The International Gas Union (IGU) has released its ‘2019 World LNG Report’ – an annual, in-depth analysis of the current state of the global LNG industry over the previous year.
Vitol’s head of LNG trading, Pablo Galante Escobar, has gone on record stating that the short term prospects for LNG business are ‘bleak’.
Asian LNG spot prices have now broken the US$5.00 per million Btu mark, a result of a lack of growth in demand and continued high levels of supply.
Asian LNG spot prices have continued to decline, as inconsistent demand is yet to make a dent in the oversupplied state of the market.
LNG spot prices in Asia have dropped to a 17 month low, following a decline in recent trading activity in the region.
Asian LNG spot prices have fallen below the UK’s current gas price, prompting the redirection of several LNG cargoes from Asia to Europe.
Nick Prowse and Penny Cygan-Jones, Norton Rose Fulbright LLP, UK, consider the global outlook for the LNG industry, with a focus on recent developments in the US, Asia, Australia, South Africa and Africa.
Royal Vopak will acquire a total share of 44% of ETPL in separate transactions with IFC and Engro Corp.
Asian LNG spot prices have experienced a 10% slide this week to a more than three month low due to declining oil prices.