Spot prices of liquefied natural gas (LNG) in Asia surged to their highest level in more than 20 months this week as strong buying and lower than expected winter temperatures, trade sources said. The average price of LNG delivered to Northeast Asia’s lng-as in December is estimated to be about $6.90 per million British thermal

As part of its plan to reduce greenhouse gas emissions and achieve carbon neutrality by 2050, the EU will consider establishing an internationally level and legally binding framework to reduce methane emissions, including in the energy sector. In the EU’s strategy to reduce methane emissions released on Wednesday, the European Commission said the scope of

The International Energy Agency (IEA) has recently raised its forecast for global gas demand this year, but it has seen the biggest decline in history due to the impact of the popular covid-19. The Paris based agency said on Monday that demand for natural gas is now expected to fall by 3 per cent, or

Global copper smelting activity recovered in August, mainly due to the sharp increase in North American copper smelting activities, while copper smelting in China continued to decline. The global activity dispersion index averaged 44.2 in August, an improvement over the previous quarter, but was still the lowest since 2016 (41.5). China’s activity dispersion index further

Global demand for marine fuel is expected to decline by as much as 17% due to the impact of the new coronavirus pandemic on Global trade, an industry executive said at a meeting on Wednesday, providing conditions for further integration among marine fuel suppliers. Uni einemo, head of the International Fuel Industry Association (ibia), said

Affected by the epidemic, the global economic recovery has stalled, leading to a further increase in global oil supply, prompting traders, including Trafigura, to book tankers to store millions of barrels of crude oil and finished fuel at sea again. With the so-called shipboard floating storage, the traditional onshore storage capacity is still close to

According to a recent report released by the New Energy Finance (bnef) of Bloomberg, the global refining capacity will continue to expand despite the demand and price shocks caused by covid-19. By 2025, the world’s new investment in downstream refining and integrated chemical capacity will reach an average of US $55 billion per year, which

Recently, Shanghai oil and gas trading center issued the international LNG trading business rules to the main participants of domestic and foreign LNG markets. The international LNG trading business of Shanghai oil and gas trading center has been put into trial operation on August 28. While complying with the relevant domestic management regulations, Shanghai oil

Although the oversupply of purified terephthalic acid (PTA) in Asia has eased recently, with a large number of new capacity coming into use, market participants expect that the market may be surplus again in the near future, and the market will fall into a downturn. China’s PTA oversupply eased in August because of planned maintenance

Recently, IHS Markit analysts said that global PVC prices continued to rebound from May lows, supported by planned and unplanned suspension of ethylene industry chain and rising trend of ethylene price. They expect the global PVC market prices to remain firm in August due to the tightening regional supply and demand balance. According to IHS