Tag: LNG

Private Sector Demands Allocation of Indigenous Gas Amid LNG Glut

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LNG

ISLAMABAD: The private sector has urged the government to allocate surplus indigenous gas to private shippers, arguing that continued curtailment in favour of imported LNG is damaging both producers and consumers. Industry players note that reluctance to lift LNG cargoes has created a market glut, forcing several cargo diversions. Meanwhile, local gas supplies have been curtailed by 300–400 mmcfd, causing losses estimated at Rs12 billion for exploration companies. Although the government earlier raised third-party allocation from 10% to 35%, the policy has yet to be implemented, frustrating private shippers. Exploration…

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US natgas prices rise on lower daily output

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Gas

NEW YORK: US natural gas futures climbed about 3 percent to a one-month high on Wednesday on a recent drop in daily output. That price increase came despite ample supplies of gas in storage, a small decline in flows to liquefied natural gas (LNG) export plants, mild weather and forecasts for lower demand next week than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 8.0 cents, or 2.7 percent, to USD3.089 per million British thermal units at 8:44 a.m. EDT (1244 GMT), putting…

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Global LNG: Asian spot prices gain on geopolitical tensions, rising temperatures

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LNG

SINGAPORE: Asian spot liquefied natural gas (LNG) prices saw gains this week as rising temperatures in the northeast part of the region led to some pick-up in demand, and as escalating geopolitical tensions in the Middle East raised concerns about supply disruptions. The average LNG price for July delivery into north-east Asia was at $12.60 per million British thermal units (mmBtu), up from $12.30/mmBtu last week and its highest levels since early April, industry sources estimated. The average price for August delivery was estimated at $12.70/mmBtu. Following Israel’s attack on…

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India’s GAIL sells LNG cargo as early monsoons cause weak power demand, say sources

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lng

SINGAPORE: GAIL (India) Ltd has re-sold one liquefied natural gas (LNG) cargo this week, said three market sources on Friday, as the state-run firm’s storage tanks for the fuel are full amid weak power demand in India. Fewer LNG imports by GAIL, the country’s largest gas distributor, could reduce India’s overall appetite for the super-chilled fuel. India is the world’s fourth largest LNG buyer, importing about 26 million metric tons last year as it goes through rapid urbanisation and industrialisation and to meet growing power demand. However, GAIL’s LNG tanks…

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WGC-TotalEnergies CEO will propose lifting force majeure on Mozambique LNG project

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totalenergies

BEIJING: TotalEnergies plans to propose to the Mozambique government to lift the force majeure on its liquefied natural gas (LNG) project there and plans to resume construction by mid-summer, CEO Patrick Pouyanne said on Tuesday. TotalEnergies sells 50% stake in Polish biogas company to HitecVision The French energy major is also looking at reducing the capital expenditure of its Papua LNG project by 20%-25%, he told Reuters on the sidelines of the World Gas conference.

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