Month: April 2020

As the whole world is forced into lockdown and soot-producing factories and vehicles have come to a halt, scientists can’t help but investigate the impact this is having on The Ozone Layer of our planet. The Ozone is a protective layer made of mainly O3 particles found approximately 20 to 30 kilometres above the Earth’s surface. It protects our planet from harmful UV radiation coming from the Sun; these rays help increase the overall temperature of our planet, causing global warming, and are carcinogenic (cancer-causing agents). In 1987, 197 countries came…

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Singapore’s biggest buyer of liquefied natural gas is poised to take a major step toward squeezing down pollution from the fuel — on paper at least. Pavilion Energy Pte Ltd. is asking sellers of LNG to quantify greenhouse gas emissions associated with each LNG cargo produced, transported and imported into Singapore. It’s also encouraging bidders to offer carbon offsets as part of sales deals. The terms are attached to a major tender for LNG purchases that will stretch more than five years into the future. They’re the first and most…

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Liquefied natural gas traders are following the latest trend in the oil market by storing huge amounts of the commodity on tankers, hoping prices will rise before the ship docks. But while crude can sit for months or even years in a tank, super-chilled LNG tends to evaporate even in the specialized vessels that handle it. That limits the amount of time “floating storage” is feasible. “Keeping gas frozen is extremely expensive because of the energy cost to maintain the ultra low minus-265-degree Fahrenheit temperature,” said Francisco Blanch, head of…

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In a less spectacular fashion than oil, international natural gas prices have fallen. The explanation goes far beyond low demand related to the COVID-19 pandemic or demand in general. It relies on a much larger and more complicated array of factors that include supply and demand and oil pricing. Disentangling those various considerations can be helpful when trying to assess future developments in natural gas trade.   In the past, international trade in natural gas was based on mostly pipeline transportation from a limited number of regional, often dominant, suppliers. LNG was…

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OPEC will invite the U.S. oil regulator to take part in the emergency OPEC+ video meeting on Monday, a source involved in the preparation of the meeting told Russian news agency TASS on Friday. The OPEC+ group of producers will meet online on April 6 to discuss a possible massive production cut of around 10 million bpd, according to several media reports. However, the OPEC+ coalition would likely want all major producers in the world to take part in a collective cut, including producers such as the United States, Canada, Brazil, or…

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