The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

GLOBAL LNG-Prices poised to firm as new buy tender and outages bite

Fri, 08th Jul 2016 17:00

* Output from Angola and Gorgon uncertain

* New demand from Argentina, India and possibly Egypt

MILAN, July 8 (Reuters) - Asian prices for liquefied naturalgas (LNG) were set to rise next week on strong prompt demandfrom Argentina and India as well as potentially lengthier supplydisruptions in Australia and Angola.

However, this week Asian spot LNG prices tradedlower at $5.25 per million British thermal units (mmBtu), down25 cents since last week.

More supply in Asia helped lower prices following a streakof gains recently, but uncertainty over when Chevron Corp's newly-built Gorgon LNG export plant will resume cloudedoutlooks.

Last week Chevron suspended production at Gorgon due to agas leak and said operations would resume a week later, althoughit is not clear if that is still the case.

A shipping schedule released before the leak showed Gorgonwould export on July 9 using the Asia Excellence tanker, whichis anchored nearby, shipping data shows.

Supply from the Chevron-led Angola project also seems tohave slowed compared with an initial burst of cargoes after theplant restarted in June following a two-year rebuild.

A tender for a fourth Angolan cargo was cancelled last week,and has not been relaunched yet, prompting speculation aboutoperational issues.

In terms of demand, Argentina launched a major buy tenderfor 10 LNG cargoes, three of which are for the Bahia Blancaterminal with the remainder for the river terminal at Escobar.

Nine of the cargoes are due for September delivery and oneshipment is for late August, industry sources said.

A tender Egypt is expected to offer for additional supplymay help push prices higher if it materialises next week, theysaid.

Indian buyers were also heard to be in the market seekingsupply.

Shell reported a small fire at the constructionsite in South Korea for its huge floating Prelude liquefiednatural gas (LNG) project, with work resuming immediately and aninvestigation underway.

France's new Dunkirk LNG import terminal received itsinaugural shipment on Friday from the Madrid Spirit tanker,majority owner EDF said in a statement.

(Reporting by Oleg Vukmanovic; Editing by Ruth Pitchford)

More News
27 Oct 2022 07:30

Shell announces $4bn share buyback as Q3 profits beat expectations

(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.

Read more
21 Apr 2022 11:53

Shell turning to China to offload Russian business - report

(Sharecast News) - Shell is reportedly looking to China as it looks to offload its Russian business.

Read more
15 Feb 2022 15:54

Shell preparing to sell North Sea gas fields - report

(Sharecast News) - Shell is reportedly preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, part of an ongoing retreat of long-time producers from the ageing basin.

Read more
7 Feb 2022 10:52

Berenberg nudges up target price on Shell

(Sharecast News) - Analysts at Berenberg slightly raised their target price on oil and gas giant Shell from 2,350.0p to 2,375.0p on Monday, stating the firm was "on a roll".

Read more
31 Jan 2022 10:53

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

Read more
31 Jan 2022 07:48

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

Read more
28 Jan 2022 11:25

Shell's renewables boss steps down after less than two years

* Elisabeth Brinton leaves for new role, she says* Shell creates two new renewables leadership roles* Thomas Brostrøm to head renewables generation* Steve Hill to head energy marketingBy Ron BoussoLONDON, Jan 28 (Reuters) - Shell's head of renewable...

Read more
27 Jan 2022 16:14

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
26 Jan 2022 17:02

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

Read more
26 Jan 2022 14:36

China's Sinopec awards fewer cargoes in recent LNG tender

By Chen Aizhu and Marwa RashadSINGAPORE/LONDON, Jan 26 (Reuters) - Unipec, the oil and gas trading arm of China's Sinopec Corp has awarded fewer-than-planned cargoes in a recent tender to sell up to 45 cargoes of liquefied natural gas for 2022 del...

Read more
26 Jan 2022 12:16

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

Read more
26 Jan 2022 09:33

UPDATE 2-Commodity, bank stocks lead FTSE 100 higher; Playtech drops

* Oil and banking shares top gainers* Wizz Air reports Q3 loss, expects improvement in spring* FTSE 100 up 1.3%, FTSE 250 add 1.1% (Updates to market close)By Shashank Nayar and Ambar WarrickJan 26 (Reuters) - London's FTSE 100 rose on Wednesday wit...

Read more
26 Jan 2022 09:12

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

Read more
25 Jan 2022 21:13

UPDATE 1-U.S. awards 13 mln barrel exchange of crude from strategic reserve

(Adds details on sale, background on 50 million barrel SPR plan)WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to ...

Read more
25 Jan 2022 20:10

U.S. awards exchange of 13 mln barrels of crude from strategic reserve

WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to seven companies.The companies are Shell Trading US, 4.2 million ...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.