LNG Market News
The Panama Canal is in talks with US LNG producers to increase transit through the passage as water levels begin to recover.
China’s natural gas imports for April rose to 10.29 million mt (+14.7% y-o-y). Despite imports increasing by 20.7% y-o-y to 43 million mt during Jan-Apr, China paid around $21.3bn, a decrease of 0.9% in comparison to the same period in 2023.
Turkey’s state-owned firm Botas has signed a deal with ExxonMobil to receive up to 2.5 million mt of LNG annually for a decade.
South Korean LNG importer Kogas has completed lifting the roof on the first of four 270,000cbm LNG tanks in Dangjin, with the others set to be lifted by August. Kogas gas plans to build a total of ten tanks by 2030.
US LNG exports rose in the week ending May 08, with 22 LNG carriers departing US plants with a total capacity of 79 Bcf.
Average natural gas deliveries to US LNG export terminals increased to average 12.3 Bcf/d (+0.6% w-o-w).
Jiangnan is aiming to deliver its first 175,000 cbm LNG carrier to ADNOC in December. This is the first of six carriers set to be delivered to ADNOC by 2026.
Peru LNG exports remained level with five LNG cargoes loaded in April, equating to around 373,035 mt (+5.9% m-o-m).
NYK announced that its fleet of operational LNG carriers rose to 91 vessels by the end of March, up from 86 at the end of Sep’23.
Norway-based Awilco LNG has signed a sale and leaseback deal with CDB Leasing for two 2013-built 156,000 cbm TFDE LNG carriers.
Vitol-backed VTTI has agreed to buy Ancala’s 50% shareholding in the Dragon LNG terminal in the UK.
QatarEnergy has signed a time charter and operation agreement with Nakilat for nine QC-Max 271,000 cbm LNG vessels.
Gorgon LNG train will likely remain offline for at least five weeks, following a mechanical fault.
