LNG import news
AG&P and ADNOC sign FSU agreement
AG&P has signed an agreement with ADNOC L&S for the conversion, supply, operations and maintenance of an FSU at AG&P’s new LNG import facility at Karaikal Port in Puducherry, India.
KN releases its January LNG revenue results
AB Klaipedos Nafta has reported its preliminary LNG revenue results for January 2020.
Qatargas signs LNG SPA with Kuwait
Qatargas has announced the signing of a new, long term LNG SPA with Shell to deliver 1 million tpy of LNG to the State of Kuwait.
US LNG share prices fall amid Chinese demand slump
US LNG company share values have declined as China has begun suspending purchases amid weaker demand and record low spot prices.
Total rejects Chinese LNG buyer’s force majeure notice
Reuters is reporting that Total has rejected a force majeure notice issued by a Chinese LNG buyer.
Haynes and Boone partners comment on CNOOC declaration of force majeure
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.
CNOOC declares force majeure on some LNG deliveries
According to Reuters, China National Offshore Oil Corp. has declared force majeure on several prompt LNG deliveries from at least three different suppliers.
Cheniere continues supplying LNG to China
According to Reuters, an executive at Cheniere has revealed that the company’s sole Chinese contract customer continues to take committed LNG supplies.
Total sells interest in Fos Cavaou regasification terminal
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.
LNG will be oversupplied until mid-2020
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.