In recent years, the US has joined the league of major LNG exporters, however, since March this year a boom in export cargoes has started to come off and could decline further in coming months.
Since March LNG players have postponed Final Investment Decisions (FID) on at least 74m tonnes of liquefaction projects beyond 2020 due to the COVID-19 pandemic, according to Poten & Partners.
Cosco Shipping Energy Transportation is to setting up a LNG transportation joint venture in Hong Kong and will invest in the construction for three LNG carriers.
China State Shipbuilding Corporation (CSSC) and Qatar Petroleum officially signed a RMB20bn($2.86bn) contract for the construction of LNG carriers at CSSC Hudong-Zhonghua Shipbuilding.
Beijing Gas Group Company has been given approval by China’s National Development and Reform Commission on LNG project in Tianjin Nangang.
The Suez Canal Authority (SCA) is introducing new and enhanced toll rebates for containerships and LNG carriers.