Natural Gas News – January 26, 2023
Natural Gas News – January 26, 2023
African countries tap into global gas demand with new floating
A floating liquefied natural gas (FLNG) terminal is a mobile platform or vessel used to liquefy and store natural gas from offshore fields. The have begun popping up around Africa, allowing the continent to quickly tap into global gas demand and monetise abundant untapped reserves. Russia’s invasion of Ukraine and the consequent economic fallout pushed up global demand for gas, causing prices to skyrocket and European countries to suddenly jostle for Africa’s natural gas. Three African countries – Nigeria, Mozambique and the Republic of Congo – launched floating terminals over the past three months to tap into this rising demand as Europe races to get its hands on as much non-Russian gas as possible. It’s a trend that is likely to grow, according to industry insiders. “The market for FLNG terminals is expected to… For more info go to https://bit.ly/3JhDlN5
Gas market will be ‘tight’ in medium term amid high demand
The market for liquefied natural gas will be “tight” in the medium term as demand recovers in China and Europe boosts imports of the super-chilled fuel, according to the chief executive of Inpex, Japan’s largest oil and gas exploration company. “The demand and supply situation will continue to be relatively tight perhaps until the end of 2030, but no one knows what will happen after that,” Takayuki Ueda told The National in an interview on Tuesday. Global competition for LNG cargoes is set to intensify after China, the world’s second largest economy, reopened its borders for the first time in three years. “The demand in China will increase after [the lifting of Covid-19 curbs] … that’s a good thing for us,” said Mr Ueda. On the supply side, decisions from the Opec+ group of oil producers… For more info go to https://bit.ly/3R7DAMq
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