Articles filed under Asia

Asia’s emerging economies and growing population are expected to sustain growth in the global LNG market and help absorb excess supplies hitting the water later this decade as new export projects come online.

A sustained heat wave over India since mid-spring has created a surge in natural gas-fired power generation, pushing LNG imports in May to the highest level in almost four years.

Shell plc is making good on ambitions to expand its global LNG business with an agreement to acquire Pavilion Energy Pte. Ltd. – and its 6.5 million metric tons/year (mmty) of contracted supply.

China, the world’s largest LNG importer, could bring in up to 80 million tons (Mt) this year as strong demand from the industrial, power generation, and transport sectors support consumption.

South Korea’s recent oil and gas discovery off its southeastern coast could eventually reduce the country’s reliance on fossil fuel imports, but the discovery’s commercial development is unlikely to happen before the next decade.

Chevron Corp. said Tuesday it has shut down LNG production at its Wheatstone export terminal in Western Australia for repairs at a time when other outages are keeping the global natural gas market tight.

More Asian buyers have turned to TotalEnergies SE and its massive LNG portfolio bolstered by flexible U.S. supply to meet medium- and long-term natural gas demand.

Taiwan’s CPC Corp. said Wednesday it would purchase more natural gas from Qatar and take a share in the massive North Field LNG expansion project being developed there.

Asian buyers are seeking more LNG spot cargoes and shoring up long-term supply while Europe awaits the impacts from further cuts of Russian natural gas imports and global terminal outages.

As negotiations with Russia for regional export projects have failed, Turkey is working with other partners and moving forward on plans to form a regional natural gas export hub.