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2018-04-25 09:55:00

ASIA'S LNG DEMAND

ASIA'S LNG DEMAND

REUTERSLast year's strong demand for liquefied natural gas (LNG), led by Asia's major economies, is expected to continue this year and should absorb some of the new supply coming onstream, industry executives said at a conference on Tuesday. 

The global LNG industry has been expecting prices to be depressed by a rush of supply as projects to produce 40 million to 50 million tonnes per year of LNG are coming online, mainly in Australia and the United States, over the next two years. 

But, a surge in Asian demand last year took the market by surprise, with some producers now expecting the new supply to be easily absorbed by the increasing consumption across Asia. 

"For the past three years, we were told at every conference that we'll have a gas bubble, that gas is oversupplied, that we won't be able to sell LNG... but it's a bubble that never came," said Jean-Pierre Mateille, vice president of trading at Total's gas and power division. 

Trade flow data on Thomson Reuters Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic meters (bcm) a month. Growth accelerated in 2017, with imports up by a fifth, largely because of rising demand in China, but also in South Korea and Japan. 

China, which overtook South Korea as the world's second-largest LNG importer in 2017, will still import large volumes of LNG this year though at a slower pace, the executives said. 

China's LNG imports soared after the government ordered millions of homes to switch to natural gas and electric heating from coal to counter rising air pollution. 

This switch will continue to boost LNG imports into the country this year, Total's Mateille told the LNG Forum 2018 conference. 

Despite the new Australian and U.S. supply, demand will catch up in the long run, said Royal Dutch Shell Energy's Executive Vice President Steve Hill. 

Trafigura's head of LNG Hadi Hallouche said: "If we move away from the next one, two, three years, the industry is growing at 20 to 30 million tonnes every year but we're not taking FIDs (final investment decisions) for that kind of volume." 

"There seems to be a consensus that from two years onwards we have a (supply) crunch because we have under-invested in production," he said.

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Earlier:

 Gas
2018, April, 23, 14:30:00

GLOBAL LNG IMPORTS UP 10%

PLATTS - Global LNG imports in 2017 increased by nearly 10%, the highest annual growth rate since 2010, reaching 289.8 million mt, while expectations of an LNG surplus failed to materialize as rising imports into China contributed to balancing the market.

 

 Gas
2018, February, 27, 13:45:00

GLOBAL LNG DEMAND UP TO 293 MT

SHELL - The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. Such strong growth in demand is consistent with Shell’s first LNG Outlook, published in 2017. Based on current demand projections, Shell sees potential for a supply shortage developing in mid-2020s, unless new LNG production project commitments are made soon.

 

Gas
2018, January, 12, 13:00:00

ТРАНСФОРМАЦИЯ МИРОВОГО РЫНКА

МИНЭНЕРГО РОССИИ - На энергетическом рынке происходят существенные трансформации, появляются новые технологии, что в итоге приводит к изменению энергобаланса. В частности, за последние 10 лет добыча газа в мире выросла на 20% -- до 580 млрд м3, его доля в энергобалансе расширилась с 21 до 22%. При этом мировая торговля газом за тот же период увеличилась на 42%, или на 313 млрд м3.

 

Gas
2018, January, 5, 23:35:00

LNG INVESTMENTS WILL UP

BLOOMBERG - Energy companies will approve investments for more than 150 million tons a year of new supply capacity over the next four years, according to the report. By comparison, global consumption was 286 million tons in 2017. Projects in Qatar, Papua New Guinea, Russia and the U.S. are most economically appealing, followed by Mozambique, Australian expansion projects and an Alaskan mega-project.

 

Gas
2017, December, 22, 22:25:00

GAZPROM DEVELOPING LNG

GAZPROM - With LNG demand on the rise, Gazprom is making further efforts in this line of business.

Gas
2017, December, 11, 10:15:00

WORLD-CLASS YAMAL LNG

“This is for sure a complicated project,” Putin said at a ceremony attended by the project partners and the energy minister of Saudi Arabia. “But those who started this project took a risk, and the risk was justified, and they succeeded.”

 

Gas
2017, November, 27, 20:10:00

БОЛЬШИЕ ВОЗМОЖНОСТИ РОССИИ

МИНЭНЕРГО РОССИИ - «Совместно мы занимаем более 60% рынка газа. Наши общие запасы по последним оценкам составляют 70% от общемировых. По прогнозам к 2040 году глобальные потребности в газе увеличатся на почти на 60%, и данный показатель может быть еще пересмотрен в большую сторону, основываясь на глобальной климатической повестке».

 

 

 

Tags: ASIA, LNG

Chronicle:

ASIA'S LNG DEMAND
2018, May, 21, 10:40:00

U.S. PETROLEUM DEMAND UP BY 750 TBD

API - American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.

ASIA'S LNG DEMAND
2018, May, 21, 10:35:00

IMF: EGYPT'S GROWTH UP

IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.

ASIA'S LNG DEMAND
2018, May, 21, 10:30:00

U.S. RIGS UP 1 TO 1,046

BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,046, with oil rigs unchanged at 844, gas rigs up 1 to 200, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 4 rigs from last week to 83, with oil rigs up 6 to 38 and gas rigs down 2 to 45.

ASIA'S LNG DEMAND
2018, May, 18, 09:20:00

OIL PRICE: ABOVE $79

REUTERS - Brent crude futures LCOc1 were at $79.57 per barrel at 0310 GMT, up 27 cents, or 0.3 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate (WTI) crude futures were at $71.62 a barrel, up 13 cents, or 0.2 percent, from their last settlement.

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