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Latest issue of The LNG Markets
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Highlights of Issue :

A global rebound from Covid-19 combined with extraordinary demand for winter LNG cargoes, lowest EU gas storage level in five years and gas supply trouble in the US- first due to hurricane Ida and now hurricane Nicholas has pushed natural gas and LNG prices to its record high level.
Early in September, Hurricane Ida disrupted sizable feed gas supply in the US and now on Sep 14 hurricane Nicholas knocked out Freeport LNG liquefaction facility on the Texas Gulf Coast.

Kamlesh Trivedi

Editor
kamlesh@lngworldwide.com

 

Trade Overview
Steep rise in winter prices feared by Asian European importers
 
  News

India's Petronet LNG-ONGC Videsh in talks to buy 9.9% stake in Arctic LNG 2 of Russia

Indian energy companies Petronet LNG and ONGC Videsh Limited (OVL) are holding talks to buy a stake in Russia’s planned LNG liqufaction project Arctic LNG 2. The companies are talking about acquiring a 9.9% stake from Novatek PJSC. So far, no final decisions have been made, as per a member of the Indian energy delegation in Moscow, according to a report in Bloomberg.

Prime Minister Narendra Modi’s vision is to transform the economy into one powered by clean fuel. The share of the super-chilled fuel is likely to double to 15 per cent of the country’s energy mix by 2030. This development comes as the country is seeking to secure supplies of clean fuel.
Minister of Petroleum and Natural Gas Hardeep Singh Puri told reporters at a briefing in Moscow that Indian companies are in contact with Novatek for Arctic LNG 2. He headed the energy delegation at the Eastern Economic Forum in Vladivostok last week.

Novatek is Russia’s largest producer of LNG and owns 60 per cent in the $11-billion Arctic project, along with France’s TotalEnergies SE, China National Petroleum Corp and Cnooc Ltd and a Japanese consortium that have 10 per cent each.


 
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