Sunday, August 30, 2020

"China starts trial run of online int'l LNG trade" (plus Russia is shipping LNG to the UAE)

From Xinhua, August 28:
Shanghai Petroleum and Natural Gas Exchange (SHPGX), a national energy trading center, started the trial run of its online platform for international liquefied natural gas (LNG) trading on Friday.
China's oil giants Sinopec and CNOOC respectively reached LNG purchase deals with their foreign counterparts through the trading platform, with total trading volume at 130,000 tonnes.

Given China's market size and weight in the sector, China is well placed to establish a liquid and relevant market for LNG, said Laurent Vivier, president for the gas division of Total.

As China's largest LNG importer, CNOOC will actively participate in the online trading, and will support more domestic new players in the natural gas sector to enter the international market, said Wu Wenlai, chairman of CNOOC Gas and Power Group....

And in What the hell LNG news:
NOVATEK Shipped First LNG Cargo to United Arab Emirates

The Emirates must really, really hate Qatar. I know the Saudis do, they are moving ahead with their plan to dig a canal (moat) to turn Qatar into an island.
Qatar and Australia are jockeying back and forth for the #1 LNG producer crown.
Via the Architect's Newspaper a couple years ago:

With a new canal, Saudia Arabia plans to turn rival Qatar into an island