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Transborders Energy Pty Ltd has announced that it has signed a multi-party and multi-project FLNG solution framework agreement with the following entities for co-pursuing the deployment of Transborders’ FLNG solution on a range of stranded offshore gas resource opportunities.
This FLNG Framework Agreement is a first-of-its-kind collaborative arrangement among world class EPCI and O&M contractors, investors and LNG offtakers to collectively commercialise a series of discovered but stranded offshore gas resource opportunities.
Entities involved in the framework agreement:
Add Lucid Pty Ltd (Add Energy Group).
Kyushu Electric Power Co., Inc. and Kyushu Electric Australia Pty Ltd (collectively Kyushu Electric Power).
Japan’s Kyushu Electric sucks dregs out of LNG cargoes amid power crunch
Japan’s Kyushu Electric Power is buying the remainder of cargoes of liquefied natural gas (LNG) left after tankers discharge the fuel at ports around Asia as it scrambles for supplies to fuel power stations as electricity demand surges.
The unusual move by Kyushu Electric underscores the power crunch in Japan and other north Asian countries as exceptionally low temperatures grip the region, sending demand for heating and electricity prices through the roof while LNG suppliers have struggled to meet power companies’ needs.
“As an emergency measure, we have begun buying 2,000-4,000 tonnes of LNG left in tankers in Asia after discharging to secure fuel,” a Kyushu Electric spokesman told Reuters by phone on Wednesday.
By Reuters Staff
2 Min Read
TOKYO, Jan 15 (Reuters) - Japan’s tight power market will remain unpredictable as temperatures could drop again and there are risks of technical glitches at aged power plants and a further drop in fuel inventories, the head of utilities industry said on Friday.
This month Japanese utilities have called on the public to save power as electricity demand for heating surged with frigid temperatures gripping much of the country, sending power companies scrambling for extra supplies, especially liquefied natural gas (LNG), to fuel power stations.
“Electricity demand has soared since late last year due to serious cold storms,” Kazuhiro Ikebe, the chairman of the Federation of Electric Power Companies of Japan (FEPC), told a news conference.
by Bloomberg
|Wednesday, January 13, 2021
The North Asian LNG price benchmark has now risen 18-fold in less than nine months, outperforming other commodities even Bitcoin.
(Bloomberg) After years building out export capacity and hiring traders, producers of liquefied natural gas and commodity trading houses are seizing on an unprecedented surge in the price of the fuel.
The combination of a severe cold snap in Asia, supply outages and maritime congestion has propelled spot prices for LNG to previously unforeseen heights. The North Asian price benchmark has now risen 18-fold in less than nine months, outperforming other commodities even Bitcoin.
LNG Cargo Prices Rising Faster Than Bitcoin
Bloomberg 1/13/2021 Anna Shiryaevskaya, Andy Hoffman, Stephen Stapczynski and Sergio Chapa
(Bloomberg) After years building out export capacity and hiring traders, producers of liquefied natural gas and commodity trading houses are seizing on an unprecedented surge in the price of the fuel.
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The combination of a severe cold snap in Asia, supply outages and maritime congestion has propelled spot prices for LNG to previously unforeseen heights. The North Asian price benchmark has now risen 18-fold in less than nine months, outperforming other commodities even Bitcoin.
Winners in this rally include Exxon Mobil Corp., which sold a cargo last week for a record $130 million to Japan, and Total SE, which secured $126 million on Tuesday in a sale to trading company Trafigura Group. Other producers, such as Royal Dutch Shell Plc and Houston-based Cheniere Energy Inc., are also taking the opportunity to o