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AGH Bulletin #24

Indian Oil To Double Ennore LNG Terminal’s Capacity To 10 MTPA IOC aims to expand the LNG terminal capacity at Ennore in southern India to 10 million ton per annum (MTPA) amid the demand for gas in the country. India wants to increase the share of gas in its energy mix to 15% by 2030, as part of an effort to cut emissions. IOC hopes to boost local sales of gas to 20 mtpa by 2030, a substantial…

AGH Bulletin #23

Sinopec Puts World’s Largest LNG Storage Tank Into Operation. China Petroleum & Chemical Corporation (Sinopec) has revealed that the world’s largest LNG storage tank was put into operation at its Qingdao LNG receiving terminal in China. The construction of the tank with a storage capacity of 270,000 cubic meters began in early 2022 and it was put into service on November 2, 2023. Sinopec will add…

AGH Bulletin #22

Chevron In Talks On 15-Year LNG Supply Contracts Into Europe. Chevron is negotiating contracts to supply LNG into Europe for up to 15 years as buyers expect the region to rely on imports for longer than previously thought. The new willingness by buyers to agree on long-term supply deals comes after several European government tolled back some green policies citing higher costs…

AGH Bulletin #21

China’s CNOOC, French Energy Firm Engie Complete Settled LNG Trade. Chinese national oil company CNOOC and French energy company Engie have completed a yuan-settled liquefied natural gas (LNG) trade through the Shanghai Petroleum and Natural Gas Exchange. The transaction was done on the international LNG trading platform, with a cargo of about 65,000 metric tons of LNG will be…

AGH Bulletin #20

Gazprom Delivers Its First LNG Via Northern Sea Route Russia’s Gazprom has announced that its own-produced shipment of LNG at the complex near the Portovaya CS was completely unloaded on September, from the Velikiy Novgorod LNG tanker at the Tangshan LNG Import Terminal in China.Gazprom noted it was the first time its own-produced LNG was delivered via the Northern Sea Route…

AGH Bulletin #19

Saudi Aramco Enters International LNG Market. Saudi Aramco is entering the global LNG business by signing the definitive agreement to buy a minority stake in LNG company MidOcean Energy for USD500 million, which is in the process of acquiring interests in four Australian LNG projects.MidOcean Energy is formed and managed by EIG, an institutional investor in the global energy and…

AGH Bulletin #18

World’s Largest LNG Carrier Design Earns Second Class Approval in Principles (AiP) The second class AiPwere received by CSSC Hudong-Zhonghua Shipbuilding for its design with a carrying capacity of 271,000 cubic meters, by Bureau Veritas during the Gastech 2023 conference in Singapore, where the first AiP was also announced. Bureau Veritas provided additional details on the design…

AGH Bulletin #17

U.S To Remain Dominant In Global LNG Markets The United States will remain the dominant player in the global LNG market in terms of capacity additions over the next 4 years, accounting the bulk of 60% of new capacity additions for North America as a whole.Latest forecast by GlobalData that North America will in 2027 have some 284.1 million tons of annual LNG liquefaction capacity…

AGH Bulletin #16

The Indian Government-backed gas supplier, Gas Authority of India Ltd. (GAIL) is in the final stages of closing a LNG supply deal with Qatar Energy, according to industry insiders cited by Reuters. This agreement will involve India purchasing at least 1 mtpa of LNG and could extend for more than 20 years. India’s pursuit of energy agreements is part of a broader strategy to…

AGH Bulletin #15

Pakistan Is Ready For LNG Purchase Deal With Azerbaijan On Flexible Terms Pakistan has signed a framework agreement with Azerbaijan for the import of low-cost LNG on flexible terms for a period of one year, which the country has described as “major milestone”. Under the agreement which was signed between the Pakistan LNG Limited (PLL) and…

AGH Bulletin #14

Qatar Expects Record Volume Of LNG Offtake Signings This Year. About 40% of new global LNG output will come from Qatar by 2029, said Minister of Energy Saad al-Kaabi at the LNG 2023 conference in Vancouver. The country last year approved expansion projects that will boost its LNG output by 64% to 126 million tons per year by 2027. The 40% estimate was based on…

AGH Bulletin #13

China Set To Be The World’s Top Importer of LNG. The Chinese government continues to back efforts by state-owned buyers to sign long term LNG contracts and even invest in export facilities, in order to bolster energy securitythrough the middle of the century. The nation is on track to be the world’s top importer ofLNG in 2023. Long-term LNG contracts are…

AGH Bulletin #12

Iran Plans To Create A Regional Natural Gas Hub. Iran is looking to set up a natural gas hub in the Persian Gulf and is cooperating with Russia, Qatar and Turkmenistan to that end. The main location of the plan is Asaluyeh region, which is a port and energy hub in the southern
Bushehr province in the Gulf. The country will…

AGH Bulletin #11

QatarEnergy signs 15-year LNG supply agreement with Bangladesh. The long-term LNG sale and purchase agreement (SPA) was signed between QatarEnergy Trading with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) to supply about 1.8 mtpa of LNG, starting in 2026. With this new SPA, QatarEnergy reaffirms its position as the LNG supplier…

AGH Bulletin #10

PTT, Thailand’s largest oil and gas conglomerate, is planning to import up to 6 million tonnes of LNG this year due to surge of demand. The drop in the LNG spot prices is also one of the factors which likely to bring down the cost of electricity in the country. 2. This import exercise will be 2 millions tonnes higher than the amount imported last year and about 4 million…

AGH Bulletin #9

The world’s biggest oil company is investing billions in gas production as the kingdom has some
of the world’s biggest gas reserves but barely exploited them in the past. Much of Saudi Arabia’s additional gas will come from Jafurah, one of the world’s largest untapped fields. The world’s biggest oil company is investing….

AGH Bulletin #8

Volumes of LNG stored at sea increased on an annual basis this month, driven by more vessels in Asia amid high inventories and slow spot demand in Japan, China and South Korea. Additional supplies of the super-chilled fuel could further weigh on Asian spot prices, providing
some relief ahead of summer when demand….

AGH Bulletin #7

Vitol Asia, a supply and trading unit of Energy trader Vitol is delivering the first cargo of LNG to the Philippines in mid-April. This cargo will be used to cool down the floating storage unit, Ish, and commission the country’s first LNG import terminal in Batangas Bay near Manila. The LNG power generation from the 1,200 MW Ilijan power plant….

AGH Bulletin #6

The main existing competitor in the Pacific for Qilak LNG will be volumes from Yamal LNG of Russia. Yamal has a technical capacity of 16.5 MTPA, with at least 20-30 shipments from the Novatek led Yamal LNG project bound for Asia last year. LNG Canada, which is 25% owned by PETRONAS, whose liquefaction trains will be capable of….

AGH Bulletin #5

Australia’s east coast liquefied natural gas (LNG) exporters may need to divert excess gas supply for domestic customers to stave off any potential supply shortages this winter in the country’s south. Despite increased production commitments from the industry since last year, the supply in southern Australia is declining…

AGH Bulletin #4

Energy players and stakeholders are gathered in Houston this week for CERAWeek conference themed Navigating a Turbulent World: Energy, Climate and Security. Energy transition steals the limelight. Cheniere Energy expects to ship more liquefied natural gas (LNG) to Asia this year. The Federal Energy Regulatory….

AGH Bulletin #3

It was expected that LNG spot price in Asia would fall to USD10/MMBtu this week, however the price still remains in the range of USD14/MMBtu and is expected to continue to do so until next week. The market is still quiet with no transactions confirmed. It is believed that the market in Asia is watching the situation in Europe….

AGH Bulletin #2

LNG spot prices is forecasted to be further dip below USD13/MMbtu in Asia Pacific starting for May deliveries, however it might rebound as it approaches winter due to solid demand from buyers. There is no indication on whether sellers have cargoes to offer in March and April However there are still ongoing….

AGH Bulletin #1

Europe and Asia LNG spot prices are expected to go down further until summer ends, but it will rebound to USD20-25/MMBtu by winter, lower than last year. • Buyers particularly in North Asia and Europe are keeping high inventory level since late year due to uncertain ongoing tension in Ukraine; gas delivery suspension….

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