coal power generation to natural gas.

American LNG exports quadrupled from 2016 to 2017 to 1.94 billion cubic feet a day, all of it coming from Sabine Pass, according to the U.S. Energy Information Administration. The U.S. is forecast to become the world’s second-largest exporter by 2022 as new projects start operating. Some analysts expect LNG trading to eventually resemble the crude oil market, one of the deepest in the world.

Goldman is under pressure to improve results in its commodities arm, which posted its worst year on record in 2017. The firm would look to quickly resell the gas to another party, some of the people said, which avoids the dangers associated with a weekslong ocean voyage but leaves Goldman bearing the risk if it can’t find a buyer or if prices swing. The average spot cargo leaving the U.S. is worth roughly $30 million at current prices, according to consultancy Wood Mackenzie.

Regulators have tried to push banks out of the commodities business, imposing heavy capital charges on such trades as part of the Dodd-Frank overhaul. Two years ago, the Federal Reserve urged Congress to revoke a special exemption that since 1999 has allowed Goldman and Morgan Stanley to engage in a wider range of commodities activities than other banks. It warned that legal liability stemming from an oil spill, for example, could be crippling enough to endanger the entire financial system.

Wall Street firms have pulled back in response, particularly in physical commodities, as opposed to the paper contracts that are traded alongside them. Morgan Stanley in 2015 sold its oil marketing and storage business, which included a fleet of tankers. Goldman sold its metals-warehousing unit, and in 2014, JPMorgan Chase & Co. sold most of its commodities business to Mercuria Energy Group.

Source : Wall Street Journal

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voda 10 augustus 2018 15:47

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China's CNOOC expands Hainan LNG terminal to boost gas sales to trailers

Reuters reported that China's CNOOC is expanding its liquefied natural gas receiving terminal in southern province of Hainan to boost sales of gas carried by trucks or smaller tankers, ahead a demand surge in winter. The expansion, expected to completed by end of October, will lift the terminal's annual handling capacity of 1.32 million tonnes, without giving a comparison of its current capacity.

Last winter China, the world's second-largest LNG importer, experienced a rare boom of gas hauled by trailers as these trucks filled a logistics gap.

Source : Reuters

voda 25 september 2018 16:55

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'Rusland kan productie lng verviervoudigen'

Gepubliceerd op 25 sep 2018 om 07:35 | Views: 1.989

JOEZJNO-SACHALINSK (AFN) - Rusland kan de productie van vloeibaar gemaakt aardgas (lng) tot 2035 verviervoudigen. Dat heeft het Russische ministerie van Energie gezegd, meldt het Russische persbureau TASS. De huidige productie bedraagt 21 miljoen ton. Dat kan stijgen tot 83 miljoen ton.

Om die stijging te bewerkstelligen, wil de Russische overheid de productie van lng stimuleren. Op die manier zou het huidige Russische marktaandeel van 4 tot 5 procent moeten stijgen naar ongeveer 20 procent.

Lng is een relatief schone fossiele brandstof en wordt gezien als een mogelijke vervanging voor scheepsbrandstof en diesel.

voda 1 oktober 2018 16:54

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'Shell en partners dichtbij Canadese LNG-deal'

Gepubliceerd op 1 okt 2018 om 06:50 | Views: 1.821

Royal Dutch Shell A 16:35
29,76 +0,19 (+0,63%)

VANCOUVER (AFN/BLOOMBERG) - Olie- en gasreus Shell en vier Aziatische partners staan op het punt om een enorm lng-project (vloeibaar gemaakt aardgas) in Canada definitief goed te keuren. Dat meldde persbureau Bloomberg op basis van ingewijden.

Met het lng-project in British Columbia, LNG Canada, is een bedrag gemoeid van 40 miljard Canadese dollar (27 miljard euro). Naast Shell staan Petroliam Nasional, Mitsubishi, PetroChina en Korea Gas aan de wieg van de opdracht.

De deal, waar al tijden over wordt gesproken, zal mogelijk maandag al ondertekend worden. PetroChina en Korea Gas hebben vrijdag al de investeringsbeslissing genomen.

voda 2 oktober 2018 16:36

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Boskalis aan de slag met Canadees vloeibaar aardgasproject

(ABM FN-Dow Jones) Boskalis gaat aan de slag met de baggerwerkzaamheden voor een exportterminal voor LNG Canada, nu de joint venture van onder andere Royal Dutch Shell de investering definitief doorzet. Dat maakte het baggerbedrijf dinsdag bekend.

Het contract heeft een waarde van ongeveer 100 miljoen euro. Boskalis gaat vervuilde en niet-vervuilde grond verwijderen op de locatie waar de LNG-exportfaciliteit gebouwd gaat worden. Daarvoor zullen een sleephopperzuiger, een snijkopzuiger, een backhoe dredger en een kraanponton worden ingezet.

Het werk duurt tot en met 2020, verwacht de baggeraar.

LNG Canada is een joint venture van Shell, Petronas, PetroChina, Mitsubishi en Korea Gas, voor het verwerken van vloeibaar aardgas. De Brits-Nederlandse energiereus Shell heeft een belang van 40 procent in het project, dat volgens persbureau Bloomberg een investering van 31 miljard euro inhoudt. Shell meldde dinsdagochtend te hebben besloten dat de investering definitief doorgaat.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved

voda 2 oktober 2018 16:52

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Beursblik: Shell geeft leidende positie LNG niet op

(ABM FN-Dow Jones) Royal Dutch Shell is niet van plan zijn leidende positie in de LNG-markt op te geven nu de markt zich opmaakt om aan de stijgende vraag te kunnen voldoen. Dit concludeerden de analisten van UBS, in reactie op het definitieve investeringsbesluit van de Brits-Nederlandse energiereus om te investeren in een vloeibaar aardgas project in Canada.

Het dinsdag voorbeurs aangekondigde investeringsbesluit was volledig conform de verwachting, aldus UBS.

"Nadat Shell een leidende positie in de LNG-markt opbouwde door de acquisitie van de LNG-activiteiten van Repsol in 2014 en de overname van BG in 2015/2016 verwachtten wij niet dat het concern zijn leidende positie zou opgeven, terwijl de sector zich opmaakt voor de opkomende kloof tussen vraag en aanbod per 2023", aldus de analisten van UBS.

LNG Canada heeft volgens UBS het voordeel van een korte afstand tot de belangrijkste noordoost-Aziatische markt en goedkope leveringskosten, ondanks een complexe en potentieel dure pijpleiding en de uitdaging van het beheer en onderhoud van een groot industrieel project op een afgelegen locatie.

UBS handhaafde het koopadvies op Shell. Het aandeel Shell noteerde dinsdag op een rood Damrak 0,6 procent hoger op 84,70 euro.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved. A

voda 9 oktober 2018 16:34

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Shell-baas voorziet lng-tekorten

Gepubliceerd op 9 okt 2018 om 13:32 | Views: 2.397

Royal Dutch Shell A 16:08
29,52 +0,24 (+0,82%)

LONDEN (AFN/BLOOMBERG) - Shell-baas Ben van Beurden verwacht in het komende decennium de nodige tekorten in de markt voor vloeibaar gemaakt aardgas (lng). Dat zei de topman tijdens een congres in Londen. Volgens hem is er meer nodig dan recente investeringen die zijn gedaan om aan de groeiende vraag naar lng te kunnen voldoen.

Shell stak onder meer de nodige miljarden in Qatarese en Canadese lng-projecten. Hij verwacht dat duurzame energiebronnen, waaronder dus lng, een steeds grotere rol zullen gaan spelen in de portfolio van de olie- en gasreus.

De vraag naar aardgas zal volgens het bedrijf jaarlijks met 2 procent stijgen. Vloeibaar gemaakt aardgas zal jaarlijks 4 procent meer vraag kennen, aldus Shell.

Van Beurden noemde een jaarlijkse investering door Shell van 2 miljard dollar in hernieuwbare energie gerechtvaardigd. Circa een derde van de investeringen van Shell worden in aardgas gestoken.

voda 10 oktober 2018 16:27

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China's CNOOC to expand Jiangsu Binhai LNG project

State-media China News citing a project manager from CNOOC as saying that China's CNOOC plans to expand its LNG project in eastern Jiangsu province to meet rising demand from more regions. CNOOC will lift the storage tank facility of each of the four tanks linked to the Jiangsu Binhai LNG receiving terminal to 220,000 cubic meters, up from 160,000 cubic meters. Total investment in the project rose to CNY 17 billion, up from CNY 14.4 billion. The report said that the terminal and its storage tanks will be able to serve a broader region including the provinces of Jiangsu, Anhui, Henan and Shandong, where the government is switching winter heating fuel to gas from coal.

Mr Chen Jiong, a project manager for the Binhai project, said that the first phase of the project, with a supply capacity of 3 million tonnes, will be completed in September 2021.

Source : Reuters

voda 15 oktober 2018 20:59

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China's axing US LNG amid trade war, bringing Trump's gas dream to naught

Sputnik reported that the Trump administration has shot itself in the foot by tightening the screws in the US-China tariff war: Beijing is turning its back on American liquefied natural gas (LNG) in response to Washington's third round of tariffs. The move is especially painful for the US, as it had projected to jump on the bandwagon of the booming Asian gas market. It appears that China has found the US' sore spot: Beijing has dramatically diminished the acquisition of American liquefied natural gas (LNG) while US crude oil shipments to the country have completely stopped in recent weeks, according to China Merchants Energy Shipping Co (CMES).

The main reason behind China's change of heart is Donald Trump's trade war on the country. Starting from September 24th, US President Mr Donald Trump imposed tariffs on USD 200 billion more in Chinese goods, marking the third round of the Sino-American tariff spat. Beijing's response wasn't long in coming: China retaliated with levies on USD 60 billion in American goods, including a 10-percent tariff on the US LNG.

However, US LNG exports to China have started declining amid the trade spat: "Prior to the slowdown, China was on track to import 141.6 billion cubic feet (bcf) of US LNG in 2018, up from 103.4 bcf in 2017 and 17.2 bcf in 2016," Reuters highlighted.

According to Thomson Reuters vessel tracking and US Department of Energy data, China is now on track to buy "less than 100 bcf of US LNG in 2018." Thus far, US LNG supplies in 2018 have accounted for just 5 percent of total Chinese LNG imports. For comparison's sake, in 2017 China acquired about 15 percent of all US LNG shipped in 2017.

China's blow is especially painful for the Trump administration, as it is increasingly promoting US LNG worldwide. In March 2018, Secretary of Commerce Wilbur Ross called upon Beijing to buy more American super-chilled fuel to cut the trade deficit gap with the US.

Ross told Bloomberg TV on March 22 "China needs to import very, very large amounts of LNG and from their point it would be very logical to import more of it from us, if for no reason other than to diversify their sources of supply."

The Trump administration has long sought to beef up the US presence in the growing Chinese energy market. According to the International Energy Agency (IEA), Chinese gas demand is set to grow by 60 percent between 2017-2023 reaching 376 billion cubic meters (bcm). Having focused on cutting CO2 emissions, China has already outpaced Japan as the largest natural gas importer in the world.

Seeking to jump on the bandwagon of Asia's booming gas market, the US has boosted its LNG industry. The US Energy Information Administration (EIA) forecasted in December 2017 that the US' five additional LNG projects were expected to increase total US liquefaction capacity to 9.6 billion cubic feet a day (bcf/d) by the end of 2019, from 2.8 billion bcf/d in August 2017.

In July 2018, Forbes foresaw that China would need more US LNG even though Beijing was inclined to increase imports of Russian gas through the Power of Siberia pipeline: "Yes, Russia will be a key supplier, but pipeline supplies from Gazprom simply won't be enough to dim the bright future for US LNG in China," wrote Jude Clemente, a Forbes energy contributor.

Source : Sputnik

voda 17 oktober 2018 20:08

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Global LNG shipping fleet poised for record growth

The global fleet of liquefied natural gas carriers is slated for record growth this year as LNG becomes easier to trade and US exports ramp up. Shippers, traders and energy companies are expected to take delivery of more than 70 new LNG carriers in 2018, according to a report by S&P Global Platts. Fleet owners ordered 28 large carriers during the first seven months of the year, compared to only 26 in 2016 and 2017 combined.

The growth is largely driven by natural gas demand in China and other Asian countries where environmental concerns have forced a shift away from coal-burning power sources. In the US, roughly a dozen new export terminals - including six in Texas - are in the works to serve that market and others. The surge in supply and demand, the Platts report said, is helping to create a more transparent LNG market similar to oil and other commodity markets. It noted that long-term LNG contracts are beginning to give way to shorter, more flexible deals, with nearly a third of global transactions conducted on a spot or short-term basis.

Traders, as a result, are taking a larger role in the marketplace, helping drive demand for new ships. Houston LNG producer Cheniere, for example. this year signed deals to sell liquefied natural gas to Swiss energy traders Vitol and Trafigura.

Source : Strategic Research Institute

voda 19 oktober 2018 16:06

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Royal Dutch Shell gas project gets greener amid LNG climate worry in Canada - Report

Reuters reported that at a massive natural gas field in northern British Columbia, Royal Dutch Shell is using new technologies and processes to cut emissions to address public and environmental group concerns that Canada's nascent liquefied natural gas export industry could be a climate time bomb. The Groundbirch project, perched above Canada's richest shale gas deposit some 1,110 kilometers (684 miles) northeast of Vancouver, includes four gas plants and 500 wells dotted over an area the size of New York City. Shell has already slashed project emissions by moving its newest gas plant to hydro-electric power and replacing diesel with natural gas in drilling, and is now tackling methane with new electric components and a fuel cell trial. There is a considerable body of research showing natural gas is far cleaner than coal, but only so long as methane emissions are contained. Methane is many times more potent than carbon dioxide, though the industry produces far less of it.

However, groundbirch will eventually send gas hundreds of miles west to the Shell-led LNG Canada export terminal approved this month, where it will be cooled for exporting. LNG Canada is being touted as the world's cleanest major LNG plant.

LNG demand is booming, as countries like China swap out coal plants for gas in the battle against choking pollution. But environmental groups say exports will boost carbon emissions in Canada, both through gas extraction and the liquefaction process. They warn that this could derail British Columbia's pledge to cut greenhouse gases by 40 percent by 2030 and test Canada's vow to cut emissions nationwide by 30 percent from 2005 levels by 2030.

Jens Wieting, a campaigner with Sierra Club BC, said that "There's no way to produce energy using gas without emissions. Considering methane leakage, it's very difficult to make any statement that gas is any better than coal."

Methane, the main component in natural gas, is released into the atmosphere mostly from the venting of unburned gas and through leaks in gas infrastructure like wells or pipelines.

Estimates of the carbon impact of LNG Canada from wellhead to port vary; the British Columbia government pegs it at 3.45 million tonnes (Mt) per year, while environmental groups say it could be as high as 12 Mt. The province expects to cut emissions to about 40 Mt by 2030 and 13 Mt by 2050 from 61.6 Mt in 2015.

Source : Reuters

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