International Gas Union’s Post

The IGU (International Gas Union) 2024 World LNG Report is now available! It’s an honor for me to be part of this amazing Task Force with the best LNG specialists from around the world. The IGU 2024 World LNG Report provides the most comprehensive review of the global LNG industry, based on public data and analysis on the variables that impact the LNG market. LNG is a key component of the global energy mix, due to its flexibility, efficiency, and reliability. You can download the report at the IGU website. #LNG #IGU #Rystad #LNGRegasification #LNGTrade #LNGLiquefaction

Discover the latest LNG insights in the IGU’s 2024 World LNG Report. Don't miss out on understanding this dynamic market—get your copy now👇 #LNG #EnergyMarket #GlobalTrends #2024LNGReport

Can Nigeria with her abundant gas resources bring on more investment in order to quench the appetite for LNG demand...

A great resource for LNG information and trends.

Nigeria, with its vast natural gas reserves, indeed has significant potential to attract more investment to meet the rising global demand for Liquefied Natural Gas (LNG). Here’s an analysis of the factors that could influence this: 1. Resource Availability Nigeria has one of the largest natural gas reserves in the world, estimated at over 200 trillion cubic feet. This abundance provides a strong foundation for increasing LNG production. 2. Current Infrastructure Nigeria has existing LNG infrastructure, primarily through the Nigeria LNG Limited (NLNG) facility on Bonny Island. However, expanding this infrastructure is crucial to scaling up production. Investments in new LNG trains, pipelines, and storage facilities are necessary to increase output. 3. Government Policies and Regulatory Environment The Nigerian government has shown commitment to developing the gas sector through policies like the National Gas Policy and the Petroleum Industry Act (PIA). These frameworks aim to create a more conducive environment for investment by addressing issues like fiscal terms, governance, and community relations. 4. Market Demand Global demand for LNG is rising, driven by the transition to cleaner energy sources. Europe, Asia, and other regions are seeking to diversify their energy sources, and Nigeria is well-positioned geographically to serve these markets. 5. Investment Climate Political stability, security, and the ease of doing business are critical factors for attracting foreign investment. Nigeria faces challenges in these areas, but improvements in governance, security, and anti-corruption measures can enhance investor confidence. 6. Technological and Operational Efficiency Adopting advanced technologies and improving operational efficiency can lower production costs and increase competitiveness. Investments in technology for exploration, production, and processing are essential. 7. Partnerships and Collaborations Forming strategic partnerships with international oil and gas companies, as well as leveraging financing from global financial institutions, can provide the necessary capital and expertise for large-scale LNG projects. 8. Environmental and Social Considerations Sustainable practices and community engagement are increasingly important. Addressing environmental concerns and ensuring that local communities benefit from LNG projects can improve project viability and social license to operate. #LNG #NaturalGas #EnergyTransition #Investment #AfricaEnergy #Nigeria #CleanEnergy #SustainableInvestment #EnergySecurity #GlobalEnergy @NLNGLimited @NNPCgroup @Shell @TotalEnergies @ExxonMobil @IEA @OPECSecretariat @EIAgov @EnergyInstitute @africa_energy (Africa Energy Chamber)

Happy Friday! In our LNG report this week: Asian spot #LNG prices have seen a slight uptick this week but remain below $10/mmBtu for the third week running as weak demand continues to steer prices. The average LNG price for March delivery into north-east #Asia rose slightly by $0.10 this week to $9.60/mmBtu, industry sources estimated. The United States' second-largest exporter #Freeport LNG said on Friday it expects one of three liquefaction units at its Texas plant will be out of service for about a month after it faced a technical issue during last week's Arctic freeze. "There was little reaction from prices after the announcement of downtime at the Freeport LNG, with ample cargo availability in the Atlantic basin," said Samuel Good, head of LNG pricing at commodity pricing agency Argus. "Lower prices have continued to underpin a rise in purchasing activity in south Asia but demand has also emerged in China, where a range of different buyers have come to the spot market, partly due to expectations for a cold end to the Chinese heating season," he added. Good said that north-east Asian prices are broadly at enough of a premium to Europe to draw spot supply from west Africa. The market's bearish momentum has slowed recently as short positions have been gradually built up during January, said Jake Horslen, senior LNG analyst at Energy Aspects. "All eyes are now on European LNG line-ups for February to try and gauge what impact the Freeport outage and Qatari diversions will have on the rate of imports in the weeks ahead," he added. In #Europe, #gas prices at the Dutch TTF hub were stable on Friday as strong wind power output and mild temperatures for the time of year curbed demand. "The markets overall are feeling very comfortable with Europe likely to end winter with storage still half full," said Alex Froley, LNG analyst at data intelligence firm ICIS. "That makes it easier to fill storage back up over summer, while by late this year and early 2025 we could start to see the impact of new U.S. production from projects like Corpus Christi stage three, meaning the global situation will be improving," Froley said. Europe’s gas stores are currently 70% full, Gas Infrastructure Europe data showed. S&P Global Commodity Insights assessed its daily North West Europe LNG Marker (NWM) price benchmark for cargoes delivered in March on an ex-ship (DES) basis at $8.509/mmBtu on Feb. 1, a $0.70/mmBtu discount to the March gas price at the Dutch TTF hub. Argus assessed the price at $8.500/mmBtu, while Spark Commodities assessed it at $8.561/mmBtu. U.S. LNG exports fell last month nearly 5% below the December record, LSEG ship tracking data showed, on cold weather and the Freeport outage. Spot LNG 3freight rates dropped for the ninth consecutive week, with #Atlantic rates estimated at $52,750/day on Friday, and #Pacific rates at $53,250/day, said Qasim Afghan, an analyst at Spark Commodities.

MARKET COMMENT: Spot LNG Prices Hold Steady in Asia by ICIS Editorial SINGAPORE (ICIS)--Spot LNG prices in Asia held steady on 24 April, as market players are closely monitoring in case geopolitical risks escalate while northeast Asian demand remains muted. Spot LNG prices have been fluctuating in the tight range, market sources said. The ICIS East Asia Index (EAX) still holds a healthy premium to the TTF with TTF open stronger early on 24 April. LNG storage at major power utilities in Japan jumped to 2.05m tonnes in the week ended 21 April from a slightly revised up 1.62m tonnes for the week ended on 14 April, Japan’s Ministry of Economy, Trade and Industry (METI) said in its latest update on 24 April. This the biggest leap so far in 2024, pushing past 2022 and into average range, according to ICIS analyst Joachim Moxon. “It’s still 0.5m tonnes below last year though, but power demand is now coming in lower year on year and nuclear availability will remain higher through the shoulder season. The only other factor keeping LNG-to-power demand up is weak coal-fired generation.” Japanese trader Diamond Gas International (DGI) sold a 7-9 June cargo to UK major BP at a $0.05/MMBtu premium to a northeast Asian marker balance of month on 24 April via an online trading platform with the destination listed as Tianjin, China, trade sources said. FREEPORT SHIPS The 161,880cbm BW Pavilion Leeara has loaded and departed from the Freeport LNG facility, according to ICIS LNG Edge, showing the resumption of shipments after a gap of nearly two weeks. The loading could have been partial, but further details were not immediately available. SHIPPING CHARTER PRICES After a brief dip in charter rates, said a shipping source, rates continue to be flat to the previous week’s. One deal was closed at $30,000/day recently, they confirmed, but said the small time window to perform the spot voyage was very short, a factor they said was key to it being chartered at a lower rate. They said that further out into May rates for two-stroke vessels are closer to the low-$40,000s/day for US-to-Europe routes and in the high-$40,000s/day for US-to-northeast Asia voyages. #lngindustry #lng #lngshipping #gas #shippinindustry

#IEEFA 💪🏻 great study for free download 👇🏻 👇🏻 👇🏻 👇🏻 👇🏻 Lackluster demand growth and a massive wave of new export capacity are poised to send global liquefied natural gas (#LNG) markets into oversupply within two years. These two trends are developing even faster than anticipated. Declining #Russian gas supplies to Europe, driven by Russia’s full-scale invasion of #Ukraine, caused a spike in #European #LNGimports that sent global prices to record highs. But despite modest new LNG export capacity additions in the last two years, prices have retreated from 2022 levels, largely due to falling demand from developed economies. In #Japan, #SouthKorea and #Europe—which account for more than half of the world’s LNG demand—combined imports fell in 2023 and will likely continue falling.  In #Japan, formerly the world’s largest #LNG importer, demand fell 8% in 2023. Since 2018, Japan’s annual LNG imports have fallen 20%. A planned increase in nuclear and renewables generation—spurred by climate and energy policies, along with years of high LNG prices—will likely send demand even lower.  In South Korea, historically the largest buyer of #US LNG, imports fell almost 5% last year. Long-term climate and energy plans in South Korea envision LNG imports falling 20% through the mid-2030s, as solar, wind and nuclear plants come online.  Europe’s LNG imports stagnated in 2023, defying expectations of rising imports to replace lost Russian gas supplies. Europe’s overall gas consumption fell 20% in the past two years due to high prices, energy security mandates and climate policies. IEEFA expects Europe’s LNG demand to peak by 2025 and decline through 2030.