Canada - The Sleeping Giant [LNG Condensed]

Volume 1, Issue 3 of LNG Condensed (March 2019) is now available. 

In this issue:

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Canada - The Sleeping Giant

With massive untapped gas reserves and coastlines on both the Atlantic and Pacific basins, Canada has the potential to become an LNG exporter of global importance. But the significance of Canada’s entry into the LNG market may prove far greater than the simple addition of another LNG exporting country.

> Editorial: Pressure Testing the European gas Market

Spot prices for LNG delivered into Asia have sunk to around $5/mn Btu, the lowest level in years, reflecting increased supply and lacklustre demand as a result of a relatively warm northern hemisphere winter. China’s February imports may have been up a healthy 9.7% year on year, but this was significantly less robust than Jan- uary’s 27.8% year-on-year increase. Japan, South Korea and India all saw February LNG imports fall substantially -- by 11.4%, 16.5% and 9.2% respectively year on year, accord- ing to provisional data.

> Feature: South Asia’s Shifting NGV Opportunities

High oil prices and environmental concerns have reawakened South Asian interest in natural gas vehicles (NGVs). Pakistan’s political changes make its future direction hard to call, Bangladesh faces gloomy sales, but India looks set to storm ahead. However, market direction is currently reliant on political decisions rather than price signals. Energy market liberalisation backed by LNG imports could completely change the picture.

> Feature: Small-Scale LNG Opens Up Markets

Small-scale LNG describes a range of activities, all of which have one thing in common – they extend the reach of LNG into new markets. The competition is generally oil products, which LNG is well placed to beat, both on price and in terms of its near absence of sulphur and relatively low CO2 emissions. Capital costs are comparatively low and small- scale LNG can piggy-back off existing large-scale infrastructure to reach otherwise inaccessible markets.

> Country focus: Philippines: Major Potential for Small-Scale LNG

The Philippines is on the way  to becoming a consumer of LNG for the first time. Manila-listed Phoenix Petroleum in March received shareholders’ approval for its LNG joint venture with China’s Cnooc. The joint venture, Tanglawan Philippine LNG, plans to start work on a 2.2mn mt/ yr terminal this year, with the start of commercial operations targeted for 2023.

> Project spotlight: Arctic LNG 2

The completion ahead of schedule and on budget of Yamal LNG’s first trains in 2018 was a watershed moment for Russia, marking not just the start-up of the country’s second LNG plant, but the first to be built by an independent gas producer, Novatek.

And more!

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