U.S. LNG FOR CHINA DOWN
REUTERS - Only one liquefied natural gas (LNG) vessel that left the United States in 2019 went to China, Reuters shipping data show, as the eight-month trade war between the two nations starts to cool.
The governments of the world's two largest economies have been locked in a tariff battle as Washington presses Beijing to address longstanding concerns over Chinese practices around technology transfers, market access and intellectual property rights.
The countries are working to achieve a trade deal that matches their interests, including eliminating tit-for-tat tariffs.
The only vessel to head to China from the United States this year was the Adam LNG, which left Cheniere Energy Inc's Sabine Pass export terminal in Louisiana on Jan. 30, according to the shipping data.
The data shows a handful of LNG vessels from the United States in the Pacific Ocean, some of which could end up in China.
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Novatek’s Chief Financial Officer Mark Gyetvay said the company would build all equipment and technology in Russia to protect itself. “We will not hold ourselves hostage to U.S. sanctions,” he told the IP Week conference in London.
SHELL - Strong demand for cleaner-burning fuel in Asia continued to drive rapid growth in liquefied natural gas (LNG) use in 2018, with global demand rising by 27 million tonnes to 319 million tonnes, according to Shell’s latest annual LNG Outlook.
REUTERS - China’s liquefied natural gas imports in January rose to a record as an increase in residential heating demand during the winter after the country’s shift to gas heating spurred higher shipments, customs data showed on Saturday.
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 84,000 b/d month-over-month in March from 8,314 to 8,398 thousand barrels/day , gas production to increase 858 million cubic feet/day from 77,109 to 77,967 million cubic feet/day .
EIA - Total estimated consumption by the power, industrial, and residential/commercial sectors and total estimated natural gas exports—by pipeline and as feedstock to liquefied natural gas (LNG) facilities—reached 145.9 billion cubic feet (Bcf) on January 30, compared with the previous record of 143.9 Bcf set in 2018.
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.