Louisiana Light • 2 days | 80.56 | +0.97 | +1.22% | |||
Bonny Light • 1 day | 80.18 | -1.62 | -1.98% | |||
Opec Basket • 2 days | 83.89 | +0.49 | +0.59% | |||
Mars US • 28 days | 79.71 | -2.05 | -2.51% | |||
Gasoline • 11 mins | 2.170 | -0.006 | -0.26% |
Bonny Light • 1 day | 80.18 | -1.62 | -1.98% | |||
Girassol • 1 day | 80.80 | -1.76 | -2.13% | |||
Opec Basket • 2 days | 83.89 | +0.49 | +0.59% |
Peace Sour • 3 hours | 59.71 | -1.90 | -3.08% | |||
Light Sour Blend • 3 hours | 63.56 | -1.90 | -2.90% | |||
Syncrude Sweet Premium • 3 hours | 68.16 | -1.90 | -2.71% | |||
Central Alberta • 3 hours | 61.71 | -1.90 | -2.99% |
Eagle Ford • 2 days | 74.34 | +1.45 | +1.99% | |||
Oklahoma Sweet • 2 days | 74.00 | +1.25 | +1.72% | |||
Kansas Common • 4 days | 65.00 | -0.75 | -1.14% | |||
Buena Vista • 4 days | 80.98 | -0.43 | -0.53% |
The dated U.S. gas grid…
This year saw higher production…
The Egyptian Petroleum Minister has stated that Qatar will grant his country five shipments of natural gas to help them through the summer, when temperatures soar and electricity consumption rises in response.
Qatar’s Energy and Industry Minister, Mohammed al-Sada, said that “Qatar will supply five cargoes of liquefied natural gas as a gift to the Egyptian people during the summer months, with the first of these shipments beginning at the end of July (and continuing) until mid-September.”
Qatari Prime Minister, Sheikh Hamad bon Jassim al-Thani said that his country would extend gas supplies to Egypt as needed throughout the summer. Egypt struggles to meet its energy demands at the best of times, but demand rises in the hot summer months, and blackouts are a common occurrence.
Related article: Canadian Company Strikes Deal for LNG Exports to Europe
Egypt lacks the infrastructure to receive LNG shipments itself, meaning that Qatar cannot actually ship the natural gas directly to Egypt. Instead, Egypt will take natural gas produced by foreign companies within its borders, and then Qatar will export its LNG directly to the customers of those foreign companies as recompense.
No mention was made as to the size of the five shipments that Qatar has pledged, but assuming a typical Qatari shipment as being 210,000 cubic metres, and using the prevailing Asian spot prices for LNG, ArabianBusiness calculated that the cargoes would be worth around $321 million on the spot market.
By. Joao Peixe of Oilprice.com
Oil Prices Fall Further As U.S. Crude Oil Inventories See Major Build
Second Israel-Linked Vessel Seized in the Gulf of Aden
OPEC Said To Consider Additional 1 Million Bpd Output Cut
OPEC+ Reaches Preliminary Agreement to Deepen Oil Production Cuts
Crude Oil Inventory Balloons but Gasoline, Diesel Inventories Fall
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com