This week, we welcomed some new LNG cargoes as well as some changes in LNG export numbers. Many markets and industries are at low levels, while renewables are on the rise.
Prelude, the world’s largest floating LNG platform and offshore facility, shipped its first cargo last week.
Australia is now the world’s largest LNG exporter in terms of capacity, finally overtaking Qatar.
The UK GDP fall was the largest since Mar 2016. Service data was poor too and the impact worse as it accounts for ¾ of the UK economy.
Chinese industrial production is at a 17-year low.
Heavy maintenance and unplanned outages see UK nuclear output at a 3.5-year low.
Coal markets continue to fall due to weaker global demand and rising inventories.
Investments in renewables are escalating across Asia.
The risk of a no deal Brexit has risen as there is now a 70% chance of Boris Johnson being elected prime minister.
Insurance premiums are rising for cargoes sailing through the Strait of Hormuz due to geopolitical strain.
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