Welcome to the LNG & Gas Hub Weekly Roundup. This week we are delighted to announce the launch of our new weekly podcast, The LNG Wrap. In this new content offering from the World LNG & Gas Series, industry expert Pat Roberts rounds up key LNG & Gas moments from the week and discusses what they mean for the industry. There are now two episodes for you to catch up on here, covering a potential phasing out of ‘lock-down’, opportunities that low gas prices can bring and, of course, China.
This week in the news:
The May edition of the TPLNG outlook looks at energy demand and how prices are heading down in a way we haven’t seen before. Called “When the World turns Upside Down” this edition looks at Global LNG: what actually happened in Q1 2020 and some trends that are emerging for Q2 Q4 and the possible use of Force Majeure clauses in term contracts.
Asian LNG spot prices have recorded a jump of at least 20% in the last week. This sudden spike in prices is the result of a resurgence in demand occurring in Asia, while the rest of the world is in the process of cutting back on production, as a result of the impact of the COVID-19 coronavirus pandemic.
According to a report by energy consultancy EnergyQuest, Australian LNG projects shipped a total of 6.9 million tones in April. The volumes were delivered onboard 101 cargoes.
Royal Dutch Shell said all conditions had been met for its final investment decision (FID) on a new LNG processing unit at Nigeria LNG, a project known as the Train 7 expansion.
The Wärtsilä Technology Group announced that it had successfully completed the delivery of three large-scale regasification modules for the first floating LNG storage and regasification unit (FSRU) built in China.
LNG: Intercontinental to inter-regional? Price differentials are threatening the economics underlying global LNG arbitrage. But the lower prices may unlock competition within regions.
As always, keep checking the LNG & Gas Hub throughout the week for new content from industry experts and if you’d like to be involved in future roundups, or with our content on the LNG & Gas Hub, please get in touch with Tori by emailing email@example.com
Wishing you a lovely weekend and hope you're all staying safe.
About the Author
She led the marketing on the WLNG 20th anniversary campaign in Rome last year
She lives in South London with her boyfriend and thoroughly enjoys a pub quiz – albeit online currently!