Natural Gas Daily: May 14th, 2020
Gazprom Exports Down 19% in Q1: Press
Gazprom's gas exports to Europe plunged 19.2% year on year in the first quarter, a source familiar with the data told Reuters, landing at 39.62bn m3. This is similar to the figure calculated by Thierry Bros, of 20.5%, for the period, in his analysis of Gazprom's pipeline gas exports.
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The Big Picture:
- The company, which meets around 35% of Europe's gas demand, was forecasting stable export volumes as recently as February.
Oz LNG Exports in April Up 3%: EnergyQuest
Australian LNG exports in April were 6.9mn metric tons, marginally higher than 6.8mn mt in March, and up 3% yr/yr, energy consultancy EnergyQuest said in its monthly report.
The Big Picture:
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“Notwithstanding the global surplus of LNG and slowdown in economic activity due to Covid-19, Australian LNG shipments are holding up well,” it said. Australia’s April shipments were 84.2mn mt/yr on an annualised basis.
Bangladesh to Double Fossil Fuel Imports by 2030: WoodMac
Bangladesh is expected to double its fossil fuel imports to 32mn tons of oil equivalent between 2020 and 2030, with LNG and coal accounting for most of the growth, Wood Mackenzie wrote in a note.
The Big Picture:
- "While growing working age population, urbanisation and rising income levels continue to spur domestic demand, it is electrification needs in the power, export-driven textile and jute, and fertiliser industries that will drive the country's energy demand growth this decade", WoodMac said.
Japanese April Spot LNG Price Drops Sharply
The average price of spot LNG imports into Japan contracted in April was $2.4/mn Btu, sharply down from $5.2/mn Btu in the same month a year earlier, the country's trade ministry said.
The Big Picture:
- Compared with March, the price was down 29.4%.
Industry Pins Net-Zero Carbon Hopes on Hydrogen: Survey
Hydrogen has surged up the priority list of many oil and gas organisations, being seen as the key to global decarbonisation efforts, according to a new survey of over 1,000 senior oil and gas professionals.
The Big Picture:
- The success of a hydrogen energy economy is closely aligned with the future of natural gas, renewable energy, and carbon capture and storage (CCS) technology.
EIB Mulls Loan for Greece-N Macedonia Gas Link
The European Investment Bank (EIB) is considering providing €25mn ($27mn) in financing for the construction of a gas link between Greece and North Macedonia, according to a message posted on its website.
The Big Picture:
- It would enable the supply of gas from Greece's Revithoussa LNG terminal and other sources to North Macedonia and potentially onto Kosovo and Serbia.
