APPEC-LNG buyers flag US supply risks after export pause
After President Joe Biden’s administration halted export permits of supercooled fuel to non-Free Trade Agreement nations, major buyers of liquefied Natural Gas (LNG), flagged the risks of purchasing cargoes of the United States. In response to a query on the impact of U.S. exports pause, officials from Taiwan's CPC Corp. and Germany's SEFE, who trade LNG cargoes, and sell in Asia, stressed reliability of supply. Jane Liao (VP of CPC) said at the APPEC Conference that she trusted the traditional LNG providers more than the U.S. LNG companies. "Most Asian buyers rely on our traditional LNG suppliers who value long-term relationships more.
APPEC-Taiwan CPC expects LNG imports to rise with nuclear phase-out
An official from state energy company CPC Corp stated that Taiwan's annual imports will increase as more gas-fired electricity plants are brought online in the face of the planned phase out of nuclear power by 2020. Vice president Jane Liao said that Taiwan's LNG imports this year could increase to 20 million tonnes from 19 million in 2023. Taiwan Power Company (Taipower), a state-owned utility, is the country's largest customer. Liao explained that this is dependent on Taipower's usage. If their (generated renewable) power is higher than expected, LNG consumption will be lower. Taiwan imports a lot of energy, mainly coal and natural gases, in order to meet its needs.
Flurry of US Crude Export Fixtures Offers Slimmer of Hope
A flurry of tentative bookings to export U.S. crude oil from the Gulf Coast suggests demand is edging up after the coronavirus slammed energy consumption worldwide.BP, Trafigura and Equinor have all tentatively fixed vessels this past week to carry U.S. crude to global destinations over the coming month, according to Refinitiv Eikon data and shipping sources.Commodities merchant Trafigura and Occidental Petroleum are among companies looking to book vessels to ship crude from the U.S. Gulf Coast to Asia, one shipbroker said. The U.S. Gulf export market was particularly active last week…
Ichthys Ramps Up Output
A tanker carrying liquefied natural gas (LNG) has been floating off Australian waters for nearly two weeks as production at Ichthys project ramps up, industry sources told Reuters.The tanker 'Symphonic Breeze' has been moored at Darwin anchorage since April 17 after loading a cargo from the recently launched Ichthys LNG facility, shipping data from Refinitiv Eikon showed.The LNG cargo has already been sold to a North Asian buyer, who chose to lift it at a later date due to high inventory in its tanks, an industry source familiar with the matter said.The "floating cargo" situation has been partly created due to ample global supply with several new projects expected to launch LNG exports
Prelude FLNG Starts Production in Australia
Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.Though the project started up later and cost more than originally estimated, it is expected to further cement Australia's lead as the world's biggest LNG exporter, after the country took the crown in November.In a statement, Shell said wells have now been opened at the Prelude facility, located 475 kilometers north-north east of Broome in western Australia.
Prelude FLNG to Start Producing at End-2018
Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday."We continue to progress Prelude towards operations, with safety and quality being our main focus ... We expect to see production around the end of the year," she told Reuters in an emailed statement.Prelude - which will process natural gas produced offshore northern Australia and export it as LNG - is expected to have an annual LNG production capacity of 3.6 million tonnes. It will also produce 1.3 million tonnes a year of condensate and 400…
Taiwan to Purchase LNG from U.S. Producer
Taiwan's CPC Corp on Monday announced a preliminary deal to buy liquefied natural gas (LNG) from U.S. producer Cheniere Energy for 25-years, according to a statement. CPC, a major importer of LNG, signed a Heads of Agreement to purchase 2 million tonnes of LNG annually from Cheniere, which is gearing up to start exports from its second U.S. export plant at Corpus Christi, Texas. Cheniere started exporting LNG from its Sabine Pass plant in Louisiana in 2016. Reporting by Oleg Vukmanovic
Osaka Gas wins Taiwan LNG terminal consulting work
Japanese city gas supplier Osaka Gas says its subsidiary has won consulting work for liquefied natural gas (LNG) terminals planned by Taiwan's state-owned CPC Corp and Taiwan Power Co.The subsidiary, Osaka Gas Engineering, will handle basic design for all of the planned LNG terminals in Taiwan, Japan's second-biggest city gas supplier said in a statement.(Reporting by Osamu Tsukimori)
CPC Buys Rare North Sea Forties Crude Parcel
Taiwan's CPC Corp bought a rare cargo of North Sea Forties crude as it seeks to diversify supply, a source familiar with the matter said on Thursday. The state-owned refiner joins South Korean refiners in buying the North Sea grade as traders move surplus crude from Europe to Asia. CPC bought 1 million barrels of Forties for June delivery from Unipec in a tender, trade sources said. The Forties cargo was sold at about $3.50 a barrel above Dubai quotes on a cost-and-freight basis, a trader said, adding that Unipec was prepared to load the oil in early May.
CPC Corp Seeks Rare November Jet Fuel Cargo
Taiwan's CPC Corp is seeking a rare jet fuel cargo for delivery in November as it builds its heating fuel inventory ahead of winter, trade sources said on Monday. The company is seeking 40,000 kilolitres of jet fuel for delivery into Kaohsiung, Taiwan, one of the sources said. The tender closes on Oct. 15 and is valid until Oct. 17. CPC Corp, which normally exports jet fuel, last imported jet fuel about a decade ago, a source close to the matter said. The company is likely stockpiling kerosene, which is used as heating fuel in winter, and is importing jet fuel to meet domestic shorts, the source added. Reporting by Jessica Jaganathan
First PNG LNG Cargo Shipped by Exxon Mobil
Exxon Mobil Corporatio says it has shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG (Papua New Guinea) LNG project ahead of schedule. PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan. Production from the first train started in April, 2014, and production from the second train has also started as additional wells came online. Construction of PNG LNG began in 2010, and took more than 190 million work hours to complete.
