LNG import news

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.

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.

According to Reuters, an LNG tanker that had been travelling to China has been diverted, most likely due to lower demand caused by the coronavirus situation.

A tender for four LNG cargoes, launched by India’s Torrent Power, has been awarded with a price average of less than US$4 per million Btu.

Chinese LNG buyers are expecting demand to be severely impacted by the coronavirus epidemic that is currently gripping the country.

According to Reuters, Petronet LNG and Tellurian Inc. are set to sign a deal worth US$2.5 billion during President Donald Trump’s trip to New Delhi, India, this month.

AB Klaipedos nafta has signed an agreement for the provision of operations and maintenance services in connection with a Brazilian LNG terminal.

Qatargas Operating Co. Ltd has announced that it has supplied a commissioning LNG cargo for India’s newest LNG receiving terminal, Mundra, located on the west coast of India.

AB Klaipedos nafta has announced its unaudited financial results for 2019.