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Column: Spot Asia LNG prices rally as China moves early on summer demand

4 Min Read
LAUNCESTON, Australia (Reuters) - The price of spot liquefied natural gas (LNG) for delivery to north Asia has started its traditional summer rally early this year as buyers fret about the potential for supply shortages when the peak demand season arrives.
FILE PHOTO: A liquified natural gas (LNG) tanker leaves the dock after discharge at PetroChina s receiving terminal in Dalian, Liaoning province, China July 16, 2018. REUTERS/Chen Aizhu/File Photo
The spot price rose to $8.85 per million British thermal units (mmBtu) in the week to April 30, up from $8.65 the prior week and the highest since Jan. 22.
The post northern winter low was $5.60 per mmBtu on Feb. 26, and working on the assumption that prices don’t dip in coming weeks, this would be a considerably earlier low than in the previous five years. ....

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RPT-COLUMN-Spot Asia LNG prices rally as China moves early on summer demand: Russell

4 Min Read
(Repeats earlier story for wider readership with no change to text. The opinions expressed here are those of the author, a columnist for Reuters.)
GRAPHIC - Spot Asian LNG price by year: tmsnrt.rs/3gZIF9u
LAUNCESTON, Australia, May 4 (Reuters) - The price of spot liquefied natural gas (LNG) for delivery to north Asia has started its traditional summer rally early this year as buyers fret about the potential for supply shortages when the peak demand season arrives.
The spot price LNG-AS rose to $8.85 per million British thermal units (mmBtu) in the week to April 30, up from $8.65 the prior week and the highest since Jan. 22. ....

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Saudi Arabia sees over $200 billion in savings from energy reforms plan - Finance Minister

3 Min Read
DUBAI (Reuters) - Saudi Arabia could save over $200 billion over the next decade by replacing liquid fuel used for domestic consumption with gas and renewable energy sources, the finance minister said, as the kingdom seeks to cut costs to fund investments.
FILE PHOTO: Saudi Minister of Finance Mohammed al-Jadaan gestures as he speaks during a news conference to announce the country s 2021 budget, in Riyadh, Saudi Arabia December 15, 2020. REUTERS/Ahmed Yosri/File Photo
The world’s top oil exporter has embarked on an ambitious reforms programme in recent years to modernize its economy, create jobs, and reduce its dependence on oil revenues. ....

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Uzbekistan, Dutch firm sign $1.2 billion power plant deal

By Reuters Staff
2 Min Read
TASHKENT (Reuters) - Uzbekistan has signed a $1.2 billion deal for a Dutch-registered company to build a 1,560 megawatt gas turbine power plant in the Central Asian nation, the Uzbek energy ministry said on Tuesday.
The company, Stone City Energy, says on its website it is a special-purpose vehicle set up to develop power generation projects in Uzbekistan. It does not disclose it founders.
Stone City will design, finance, build, commission, operate and manage the power plant for 25 years after launching it at the end of 2024.
“The thermal power plant will employ the latest technologies, including modern HL class steam and gas units manufactured by Siemens Energy, which will save 1.1 billion cubic metres of natural gas annually,” the ministry said in a statement. ....

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China Q1 crude oil imports at 139 million tonnes - customs

China's Q1 crude oil imports were at 139 million tonnes, according to a statement by the General Administration of Customs on Tuesday. ....

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