China LNG news

Well-supplied global LNG market sees demand build for cleaner-burning energy, according to Shell’s latest annual LNG Outlook.

PETRONAS has announced that its subsidiary, PETRONAS LNG Ltd, has signed a 12-year time charter party with Kawasaki Kisen Kaisha Ltd for two mid-sized newbuild LNG vessels.

Declining Chinese LNG demand, due to the Coronavirus epidemic, has led to Asian spot prices falling to new lows.

Four LNG tankers en route to North Asia have been diverted due to the Coronavirus outbreak in China.

According to Reuters, Qatari energy companies are actively engaged in accommodating both rescheduling and re-routing requests on some deliveries of Qatari oil and gas cargoes to China after the coronavirus outbreak.

According to Reuters, Woodside Petroleum Ltd has announced that the coronavirus outbreak is affecting its ability to sign gas deals and sell stakes in a key growth project, reporting a 25% decrease in annual underlying profit.

Rystad Energy is expecting LNG trading between the US and China to remain low, despite also predicting that tariffs on trade between the two countries will be removed in the near future.

After the signing of a trade deal between Washington and Beijing, Gazprom is hopeful that China will purchase the majority of US-produced LNG cargoes, not Europe.

According to Rystad, the Coronavirus is set to slash Chinese LNG demand, however the removal of the US LNG tariff could save the day.

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