LNG

US LNG company share values have declined as China has begun suspending purchases amid weaker demand and record low spot prices.

According to Reuters, the head of Total has said that Exxon Mobil Corp. and the government of Papua New Guinea must resume talks so that the US$13 billion expansion of gas production can proceed.

Reuters is reporting that Total has rejected a force majeure notice issued by a Chinese LNG buyer.

According to Reuters, PetroVietnam Power Corp. has signed an agreement with a consortium to arrange funds for the expansion of its gas-fired power complex in southern Vietnam.

Following the news that China National Offshore Oil Corp. has invoked force majeure on several LNG deliveries, Rob Patterson and Myles Mantle, London Partners at law firm Haynes and Boone, have offered their insights.

According to Reuters, China National Offshore Oil Corp. has declared force majeure on several prompt LNG deliveries from at least three different suppliers.

GTT has announced that CMA CGM Group has chosen its global portfolio of services and assistance for the commissioning, operation and maintenance of its LNG-powered container ships.

According to Reuters, an executive at Cheniere has revealed that the company’s sole Chinese contract customer continues to take committed LNG supplies.

Matrix Service Co. has reported financial results for its second quarter of fiscal 2020.

Total has announced that it has divested its 27.5% interest in Fosmax LNG – the operator of the Fos Cavaou LNG terminal – as a result of a competitive sale process to Elengy, Fosmax LNG’s shareholder with a 72.5% stake, that exercised its pre-emption right.

The Nordic gas filling stations network is expanding as Gasum opens its ninth gas filling station in Sweden.

Wärtsilä has announced that it will deliver the equipment for two LNG-fuelled power plants being urgently installed in Myanmar on a fast-track basis.

An executive from Japan’s Inpex Corp. is predicting oversupply in the LNG market until mid-2020, at which point they expect demand from southeast Asia and India to pick up.

Adriatic LNG has reported strong results for 2019, a year in which it celebrated its 10th anniversary and achieved new activity records.

The world’s largest LNG bunker supply vessel, Nauticor’s ‘Kairos’, has conducted its 100th LNG bunker supply operation.