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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, August, 20, 14:00:00

U.S. RIGS UP 0 TO 1,057

BAKER HUGHES A GE - U.S. Rig Count is unchanged at 1,057 rigs, with oil rigs unchanged at 869, gas rigs unchanged at 186, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 3 rigs from last week to 212, with oil rigs up 1 to 141 and gas rigs up 2 to 71.

ASIA'S LNG DEMAND
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OIL PRICE: NOT ABOVE $72

REUTERS - Brent crude oil futures LCOc1 were down 3 cents at $71.40 a barrel by 00229 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped 1 cent to $65.45 a barrel.

ASIA'S LNG DEMAND
2018, August, 17, 11:55:00

ШИРОКИЕ ПЕРСПЕКТИВЫ СОТРУДНИЧЕСТВА

МИНЭНЕРГО РОССИИ - «Если рассмотреть Конвенцию через призму энергетического сотрудничества прикаспийских государств, можно отметить, что она открывает большие перспективы для расширения и углубления взаимовыгодного сотрудничества в сфере ТЭК», - сказал глава российского энергетического ведомства.

ASIA'S LNG DEMAND
2018, August, 17, 11:50:00

GLOBAL NUCLEAR POWER UP

WNA - Nuclear reactors generated a total of 2506 TWh of electricity in 2017, up from 2477 TWh in 2016. This is the fifth successive year that nuclear generation has risen, with output 160 TWh higher than in 2012.

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