Idling LNG Tankers Hint at Increasing Appeal of Floating Storage

By Anna Shiryaevskaya and Naureen S. Malik (Bloomberg) --Liquefied natural gas tankers are taking longer-than-usual journeys to deliver cargoes and spending more time idling at sea in a sign some traders are starting to use vessels for storage. There may be other reasons for keeping the cargoes on the water, including logistical or weather issues, such as a monsoon in India. … [Read more...]

Novatek Signs Partners for Arctic LNG-2 Project

Russian gas produce Novatek has closed its search for partners for its proposed Arctic LNG-2 project, adding a subsidiary of China National Petroleum Corporation (CNPC), CNOOC and the Japan Arctic LNG consortium to the project. Novatek's Arctic LNG-2 project proposes constructing three-train LNG export plant with a capacity of approximately 19.8 mmtpa extracted from the … [Read more...]

Arctic Sea Route Opens For Yamal LNG Cargo

by Sabina Zawadzki (Reuters) - A liquefied natural gas (LNG) tanker carrying a cargo from the Yamal LNG plant has spent this week making its way through Arctic waters north of Russia towards Asia, marking the first voyage of the 2019 summer season across the Northern Sea Route. The Vladimir Rusanov, an Arc7-classed LNG tanker that can plough through semi-cleared waters, left … [Read more...]

How U.S. LNG Plays Havoc with Dutch Gas and Asian Shipping

By Sabina Zawadzki LONDON, June 28 (Reuters) - Dutch gas prices hit 10-year lows this week, reflecting high European inventories swelled by liquefied natural gas (LNG) imports, testing levels at which companies that committed to buy U.S. LNG will start making serious losses. Prices for month-ahead Dutch gas have dropped by two-thirds since their peak last September of just … [Read more...]