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EU’s Significant Purchase of Liquefied Natural Gas from the United States

According to data released by the European Commission on 8 July, from July 25, 2018 to early March, 2019, the EU imported 7.9 billion cubic meters of liquefied natural gas from the United States, a substantial increase of 181% over the same period last year.

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Since 2019, LNG from the United States has accounted for 12.6% of all imports of LNG from the European Union, making the United States the third largest source of LNG from the European Union, the European Commission said.

The European Commission said that if market conditions permit and prices are reasonable, the EU is also ready to continue to expand imports and build a number of liquefied natural gas infrastructure for this purpose. The two sides will also hold the first EU-US Energy Commission High Level Forum in Brussels on May 2.

On July 25, 2018, the European Union and the United States agreed to negotiate to reduce trade barriers, ease trade frictions and suspend new tariffs. U.S. President Trump held talks with visiting European Commission President Juncker at the White House on bilateral economic and trade issues, and held a joint press conference after the talks. The two sides expressed their intention to strengthen strategic cooperation in the field of energy. One of the specific measures is to import more liquefied natural gas from the United States by the European Union.

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New U.S. sanctions will crack down on Russia’s LNG sector

Russian “Bulletin” website on March 5, the United States Congress announced at the end of February “on the security of the United States from Kremlin aggression” (DASKA), the bill is a supplement to the “Punishment Against the United States Enemy Act” (CAATSA) issued in 2017.

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According to the new law, the United States can impose sanctions on legal persons involved in new crude oil exploitation projects in Russia. The direct target of sanctions mentioned in the field of natural gas is the LNG projects implemented by Russia abroad.

However, the United States Industrial Safety Agency (BIS) issued an executive decree in 2014, stipulating that condensate gas is also included in the concept of “crude oil”, so related areas are also included in the sanctions.

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In February, China exported 657,000 tons of coal, an increase of 40.4% over the previous year.

According to data released by the General Administration of Customs on March 8, China exported 657,000 tons of coal in February, an increase of 189,000 tons, an increase of 40.4%, and an increase of 55,000 tons, an increase of 9.1%.

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Coal exports in February amounted to $97.7 million, an increase of 61.8% over the previous year, and a decrease of 11.5% over the previous year. Based on this, the unit export price is estimated to be 148.7 US dollars per ton, down by 34.7 US dollars per ton annually and up by 19.6 US dollars per ton year on year.

From January to February 2019, China exported 1.259 million tons of coal, an increase of 68.1% over the same period last year; the cumulative export amount was US$208.1 million, an increase of 77.0% over the same period last year.

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In February, China imported 17.641 million tons of coal, down 15.6% from the same period last year.

According to data released by the General Administration of Customs on March 8, China imported 17.641 million tons of coal in February, a decrease of 3.265 million tons, a decrease of 15.6%, and a decrease of 15.862 million tons, a decrease of 47.3%.

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Coal imports in February were $119.3 million, down 33.3% and 57.5% year-on-year. Based on this, the unit price of imports is estimated to be $67.5 per ton, down 16 dollars per ton annually and 17.8 dollars per ton year-on-year.

From January to February 2019, China imported 51.145 million tons of coal, an increase of 3.8% over the same period last year; the cumulative import amount was 3988.7 million US dollars, a decrease of 5.0% over the same period last year.

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Since 2016, China’s seaborne imports of coal have been increasing year by year. China still accounts for 30% of the world’s seaborne coal while the domestic coal production remains high.

In terms of imports in recent years, Indonesia, Australia, Mongolia and rising Russia have become the main sources of coal in China. In 2018, China’s coal imports have increased to 281.5 million tons, setting a new record.

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API crude oil stocks surpassed expectations by 7.29 million barrels and U.S. oil fell short-term

In the early morning of Wednesday, Beijing Time (March 6), data released by the American Petroleum Association (API) showed that API crude oil stocks in the United States increased by 7.29 million barrels, an expected increase of 388,000 barrels, gasoline stocks decreased by 391,000 barrels, refined oil stocks decreased by 3.1 million barrels, and after the data were released, U.S. oil short-term declined rapidly, reporting a drop of 0.55% to $5628 per barrel.

Zero Hedging, a well-known financial blog, said that API crude oil inventories fell unexpectedly last week and investors expected a slight increase in crude oil inventories this week, but the data showed that crude oil inventories increased by 7.29 million barrels. After the data was released, U.S. oil short-term declined rapidly.

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According to data released by the American Petroleum Association (API), U.S. crude oil stocks surged last week, gasoline stocks fell less than expected, and refined oil stocks fell more than expected.

API announced that as of March 1, U.S. crude oil stocks increased by 7.29 million barrels to 451.5 million barrels last week, while Cushing crude oil stocks increased by 1.13 million barrels.

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API announced that gasoline stocks fell by 391,000 barrels last week and refined oil stocks by 3.1 million barrels last week.

API data also show that U.S. crude oil imports increased by 801,000 barrels a day to 6.9 million barrels a day last week.

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