US LNG costs are falling quickly, making the fuel more cost-competitive in global markets, including in Europe, officials said. Clark Price, Minister-Counselor for Economic Affairs at the US Embassy in Berlin, said Thursday that US LNG was becoming more economic, with costs set to continue to fall...
General Energy News
Central Asia-China gas pipeline to hit maximum capacity – PetroChina
* China oil major PetroChina says the Central Asia-China gas pipeline will supply 160 million cubic metres of gas per day this winter, its highest ever level * The pipeline will be operating at 100 percent utilisation rate, said the company on its website on Monday * The announcement comes as China...
Both Russian and U.S. gas are in Germany’s future energy mix – official
Germany will likely be a buyer of liquid natural gas from the United States in the medium term, the government official tasked with trans-Atlantic relations said on Friday, but not as a result of any threats from Washington. Peter Beyer, Berlin’s coordinator for relations with North America said...
U.S. utilities could inject lots of natgas into storage in November
U.S. utilities could inject natural gas into storage in November for the first time since 2011, according to analyst projections, cutting the vast storage deficit that exists versus normal levels for this time of year. Utilities and others could stockpile a record 111 billion cubic feet (bcf) of...
Asian spot LNG prices up 5.15% week on week
Asian spot LNG prices increased by 5.15% last week from the previous week. They averaged $10.21/MMBtu on 26 October compared with $7.76/MMBtu a year ago. Prices for trucked LNG fell by 1.04% week on week in Beijing, Hebei and Shandong after plants in Hebei and Shandong cut their ex-works prices....
https://www.hellenicshippingnews.com/asian-spot-lng-prices-up-5-15-week-on-week/
Japan’s Osaka Gas looks to Southeast Asia for LNG business
Japan’s Osaka Gas Co Ltd is considering expanding its Southeast Asia operations, a top executive said, tapping a region where natural gas demand is booming but domestic reserves are dwindling fast. Osaka Gas, one of the world’s biggest gas utilities and importers of liquefied natural gas (LNG), is...
https://www.hellenicshippingnews.com/japans-osaka-gas-looks-to-southeast-asia-for-lng-business/
ExxonMobil Starts New Unit at Antwerp Refinery to Produce High-Value Transportation Fuels: Will help meet demand for cleaner fuel oil required by the International Maritime Organization
ExxonMobil said that it has started operations of a new unit at its Antwerp refinery in Belgium to convert heavy, higher-sulfur residual oils into high-value transportation fuels such as marine gasoil and diesel. The new 50,000 barrel-per-day unit expands the refinery’s capacity to meet demand for...
Trump plays a part as Asia’s diesel profits surge, gasoline plummets: Russell
It may be stretching the bow too far to blame Donald Trump for the collapse in the profits Asian refiners get for making gasoline, or indeed for the surge in diesel profits, but the policies of the U.S. president are certainly playing a role. The profit margin on producing 92-octane gasoline at a...
Japan LPG stocks rise 15% on month to 1.587 mil mt at end September
Japan’s LPG stocks rose 15.3% month on month to 1.587 million mt at the end of September, while demand continued to decline and imports edged lower, data released Tuesday by the Japan LP Gas Association showed. Propane stocks rose 21.7% on the month to 1.067 million mt, while butane stocks rose...
Gulf countries need to adjust natural gas supply strategy on rising power demand: IEA
The countries of the Gulf Cooperation Council need to rethink their natural gas supply strategy in the next decade on the back of rising domestic power demand, the International Energy Agency said in its Outlook for Producer Economies 2018. GCC domestic gas demand up two-and-a-half times since 2000...