Algeria's energy minister will seek more investment from European Union states and discuss the renewal of long-term gas supply contracts with EU members during talks this week in Brussels, according to the ministry.

Monday, 10 April 2017 09:13 / Markets

Global LNG trade up by 5% in 2016.

Global traded LNG volumes rose 5% last year to reach 258 million tonnes, according to a new report from the International Gas Union (IGU).

US gas storage capacity increased slightly in 2016, according to the US Energy Information Agency, after a couple of years of marginal falls (see chart).

Singapore Exchange (SGX) and broker Tullett Prebon have launched an LNG spot index for Dubai, Kuwait and India (known as the DKI Sling), which should enhance price discovery and risk management in one of the fastest-growing regions for LNG spot trading, according to SGX.

Royal Dutch Shell plans to double the capacity of its LNG import facility at Hazira on India's west coast to 10 million tonnes a year, a top company executive said on March 31st.

An ice-breaking tanker docked for the first time at Russia's Arctic port of Sabetta to test a new route that could open the ice-bound Arctic Ocean to ships carrying LNG, including from the prolific Yamal peninsular.

A new report from the Partnership for Affordable Clean Energy (PACE) highlights the positive impact gas hedging is having in protecting electricity customers from price volatility over the long term.

The US Energy Information Administration (EIA) says growing LNG trade could support the development of an Asian LNG benchmark.

The world's biggest LNG buyers are clubbing together in an attempt to secure more flexible supply contracts in their negotiations with producers. Flexibility is becoming critical for many LNG buyers, as the rise of solar capacity makes consumption of LNG more seasonal.

Shell says its QGC joint venture in the Australian state of Queensland is to drill up to 161 additional wells - a move that enables further supply for both domestic customers and exports. The announcement comes just over a week after Australia’s Prime Minister Malcolm Turnbull threatened to curb LNG exports unless big producers did not provide more gas for the domestic market.

Intercontinental Exchange (ICE) is launching its first-ever US LNG futures contract in May, as exports from the US begin to rise sharply.

Cheniere has filed a request with the US Federal Energy Regulatory Commission (FERC) to begin the commissioning process of its fourth liquefaction train at the Sabine Pass LNG project in Louisiana.

The UK Government has given approval for the development of a major new gas storage and balancing facility in Cheshire.

Centrica has won approval to reduce the minimum capacity of the UK’s biggest gas storage facility to zero.

The rise in oil prices from last summer onwards is now filtering through to Russian contract gas prices, while at the same time LNG prices and European benchmarks are falling – making Russian gas less competitive and increasing the likelihood of large volumes of LNG moving to Europe. The trend comes after a period of record Russian gas imports to Europe, coinciding with low gas prices linked to crude’s earlier weakness in 2015 and the first half of 2016.