Egypt to bid for LNG cargoes up to 20 to meet Q1 2025 Demand
Three trading sources said on Monday that Egypt will issue an tender to procure up to 20 LNG cargoes to meet the demand in the first quarter 2025. The largest Arab country, which has the most people in it, is now a net gas importer. It has bought more than 50 cargoes this year. Plans to be a reliable gas supplier to Europe have been abandoned. Sources said that the Egyptian General Petroleum Corporation is expected to announce the tender for the purchase of between 15 and twenty cargoes LNG. Sources said that the tender will also be on a deferred payment basis of six months, without providing any further details.
Sources confirm that Egypt has awarded the tender for 20 LNG winter cargoes to Egypt.
Four trading sources said on Friday that Egypt's recent bid for 20 cargoes (cartons) of liquefied gas to cover winter demand following a sharp decline in domestic production has been fully allocated. It is the first time Egypt issued an tender to cover the winter demand since 2018. This year, the most populous Arab nation has become a net gas importer. It has purchased more than 50 cargos and abandoned plans to be a reliable European supplier. The tender was issued on September 12 by the Egyptian General Petroleum Corporation and covered the demand for the 4th quarter of 2024. It was awarded with a deferred-payment basis lasting six months.
Germany Nationalises Gas Group Uniper in Scramble to Secure Supply
Germany confirmed the nationalization of struggling gas importer Uniper at a cost of 8 billion euros ($7.9 billion) on Wednesday as it scrambles to secure power for Europe's largest economy after Russia cut back supplies.Nationalizing Germany's largest importer of Russian gas is the second move in a week by the government in Berlin to take control of an energy business as it confronts a winter crisis.Uniper, whose shares were around 18.97% lower at 3.38 euros at 0710 GMT, burned through its cash buying alternative supplies after Moscow cut gas flows to Germany, triggering a 15 billion euro state rescue package in July.
India to End Federal Control of Gas prices, Lift LNG transport Use
India will gradually end federal controls on gas pricing as it seeks to attract foreign investment and technology to lift local output, oil minister Dharmendra Pradhan said on Friday.India, which is a large emitter of greenhouse gases and has multiple gas pricing regimes, aims to raise the share of gas in its energy mix to 15% by 2030, from 6.2%."This is an incentive we are giving to investors to come to India and take advantage of pricing and marketing freedom and produce more and invest more," Pradhan said at the BNEF summit.To boost gas usage…
Fully Laden LNG Tankers Sit Idle Off Indian Ports after Force Majeure
At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes, after importers there declared force majeure earlier this week, according to an analyst and shipping sources.Gas demand is falling globally amid the fast-spreading coronavirus which has capped industrial output, forcing LNG tankers in several regions to remain at sea fully laden with no immediate destination, the sources said.At least three major buyers in India, the world's fourth largest LNG importing country…
Oil Falls, OPEC Backs Deeper Supply Cuts
Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could not immediately secure Russian support for the decision.Brent crude fell by 33 cents, or 0.6%, to $50.80 a barrel by 1338 GMT. U.S. West Texas Intermediate (WTI) was down 20 cents, or 0.4%, at $46.58.OPEC agreed to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak but made its action conditional on Russia and others joining in.Russia…
Energean Seeks to Pipe Karish Gas to Cyprus
Energean Oil & Gas said on Tuesday its Energean International unit submitted an application to import and supply natural gas to Cyprus starting in 2021.In its application to Cypriot authorities, it said it sought to supply gas through a pipeline from the Karish block offshore Israel to Vassiliko, Cyprus.The pipeline would be 215 kilometers long and transport natural gas from the Karish North field, which contains 25 billion cubic meters of discovered recoverable resources.Total investment, Energean said, will be about $350 million and will be funded by Energean.
Novatek Signs MoU with Petronet LNG
Russia’s largest independent natural gas producer Novatek signed a memorandum of understanding (MoU) on cooperation with India’s largest liquefied natural gas importer Petronet LNG.The MoU envisages delivering LNG supplies from Novatek's portfolio to the Indian market, including natural gas supplies for power generation, as well as investment by Petronet LNG in Novatek's future LNG projects and the joint marketing of LNG as motor fuel in India, including joint investment in developing a network of filling stations and a fleet of LNG-fueled trucks.“India’s rapid economic growth requires increasing demand for all sources of energy and…
Natural Gas Consumption Up 10% in China
According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection policies to further prevent and control atmospheric pollution and replace coal with natural gas in key areas, which pushed up natural gas consumption in China.The market survey by ResearchAndMarkets shows that in 2018…
Gazprom to Start Gas Supply to China
Russian gas giant Gazprom will start supplying Russian natural gas to China via the Power of Siberia pipeline almost one month early than previously planned.Alexey Miller, Chairman of Gazprom Management Committee, said after the negotiations with representatives of Chinese partner CNPC in Beijing, “Construction of the Power of Siberia gas pipeline is going ahead of schedule, and Gazprom will start delivering gas to China well in advance, as early as December 1, 2019.”Alexey Miller and Wang Yilin, Chairman of the Board of Directors of CNPC reviewed a wide range of issues related to cooperation between the companies…
Anadarko Sells LNG to CNOOC
U.S. oil giant Anadarko Petroleum said it has signed a deal with one of China’s biggest importers to supply 1.5 million tonnes of liquefied natural gas (LNG) a year from Mozambique for a period of 13 years.The contract, signed by Anadarko and China’s GNOOC Gas and Power Singapore Trading & Marketing, gives China’s biggest liquefied natural gas importer access to world-class gas resources from Mozambique LNG, Mitch Ingram, executive vice president of Anadarko’s International, Deepwater and Exploration division, said."Mozambique LNG is extremely pleased to have CNOOC onboard as one of our foundation customers," added Ingram.
LNG Import: China is World's No. 2 buyer in 2018
China's imports of liquefied natural gas (LNG) in December soared 25 percent from the same period a year earlier to a monthly record of 6.29 million tonnes, customs data showed on Wednesday.The previous record of 5.99 million tonnes was set in November.For the whole of 2018, imports grew 41 percent from 2017 to a record 53.78 million tonnes, according to the data from the General Administration of Customs. That saw China retain its position as the world's second-buyer buyer of the super-chilled fuel after Japan, having leapfrogged…
Petronet Seeks Long-term Deal to Buy US LNG
Top Indian gas importer Petronet LNG is looking to sign a deal in a year's time to buy at least 1 million tonnes of U.S. natural gas annually for a period of up to 10 years, as it pushes to diversify its supply sources beyond the Middle East.As part of any deal, the firm could potentially take a stake in a U.S. liquefied natural gas (LNG) project, said Petronet's managing director, Prabhat Singh."The U.S. market is open compared to other markets where the state is (often) the controller of minerals," Singh told Reuters late last week."The U.S.
China Becomes Top Natural Gas Importer
China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.China's total natural gas imports over January to October this year via pipeline and as liquefied natural gas (LNG) were at 72.06 million tonnes, up a third from the same period last year, according to Reuters calculations based on General Administration of Customs data.Japan, on the other hand…
Spanish LNG Cargoes Set for Export from Gas Terminals
The following table lists liquefied natural gas (LNG) cargoes set to be loaded on tankers for onward export.Spain is Europe's most diversified gas importer and has the continent's biggest LNG import capacity spread across its six terminals, sourcing LNG from Qatar, Nigeria, Trinidad, Algeria and other producers.Imported cargoes are stored in tanks located at terminals, where the LNG can either be regasified and pumped into the local grid or loaded on to new tankers for export.PortLoading window dateVolume (in cubic meters)TankerBBGJuly 11-1395,000UnknownBarcelonaJuly 13-15159,000UnknownBarcelonaJuly 23175,000 UnknownSource: Enagas(Bengaluru Commodities
China to top Japan as World's Biggest LNG Importer
Pollution fight drives surge in pipeline, LNG imports but Japan remains world's biggest importer of LNG. Beijing's crackdown on pollution has put China on track to overtake Japan this year as the world's biggest importer of natural gas, used to replace dirtier coal. China - already the biggest importer of oil and coal - is the world's third biggest user of natural gas behind the United States and Russia, but has to import around 40 percent of its total needs as domestic production can't keep up with demand. Data compiled from…
Petronet bets on LNG as a fuel to Drive Demand
India's top gas importer Petronet LNG is betting on liquefied natural gas-powered ships and vehicles to drive up demand for the cleaner fuel, its managing director said, helping the world's third most polluting nation to improve air quality. Prabhat Singh told reporters he expected a shift to LNG-driven vehicles to create "reasonable demand" for the fuel in a country where many industries are not yet linked to the pipe grid. India currently lags Asian rival China, where thousands of trucks and buses already run on LNG. "This is a big item and big market…
LNG Price Gains Face Ceiling as New Supply Emerges
Asian spot liquefied natural gas (LNG) prices rose this week on the back of rallying gas benchmarks in Europe and a production outage in Angola. The price of LNG for December delivery was $7.20 per million British thermal units (mmBtu), up around 25 cents from a week earlier, buoyed by gains in British month-ahead gas prices. UK December gas rose as much as 10 percent this week. Further LNG spot gains may be capped as prices close the gap with long-term, oil-indexed LNG contract levels and with new supply emerging from U.S. and Australian liquefaction projects, analysts and trade sources say.
Egypt Launches Record LNG Tender for 96 Cargoes
Egypt launched the world's biggest tender for liquefied natural gas (LNG) as officials from top energy companies and trading houses converged on Cairo undeterred by new rules that could force them to wait for as long as six months to get paid. After months of speculation and delay, state-run Egypt Natural Gas Holding (EGAS) released tender documents on Sunday bidding to secure 96 LNG shipments in 2017 and 2018, participants in the tender told Reuters. An additional 12 optional cargoes were included in the tender, which EGAS may decide not to award, they said.
India's Biggest Gas Importer Plans $3 bln Investment in Overseas Push
India's biggest gas importer Petronet LNG aims to spend up to $3 billion in the next five years to expand overseas, setting up terminals in Bangladesh and Sri Lanka among other countries, its managing director said. Falling spot LNG prices have boosted consumption of the fuel in India and triggered demand for LNG infrastructure in countries long shut out of the gas trade. "We are thinking global and we are not looking inwardly only at India ... we have potential and we should aim for 30 billion-40 billion rupees' ($445 million-$596 million) worth of projects every year for five years," Prabhat Singh told Reuters in an interview.
