Yemen’s Houthis Target MSC Ship in Gulf of Aden
DUBAI, April 25 (Reuters) – Yemen’s Houthis said they targeted the MSC Darwin ship in the Gulf of Aden on Thursday, as the Iran-aligned group resumed attacks on commercial ships in the Red Sea...
By Bloomberg News (Bloomberg) — China’s General Administration of Customs just confirmed what liquefied natural gas industry insiders have been speculating for weeks: There’s a new No. 2 in town.
China imported 38.1 million tons of LNG in 2017, according to customs data released Tuesday. That’s more than the 37.6 million tons that South Korea imported last year, according to customs data that country released last week. In 2016, South Korea imported 33.5 million tons to China’s 26.1 million, according to customs data. Japan, the world’s largest importer, had shipped in 72.3 million tons through the end of November, according to government data.
China’s surge stems from President Xi Jinping’s efforts to clean the air in smoggy cities by replacing coal-burning furnaces with cleaner natural gas. The push resulted in winter gas shortages in parts of the country where infrastructure wasn’t prepared to handle the increased demand. Additional LNG buying has also inflated spot prices, which have more than doubled since June to $11.40 per million British thermal units, according to industry publication World Gas Intelligence.
Gas consumption in China is expected to continue its rise as the government still has room to improve air quality, Sanford C. Bernstein & Co. analysts including Neil Beveridge said in a Jan. 18 research note. China could overtake Japan as the world’s No. 1 LNG importer as soon as 2025, according to Bloomberg New Energy Finance forecasts.
© 2018 Bloomberg L.P
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,887 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,887 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up