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Undoubtedly the long-term nature of the new deal increases security of Germany’s gas supplies significantly and reduces reliance on LNG imports and the spot market, which are subject to market volatility and higher prices. It is a return to supply stability.
The newly commissioned storage tank at the Qingdao terminal has a diameter of 100.6 meters and a height of 55 meters.
Didier Holleaux, the International Gas Union’s regional coordinator for Europe, believes the continent is in good shape to get through winter with sufficient gas supply, but cold weather and disruptions in Russian pipeline and LNG supply still pose a risk. [Gas in Transition, Volume 3, Issue 9]
The launch of Hong Kong’s first LNG terminal in July will see the city lean on imported gas to shore up its energy security and accelerate decarbonisation, but the fuel is not a long-term solution for local net-zero goals. [Gas in Transition, Volume 3, Issue 8]
Suppliers of liquefied natural gas (LNG) are betting on China to drive demand for the super-chilled fuel over the longer term despite last year's slowdown, as the country locks in multi-year supply deals.