Over the past six weeks, the growth in US industrial gas demand has been fueled in large part by industries in the Northeast, Texas and the Southeast, which together account for over 60% of US industrial gas consumption.

The current trend suggests that Asia will remain the top destination for US LNG for months to come, following robust deliveries to the continent in 2020.

"The quick change in the market dynamics has taken Indian LNG buyers by surprise. A lot of Indian buyers can't afford to pay these prices. We will see demand destruction across various sectors,"

Chinese natural gas demand to reach 360 Bcm in 2021, up 8.4% from an estimated 332 Bcm in 2020. It was at 313 Bcm in 2019.

U.S. commercial crude oil inventories decreased by 8.0 million barrels to 485.5 million barrels.

U.S. exports of liquefied natural gas (LNG) set a new record in December after a record-breaking November 2020, averaging 9.8 billion cubic feet per day (Bcf/d),

There are several new undersea power cable interconnector projects about to become operational across Europe. These high-voltage direct-current (HVDC) projects will enable significant transfers of renewable energy.

Micro-grids find niches where existing service is poor, non-existent and/or expensive

Gas from Russia is transmitted by the TurkStream offshore gas pipeline and further across Turkey.

In January 2020, Russia and Turkey officially commissioned the 31.5 bcm/year TurkStream gas pipeline stretching 930 km across the Black Sea and that will supply 15.75 bcm/year to Turkey and 15.75 bcm/year to Bulgaria, Serbia and Hungary.

The US Senate on Jan. 1 voted to override President Donald Trump's veto of the US National Defense Authorization Act (NDAA) which includes new provisions related to Nord Stream 2 under the Protecting Europe's Energy Security Clarification Act (PEESCA).

bp and its partners have started commercial gas deliveries to southeast Europe from the Shah Deniz gas field in the Caspian Sea via the new Southern Gas Corridor (SGC) pipeline system.

Crude and bitumen blend import for China's independent refineries jumped 42.2% on the year to a record high of 188.11 million mt in 2020

In October 2020, the country imported 3.24 bcm of natural gas via pipelines, while 795 million cubic meters (mcm) was purchased as liquefied natural gas (LNG), EPDK's data showed. This marked an increase in pipeline gas imports of 36.2% and 2.5% in LNG imports.

North American LNG export developers are hoping sustained high prices will provide incentive to buyers to sign more long-term commercial deals that would enable the developers to sanction new terminal projects in 2021.