Natural gas prices in Europe and Asia are moving higher as the market has continued to tighten in a trend that’s setting the stage for a bullish summer for liquefied natural gas (LNG) exports.
Both the prompt Title Transfer Facility (TTF) and National Balancing Point contracts jumped above $7/MMBtu last week, while Japan-Korea Marker (JKM) futures shot above $8. The strength has spilled into this week as buying remains strong in both regions. All three benchmarks closed higher on Monday and Tuesday.
“The writing is on the wall, the global gas market is incredibly tight right now, and we don’t see this reversing course anytime soon,” said analysts at Tudor, Pickering, Holt & Co (TPH).
Pavilion Energy Singapore Pte. Ltd. has imported a carbon neutral LNG cargo into Singapore, a first for the company and the country.
Pavilion Energy Singapore Pte. Ltd. has announced that it has imported a carbon neutral LNG cargo into Singapore, a first for the company and the country, Pavilion Energy highlighted.
Carbon emissions associated with the LNG cargo from well to tank - including the extraction, production, transportation, and regasification - will be offset by retiring a corresponding amount of carbon credits sourced from the company’s portfolio of carbon offset projects, Pavilion Energy revealed.
The carbon credits used for the offset are from Natural Climate Solutions projects certified under the Verified Carbon Standard (VCS) and Climate, Community and Biodiversity Standard (CCB), Pavilion Energy noted. The projects - Evio Kuinaji Ese’Eja Cuana in Peru and Liangdu Afforestation in China - focus on the protection and restoration of forests and promote co-benefits
Singapore Natural gas company Pavilion Energy Singapore said April 15 that it has imported Singapore s first carbon neutral LNG cargo, following its recent agreements that required suppliers to provide a statement of greenhouse gas emissions measured from well to discharge port.
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Singapore s first carbon neutral LNG cargo is in line with a growing trend of similar clean fuel imports by Japan, China and South Korea, and part of the city-state s long-term climate change mitigation plan called Singapore Green Plan 2030.
Pavilion Energy, a fully owned subsidiary of the state-owned investment company Temasek, didn t disclose details of the cargo.
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