In a global gas market, LNG provides diversification and optionality both for producers and consumers. In this presentation, an LNG tightness indicator, designed with the help of Argus Media, is used to aid our understanding of gas markets dynamics, as well as spare capacity calculations published in the first OIES quarterly gas review.
In 2017, a gas crisis emerged in Australia’s East Coast gas market. Gas prices had increased rapidly from mid-2016 as the full effect of the three LNG projects starting operations on Curtis Island worked through the gas market, putting domestic energy users under pressure. In March 2017, the Australian Energy Market Operator (AEMO) forecast gas […]
The cost of shipping LNG has always been an important element to include in the assessment of new LNG project breakeven economics, or in selecting the optimum destination for a spot cargo of LNG. This Energy Insight was prompted a perception that convenient rules of thumb for LNG transport costs were becoming outdated. Until recently, […]
With energy demand in Africa forecast to grow quickly in the coming decades, the prospects of LNG imports have been talked up by many commentators, with Ghana being thought of as one of the brightest prospects. Ghana first began developing its gas market by importing pipeline gas from Nigeria, along the West African Gas Pipeline, […]
Earlier this week, Saudi Arabia, the UAE, Bahrain and Egypt cut diplomatic and economic ties with Qatar, accusing Qatar of supporting extremism. The measures are of unprecedented severity in modern GCC diplomacy with adverse consequences for Qatar, not least for its reputation as a business and international and regional transit hub and as host for […]
Howard Rogers, Chairman, Natural Gas Research Programme, Oxford Institute for Energy Studies, reveals the relative strengths of different groups of players in today’s LNG market particularly portfolio players vs other players.
Following the introduction of its Gas Market Law in 2001, gas demand in Turkey grew rapidly during the 2000s, tripling to almost 50bcm by 2014. Since then, however, growth has slowed dramatically (even declining in 2016) as the government has come to regard its import dependence (imported gas accounts for 98 per cent of total […]
The recently announced intention by Qatar to lift its long-running moratorium on new LNG projects and to produce some 20 bcma of LNG in 5 to 7 years’ time is a highly significant development for the LNG industry. With its low-cost base and high condensate and LPG co-production, Qatar can compete with any of the […]
Historically the cornerstone of the LNG industry has been the long-term oil indexed contract with restrictions on destination flexibility. However, market liberalisation in North America, the UK and Northwest continental Europe, the temptation to make contracts more flexible to capture arbitrage upside and large volumes of destination flexible US LNG under development – have encouraged […]
Over the past two to three years growing LNG demand in South America has provided an important outlet for LNG supply, in particular in 2016 when the majority of new US LNG exports ended up being delivered to the region. However, towards the end of the year and into 2017 that extra demand has fallen […]
2017 will be a momentous year for Russia’s LNG business, as the Yamal LNG project is due to come online by the end of the year. This will not only be the first Russian-operated LNG development, but will also mark a major shift in the Russian gas sector, as Novatek, rather than Gazprom, has been […]
Many readers will be familiar with Aesop’s Fable ‘The Boy Who Cried Wolf’. The tale concerns a shepherd boy who repeatedly tricks nearby villagers into thinking wolves are attacking his flock. When one actually does appear and the boy again calls for help, the villagers believe that it is another false alarm and the sheep […]
OPEC at the Crossroads https://t.co/plmceBzfEr
Oxford Energy Podcast – Implications of the DG COMP investigation into Gazprom https://t.co/eGEsZZLHOD
Jonathan Stern on whether Germany should dump Nord Stream 2: It will be needed soon, even if not at the end of 2019… https://t.co/VS4lvpLM2h