Powering a country is not easy work. It may seem like a simple task for a relatively small country like the UK, but when you don’t have the landmass, or the right kind of geography, it can be complicated. (more…)
Last month, LNG cargo deliveries to the UK were up 150% compared to the same period last year, driven by a surge in spot cargoes from Qatar and Nigeria. This increase is a consequence of waning Asian demand, increased supplies from new players in the market, and a switch in strategy from the world’s biggest LNG exporter, Qatargas.
Qatargas is under pressure from a number of new players in the market, which has created a supply overhang and a subsequent fall in price. To date, Japanese imports of LNG are down 3.1% year-on-year, all due to mild winter, a cooler summer, and the restart of one nuclear reactor with more to follow. Additionally, South Korea demand is down 11.6% to date this year as they are using less gas-for-power generation and increasing coal-fired and nuclear generation.