RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-10-02 11:40:00

U.S., CHINA LNG INVESTMENT: $3.59 BLN

U.S., CHINA LNG INVESTMENT: $3.59 BLN

PLATTS - US-based Sempra LNG has entered into a memorandum of understanding with China Three Gorges Corporation, or CTG, for the supply of LNG -- the first US-China LNG agreement in 12 months following retaliatory tariffs imposed by the Chinese Ministry of Commerce on US imports last year -- according to a statement released by Sempra Energy on Monday.

Parent company Sempra Energy also announced an agreement to sell an 83.6% stake in the Peruvian Luz del Sur for $3.59 billion in cash to China Yangtze Power International, or CYP, a subsidiary of CTG, a company statement showed.

"This initial agreement with CTG represents an opportunity to support strong growth in natural gas demand in Asia, with future expansions of our LNG projects right here in North America," Jeffrey W. Martin, chairman and CEO of Sempra Energy, said.

EXTENDED TRADE TENSIONS PUT US SUPPLY ON HOLD

The agreement between Sempra LNG and CTG marks the first US-China LNG agreement in 12 months, following retaliatory tariffs first imposed by the Chinese Ministry of Commerce on US imports on September 24, 2018.

The initial 10% tariff on US LNG was further leveled up to 25% on June 1 as trade tensions escalated.

There were discussions in March between Sinopec and Cheniere for a potential long-term LNG supply deal on the premise of easing trade tensions, according to sources with knowledge of the matter.

As trade talks stagnated, Chinese LNG market participants were uncertain of the outlook surrounding US LNG amid a wave of global oversupply.

"While a trade deal has not yet to be reached [between US and China], it is unlikely that Chinese buyers would firm up agreements for spot or short term LNG supply at least," an end-user said.

US LNG suppliers might have to consider a long term scenario as this issue extends into a structural one, the same source said.

Prior to the US-China trade dispute, Cheniere had announced two sale and purchase agreements with CNPC in February 2018 for the supply of 1.28 million mt/year of LNG in two tranches till 2043.

PetroChina, a subsidary of CNPC, was reported to have diverted its US term cargoes this year through optimization and cargo swaps, according to market sources. The Chinese importer was heard to be taking only a handful of cargoes from Cheniere for the term deal, according to an industry source. Further details remain unclear.

To-date in 2019, China has received four cargoes, or 277,000 mt of LNG, from the US Sabine Pass LNG terminal, with three of these cargoes having been delivered to PetroChina's Rudong and Tangshan terminals over January-March, and one to CNOOC's Hainan LNG terminal in January. This is compared with 33 cargoes received from the US in 2018, totaling 2.32 million mt of LNG, cFlow, Platts trade flow software, showed.

----

Log in to read the publication.

An authorized user gets access to four FREE publications per month.

You can also buy a full access to all publications of the site since January 2014.


Earlier:

U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, September, 27, 13:25:00
LNG INVESTMENT $50 BLN
“This year, 2019 already broke the highest amount of (final investment decisions) for the first time ever, $50 billion,” he told the annual LNG Producer-Consumer conference in Tokyo.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, September, 26, 13:40:00
U.S., CHINA SANCTIONS
Analysts have said the Trump administration remains unlikely to sanction a major Chinese entity, even as imports of Iranian crude continue, due to the impact on the global economy if the trade dispute between the two nations drags on.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, September, 20, 15:30:00
GLOBAL OIL, GAS FINANCES DOWN
Brent crude oil daily average prices were 9% lower in second-quarter 2019 than in second-quarter 2018 and averaged $68 per barrel
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, September, 18, 18:20:00
СПРОС НА СПГ УДВОИТСЯ
Министр подчеркнул, что темпы потребления сжиженного природного газа (СПГ) в 3,5 раза выше, чем в целом газа. «К 2035 году мировой спрос на СПГ ещё удвоится и составит около 600 миллионов тонн. Основным «локомотивом» потребления станет Азиатско-Тихоокеанский регион. Китай и Индия совокупно покроют более 50% прироста спроса на СПГ в АТР. В результате, к 2035 году доля СПГ в мировой торговле может вырасти с сегодняшних 35% от общего объёма торговли газом до 51%. Россия уже сегодня уверенный лидер на мировом газовом рынке - как по запасам, так по добыче и экспорту», - сказал Д.Кобылкин.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, September, 16, 14:40:00
U.S. GAS PRODUCTION UP TO 92.8 BCFD
U.S. natural gas production continued to increase in August, setting a new daily production record of 92.8 billion cubic feet per day (Bcf/d) on August 19, 2019,
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, September, 10, 17:40:00
CHINA'S GAS IMPORTS UP 10%
Over January-August, China imported a total of 63.04 million mt, or 86.93 Bcm of natural gas, up 10.3% from 57.15 million mt, or 78.81 Bcm, during the same period last year, according to the customs data.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, September, 4, 17:55:00
U.S. LNG UP TO 10%
U.S. exports of liquefied natural gas (LNG now amount to 10% of the global market and at 22 million tonnes so far this year are equal to the total volumes pumped out in 2018,
All Publications »
Tags: USA, CHINA, SANCTIONS, LNG
Chronicle:
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, October, 21, 13:15:00
CHINA'S LNG INVESTMENT: 11.5 MT
China’s Yantai LNG Group is aiming to start up a liquefied natural gas (LNG) import terminal by 2022 and expects government approval for it over the next few weeks
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, October, 21, 13:10:00
SAUDI'S INVESTMENT FOR BANGLADESH $3 BLN
Saudi Aramco and Saudi utilities developer Acwa Power have signed a memorandum of understanding (MoU) with the Bangladesh government to develop a $3bn liquefied natural gas (LNG) terminal and power plant in the South Asian country.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, October, 21, 13:05:00
PETROBRAS PRODUCTION UP 16.5%
Petrobras, which has been was completing the installation of seven new floating production units, produced 2.794 million b/d of oil equivalent in the third quarter from domestic fields. Oil and gas output was up 9.5% from the second quarter.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, October, 21, 13:00:00
U.S. RIGS DOWN 5 TO 851
U.S. Rig Count is down 5 rigs from last week to 851, Canada Rig Count is down 3 rigs from last week to 143,
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, October, 18, 12:00:00
OIL PRICE: NEAR $60
Brent fell by 21 cents, 0.4%, to $59.70 a barrel , WTI edged down by 4 cents, or 0.1%, to $53.89 per barrel.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, October, 18, 11:45:00
RUSSIA'S GAS FOR HUNGARY +17%
Gazprom's supplies to the country over nine and a half months of 2019 totaled 8.9 billion cubic meters of gas, 17 per cent more than in the entire year of 2018.
U.S., CHINA LNG INVESTMENT: $3.59 BLN
2019, October, 18, 11:40:00
RUSSIA, UAE NUCLEAR POWER
Emirates Nuclear Energy Corporation (ENEC) has renewed its 2017 Memorandum of Understanding on cooperation in the field of peaceful uses of nuclear energy with Russian state nuclear corporation Rosatom. The document was signed by Mohamed Al Hammadi, CEO of ENEC, and Alexey Likhachov, Rosatom director general, in Abu Dhabi during Russian President Vladimir Putin's official visit to the United Arab Emirates.
All Publications »