LNG

The unseasonably warm weather in the northern hemisphere and the rise of the global supply levels has resulted in record-low LNG prices. Adding to that, the coronavirus epidemic in China has reduced business and industrial activity, with January’s LNG imports dropping by about 10% year on year.

A producer in the Marcellus Basin selected Edge Gathering Virtual Pipelines 2 to capture and liquefy gas from its stranded wells in Tioga County. Initial operation is underway and is set to be ongoing until at least 2022.

Asian spot prices for LNG took a dive to multiyear lows, feeling the pressure of the lack of demand. Holders of previously agreed upon long-term buyer contracts seek renegotiation.

What will 2020 look like for the oil and gas, energy, and petrochemical markets? Here are 10 observations from ADI Analytics that demonstrate just how global and complex the energy mix has become.

The agreement comes 8 months after Saudi Aramco agreed to take a 25% ownership interest in the southeast Texas project. Phase 1 of the project is expected to produce 11 mtpa of LNG.

McDermott said the first cargo was a precursor to substantial completion of Train 2. The liquefaction unit began production on 6 December.

Citing shipping data from Bloomberg Finance, the US EIA estimates that LNG exports set consecutive records in October and November 2019. Through the first 11 months of the year, US LNG exports have gone up 61% from their 2018 annual average.

Bahri, Saudi Arabia's national shipping carrier, is looking into chartering as many as 12 LNG tankers starting in 2025, according to a new Reuters report. The EOI may be part of Saudi Aramco's expansion into LNG trading.

The Eni-operated project will be the first FLNG vessel deployed in a deepwater field offshore the African continent upon its projected 2022 startup. Samsung Heavy Industries completed the operation at its shipyard in Geoje, South Korea.

The tender invites EPC contractors to develop a commercial bid for the lump-sum turnkey contract based on a fully developed scope related to design, engineering, technical, and safety specifications for the project. Commerical bids are expected next year.