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Mejillones Moves To Tolling As Consumers Look Elsewhere
July 01, 2011 |
| The shift to a tolling business model appears to be an attempt both to pre-empt growing pressure from Chilean regulators and to placate major gas users, who will have the opportunity to procure and import their own LNG instead of relying on GDF Suez. |
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UK High Summer Prices, Softening Seasonal Spreads
July 01, 2011 |
| Traditionally, utilities draw down gas from storage during the winter months, building them up again in the summer, when gas is available at a seasonal discount. This year, however, that ebb and flow between seasons and storage is not reflected in prices. |
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“Ponzi Scheme” Keeps US Market Well Supplied
July 01, 2011 |
| Conjuring up images of the dot-com bubble of the late-1990s, the industry leveled charges of unprofessional journalism against a story by the New York Times claiming shale gas was just a giant Ponzi scheme. Regardless, prices remained just above $4.00/MMBtu by month end. |
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Summer Strength Continues for Charters and Spot Prices
July 01, 2011 |
| Hopes of spot LNG buyers for some sustained relief from high prices this month proved short-lived. A cargo sold into Argentina at $15/MMBtu and charter rates for LNG carriers have now reached $100,000 per day. |
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NBP Steady In Spite Of Ample Supplies, Lower Oil Prices
July 01, 2011 |
| Prices at the UK’s National Balancing Point are remaining stubbornly high at over $9/MMBtu, this represents about a $4/MMBtu discount to spot prices in Asia. This is contributing to a modest slowdown in LNG deliveries into Europe, with 88 cargoes coming into the market in June, down from 98 in May and 108 in April. |
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Abu Dhabi Advances Replacement Train
July 01, 2011 |
| Abu Dhabi plans to install a new 3.3 MMt/y LNG train that will replace two of the three older ones, each with a capacity of 1.25 MMt/y and are now more than 30 years old. Startup of the new unit is scheduled for 2018. |
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Petronas Builds Complex LNG Portfolio
July 01, 2011 |
| Petronas is creating a complex LNG portfolio investing in liquefaction projects both domestically and abroad and in import terminals in its home market. The Malaysian firm has announced plans for a floating production unit in its home waters and is expanding its global unconventional gas footprint with a Canadian shale gas investment. |
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Southern Cone LNG Takes Off
July 01, 2011 |
| The three importing nations of the southern cone, Argentina, Brazil and Chile, imported a combined 3 MMt so far this year, an 81% increase from the same period last year, with buyers paying premium prices for scarce cargoes. |
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In Briefs -- June 2011
July 01, 2011 |
Encana, PetroChina End Shale Gas Talks
Russia, China Fail To Agree Giant Gas Deal
Inpex Nears Ichthys Sell-out
Israel Electric Gets Go Ahead To Lease Regas Vessel
Jordan Eyes LNG Terminal
EPC Contractors Selected For French Terminal
Sendai To Resume Operations By Year-end
Chile's GasAtacama Mulls Floater
Italy Delays Gas Balancing
Jamaica Back To Square One |
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Gas Demand Surges As China Faces Power Shortage
July 01, 2011 |
| China’s gas imports hit a monthly record in May as demand by power generators surged amid a spreading electricity shortfall. Both domestic gas production and imports reached record highs for the month. |
