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Apos;There Is Hardly Any Gas apos;: LNG Price Rally Exacerbates Gas Crunch...

2021-01-08T03:17:44Z

CPMRose252:

By Jessica Jaganathan SINGAPORE, Dec 17 (Reuters) - Surging spot prices for liquefied natural gas (LNG) are exacerbating a gas supply crunch in key fast-growing emerging markets in Asia just as a cold spell in other parts of the region boosts demand for the fuel. Companies from Pakistan to China have [http://www.thefashionablehousewife.com/?s=cancelled cancelled] a flurry of LNG tenders this week, several trade sources said, as lofty prices risk pushing up the input costs of industries, which could make energy more expensive for consumers. Benchmark Asia spot LNG prices <LNG-AS> have soared sevenfold since May to [http://edition.cnn.com/search/?text=six-year six-year] highs, driven by production losses in Australia, Malaysia, Norway and Qatar combined with accelerating use in China, India and elsewhere. "Buyers with no alternatives are now paying top-dollar for prompt cargoes in January," said Chong Zhi Xin, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] a director at consultancy IHS Markit. The state buyer for Pakistan - one of the fastest growing LNG markets - did not award an emergency tender seeking three cargoes for delivery in January after it received high prices, according to sources. Power plants may opt to burn dirtier but cheaper fuel oil instead, the sources said, but are also facing rising prices in that market. In India, Gujarat State Petroleum Corp (GSPC) and Indian Oil Corp did not award tenders seeking cargoes for January to February delivery, trade sources said. In Bangladesh, gas shortages are already apparent. "We don't have gas for cooking until (the) afternoon during the winter season. There is hardly any gas. I can't even boil water, let alone cook food," said Sumi Akter, a mother of two in the capital, Dhaka. Bangladesh has only imported one spot cargo this winter despite issuing several tenders over the past few months, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html kynghidongduong.vn] a senior energy ministry official said. "We have started importing from the spot market but the effort was not successful because of the abnormally high prices," the official added. Buyers in China, the world's second largest LNG importer after Japan, are also feeling the pinch, with one steel trader reporting a rise of around 2% in billet prices in steelmaking hub Tangshan, due to the rise of natural gas prices. Steel mills use natural gas to fuel their furnace for production. China's top buyers PetroChina and China National Offshore Oil Corp (CNOOC) did not award tenders placed on the Shanghai Petroleum and Natural Gas Exchange, while Guangzhou Gas and Guangdong Energy also recently did not award tenders, traders said. Higher prices combined with a gas supply crunch have seen operations at liquefaction plants in some areas in northern China being cut by 20% to 40%, sources added. Top LNG importer Japan's spot power prices have also surged to their highest since July 2018 as cold weather has driven demand for heating. "The LNG prices have reached a point where I don't think it's viable for some price-sensitive buyers," a Singapore-based LNG trader said. A tight shipping market has also accentuated the recent market supply pinch. "It's really the perfect storm, and the fundamentals have supported the price rally," said Robert Sims, research director at Wood Mackenzie. (Reporting by Jessica Jaganathan in Singapore, Ruma Paul in Dhaka, Gibran Naiyyar Peshimam in Islamabad, Muyu Xu in Beijing, Nidhi Verma in New Delhi and Aaron Sheldrick in Tokyo; Editing by Ana Nicolaci da Costa)

China Has Banned Imports From A Sixth Australian Meat Supplier Without Giving A Reason

2021-01-07T21:33:22Z

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China has banned imports from a sixth Australian meat supplier without giving a reason. Queensland meat company Meramist, based in Caboolture, was blacklisted by the China's General Administration of Customs on Monday. China banned four of Australia's largest meat processors in May citing issues with labelling and health certificates and in August suspended imports from a fifth plant. China has banned imports from a sixth Australian meat supplier without giving a reason. Pictured: An Australia export ship A fridge displaying beef from Australia on sale at a supermarket in Beijing last month Analysts have accused Beijing of using trade as a 'weapon of statecraft' to pressure Australia into becoming more friendly to China. Relations between the nations have rapidly deteriorated since Scott Morrison called for an inquiry into the origins of coronavirus which was identified last year in the Chinese city of Wuhan before spreading around the world, causing 1.5million deaths. Last month Beijing slapped a 212 per cent tariff on Aussie wine and held up Australian lobster and coal exports at Chinese ports. On Sunday Beijing claimed that [/news/coronavirus/index.html coronavirus] may have spawned outside [/news/china/index.html China] and travelled to a wet market in Wuhan via frozen food exports from countries including Australia. An article in the government-controlled [ ] newspaper said the idea the virus was imported into the Huanan wet market last year 'cannot be ruled out' - although it admitted there is no supporting evidence. Beijing has been pushing the theory since October when [https://knoji.com/search/?query=experts%20tracing experts tracing] an outbreak in Qingdao city found living coronavirus samples on packets of imported frozen cod. Customers buy meat at a market in Shenyang, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html kynghidongduong.vn] in China's northeastern Liaoning province Coronavirus cases were first reported in Wuhan in December before spreading rapidly around the world, causing 1.5million deaths. Pictured: Temperature checks in Guangzhou in January Western scientists say the theory is 'highly speculative' and believe it is much more likely that the disease passed from bats to another animal species and then to[# Previous][# Previous] [# 1] [# Next] [/news/article-9024311/China-claims-coronavirus-started-AUSTRALIA.html China claims coronavirus may have started in AUSTRALIA and...] [/news/article-9025133/Western-Australia-finally-open-NSW-Victoria-TOMORROW.html Western Australia WILL finally open to NSW and Victoria from...] Share this article Share The article quoted a local seller saying most frozen food sold at Huanan Seafood Market is imported from abroad. 'The products produced in China are clean. I am not sure about imported goods,' the seller said. The article also listed customs data which showed that Hubei, the province that contains Wuhan, had a 174 per cent increase in frozen product imports in 2019 compared with the previous year. However, the authors admitted there was no evidence to support the theory that the virus started outside China. Biejing has claimed that coronavirus may have spawned outside China and [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] travelled to a wet market in Wuhan (pictured) via frozen food imports from other countries including Australia An anonymous expert was quoted as saying: 'Theoretically, it is possible that coronavirus from other countries caused the early outbreak in Wuhan, but we lack evidence.' China cites frozen food packaging as a Covid-19 risk and has stepped up inspections even though the World Health Organization says neither food nor packaging is a known transmission route. Canberra-Beijing relations hit a new low last week when China's foreign ministry spokesman sparked fury by tweeting a mocked-up image of a digger threatening to kill an Afghan child after a report alleged Aussie troops committed war crimes. Mr Morrison called the mocked-up image 'repugnant' and demanded an apology - but Beijing refused and on Tuesday communist party newspaper The Global Times shared a new image by the same artist attacking the prime minister. The Chinese Embassy in Canberra has released a dossier of 14 grievances including claims Australia is 'siding with the US', interfering in its affairs in Taiwan and Hong Kong. Among the other grievances was Australia's decision to ban Chinese telecommunications firm Huawei from the country's 5G network and blocking foreign investment bids by Chinese companies. <div class="art-ins mol-factbox news" data-version="2" id="mol-995c5020-3838-11eb-be5d-f79333672274" website suspends beef imports from a SIXTH Australian supplier

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2021-01-07T21:33:16Z

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